Orange County NC Website
Previous Discussion <br />In prepazation for the October 13, 1998 work session, the Boazd received a <br />comprehensive pay and benefits report. This included an extensive benefits <br />review and 401(k) Plan information. In support of the Board's discussion of <br />employee pay and benefits at the October 13 work session, then Boazd Chair <br />Mazgazet Brown presented a "Pay Proposal" (Attachment 1) for the Board's <br />consideration. This provided under "Additions to the Pay and Benefits <br />Plan:" <br />"To be established a 401-K plan effective July 1, 1999 - a county <br />match based on flat dollar amount of $15.00 per pay period" <br />In the October 13 work session the Board discussed the option of a County <br />match as compazed to anon-matching, across-the-boazd contribution. At the <br />conclusion of that work session, the Board adopted Commissioner Brown's <br />proposal including the $15 per pay period amount with the modification to <br />not make a decision about the in range increase amount until a decision was <br />made about the cost of living increase for 1999. Staff was not cleaz about <br />the end result of the Boazd's discussion of the matching vs. non-matching <br />401(k) contribution. The minutes for the October 13 work session <br />(Attachment 2) reflect anon-matching contribution. <br />In presenting the October 13 planned pay and benefits componerrts for the <br />Boazd's review and confirmation or clarification, staff presented the $15 <br />across-the-boazd contribution 401(k) County contribution as the last <br />understanding of the October 13 discussion outcome for the Board's <br />confirmation or clarification. <br />Updated 401(k) Plan Information <br />Attachment 3 to this abstract is the updated 401(k) information from the <br />October 1998 Pay and Benefits Report. The updates include: <br />^ Current numbers of employees voluntarily participating in the 401(k) <br />plan, including salary level information, and <br />^ Current numbers of other local government employers participating in <br />the 401(k) and the types of plans that they have (matching as compazed <br />to non-matching, percentage of salary as compazed to flat dollaz <br />contribution). <br />As part of the updating process, staff met again with the State 401(k) Plan <br />representative and reviewed in detail the types of 401(k) contribution <br />options available to the County. This indicated no change from the options <br />