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Actuary outlines multi‑option plan as Vanderburgh sheriff’s pension falls to 73% funded
Summary
An actuary presented four remediation scenarios to Vanderburgh County Council after the sheriff’s pension funded ratio fell from about 94% (2022) to 73% (2023); options ranged from a large one‑time contribution to ongoing higher percentage‑of‑pay contributions, and council requested an independent actuarial review.
Sheriff Noah Robinson and an actuary presented to Vanderburgh County Council on Oct. 2 after the county’s sheriff pension plan’s funded ratio declined to roughly 73% in 2023.
The actuary outlined four remediation scenarios: two that rely on one‑time lump contributions and two that change employer contribution rates. Using updated August asset values, a one‑time contribution to return the plan to a 100% funded position by the plan’s target year was estimated at about $8.7 million (option 1), while a less aggressive one‑time contribution to allow the current…
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