Title
Chief Administrative Office recommending the Board receive and file a presentation from Bartel Associates regarding the County's CalPERS Retirement Plans and the impacts of recent plan changes adopted by the CalPERS Board of Directors. (Est. Time: 1 Hr.)
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DEPARTMENT RECOMMENDATION
Chief Administrative Office recommending the Board of Supervisors receive and file a presentation from Bartel Associates regarding the County's CalPERS Retirement Plans and the impacts of recent plan changes adopted by the CalPERS Board of Directors.
DISCUSSION / BACKGROUND
The California Public Employees Retirement System benefit plans have been a focus of discussion and decision-making for most jurisdictions, and the status of the County’s pension plans have a current and long-term impact on the County and its budget. Given the importance of this issue, as well as the system-wide changes that the State Legislature and the CalPERS Board have implemented in recent years, it is helpful to receive a information on these changes and an analysis of the potential impacts to El Dorado County. The Chief Administrative Office recently contracted with Bartel Associates, a subject matter expert, to prepare and present information regarding CalPERS and the County’s pension plans.
A brief overview of the plan changes was provided by a representative from Bartel Associates at the Mid-Year Budget Review presentation in February of this year. This purpose of the May 16th presentation is to share additional details and fiscal impact estimates relative to the CalPERS discount rate change.
CAO RECOMMENDATION
It is recommended that the Board receive and file the presentation.
FINANCIAL IMPACT
There is no direct financial impact related to the presentation. However, CalPERS retirement plan cost increases affect all departments which employ full-time, regular staff.
CLERK OF THE BOARD FOLLOW UP ACTIONS
None.
STRATEGIC PLAN COMPONENT
Good Governance.
CONTACT
Don Ashton, Chief Admin...
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