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Vandenberg County hears actuary's remediation options as sheriff's pension funding dips to 73%
Summary
Sheriff Noah Robinson and the plan actuary told the county council the sheriff's pension fell from about 94% funded in 2022 to roughly 73% in 2023 and presented four remediation scenarios ranging from a one-time multimillion-dollar payment to higher ongoing payroll contributions; council asked for an independent review before decisions.
Sheriff Noah Robinson and the plan's actuary briefed the Vandenberg County Council on Oct. 2 about shortfalls in the sheriff's pension plan and presented options for restoring long-term funding.
The actuary said the plan's funded level fell from about 94% in 2022 to roughly 73% in 2023 and noted the plan missed its actuarially determined contribution (ADC) in several recent years. The actuary described four remediation approaches: a large one-time lump-sum payment to reach full funding by 2035, a smaller one-time payment combined with scheduled employer contributions, and two options that increase the county's…
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