TO: Board of Supervisors
FROM: Mendocino County Employees Retirement Association
MEETING DATE: April 6, 2021
DEPARTMENT CONTACT:
Doris Rentschler
PHONE:
463-4328
DEPARTMENT CONTACT:
Judy Zeller
PHONE:
463-4328
ITEM TYPE: Regular Agenda
TIME ALLOCATED FOR ITEM: 30 min
AGENDA TITLE:
title
Discussion and Possible Action Including Acceptance of the Mendocino County Employees Retirement Association Actuarial Valuation for the Fiscal Year Ending June 30, 2020, and Adoption of Retirement's Board Recommended Retirement Contribution Rates for Fiscal Year 2021-22
(Sponsor: Mendocino County Employees Retirement Association)
End
RECOMMENDED ACTION/MOTION:
recommendation
Accept the Mendocino County Employees Retirement Association Actuarial Valuation for the fiscal year ending June 30, 2020; and adopt the Retirement Board's recommended retirement contribution rates for fiscal year 2021-22, as contained within the report.
End
PREVIOUS BOARD/BOARD COMMITTEE ACTIONS:
Actuarial reports are submitted annually for acceptance and approval of the recommended contribution rates by the Board of Supervisors.
SUMMARY OF REQUEST:
Segal Consulting prepared an Actuarial Valuation for MCERA as of June 30, 2020. The report is being presented to the Board of Supervisors with a recommendation from the Retirement Board, pursuant to Government Code Section 31453 (a), to set the employer and employee contribution rates for fiscal year 2021-22 as computed and recommended by Segal Consulting.
ALTERNATIVE ACTION/MOTION:
None. Government Code Section 31454 (a) states that the Board of Supervisors shall "adjust ... rates of
contributions of members, and county and district appropriations in accordance with (emphasis added) the recommendation of the board (of retirement)..."
SUPERVISORIAL DISTRICT: ALL
VOTE REQUIREMENT: Majority
SUPPLEMENTAL INFORMATION AVAILABLE ONLINE AT: WWW.MENDOCINOCOUNTY.ORG/RETIREMENT
FISCAL DETAILS:
SOURCE OF FUNDING: Co...
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