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Bedford County officials approve pursuit of Foster & Foster for pension actuarial services
Summary
At the Aug. 7 Cornerstone Q2 meeting, Bedford County moved to pursue an agreement with Foster & Foster for actuarial services and pension software, citing lower costs and a faster implementation timeline than the incumbent, GRS (formerly Korn Ferry).
Bedford County officials approved a motion at the Aug. 7 Cornerstone Q2 meeting to pursue an agreement with Foster & Foster to provide actuarial services and the pension software used by the county.
County and Cornerstone presenters told attendees that Foster & Foster offers the same pension software at lower cost and a faster, better-aligned implementation timeline than the current vendor, GRS (formerly Korn Ferry). Presenters said GRS reduced its fee after competition but remained more expensive than Foster & Foster; Foster & Foster was described as more responsive to Bedford County’s needs.
The motion to pursue an agreement with Foster & Foster was recorded as passed in the meeting transcript; the transcript does not include the name of the mover or seconder, nor a roll-call vote tally. Meeting participants did not record additional procurement details, a contract value, or an implementation schedule in the provided text.
Next steps noted in the discussion were to pursue a formal agreement with Foster & Foster; the transcript does not specify a contract timeline, estimated cost savings, or a final approval date. Further procurement steps and any required board or county approvals were not specified in the record.
