Discussion and possible action to approve the Texas County and District Retirement System (TCDRS) 415 Agreement; and authorizing the County Judge to sign all relevant documents and any other matters incident thereto.
Issue: Currently, Section 415 of the Internal Revenue Service (IRS) amended the limitation cap of the total amount of annual retirement benefit payments
Solution: Adopting TCDRS 415 Agreement will allow the county to make up for payments that would have been reduced by Section 415.
Result: Adoption of this Agreement, will place the county in compliance with TCDRS and IRS Mandates.