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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: October 3, 2017 <br /> Action Agenda <br /> Item No. 8-e <br /> SUBJECT: Resolution in Support of a One Percent (1%) Cost-of-Living Adjustment for the <br /> Local Government Employees Retirement System (LGERS) <br /> DEPARTMENT: Clerk to the Board, Community <br /> Relations, & County Manager <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Resolution Todd McGee, Director, Community <br /> Relations, (919) 245-2302 <br /> Commissioner Mia Burroughs, (919) 245- <br /> 2130 <br /> PURPOSE: To adopt a resolution encouraging the Board of Trustees of the North Carolina <br /> Local Government Employees Retirement System (LGERS) to approve a one percent (1%) <br /> cost-of-living adjustment (COLA) for LGERS members effective July 1, 2018. <br /> BACKGROUND: Fulltime Orange County employees participate in the North Carolina Local <br /> Government Employees Retirement System, which is managed by the North Carolina Office of <br /> the State Treasurer and governed by a Board of Trustees. The Trustees are responsible for <br /> setting the employer and employee contribution rates each year and for determining if a COLA <br /> will be provided to retirees. In 2017, the Trustees did not approve a cost-of-living adjustment for <br /> retirees. <br /> FINANCIAL IMPACT: There is no financial impact to Orange County associated with <br /> consideration of the resolution. <br /> SOCIAL JUSTICE IMPACT: There are no Orange County Social Justice Goals applicable to <br /> this item. <br /> RECOMMENDATION(S): The Manager recommends the Board adopt the attached resolution <br /> and authorize the Chair to sign the resolution. <br />