Item Title: | 2019 Retirement Rate Approval - El Paso C Plan Agreement |
Submitted By: | Wallace Hardgrove, Executive Director, Budget and Fiscal Policy Department (915) 546-2262 |
Subject: | Approve and authorize the County Judge to sign the 2019 Texas County & District Retirement System (TCDRS) Plan agreement. |
Background: | During the August 14, 2018 budget hearings, the court discussed and gave the staff direction to budget the TCDRS annually determined contribution rate (ADRC) of 16.97% which in effect discontinued the pay down towards the unfunded actuarially determined liability. This rate should allow the County to achieve a 90% plan funding rate by approximately December of 2021 based on the current market conditions and assumptions being made in the TCDRS model. |
Fiscal Impact: | Approximately $27,830,800 |
Recommendation: | Approve the County Judge to sign the plan agreement. |
Prior Action: | N/A |
Strategic Plan: | .. |
Strategic Plan Information: | |