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Consider recommendations regarding the Adoption of Fiscal Year (FY) 2021-2022 Employer and Member Contribution Rates, as follows:
a) Pursuant to Government Code Section 31454, adopt the Fiscal Year 2021-2022 employer and member contribution rates, recommended by Cheiron, the Santa Barbara County Employees Retirement System (SBCERS) actuary, and recommended by the Board of Retirement on December 9, 2020, with an effective date of July 1, 2021 or for the payroll cycle in which that date occurs;
b) Pursuant to Government Code Section 31873, elect to pay the portion of the normal cost of living adjustment that would be otherwise assessed to individual members who are not deemed to be new members pursuant to Government Code Section 7522.04(f), with an effective date of July 1, 2021 or for the payroll cycle in which that date occurs; and
c) Determine that the actions above are not a project under the California Environmental Quality Act (CEQA) pursuant to CEQA Guidelines Section 15378(b)(4), because they consist of government funding mechanisms or other government fiscal activities which do not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment.