HomeMy WebLinkAboutMINUTES - 04031990 - 1.46 1-046
TO: BOARD OF SUPERVISORS s_ L
Contra
FROM:
Costa
Phil Batchelor, County Administrator
DATE: March 26 1990
�r° County
� �'9 C'UUN�
SUBJECT: LEGISLATION: AB 3875 (Baker)
SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION
RECOrIIIENDATION
Adopt a position in SUPPORT of AB 3875 by Assemblyman Baker which
would grandfather existing employees of PERS and 1937 Act
Counties for purposes of federal limits on retirement benefits as
is required by federal law in order to retain the tax exempt
status of the retirement plans.
BACKGROUND:
Existing federal income tax laws provide special benefit
limitations for public retirement plans. Public retirement plans
risk loss of their federal tax-exempt status unless they elect to
be bound by specified benefit payment limitations. A public
retirement plan may elect to exempt members who became plan
participants prior to January 1, 1990 from these limitations if
the plan also elects to be bound by these limitations for all
members who join on or after that date.
Assemblyman Baker has introduced AB 3875 at the request of the
County Supervisors Association of California. As introduced, AB
3875 would make the necessary elections on behalf of the Public
Employees Retirement System (PERS) and the counties (including
Contra Costa County) whose retirement system were established
pursuant to the County Employees' Retirement Law of 1937 .
Since passage of AB 3875 is necessary in order to protect the
vested rights of many county employees it is recommended that the
Board of Supervisors indicate its support for AB 3875 .
CONTINUED ON ATTACHMENT: NO YES SIGNATURE:
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
APPROVE OTHER
SIGNATURE(S): �Y� `"-i�'!/C
ACTION OF BOARD ON April ► APPROVED AS RECOMMENDED X OTHER
VOTE OF SUPERVISORS
I HEREBY CERTIFY THAT THIS IS A TRUE
x UNANIMOUS(ABSENT ) AND CORRECT COPY OF AN ACTION TAKEN
AYES: NOES: AND ENTERED ON THE MINUTES OF THE BOARD
ABSENT: ABSTAIN: OF SUPERVISORS ON THE DATE SHOWN.
CC: ATTESTED APR R' 3 1990
Assemblyman William P. Baker PHIL BATCHELOR,CLERK OF THE BOARD OF
County Administrator
Retirement Administrator SUPERVISORS AND COUNTY ADMINISTRATOR
Les Spahnn, SRJ. Jackson, Barish & Assoc;._ _
M382 (10/88)
BY ,DEPUTY