PROFESSIONAL_SERVICESONGOING

Village of Roselle Board of Trustees Agenda Packet 2026-06-22

Roselle retains Foster & Foster for pension actuarial work

Estimated cost: $3,520,815 (actuarially determined FY 2027 contributions for both pension funds)Roselle village (pt.)FOSTER & FOSTERJune 22, 2026

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Description

The Village of Roselle continues its engagement with Foster & Foster to provide actuarial valuation and GASB 67/68 disclosure reports for the Police and Firefighters’ Pension Funds, supporting a combined FY 2027 contribution requirement of $3,520,815. The actuarial work underpins pension funding decisions and related disclosures in the FY 2025 Annual Comprehensive Financial Report.

Contract Details

Contract Amount

Estimated cost: $3,520,815 (actuarially determined FY 2027 contributions for both pension funds)

Vendor

FOSTER & FOSTER

Agency

Roselle village (pt.), IL

Contract Type

PROFESSIONAL_SERVICES

Document Date

June 22, 2026

Contract Term

Contributions applicable to Fiscal/Plan Year Ending December 31, 2027; valuation as of January 1, 2026

Renewal Date

2027-12-31

Renewal Info

Ongoing professional actuarial engagement; the January 1, 2026 valuation supports contributions for the fiscal year ending December 31, 2027 and GASB reporting for the year ended December 31, 2025. Future actuarial valuations are expected annually but specific renewal terms are not stated.