RECOMMENDATION(S):
ACCEPT actuarial valuation of future annual costs of proposed changes to Other Post-Employment Benefits, fixing the County health and dental care premium subsidy at the December 2011 dollar amount for employees represented by or retired from classifications that were represented by the Deputy Sheriffs’ Association, as provided by Buck Consultants in letter of October 26, 2011.
FISCAL IMPACT:
As shown in the valuation, the result of the health plan changes described herein, if implemented, will create a $98.4 million or 9.58% decrease in the Actuarial Accrued Liability and a $7.7 million or 12.46% decrease in the calculated Annual Required Contribution.
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