Log In


Reset Password

Carbon seeks new actuary

Carbon County’s retirement board took the first step in replacing its actuary, which it terminated earlier this year.

On Thursday, the board approved the request for proposal for actuarial services for the retirement portfolio, which, as of Aug. 29, stood at $95,693,426.24

Controller Kayla Herman, who serves as secretary to the retirement board, said that the action is so the county can have a new actuary in place for the beginning of the new year.

In May, the county retirement board took action to begin the termination process of Korn Ferry Hay Group Inc. of Philadelphia, which had served as the retirement board’s actuary for approximately a decade.

At that time, Herman said that the termination was due to “performance” but did not elaborate.

The board of commissioners in June authorized the retirement board’s request, as well as approved an agreement for actuarial services for the county’s employee retirement system with Foster & Foster Consulting Inc. for a one-year period that went into effect May 27 at a total cost of $29,400.