RECOMMENDATION(S):
Acting in its capacities as the Board of Supervisors and the Contra Costa County Fire District Board, ADOPT Resolution No. 2015/445 making Government Code section 31870 (Two Percent Cost of Living Adjustment to Retirement Benefit) applicable to safety employees in specified units, who become new members of the Contra Costa County Employee Retirement Association in the PEPRA Retirement Tier on or after January 1, 2016
FISCAL IMPACT:
Implementation of a change in the Cost of Living Adjustment (COLA) to the pension benefit for employees in the specific units of Probation Management, Fire Management, and AFSCME, Local 512, who become new members of CCCERA on or after January 1, 2016, in the PEPRA Retirement Tier, is intended to result in long term savings for both the employees and the County.
BACKGROUND:
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