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County Council denies immediate approval for pension actuarial engagement; asks commissioners to revisit
Summary
Vanderburgh County Council declined to approve a commissioners-backed engagement letter for an actuarial review of the sheriff's pension plan, opting to meet 2024 funding needs now and seek further analysis of long-term alternatives before contracting a consultant.
President Hahn opened the meeting Nov. 6 with an item that had been discussed previously: whether to approve an engagement letter for an actuarial review of the county's police/sheriff pension plan. The commissioners had proposed hiring a consulting firm, with the cost estimated in the $10,000'$20,000 range and to be paid from commissioners' riverboat funds.
Carter Angel, joining by videoconference, identified himself as a pension consultant with 16 years of experience who previously worked at Nyhart, the county's current actuary. Angel said his firm could perform a two-part engagement: a technical plan-health review to match existing liability…
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