The Vanderburgh County Council has decided to hire an independent actuary to review the numbers and plans presented by the Sheriff’s Office. This comes after the state accused the Sheriff’s Office pension plan of having insufficient contributions over the past few years. County officials recently went to Indianapolis to present their plans for ensuring the pension plan’s future solvency.
The council is currently considering four options, which include either providing a large sum of money immediately or spreading out payments over the next few years. Sheriff Robinson has stated that there is no immediate concern for the pension plan, emphasizing that they can meet all their current commitments. He supported the county’s decision to validate their calculations with an independent consultant.
However, this may delay the process as the new actuary gets up to speed on the situation. The candidates for the upcoming Vanderburgh County Council At-Large race were asked about their understanding of the issues facing the Sheriff’s Office pension fund and their positions on resolving them. The candidates agree on addressing the pension fund’s shortcomings but propose different strategies for achieving a sustainable solution.
Hiring an independent actuary
Bob Deig, an incumbent Democrat, believes that the issue won’t be resolved overnight and that collaboration between the council, sheriff, fund actuary, and pension board is needed. Karese Johnson, a Democrat, thinks that a five-year plan should be developed to fund the pension fully and that exploring the budget and additional revenue opportunities for the county is essential.
Joe Kiefer II, a Republican, supports getting the pension back to a properly funded status and believes that different funding strategies, including a possible Limited Pension Obligation Bond, should be considered. Sheriff Noah Robinson and the Vanderburgh County Council assure that they have a plan to address the pension delinquency, emphasizing that no benefits will be cut. The sheriff attributes the issue to a miscommunication between the pension board and the county council.
He explains that deputies have been contributing the legal maximum amount to the plan, but the previous pension board did not request adequate funding from the county. The Sheriff and County Council are committed to working towards a solution to rectify the issue and prevent future problems. Voters will decide on Nov. 5 who will best manage these fiscal responsibilities.
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