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HEARING - Consider recommendations regarding the 2008-09 Grand Jury Report on Santa Barbara County Employees' Retirement System, as follows: (EST. TIME: 15 MIN.)
a) Adopt the responses, as the Board of Supervisors' responses to the 2008-2009 Grand Jury Report entitled Santa Barbara County Employees' Retirement System;
b) Approve and authorize the Chair to execute the letter forwarding the responses to the Presiding Judge; and
c) As per the Boards response to the Grand Jury, adopt as County policy the relevant portions of Recommendation 13 of the Public Employee Post-employment Benefits Commission report as follows:
i) Consistent with past practices, all pension or OPEB benefit changes will be publicly noticed;
ii) An actuarial valuation will continue to be performed on any changes which, by law, require a valuation and the County's actuary will be available to answer questions regarding the valuation and provide additional information at the public hearing; and
iii) Pension-related benefit changes submitted for adoption by the Board of Supervisors will be placed on the Board Agenda as a departmental item.
COUNTY EXECUTIVE OFFICER'S RECOMMENDATION: APPROVE
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