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Bedford County Retirement Board approves portal and actuarial fees; treasurer votes no
Summary
The Bedford County Retirement Board on June 1 approved $31,000 in portal/implementation fees (not to exceed $32,000) and $13,200 in actuarial fees (not to exceed $13,300) to be paid from the pension plan; the motion passed 4–1 with Treasurer Melissa Cottle dissenting.
The Bedford County Retirement Board on June 1 approved paying portal and implementation fees of $31,000 (not to exceed $32,000) for 2026 and actuarial fees of $13,200 (not to exceed $13,300) for the final quarter, to be taken from the county pension plan. Debra Brown moved the motion and Commissioner JR Winck seconded it; Commissioners Mike Stiles, JR Winck, Deb Baughman and Debra Brown voted in favor, and Treasurer Melissa Cottle cast the lone no vote.
Board members discussed historical practice for who covers actuarial costs. Lori Black, the county human resources director, said she had spoken with David Reichart, who told her that in the 1970s the retirement board approved paying actuarial fees out of the general fund. The minutes record a round-table discussion of that historical practice but do not indicate a formal change to the county’s written funding policy.
The motion as recorded directs the payments to come from the pension plan for 2026. The minutes do not specify any follow-up steps, reporting requirements, or a formal written policy change on future funding of actuarial costs. The board recorded the motion as approved in the meeting minutes.
