File #: 13-00046    Version: 1
Type: Agenda Item Status: Passed
File created: In control: BOARD OF SUPERVISORS
On agenda: 1/8/2013 Final action: 1/8/2013
Title: Consider recommendations regarding Retirement Benefits for Employees Hired on or after January 1, 2013, as follows: a) Adopt a Resolution implementing the new retirement plan mandated by the State of California, which will become County Retirement Plan 8, for both general and safety employees hired on or after January 1, 2013; b) Adopt the employer and employee rates for Retirement Plan 8 for Fiscal Year 2012/2013 and Fiscal Year 2013/2014 as previously adopted by the Santa Barbara County Employees Retirement System (SBCERS) Board on December 12, 2012; and c) Approve the amendment to the County’s 401 (h) Plan.
Sponsors: COUNTY EXECUTIVE OFFICE
Attachments: 1. Board Letter, 2. Attachment A - Plan 8 combined Resolution, 3. Attachment B - Milliman Plan 8 Rates, 4. Amendment, 5. Final Executed Amendment No. 2
Title
Consider recommendations regarding Retirement Benefits for Employees Hired on or after January 1, 2013, as follows:
 
a) Adopt a Resolution implementing the new retirement plan mandated by the State of California, which will become County Retirement Plan 8, for both general and safety employees hired on or after January 1, 2013;
 
b) Adopt the employer and employee rates for Retirement Plan 8 for Fiscal Year 2012/2013 and Fiscal Year 2013/2014 as previously adopted by the Santa Barbara County Employees Retirement System (SBCERS) Board on December 12, 2012; and
 
c) Approve the amendment to the County's 401 (h) Plan.