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Sheriff asks commissioners to consider cost-of-living adjustment for merit deputies' pension; request returned for further review
Summary
The sheriff and the merit board presented options to add a COLA to the merit deputies' retirement plan and asked the commissioners to revisit the proposal in two weeks; commissioners agreed to place the item back on the agenda.
Sheriff Jim Smith and members of the sheriff's merit board presented a proposal to the Kosciusko County commissioners to add a cost-of-living adjustment (COLA) to the merit deputies' retirement plan.
Alan Oliver, a merit board member and financial adviser, told the commissioners the plan is "97.5% funded," which he contrasted with a state average he described as "80 to 85%." Oliver said the merit board recommends a variable annual COLA capped at 3% tied to the federal rate,…
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