File #: 12-00375    Version:
Type: Agenda Item Status: Passed
File created: In control: BOARD OF SUPERVISORS
On agenda: 5/15/2012 Final action: 5/15/2012
Title: HEARING - Consider recommendations regarding retirement benefits for general employees hired on or after June 25, 2012, as follows: (EST. TIME: 10 MIN.) a) Adopt a Resolution establishing a new retirement plan, Plan 7, for general non-safety employees hired on or after June 25, 2012; b) Consider the adoption (second reading) of an Ordinance implementing a 2% retirement Cost-of-Living-Adjustment (COLA) as part of Retirement Plan 7 for general member non-safety employees hired on or after June 25, 2012, and waive reading of the Ordinance in its entirety; and c) Adopt the employer and employee rates for Retirement Plan 7 for Fiscal Year 2012/2013 as previously adopted by the Santa Barbara County Retirement System (SBCERS) Board on April 25, 2012 and shown in the Fiscal Year 2012-2013 Employer and Member Contribution Rates for Retirement Plan 7. COUNTY EXECUTIVE OFFICER’S RECOMMENDATION: APPROVE
Sponsors: COUNTY EXECUTIVE OFFICE
Attachments: 1. Board Letter 5/8/12, 2. Ordinance 5/8/12, 3. Board Letter 5/15/12, 4. Resolution, 5. Ordinance, 6. FY 2012/2013 Retirement Plan 7 Member Contribution Rates
Title
HEARING - Consider recommendations regarding retirement benefits for general employees hired on or after June 25, 2012, as follows: (EST. TIME: 10 MIN.)
 
a) Adopt a Resolution establishing a new retirement plan, Plan 7, for general non-safety employees hired on or after June 25, 2012;
 
b) Consider the adoption (second reading) of an Ordinance implementing a 2% retirement Cost-of-Living-Adjustment (COLA) as part of Retirement Plan 7 for general member non-safety employees hired on or after June 25, 2012, and waive reading of the Ordinance in its entirety; and
 
c) Adopt the employer and employee rates for Retirement Plan 7 for Fiscal Year 2012/2013 as previously adopted by the Santa Barbara County Retirement System (SBCERS) Board on April 25, 2012 and shown in the Fiscal Year 2012-2013 Employer and Member Contribution Rates for Retirement Plan 7.
 
COUNTY EXECUTIVE OFFICER'S RECOMMENDATION: APPROVE