/ Articles / Lac du Flambeau approves payment of unfunded liability

Lac du Flambeau approves payment of unfunded liability

May 12, 2020 by Kayla Houp

The Lac du Flambeau Town Board approved a motion Wednesday, May 6, to pay off its Wisconsin Retirement System Unfunded Actuarial Accrued Liability balance of $210,089.90.

“We’ve got a letter from the employee trust fund,” town chair Matt Gaulke said. “We’ve got an unfunded liability with our retirement fund for our employees that dates back to 1972 when they first joined it.”

According to Gaulke, when the town joined in, the employees were able to get retirement benefits, but t...

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