Writer clarifies comments at recent school meeting
RE: Star New Article Posted May 26, 2021 “Board seeks balance on post retirement benefits” Dear Brian Wilson: In follow up to our telephone conversation today (Friday), I ask that The Star News issue clarifications regarding the quotes in the above noted article: Article quotes:
• However, Linda Mont, a senior benefit consultant at Key Benefit Concepts, had a more measured approach noting that levels above 50% are considered well funded in the financial industry.
• “You are very well funded,” Mont said.
Clarification: Several times in the meeting I stated that I am not an investment manager or investment consultant. I cannot speak on behalf of the financial industry. I explained that in our work, we see many districts who find, along with their auditor, that funding at 50% is considered well funded.
I also stated that the District had been over 90% funded and as a result of a number of factors which the article stated very well, the obligation grew at a faster rate than the District’s funding over the last few years. And, if the District does not make greater contributions to the Trust than they have in the last few years, the funding level will drop below 50% in the future.
I appreciate your organization’s commitment to provide quality communications regarding matters of concern to the community. Overall, I felt the article was well written. I just want to be sure that the comments in the article were not taken out of context.
Thank you for your efforts to clarify this to your reading audience.
— Linda R. Mont, CSRM, RHU, Managing Member Key Benefits Concepts, Wales, Wis.