HomeMy WebLinkAboutMINUTES - 06051984 - 2.3 THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, CALIFORNIA
Adopted this Order on June 5 , 1984 , by the following vote:
AYES: Supervisors Powers , Fanden, Schroder , McPeak, Torlakson.
NOES: None .
ABSENT: None .
ABSTAIN: None . RESOLUTION NO . 84/329
SUBJECT: Approving Contribution Rates and Interest to be Credited for 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 and interest rates are approved to be effective as indicated:
I. Retirement Contributions
A. County and District Rates:
1. General Members - Tier I
Effective 7-1-84 on the first #350 monthly compensation: 5.130
on compensation in excess of.$350 monthly: 7.70%
2. General Members - Tier II
Effective 7-1-84 on Total Compensation: 5.80%
3. Safety Members
Effective 7-1-84 on Total Compensation: 14.13%
B. Employee Rates:
See attached sheets for details on both General Members and Safety Members
II. Cost of Living Program Contributions
A. County and District Rates:
1 . General Members - Tier I
Effective 7-1-84 5. 22% of earnable compensation
2. General Members - Tier II
Effective 7-1-84 4 .72% of earnable compensation
_3. Safety Members
Effective 7-1-84 5.22% of earnable compensation
B. Employee Rates:
1. General Members - Tier I
Effective 7-1-84 36.79% of the basic full rates
2. General Members - Tier II
Effective 7-1-84 39.25% of the basic full rates
3. Safety Members
Effective 7-1-84 36.79% of the basic full rates
III. Interest to be Credited to Reserves
Effective 7-1-84 812% per annum, compounded semi-annually
IV. Rates are subject to modification due to Retirement Board and/or Board of
Supervisors' resolutions.
I hereby certify that this is a true and correct copy of
Orig. Dept.: Retirement an action taken and entered on the minutes ;7e
CC: Director of Personnel Board of Superets son the date shown.
Auditor-Controller ATTESTED: --
County Counsel COUNTY CLERK
County Administator J•R. O SON'
and ex officio Clerk of the Board
l�
8 __�'I � Deputy
P y
RESOLUTION NO. 84/329
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COUNTY OF CONTRA COSTA
General Members' Contributions Rates*
TIER I - Section 31676.11 TIER II - Section 31751
BASIC C.O.L. BASIC C.O.L.
Excess of Excess-ol
First $350 Monthly First $350 Monthly Total Total
Entry of Monthly Compensation of Monthly Compensation Monthly Monthly
_Age Compensation over $350 Compensation -over $350 COmpensation Compensation
16 4.36% 6.54% 1.60% 2.41% 2.46% .97%
17 4.36 6.54 1.60 2.41 2.46 .97
18 4.36 6.54 1.60 2.41 2.46 .97
19 4.36 6.54 1.60 2.41 2.46 .97
20 4.36 6.54 1.60 2,41 2,46 .97
21 4.36 6.54 1.60 2.41 2,46 .97
22 4.37 6.55 1.61 2.41 2.46 .97
23 4.37 6.56 1.61 2.41 2.46 .97
24 4.38 6.57 1.61 2.42 2.47 .97
25 4.39 6.59 1.62 2.42 2,48 .97
26 4.41 6.62 1.61 2.44 2.49 .98
27 4.43 6.64 1.63 2.44 2.50 .98
28 4.45 6.67 1.64 2.45 2.51 .99
29 4.47 6.70 1.64 2.46 2.52 .99
30 4.49 6.74 1.65 2.48 2.53 .99
31 4.51 6.77 1.66 2.49 2.54 1.00
32 4.54 6.81 1.67 2.51 2.56 1.00
33 4.56 6.84 1.68 2.52 2.57 1.01
34 4.59 6.88 1 ,69 2.53 2:59 1.02
35 4.62 6.93 1,70 .2.55 2.61 1.02
36 4.65 6.97 1.71 2.56 2.62 1.03
37 4.68 7.02 1.72 2.58 2.64 1.04
'38 4.71 7.07 1.73 2.60 2.66 1.04
39 4.75 7.12 1.75 2,62 2.67 1.05
40 4. 78 7.17 1.76 2.64 . 2.69 1.06'
41 4.81 7,22 1.77 2.66 2.71 1.06
42 4.85 7.28 1.78 2,68 2.73 1.07
43 4.89 7.33 1.80 2.70 2.76 1.08
44 4.93 7.39 1.81 2.72 2.78 1.09
45 4.97 7.45 1.83 2.74 2.80 1.10
46 5.01 7.51 1.84 2.76 2.82 1.11
47 5.05 7.58 1.86 2.79 2.8S 1.12
48 5.09 7.64 1.87 2.81 2.87 1.13
49 5.14 7.71 1.89 2.84 2.90 1.14
50 S.19 7.78 1.91 2.86 2.93 1.15
51 5.23 7.85 1.92 2.89 2.95 1.16
52 5.29 7.93 - 1.95 2.92 2.98 1.17
53 5.33 8.00 1.96 2.94 3.01 1.18
54 & Over 5.39 8.08 1.98 2.97 3.04 1.19
*As a percentage of salary (full contribution rates) .
**Equal to 36. 79% of basic full contribution rate
***Equal to 39.25% of basic full contribution rate
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COUNTY OF CONTRA -COSTA
Safety Members' Contribution Rates- *
Section 31664
Entry Age Basic C.O.L.**- .
21 $ Under 7.56% 2.78%
s ,
22 7.58 2.79
23 7.61 2.80
24 7.64 2.81
25 7.69 2.83
26 7.74 2.85
27 7.80 2.87
28 7.87 2.90
29 7.94 2.92
30 8.01 2.95
31 8.10 2.98
32 8.18 3.01
33 8.27 3.04
34 8.36 3.08
35 & Over 8.45 3.11
*As a percentage of salary (full contribution rates) ; 8?% interest and 6-3/4%
salary scale assumptions.
**Equal to 36.79% of basic full contribution rates.
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