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Policy for County Contribution for Commissioners' Benefits
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Policy for County Contribution for Commissioners' Benefits
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Last modified
10/14/2013 4:04:08 PM
Creation date
9/27/2013 3:25:06 PM
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BOCC
Date
11/3/1999
Meeting Type
Regular Meeting
Document Type
Others
Agenda Item
8i
Document Relationships
Agenda - 11-03-1999 - 8i
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\Board of County Commissioners\BOCC Agendas\1990's\1999\Agenda - 11-03-1999
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3 <br /> 5. Supplemental Retirement <br /> Presently Commissioners may join and make a voluntary supplemental retirement <br /> contribution to the Deferred Compensation (457) plan as may County employees. The <br /> County makes no contribution for employees to the Deferred Compensation 457 plan. <br /> The County makes a $15 per pay period($390 annually) supplemental retirement <br /> contribution for each permanent, non-law enforcement employee to the State 401(k) <br /> Plan. The State 401(k) plan advises that that Commissioners are not eligible to <br /> participate in that plan and that it is necessary to be a member of the Local Government <br /> Employees' Retirement System in order to participate. <br /> Under the draft policy, the County would make the same supplemental retirement <br /> contribution to the 457 plan for each County Commissioner that it makes to the 401(k) <br /> plan for each permanent employee, since Commissioners may not participate in the <br /> 401(k) plan. Because employer contributions to a 457 plan require a matching social <br /> security contribution for that benefit [unlike the 401(k) plan employer contribution], the <br /> estimated cost shown under Financial Impact includes the matching social security. <br /> 6. Flexible Spending Accounts and Supplemental Insurance <br /> Presently Commissioners may participate in Flexible Spending Accounts (Medical or <br /> Dependent Care) and Supplemental Insurance (Life, Accident, Disability) by making a <br /> voluntary contribution on the same basis as County employees. The draft policy makes <br /> no change in this handling. <br /> Financial Impact: The estimated annual cost for the County contribution for health, dental <br /> and life insurance and a supplemental retirement contribution for County Commissioners is <br /> show below. The estimate is based on health and dental rates effective January 1, 2000 <br /> and assumes all Commissioners participate in a plan. <br /> Benefit Coverage Annual County Cost Total Annual Cost <br /> Per Commissioner <br /> Health $2,399 to $4,319* $11,995 to $21,595* <br /> Dental $166 $830 <br /> Life $35 to $45 $190 <br /> Supplemental Retirement(457) $420 $2,100 <br /> Total $3,020 to $4,950 $15,115 to $24,715 <br /> * Depending on coverage type selected (individual, individual/children, individual/spouse, <br /> individual/family). <br /> Recommendation: The Manager recommends the Board approve the attached policy <br /> effective July 1, 2000. <br />
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