Agenda - 10-03-2017 - 8-e - Resolution in Support of a One Percent (1%) Cost-of-Living Adjustment for the Local Government Employees Retirement System (LGERS)

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2 RES-2017-062 ORANGE COUNTY BOARD OF COMMISSIONERS RESOLUTION SUPPORTING A ONE PERCENT (1%) COST-OF-LIVING INCREASE FOR MEMBERS OF THE LOCAL GOVERNMENT EMPLOYEES RETIREMENT SYSTEM FOR 2018-19 WHEREAS, the Orange County Board of Commissioners recognizes the important contributions made to the County by retired employees; and, WHEREAS, increasing costs for such necessities as healthcare and long-term care are impacting many of our retirees, who live on a fixed income; and, WHEREAS, the Board of Trustees of the Local Government Employees Retirement System did not include an adjustment for cost-of-living increases in 2017; and, WHEREAS, the current inflation rate for the United States is 1.9% for the 12 months ended August 2017, as published by the U.S. Labor Department; NOW, THEREFORE, be it resolved that the Orange County Board of Commissioners encourages the Local Government Employees Retirement System to include a 1 percent cost-of- living adjustment for retirees when it meets in January 2018; BE IT FURTHER RESOLVED that the Orange County Board of Commissioners directs the Clerk to the Board to share this resolution with the North Carolina Association of County Commissioners and all counties in the state. This the 3rd day of October 2017. Mark Dorosin, Chair Orange County Board of Commissioners