RECOMMENDATION(S):
ADOPT Resolution No. 2011/458 applying health plan modifications to certain persons retired from classifications represented by the Deputy Sheriffs' Association at the time of retirement.
FISCAL IMPACT:
As shown in the attached valuation, the result of the health plan changes described herein, if implemented, will create a $27.2 million or 2.65% decrease in the Actuarial Accrued Liability (AAL) and a $1.8 million or 2.93% decrease in the calculated Annual Required Contribution. These figures represent the changes for both active and retired individuals.
BACKGROUND:
On November 1, 2011, the Board of Supervisors received a report on the County's other post employment benefits regarding proposed future costs/savings of changes in other post employment benefits. At that meeting, staff from the County Administrator's office announced that the County Administrator would be recommending that the Board consider taking formal action with respect to proposed changes in health care affecting:
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