RECOMMENDATION(S):
AUTHORIZE the Auditor-Controller to make pension prepayments for employees in the Contra Costa County Department of Child Support Services from the General Fund (100300) beginning July 1, 2018.
FISCAL IMPACT:
It is estimated that the general fund will lose approximately $15,000 per year by subsidizing DCSS's pension prepayment. The Contra Costa County community will positively benefit by saving approximately $100,000 per year. These funds will be used by DCSS to provide client services.
BACKGROUND:
The County has prepaid the employers’ share of pension costs for the Contra Costa County Department of Child Support Services (DCSS) since DCSS’s inception. The County benefits from pension prepay with a current savings of just under one percent (0.9696). DCSS has benefited by spending less on pension costs, which allows the department to spend more for services.
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