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County council declines immediate approval for actuarial engagement on sheriff—s pension
Summary
Vanderburgh County Council heard an actuarial consultant—s pitch for a technical or fuller financial review of the sheriff—s pension plan and declined at this meeting to approve the commissioners— engagement letter; council members asked for more time to explore alternatives and funding options.
Vanderburgh County Council members on Nov. 6 refused to approve, at this meeting, an engagement letter that would have hired an actuarial consulting firm to review the sheriff—s pension plan.
Carter Angel, an Indianapolis-based pension consultant, told the council his firm would perform either a technical plan-health review intended to verify the current actuary—s figures or a more comprehensive, costlier analysis offering alternatives to simply funding the actuarially determined contribution (ADC). Angel gave a price range of roughly $10,000 to $20,000 for the engagement; he said a deeper, forensic matching of liability figures could run substantially higher.
Council…
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