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Actuary tells LaSalle County trust it may need about $20.4M; committee seeks corrected exhibits and more options analysis
Summary
An actuarial report presented to the trust estimated a $20.4 million funding need through 2030; committee members asked for reconciliations, corrected exhibit pages and comparative cost runs (standard insurance vs. recapitalization/bonding) before any funding decision.
The LaSalle County insurance trust committee reviewed an actuarial study estimating the trust would need about $20.4 million to fund liabilities through 2030 and debated several funding scenarios before agreeing to gather more detailed financial reconciliations and corrected exhibits.
Bill, presenting the study, said the last page shows a cumulative need of "$20,400,000" and that the actuary included a $1,000,000 cushion. He said the trust currently holds roughly $6,000,000, leaving an additional funding gap of about $15,000,000 under the study’s assumptions. "That cumulative number ... was deemed at $20,400,000," he said while pointing to highlighted pages the committee had received that day.
He presented…
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