Shelby County Government offers its employees fully funded and defined benefit plans. It is the reponsibility of the Retirement Office to oversee the administration of these plans. Currently there are slightly over 2400 County retirees. In addition to assisting retirees, the Retirement Office also deals with those employees who become permanently disabled. In January 2002 the disability portion of retirement was awarded to a long term disability insurance carrier. The Retirement Office still disburses disability checks to those employees who became disabled prior to January 2002 and assist those applying for disability with the contracted LTD insurance company.
The Shelby County Retirement System is independently audited, separately from Shelby County Government's general audit, each fiscal year. The financial statements for Shelby County Retirement System must present fairly the plan net assets and any changes in those net assets. The internal control over financial reporting is also tested for its compliance with certain provisions of laws, regulations, contracts, and grants.
In conjunction with the independent audit, an actuarial valuation is conducted yearly on the plan. To review the Independent Auditors' report and the Actuarial Valuation report for the latest year, please click on the links above.
