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Shelton board adopts resolution to extend LARM notice in exchange for contribution credit
Summary
The Village of Shelton on Aug. 14 approved Resolution No. 25-08-14 to commit to an extended notice period with the League Association of Risk Management (LARM) in exchange for contribution credits, including a 180-day termination notice and a date no earlier than Sept. 30, 2028, tied to a 5% discount.
The Village of Shelton Board of Trustees voted unanimously Aug. 14 to approve Resolution No. 25-08-14, agreeing to terms from the League Association of Risk Management (LARM) that provide contribution credits in exchange for an extended termination notice.
Chairman William C. Roe introduced the item, and Trustee Rabbe moved to approve the resolution, with Trustee Oberg seconding. The motion carried with all five trustees voting yes: Roe, Oberg, Rabbe, Jensen and Keslar.
The resolution cites section 8.10 of the Interlocal Agreement for the Establishment and Operation of the League Association of Risk Management and states the village will provide written notice of termination at least 180 days prior to a desired termination date. It specifies that the termination date shall be no sooner than Sept. 30, 2028, and the board noted a 5% discount is available under LARM’s plan for members who accept the specified commitment.
Local officials said the measure is intended to stabilize insurance contribution rates and realize cost savings over time by accepting the longer notice period tied to contribution credits. The resolution was presented and adopted as a formal action; no further details about the duration of coverage or the estimated dollar savings for the village were provided at the meeting.
The board did not set any additional conditions or amendments to the resolution during the Aug. 14 meeting. The meeting record shows the resolution was approved and the board moved on to other agenda items; implementation steps (for example, the date formal notice would be sent) were not specified in the minutes.
