Investment manager reports Daviess County sheriff's pension about 124% funded after strong 2025 returns
April 08, 2026 | Daviess County, Indiana
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Mary Dishman, an investment manager with GermanAmerican Wealth Advisory Group, told the Daviess County Council on April 18 that the county's sheriff's retirement plan is in strong financial shape.
Dishman said the plan's funding ratio is about 124.4% and that the plan posted an investment return of about 17.64% for the year ending Dec. 31, 2025. She said retirement-plan assets were approximately $8.836 million and that the plan had roughly 23–24 active participants and eight retirees drawing benefits.
The presentation explained the plan structure — the Davis County Sheriff's Merit Board oversees the plan, the Sheriff's Department is the employer and GermanAmerican serves as trustee and investment manager — and noted that the actuary reporting for the plan is McCreary & Keen (listed in the valuation materials). Dishman told council members the reported returns were net of fees when asked.
Council members asked clarifying questions about participant counts and eligibility. Dishman said employees must serve 10 years to be eligible for benefits, up from eight under the plan's prior rule, and summarized annual benefit payments and contributions.
No formal council action was required; the presentation was recorded to satisfy a new state requirement for counties to present pension health metrics to their councils. Dishman said the valuation report is available through the state 27s Gateway system and the sheriff's merit board will continue to receive the actuary's valuation package annually.
The council did not take a vote on benefits or policy changes at the meeting. The retirement-plan presentation is expected to be repeated in annual reporting to the council under the statutory reporting requirement.
Dishman said the plan's funding ratio is about 124.4% and that the plan posted an investment return of about 17.64% for the year ending Dec. 31, 2025. She said retirement-plan assets were approximately $8.836 million and that the plan had roughly 23–24 active participants and eight retirees drawing benefits.
The presentation explained the plan structure — the Davis County Sheriff's Merit Board oversees the plan, the Sheriff's Department is the employer and GermanAmerican serves as trustee and investment manager — and noted that the actuary reporting for the plan is McCreary & Keen (listed in the valuation materials). Dishman told council members the reported returns were net of fees when asked.
Council members asked clarifying questions about participant counts and eligibility. Dishman said employees must serve 10 years to be eligible for benefits, up from eight under the plan's prior rule, and summarized annual benefit payments and contributions.
No formal council action was required; the presentation was recorded to satisfy a new state requirement for counties to present pension health metrics to their councils. Dishman said the valuation report is available through the state 27s Gateway system and the sheriff's merit board will continue to receive the actuary's valuation package annually.
The council did not take a vote on benefits or policy changes at the meeting. The retirement-plan presentation is expected to be repeated in annual reporting to the council under the statutory reporting requirement.
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