Browse
Search
Agenda - 11-03-1999 - 8i
OrangeCountyNC
>
Board of County Commissioners
>
BOCC Agendas
>
1990's
>
1999
>
Agenda - 11-03-1999
>
Agenda - 11-03-1999 - 8i
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
10/17/2008 2:42:32 PM
Creation date
10/17/2008 2:42:31 PM
Metadata
Fields
Template:
BOCC
Date
11/3/1999
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
8i
Document Relationships
Minutes - 19991103
(Linked From)
Path:
\Board of County Commissioners\Minutes - Approved\1990's\1999
Policy for County Contribution for Commissioners' Benefits
(Linked From)
Path:
\Board of County Commissioners\Policies\1999
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
4
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
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 <br />Per Commissioner Total Annual Cost <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 />
The URL can be used to link to this page
Your browser does not support the video tag.