Duties of the Retirement Office
The Shelby County Government offers its employees fully funded and defined benefit plans. It is the responsibility of the Retirement Office to oversee the administration of these plans, while the fiduciary responsibility is that of the Shelby County Board of Trustees. In addition to assisting retirees, the Retirement Office also deals with employees preparing to retire, refunds and rollovers of terminating employees, and those employees who become permanently disabled.
The Retirement Office has the responsibility of processing the payment of all monthly pension benefits.The total pension payroll for current pensioners as of , is in excess of $10 million dollars per month.The Retirement Office also insures that pre and post-65 retirees enrolled in Shelby County Government’s benefits program meet all eligibility requirements for health, life, and voluntary insurance benefits.
Long-Term Disability Protection
As of January 2002, the disability portion of retirement is managed by an independent long-term disability (LTD) insurance carrier. The Retirement Office assists those applying for disability with the contracted LTD insurance company.
Retiree Medical and Life Insurance Plans
- If you were hired prior to June 11, 2007, you may be eligible to receive Shelby County Government Retiree Medical andLife Insurance when you initiate your retirement benefit.
- If you were hired on or after June 11, 2007, and have at least 15 years of service, you may be eligible for a County provided post-65 retiree medical plan benefit upon becoming eligible for Medicare. Life insurance benefits are not available after retirement.
Retirement System Audits & Valuations
The Shelby County Retirement System is audited each fiscal year. The financial statements for the County’s Retirement System must fairly present the plan's net assets and any changes to those net assets. Internal control is also tested for compliance with provisions of applicable laws, regulations, contracts, and pension plan documents.
In conjunction with the audit, an actuarial valuation of Shelby County Government’s Retirement System is also conducted annually. Plan participation vs contributory. Shelby County Government makes required contributions to the Pension Fund each year based on the yearly actuarial valuation requirements.