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Utah County to receive $37,482.14 dividend from Utah Local Governments Trust
Summary
Ryan of the Utah Local Governments Trust told commissioners the county will receive a $37,482.14 dividend this year and said the payment reflects the trust's favorable actuarial performance and the county's safety efforts.
Ryan, a representative of the Utah Local Governments Trust, told the Utah County Commission that the trust was issuing a dividend to the county of $37,482.14.
"We have a check, that is almost twice what it was last year for $37,482.14," Ryan said, explaining that the trust returns surplus funds to members when actuarial performance produces a surplus. He described how Utah County first brought its workers' compensation program to the trust in 2009 and later moved all insurance programs to the trust in 2013.
Ryan said earlier dividends were much smaller — roughly $2,500 around 2010–2011 and about $19,000 last year — and credited Utah County departments and staff for safety and loss-prevention practices that reduced claims and produced the surplus.
Commissioners thanked Ryan and county staff for the work that led to the dividend. Unidentified Speaker 1 said the actual check arrived and had already been deposited, and Ryan said he would pass along greetings to a staff member named Steve.
The presentation did not require a vote; commissioners accepted the report and moved on to other agenda items.
