Commissioners Court - Regular Session
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24.
Meeting Date:
06/09/2015
2016 TCDRS Contribution Rate
Submitted For:
Tara Raymore
Submitted By:
Tara Raymore, Human Resources
Department:
Human Resources
Agenda Category:
Regular Agenda Items
Information
Agenda Item
Discuss, consider and take appropriate action regarding the 2016 TCDRS Employer Contribution Rate
.
Background
The mandatory full-time and part-time employee contribution rate is 7% of the employees gross pay. Employees are vested after 8 years of service. To be eligible to retire an employee must follow the rule of 75 (age plus years of service), be atleast 60 years old with 8 years of service or have 30 years of service regardless of age.
The 2015 TCDRS employer contribution rate is 12.81% which included a 60% CPI based COLA.
The required contribution rate for 2016 without a COLA is 12.46%. With a 60% CPI based COLA the required rate is 12.50%.
Fiscal Impact
From/To
Acct No.
Description
Amount
Attachments
Plan Comparison
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Form Review
Inbox
Reviewed By
Date
County Judge Exec Asst.
Wendy Coco
05/28/2015 12:01 PM
Form Started By:
traymore
Started On:
05/28/2015 09:26 AM
Final Approval Date:
05/28/2015
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