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HomeMy WebLinkAboutMINUTES - 03012011 - SD.7RECOMMENDATION(S): ACCEPT that this Board Order serves as written acknowledgment by the County Administrator (chief executive office) that he understands the current and future cost of health benefit changes for the Contra Costa County Defenders' Association and certain persons retired from classifications represented by the Association, as determined by the County's actuary in the February 9, 2011 Actuarial Report (Attached). FISCAL IMPACT: As shown in the valuation, the result of the health plan changes described herein, if implemented, will create a $5.3 million or 0.51% decrease in the Actuarial Accrued Liability and a $341,000 or 0.55% decrease in the calculated Annual Required Contribution. BACKGROUND: At its meeting on February 15, the Board of Supervisors accepted an actuarial valuation of future annual costs of negotiated and proposed changes to Other Post Employment Benefits, as provided by Buck Consultants in a letter dated February 9, 2011. The Board of Supervisors was informed APPROVE OTHER RECOMMENDATION OF CNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE Action of Board On: 03/01/2011 APPROVED AS RECOMMENDED OTHER Clerks Notes: VOTE OF SUPERVISORS AYES 5 NOES ____ ABSENT ____ ABSTAIN ____ RECUSE ____ Contact: Lisa Driscoll, County Finance Director, 335-1023 I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board of Supervisors on the date shown. ATTESTED: March 1, 2011 David J. Twa, County Administrator and Clerk of the Board of Supervisors By: June McHuen, Deputy cc: Lisa Driscoll, County Finance Director, Ted Cwiek, Human Resources Director SD. 7 To:Board of Supervisors From:David Twa, County Administrator Date:March 1, 2011 Contra Costa County Subject:Government Code 7507 - Chief Executive Acknowledgement of Future Costs of Benefits - Public Defenders BACKGROUND: (CONT'D) that Government Code, Section 7507 requires with regard to local legislative boards, that the future costs of changes in retirement benefits or other post employment benefits as determined by the actuary, shall be made public at a public meeting at least two weeks prior to the adoption of any changes in public retirement plan benefits or other post employment benefits. The February 9, 2011 report from Buck Consultants fulfilled that requirement. Government Code, Section 7507 also requires that if the future costs (or savings) of the changes exceed one-half of 1 percent of the future annual costs of the existing benefits for the body, an actuary shall be present to provide information as needed at the public meeting at which the adoption of a benefit change shall be considered. And finally, Section 7507 requires that upon the adoption of any benefit change to which the section applies, the person with responsibilities of a chief executive officer in an entity providing the benefit, however that person is denominated, shall acknowledge in writing that he or she understands the current and future cost of the benefit as determined by the actuary. As the County Administrator (chief executive officer) and by approving this Board Order, I acknowledge in writing that I understand the current and future cost of the benefit changes presented to you today, as determined by the actuary and contained in the February 9, 2011 letter from Buck Consultants (County's actuary). CONSEQUENCE OF NEGATIVE ACTION: Delayed implementation of health care rate revisions. CHILDREN'S IMPACT STATEMENT: None.