RECOMMENDATION(S):
ADOPT Resolution No. 2020/283 as approved by the Retirement Board, which establishes retirement plan contribution rates effective July 1, 2021 through June 30, 2022.
FISCAL IMPACT:
See 'Background' below.
BACKGROUND:
At its October 14, 2020 meeting, the Retirement Board reviewed and accepted the actuary’s valuation report for the year ending December 31, 2019 and adopted the recommended employer and employee contribution rates, which will become effective on July 1, 2021. A copy of the December 31, 2019 Actuarial Valuation can be found on CCCERA’s website at www.cccera.org under the Actuarial Reports link.
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