HomeMy WebLinkAboutMINUTES - 04281992 - 12 NOON H-Noon
THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, CALIFORNIA
Adopted this Order on —April 28, 1992 by the following vote:
AYES: Supervisors Powers, Fanden, Torlakson, McPeak
NOES: None
ABSENT' Supervisor Schroder
ABSTAIN: None
I
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SUBJECT: Meeting "of the Board of Supervisors and the
Retirement Board
The Board of Supervisors met with the Retirement Board at the
George Gordon Center, 500 Court Street, Martinez, California, and
discussed the following issues:
* Formula agreed on for the use of the surplus earnings of
the Retirement System, how the formula worked in 1991 and
how it is projected to work in 1992.
* Portfolio Asset Allocation and changes which have been
in the Retirement Association's portfolio of holdings in
the past year.
* Progress in fully funding the retirement system.
* Threat of "raids" on the Pension Fund.
* Retiree concerns: a) Cost of living objectives;
b) Health care costs.
* Retirement Administrator's salary and who has the
authority to fix such a salary.
Following the presentation of Patricia Wiegert, Administrator
of the Retirement Association, there was discussion on the issues
as noted. There was agreement on the need to develop a policy for
setting the salary. of the Retirement Administrator. The
Supervisors expressed an interest in obtaining information on the
feasibility of investing in construction projects for single family
housing and historical information on the Consumer Price Index
(CPI ) and Social Security. Cost of Living (COL) increases.
Therefore, IT IS BY THE BOARD ORDERED that Chair Sunne W.
McPeak of the Board of Supervisors and Chairman Richard Cabral of
the Retirement Board are REQUESTED to develop a policy for setting
the salary of the Retirement Administrator.
IT IS FURTHER ORDERED that the Retirement Board is REQUESTED
to review the feasibility of investing in the construction phase of
single family housing projects.
IT IS FURTHER ORDERED that the Retirement Administrator is
REQUESTED to prepare for presentation at the next joint meeting of
the Board of Supervisors and the Retirement Board historical data
on the CPI and Social Security COL for retirees.
cc: Chair Sunne W. McPeak I hereby certify that this Is a true and correct copy of
Chairman Richard Cabral an action taken and entered on the minutes of the
Board of Supervisors on the date shown.
County Administrator ?G, ,2,p, /9
Retirement Administrator ATTESTED: ,
PHIL BATCHELOR,Clerk of the Board
of
Supervisors and County Administrator
By Q _fig'2_7C_A- ,Deputy