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Sheriff briefs council on commissary reporting and pension health

Cass County Council · November 21, 2025

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Summary

Sheriff Schroeder told the council that statutory changes now require quarterly commissary reporting and presented pension figures: fund balance ~$10.6 million, funded ratio about 74.9%, and year-to-date investment earnings of about $1.02 million for 2025 to date.

Mister Schroeder told the Cass County Council that a summer change in state law now requires more frequent commissary reporting and that he was presenting pension-plan information publicly to meet the statutory requirements.

He provided a snapshot of the sheriff's pension plan, saying the fund balance is $10,626,097 and that when he took office the fund balance was $6,280,228. He reported year-to-date investment earnings of $1,018,830 (about 10.11% for 2025 so far) and an actuarial assumption of 6.5%. "Currently, it's funded at 74.9%," he said, describing the plan's asset allocation as roughly 5.89% cash, 60.28% stocks and 33.82% bonds.

Schroeder said the pension plan is administered by the sheriff and the merit board and is separate from the county employee pension. He identified the county's actuarial service (McCready & Keane) and a local investment manager involved in oversight. He said the legislature's Pension Management Oversight Committee evaluates plans and that the county's reporting meets the statutory requirements, while guidance on presentation details may come next year.

Council members thanked Schroeder and indicated the presentation fulfilled the statutory duty to report. Schroeder offered to provide a longer adviser report for council members who wanted deeper detail.