Commissioners Court Meeting

Issue viewing agenda items? Click here to switch to the old format.

Return to the Minutes Page

11.

Meeting Date:	09/14/2015
TCDRS Plan Agreement for Plan Year 2016
Submitted for:	Rose Magana	Submitted By:	Rose Magana
Department:	Commissioners Court

Subject:

Discussion and possible action to approve the Texas County & District Retirement System (TCDRS) Plan Agreement for Plan Year 2016 with a retirement plan rate of 10.40% effective January 1, 2016. This plan rate includes a Consumer Price Index (CPI) and Cost of Living Adjustment (COLA) for current retirees. [Requested by Tano Tijerina, Webb County Judge]

Issue: The current retirement plan rate for the county is 10.50%. There is a surplus of funds in this retirement account that would allow for the county to reduce the percentage rate down to 10.25% for 2016. The recommendation, however, is to set the rate for 2016 to 10.40% to allow the cost of living adjustment for retirees and utilize the surplus of funds without having a financial impact to the county.

Solution: This cost of living adjustment will help all retirees restore their purchasing power.

Result: The plan rate goes down by .10% from 2015 to 2016.

Background:

n/a

Previous Court Action:

Fiscal Impact

Budget Account Number:	n/a
Funding Source:	n/a
Balance:	n/a
Financial Impact:
n/a

Attachments
TCDRS Plan Agreement 2016
esri Renewal Quotation - Executed