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Pension advisor tells Noble County Council portfolio up about $1.03M in 2025; funding pressure for deputies discussed
Summary
Mike Daxel presented a pension‑plan update showing a combined portfolio value of roughly $9.1 million (Dec. 31), about $1.03 million in 2025 investment gains, 60% equities/37% fixed income allocation, and discussed recommended county contributions and funding pressures tied to riverboat and public safety tax revenue.
At the Noble County Council meeting Feb. 2, pension advisor Mike Daxel gave a portfolio briefing and answered council questions about funding and contribution levels.
Daxel told the council the combined portfolio value was about $9.1 million as of Dec. 31, with the pension plan representing roughly $8.5 million and the benefit plan about $750,000. "For the last year, we had investment gains of a little over $1,030,000," Daxel said, and described an allocation of roughly 60% equities and 37% fixed income with an average maturity of about 4.8 years.
Council members asked how the plan generates returns and about the fee structure; Daxel said his firm charges a flat fee based on market value and does not earn commissions on sales. Participants discussed recommended county contributions: staff noted a recommended county contribution figure for 2025 around $400,007.42 and emphasized that staying with recommended contributions helps pension solvency and reduces actuarial stress.
Members raised the funding sources that support county contributions — called out in the meeting were riverboat/gaming revenue and the public safety income tax — and the risk that legislative changes to those revenue streams could increase pressure on county budgets.
No action was taken beyond the presentation; council members asked for continued monitoring of the plan and to receive the annual recommended contribution figures during budget planning.
