Discussion and possible action to approve the Texas County & District Retirement System (TCDRS) Plan Agreement for Plan Year 2023 with a retirement plan rate of 13.00% effective January 1, 2023, and any other matters incident thereto.
Issue: The current retirement plan for the County is 13.64%, TCDRS recommended rate for 2023 is 13.00% and employee contribution is 6.00%. The revisions must be made before December 15, 2022.
Solution: Approval of the recommended revisions at this time will help the County ascertain the impact on the 2023-2024 budget.
Result: Approval of these revisions will be within the TCDRS timeline and is in line with TCDRS employer’s recommended contribution rate.