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Retiree asks Chester County trustees to raise death benefit; staff confirms Ben Franklin liquidation and manager‑fee page
Summary
At the Aug. 26, 2025 meeting, retiree James DeLusio urged the Chester County Employees' Retirement Fund trustees to consider raising the plan’s $10,000 retiree life insurance benefit to $15,000 and asked for clearer disclosure of manager fees and the destination of proceeds from a liquidated holding.
At the Aug. 26, 2025 meeting of the Chester County Employees' Retirement Fund, retiree James DeLusio of Penn Township used the public‑comment period to ask trustees to consider increasing the plan’s retiree life insurance benefit and to request clearer reporting of manager fees and the disposition of proceeds from a recently liquidated holding.
DeLusio said he has raised the matter previously and asked the board to consider increasing the $10,000 retiree life insurance benefit to $15,000, acknowledging cost and complexity for those retirees who previously purchased supplemental insurance. He said rising funeral costs provide the rationale for the increase.
He also asked for a clear line in board reports showing manager fees and that the board confirm where the liquidated Ben Franklin proceeds were invested.
Staff response and follow-up - A staff member pointed the meeting materials to page 33, which contains the manager‑fee summary the commenter requested. - Staff confirmed the Ben Franklin holding was fully liquidated in July, that the expected cash proceeds were received and that the cash is currently held in the fund’s cash account to be used for upcoming payroll, benefits and expenses.
Ending: The board acknowledged the public comment and directed staff to ensure manager‑fee information is available in future reports. No formal action on the retiree life‑insurance proposal was taken at the meeting.
