Delaware County, Indiana - Notes to Financial Statements

Contributions

The Employer intends to contribute to the Plan each year such amounts as may be required to operate the Plan on a sound actuarial basis. The minimum annual contribution by the County must be sufficient, as determined by the pension engineers, to prevent deterioration in the actuarial status of the trust fund during the year. According to IC 36-8-10-12(e), if the County fails to make minimum contributions for three (3) successive years, the pension trust terminates and the trust fund shall be liquidated. For the year ending December 31, 2025, the actuarially determined Employer's contribution rate was 2.7% of annual payroll, $68,874 of which was contributed by the County.

Investment Policy

The pension plan's policy regarding the allocation of invested assets is established and may be amended by the Committee (per the Plans legal document) by a majority vote of its members. It is the policy of the Committee to pursue an investment strategy that reduces risk. The pension plan's investment policy discourages the use of cash equivalents, except for liquidity purposes and aims to refrain from dramatically shifting asset class allocations over the short time spans. The Committee's asset allocation policy is as follows:

Asset Class	Target Asset Allocation %
Equities	60%
Fixed income	35
Nontraditional assets	5

Net Pension Liability

The components of the net pension liability of the Plan at December 31, 2025 were as follows:

Total pension liability	$	956,924
Plan fiduciary net position		(1,114,238)
Plan's net pension liability (asset)	$	(157,314)
Plan fiduciary net position as a percentage of the total pension liability		116.44%

Pension Expense of the Plan

Pension expense of $60,617 was recognized for fiscal year ending December 31, 2025.