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Council debates $10,000–$20,000 actuarial review for sheriff’s pension; vote on letter scheduled next week

October 30, 2024 | Evansville City, Vanderburgh County, Indiana


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Council debates $10,000–$20,000 actuarial review for sheriff’s pension; vote on letter scheduled next week
Vanderburgh County Council members spent the bulk of their Oct. 30 personnel and finance meeting debating whether to hire a third‑party actuary to review the sheriff’s police pension, with a vote on a letter of engagement scheduled for the council’s next meeting.

The discussion centered on the scope and cost of the engagement, which the consultant estimated at $10,000 to $20,000. “$20,000 to me just seems, egregious,” said Unidentified Speaker (S8). Several council members asked for an hourly and staffing breakdown to show how junior and senior actuarial labor would be billed.

Supporters said the engagement is a prudent step. Unidentified Speaker (S3) said the county does not yet know the full liability and described the work as a “deep dive” that could examine both liabilities and investment performance. The transcript records estimates of the pension shortfall discussed during the meeting ranging from roughly $4.5 million to as high as $8 million; council members also referenced the plan’s reported asset balance during back-and-forth about the scale of the problem.

Council members also referenced a written request from Sheriff Nora Robinson asking the Vanderburgh County Council to distribute $140,000 from the sheriff’s commissary fund to the Vanderburgh County Police Pension Fund. That request was discussed alongside the proposed actuarial engagement as the council considered near-term steps to meet actuarially determined contribution requirements.

Several members offered to meet the consultant for a more detailed briefing. Unidentified Speaker (S1) said the board will see a presentation from the consultant and clarified that next week the council will vote only on the letter of engagement, not on any final appropriation or additional transfers.

The council did not take a final vote on the actuarial engagement during the Oct. 30 meeting; members requested a breakdown of costs and asked for the consultant to explain methodology at the forthcoming presentation. The item is slated for new business at the council’s next scheduled meeting, when the letter of engagement will be considered.

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Scribe from Workplace AI
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