Commissioners Court - Regular Session

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17.

Meeting Date:	07/08/2014
TCDRS
Submitted By:	Rebecca Clemons, County Judge
Department:	County Judge
Agenda Category:	Regular Agenda Items

Information

Agenda Item

Discuss, consider, and take appropriate action regarding 2015 TCDRS Employer Contribution Rate.

Background

The mandatory full time and part time employee contribution is 7% of gross pay. Employees are vested after 8 years of service. To be eligible for retirement an employee must follow the rule of 75 (age plus years of service), be of age 60 plus 8 years of service, or have 30 years of service regardless of age.

The 2014 TCDRS Employer contribution rate is 12.78%. This included a 1% flat rate COLA for retirees.

The contribution rate for 2015 is 12.52%. If a COLA is added for the retirees the rates would be as follows:

1% flat rate COLA 12.6%
2% flat rate COLA 12.68%
60% of CPI based COLA 12.81%

Fiscal Impact

From/To	Acct No.	Description	Amount

Attachments
No file(s) attached.

Form Review

Inbox	Reviewed By	Date
County Judge Exec Asst.	Wendy Coco	07/02/2014 10:25 AM
Form Started By: Rebecca Clemons		Started On: 07/02/2014 09:10 AM
Final Approval Date: 07/02/2014