Jackson County Executive announces
Pension & Retirement Review Task Force
January 10, 2008 (KANSAS CITY, MO) – Jackson County Executive Mike Sanders announced the members of a new Pension and Retirement Review Task Force this week. During his 2008 budget message in November Sanders noted the need for such a task force saying, “The integrity and solvency of this plan is a critical promise we have made to the employees of this county.” Sanders went on to explain that this task force will be asked to “examine the current pension plan structure so that no employee will ever be forced to worry whether the money promised them will be there.”
The Jackson County employee’s Pension & Retirement Fund, as of July 1, 2007, has a total asset market value of approximately $158.96 million and an unfunded accrued liability of approximately $54.19 million.
The Pension and Retirement Review Task Force will be chaired by Sandra L. Schermerhorn, principal attorney for The Schermerhorn Law Firm. Schemerhorn specializes in employment law and mediation of employment disputes. She served as the Jackson County Counselor from 1995 to 1998 and was also a partner at the Spencer, Fane, Britt & Browne law firm for 22 years.
Additional members of the Task Force include; J. Robert Ashcroft, Financial Planner and expert on government retirement systems; Forrest Bertsch, Director of Civil Process for Jackson County Circuit Court; Michael Martin, Registered Representative with ING Financial Partners Inc.; Joseph Moreland, Attorney with Blake & Uhlig, P.A.; and Rochelle Neal, Deputy Director of Human Resources for Jackson County; W. Patrick Sterner, recently retired as a Senior Vice President with Waddell & Reed Investment Management Company.
NEWS RELEASE ARCHIVES