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Board approves plan-paid vendor fees, retains GRS at $1,461/month and OKs admin fee increase
Summary
Elk County Retirement Board voted to have the Plan pay actuarial, custodial, trustee and investment management fees; approved GRS actuarial fees at $1,461 per month; and accepted a Definiti LLC administration fee increase to $6,300 per year.
The board approved that actuarial, custodial, trustee and investment-management fees for 2026 be paid by the Retirement Plan. Gregory J. Gebauer moved the motion and Matthew T. Frey seconded; it carried unanimously. Separately, the board approved continuing Gabriel Roeder Smith & Company (GRS) actuarial services at $1,461 per month for 2026.
The board also approved Definiti LLC’s plan administration and record-keeping fee of $6,300 per year, a 5% increase from the prior $6,000, and retained GRS printing and distribution of year-end 2025 individual benefit statements at $1.85 per statement. All vendor- and service-related motions carried unanimously.
These actions formalize the vendor payment responsibilities and set the contractual fee levels the plan will pay in 2026.
