Lackawanna County board approves three-year actuarial contract with GRS

The Lackawanna County board voted to approve a three-year contract with GRS to provide actuarial services, following notice that longtime provider Korn Ferry is leaving the actuarial business.

The contract, presented as Motion 25-5030, was introduced by Speaker 1 and seconded by Speaker 3 after Speaker 2 described the procurement process. "Korn Ferry has notified us they are going out of the actuarial business, actually, at the end of this month," Speaker 2 said, and recommended moving to a new provider to maintain continuity for pension administration.

Why it matters: the county’s actuarial provider prepares valuations and other calculations that affect pension contributions and benefit administration. Board members said the decision was driven by continuity and turnaround time for routine actuarial work.

Speaker 2 told the board the county issued a request for proposals and received eight submissions; finalists included Foster and Foster and GRS, and the committee recommended GRS based on familiarity and an easier transition. As presented in the meeting record, the contract price was described as $36,000 for the first year, $37.80 for the second year, and $38.01 92 for the third year; the transcript formatting of those figures was inconsistent, and the board did not provide a corrected, codified dollar format during the meeting.

Speakers also discussed operational details: Speaker 3 said GRS staff include Michael and Craig, who had worked at Korn Ferry and have access to the county’s records, which the presenters said would help smooth the handover. The board noted the contract is a professional services agreement that can be terminated on 30 days' notice; Speaker 2 said the three-year term is a locked price for that period but can be ended early if the county chooses.

The motion to award the contract was moved, seconded, and approved by voice vote. The transcript records 'Aye' and the chair declared the motion approved; individual vote tallies and member-by-member votes were not specified in the record.

Other business: the board tabled approval of the prior meeting minutes until those minutes are circulated and noted that a pension-plan review with CS McKee is expected in December; no date was set. The meeting concluded with a motion to adjourn that was approved.

The board did not make further schedule or budget commitments during the session; any formal contract execution and payment timelines were not specified at the meeting.