HomeMy WebLinkAboutMINUTES - 01162007 - C.42 (2) r.
�r ` _ Contra
TO: BOARD OF SUPERVISORS
0. Costa
I '
FROM: JOHN CULLEN,
x; _ z
COUNTY ADMINISTRATOR '
�osn� A ry County
Q- -January 16 2007 c�U
DATE: , ` A
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SUBJECT: EMPLOYEE RETIREMENT PLAN CONTRIBUTION RATES FOR NEW
SAFETY ENHANCED TIER
SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION
RECOMMENDATION:
ADOPT the attached resolution prepared by the Retirement Administrator, which
establishes the retirement plan contribution rates for employers and employees for new
Safety Tier C effective January 1 , 2007 through June 30, 2008.
BACKGROUND:
On December 12, 2006, the Board of Supervisors adopted Resolution 2006/770
"Making Government Code Section 31484.9 Applicable in this County; Implementing a
New Safety Retirement Tier (Government Code Sections 31462 and 31870) for Sworn
Sheriff's Personnel Hired After December 31 , 2006." Pursuant to Government Code
Sections 31454, on December 13, 2006, the Board of the Contra Costa County
Employees' Retirement Association established the employer and employee
contribution rates for the new safety tier and recommended adoption of these rates.
The Board of Supervisors must act to adopt these rates. (Gov. Code, § 31454.)
These rates will be included in the salary forecast and planning for the 2007-08 budget.
CONTINUED ON ATTACHMENT: ,/ YES SIGNATURE: )
,7
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION OF' ARD COMMITTEE
APPROVE OTHER
SIGNATURES
ACTION OF BOA D APPROVED AS RECOMMENDED V OER
VOTE OF SUPERVISORS I HEREBY CERTIFY THAT THIS IS A TRUE AND CORRECT
COPY OF AN ACTION TAKEN AND ENTERED ON MINUTES OF
UNANIMOUS(ABSENT
THE BOARD OF SUPERVISORS ON THE DATE SHOWN.
)
AYES: NOES:
ABSENT: ABSTAIN:
Contact: Lisa Driscoll,County Administration(335-1023)
Cc: Steve Ybarra,County Auditor ATTESTEDr�
Lori Gentles, Human Resources OHN CULL CLERK tF THE BOARD OFSUPERVISORS
Lisa Driscoll,County Administrator's Office
Silvano Marchesi, County Counsel
Marilyn Leedom,CCCERA BY: � DEPUTY
0
THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, CALIFORNIA
Adopted this Order onV2M , by the following vote:
AYES: bwl&, �OYU�L�LQ.1 CSI tS( er aro P
NOES: &j0A4E
ABSENT: MN6
ABSTAIN:
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SUBJECT: Approving Contribution Rates to be charged Resolution No.oZ��7 23
by the Contra Costa County Employees'
Retirement Association.
Pursuant to Government Code Section 31454 and on recommendation of the Board of the Contra Costa County
Employees' Retirement Association, BE IT RESOLVED that the following contribution rates are approved to be
effective for the period January 1, 2007 through June 30, 2008 for the New Safety Enhanced 3% @ 50/2%
COLA/36 Ino FAS for the Deputy Sheriff Association's new employees hired on or after January 1, 2007 that fall
into this classification.
I. Basic Retirement Benefit Rate Component (payable as a % of compensation)
A. For applicable County Safety Members Under the 3% at 50, 2% COLA and 36 month final
average salary
1. Safety Members 29.39%
II. Cost of Living Program Rate Component (payable as a % of compensation)
A. For applicable County Safety Members Under the 3% at 50, 2% COLA and 36 month final
average salary
1. Safety Members 9.04%
III. Non-refundability Discount Factors
Because payments made under agreement, by the employer on behalf of
employees are non-refundable, they shall be paid at the following rates:
Benefit Schedule
New Enhanced
Safety: .9987
ADMINISTRATION
CONTRIBUTIONS
(Resolution)
36M05:'FAS: Enhanced)
Effective 1/1/07 - 6/30/08
(Expressed as a Percentage of Monthly Payroll)
Entry Age Basic COLA Total
15 9.23% 3.69% 12.92%
16 9.23% 3.69% 12.92%
17 9.23% 3.69% 12.92%
18 9.23% 3.69% 12.92%
19 9.23% 3.69% 12.92%
20 9.23% 3.69% 12.92%
21 9.16% 3.66% 12.82%
22 9.09% 3.63% 12.72%
23 9.03% 3.61% 12.64%
24 8.98% 3.59% 12.57%
25 8.94% 3.57% 12.51%
26 8.91% 3.56% 12.47%
27 8.89% 3.55% 12.44%
28 8.88% 3.55% 12.43%
29 8.88% 3.55% 12.43%
30 8.90% 3.55% 12.45%
31 8.92% 3.56% 12.48%
32 8.95% 3.57% 12.52%
33 8.996/o 3.59% 12.58%
34 9.04% 3.61% 12.65%
35 9.09% 3.63% 12.72% -
36 9.15% 3.65% 12.80%
37 9.21% 3.68% 12.89%
38 9.27% 3.70% 12.97%
39 9.34% 3.73% 13.07%
40 9.41% 3.76% 13.17%
41 9.48% 3.79% 13.27%
42 9.56% 3.82% 13.38%
43 9.64% 3.85% 13.49
44 9.72% 3.88% 13.60%
45 9.81% 3.92% 13.73%
46 9.89% 3.95% 13.84%
47 9.99% 3.99% 13.98%
48 10.36% 4.14% 14.50%
49 10.93% 4.36% 15.29%
50 10.93% 4.36% 15.29%
51 10.93% 4.36% 15.29%
52 10.93% 4.36% 15.29%
53 10.93% 4.36% 15.29%
54 10.93% 4.36% 15.29%
55 10.93% 4.36% 15.29%
56 10.93% 4.36% 15.29%
57 10.93% 4.36% 15.29%
58 10.93% 4.36% 15.29%
59 10.93% 4.36% 15.29%
60 10.93% 4.36% 15.29%
COLA Loading Factor: 39.93%
Safety Rates New enhanced 1-1-07 Exhibit F