LCMLetterNews you can use
October 9, 2012
In this issue
:: Department of Insurance Actuarial Assumptions
:: LCML Annual Banquet
:: LCML Strategic Planning
:: Call for Entries - The Cutting Edge Program
Greetings!
The LCMLetter is published twice a month and its goal is to keep Lake County Municipal League members informed on municipal issues. As issues relevant to municipal officials arise, the LCMLetter will provide you with a synopsis of the issues and provide you with a link for further details.
Department of Insurance Actuarial Assumptions change

The Public Pension Division of the Illinois Department of Insurance has issued a policy bulletin concerning actuarial assumptions and mortality tables. With reference to the implementation of Public Act 96-1495, the DOI will be providing suggested tax levy reports to all Article 3 Police pension funds and Article 4 Firefighter pensions funds with fiscal years ending May 2011.

Among some of the changes are
  • reduction in investment assumptions based on fund asset size
  • mortality tables updated
  • increase in assumed years of service for employees
  • modification in salary growth rate

For more details click here.   

leaves
LCML Annual Banquet November 15

Hawthorn Woods Country Club 
One Tournament Drive 
6:00 pm cash bar 
7:00 pm dinner
Please pay with a credit card or check before November 7. Click here for the registration form.
 

LCML Strategic Planning  

 

LCML Board members will be meeting

in November to discuss the recent member survey and develop a Strategic Plan for Lake County Municipal League. Thank you to all our members who responded to the survey. We will share the Strategic Plan in the coming months.
Call for Entries - 
2012 Cutting Edge program

Does your community have a
program, policy or procedure that meets the needs or challenges of your community in a cost-effective way? It does not need to be a program starting in 2012 to enter. We just want to be able to share cost-effective programs with our members.
Apply for LCML 2012 Cutting Edge Program award.  Deadline to enter is October 19. Click for an application and an explanation of the program.
Cooperative Purchasing Survey sent to members

Because of the interest in cooperative purchasing expressed by LCML members, a survey was sent to managers recently. The survey listed a wide range of services a municipality might use and asked if there was interest in co-op purchasing in them.

Responses are being tabulated and the Cooperative Purchasing Planning Committee will be meeting again to discuss the next step. For more information on the survey, please contact Chris Gentes at lcml@sbcglobal.net
Please share this LCMLetter with staff. It is our aim to keep elected officials and their village staff informed about the issues facing municipalities.
 
Sincerely,
Christine Gentes
Lake County Municipal League