Agenda - 05-11-1999 - 4 - Laserfiche WebLink

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Orange County Board of Commissioners Action Agenda Item No. Action Agenda Item Abstract Meeting Date: May 11,1999 Subject: Employee Pay and Benefits - Follow Up Report on 401(k) Plan Department: Personnel Public Hearing: (Y/N) No Attachment(s): Information Contact: 1 - "Pay Proposal' from October 13, 1998 Elaine Holmes, Personnel Director Employee Compensation Work Session Telephone Numbers: - - ext. 2550 2 - 401(k) Plan Information Updated from Hillsborough 732 -8181 October 1998 Pay and Benefits Report Chapel Hill 968 -4501 3- State 401(k) Plan letter confirming options Durham 688 -7331 4 - 401(k) Plan Options and Cost Estimates for Mebane 227 -2031 1999 -2000 Purpose: To receive an updated, comprehensive report on the State 401(k) plan and consider County contribution options for 1999 -00, as requested by the Board in the April 21 employee pay and benefits work session. Background: On April 21, 1999 the Board held a work session on employee compensation for 1999 -00. In that work session, the Board reviewed the planned pay and benefits components for 1999 -00 from its October 13, 1998 work session, including the plan to implement a County 401(k) Plan contribution effective July 1, 1999. In the April 21 work session, the Board reaffirmed its desire to implement a 401(k) contribution but wished to revisit the: ❑ Previous Board discussion related to the type of contribution and contribution amount, and ❑ 401(k) Plan information generally, including types of contribution options available to the County. Previous Discussion In preparation for the October 13, 1998 work session, the Board received a comprehensive pay and benefits report. This included an extensive benefits review and 401(k) Plan information. In support of the Board's discussion of employee pay and benefits at the October 13 work session, then Board Chair Margaret Brown presented a "Pay Proposal" (Attachment 1) for the Board's