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Current Needs - 401(k) Plan <br />^ Board adopted contribution far general government (non-sworn law enforcement} in <br />1998-99 <br />^ Presently $20 per pay period ($520 annually} and 5% for law enforcement <br />^ Has encouraged employees to participate <br />401(k) County Contribution <br />^ Contributions of other area local government employers significantly stronger <br />^ Next chart shows examples in terms of dollars for an employee making $35,000 <br />salary <br />$35,000 Salary <br />Additional Supplemental <br />Retirement Dollars <br />Chart <br />Pay and Benefits <br />Options and Costs <br />^ Report Section G illustrates how a pay and benefits package might be configured to <br />address the needs <br />Summary <br />^ Classification and Pay Study built the necessary foundation to maintain the workforce <br />the County needs <br />^ Critical to move forward to sustain this work force <br />Commissioner Halkiotis asked for the total dollar amount that the County contributes <br />towards 401 (k}. Elaine Holmes said that the annual County cost is $345,000. This includes <br />permanent full-time and part-time employees who are not sworn law enforcement officers. <br />Commissioner Halkiatis made reference to page $ of the report regarding contributions <br />of other municipalities and counties. He said that he is feeling guilty about this. He asked about <br />the recommendation. Elaine Holmes said that there are several options - a $5 increase or an <br />increase of 1 °~. <br />Commissioner Gordon said that after the Board considered the Classification and Pay <br />Study, they followed the staff recommendation for how to implement the system. Therefore she <br />thought the Board had tried to do the right thing. She said that, historically, there has been a <br />compression problem, and she remembers that when they instituted the classification and pay <br />system, there was some element that could exacerbate the compression problem. She asked <br />far a reminder about this. Elaine Holmes said that when the Board adopted the pay plan they <br />adopted phases one, two, and three to help address the compression issue. However, when <br />the system was implemented, the employees were classified and also the pay levels were <br />increased. Thus mare employees ended up at the bottom of their salary range. <br />Commissioner Gordon made reference to page F-2 and the orange bar for 401 (k} <br />contributions, and said that it looks very low. She said that there seem to be higher priorities, <br />such as the in-range salary increase. <br />