DATE: February 7, 2017
TO: Board of Supervisors
SUBMITTED BY: Eulalio Gomez, Chair
Fresno County Employees' Retirement Association
Personnel Committee
SUBJECT: Fresno County Employees' Retirement Association Salary Resolution Amendment
RECOMMENDED ACTION(S):
TITLE
Approve Salary Resolution Amendment to adjust the flat annual salary of the Retirement Administrator for Fresno County Employees' Retirement Association as reflected on Appendix "D", effective February 13, 2017 and July 3, 2017.
REPORT
Approval of the recommended action will increase the salary of the Retirement Administrator as requested by the Fresno County Employee' Retirement Association (FCERA) Board of Retirement on December 21, 2016.
ALTERNATIVE ACTION(S):
If the recommended action is not approved, the salary level will remain unchanged.[DK1]
FISCAL IMPACT:
Budget appropriations for this position are included in the approved FCERA budget for fiscal year 2016-17 and are included as part of the retirement contribution rates charged to members and plan sponsors. When compared to statutory expenditure limits, FCERA is at 12.7 basis points, well below the limit of 21 basis points (or 0.21% of plan liabilities).
DISCUSSION:
FCERA provides a variety of complex services focusing on the administration and oversight of over $4 billion dollars in assets, retirement benefits to over 17,500 plan members, and five plan sponsors. The system works with other retirement systems to ensure the integration of retirement benefits, investigates claims for disability benefits, processes monthly retirement benefits and demographic changes to over 7,000 retired recipients, monitors changes in statutory and regulatory requirements that impact the operation of the retirement program, and maintains the contribution and service records for over 10,000 active and deferred members.
The FCERA Personnel Committee conducted an evaluation of the Retirement Administrator's performance and completed a compensation s...
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