Commissioners Court - Regular Session

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47.

Meeting Date:	12/23/2008
Submitted For:	Dan Gattis	Submitted By:	Ashlie Koenig, County Judge
Department:	County Judge

Information

Agenda Item

Discuss and consider approving a one time, lump sum employer contribution payment to TCDRS

Background

Each year TCDRS projects an employer contribution rate for the County to fund based on previous years' numbers. Because of the downturn in the economy, TCDRS is seeing some of the biggest losses in history, thus requiring counties to increase their following years' contribution anywhere from 1 to 6 points. In order to stabilize this rate, it would be most beneficial to make a one time, lump sum payment to "soften the blow" in the 2009-2010 budget, impacting our rates over the next 10 years. This payment must be made before the end of the calendar year in order for it to impact our 2010 rates. The amount of this one time, lump sum payment is $406,916.

Fiscal Impact

From/To	Acct No.	Description	Amount

Attachments
TCDRS
2010 Rates
Elected Rates

Form Review

Inbox	Reviewed By	Date
County Judge Exec Asst.	Wendy Coco	12/18/2008 11:47 AM
Form Started By: Ashlie Holladay		Started On: 12/18/2008 11:35 AM
Final Approval Date: 12/18/2008