Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Pensions Retirement topic
No spam. Unsubscribe anytime.
Board adopts Tulare County retirement contribution rates; small employee rate reduction and modest employer increase reported
Summary
The board approved actuarially recommended retirement contribution rates for the coming fiscal year, adopting option one to implement rates effective the pay period that includes July 1, 2025. County employer contributions rise modestly; employee contributions were reported as nearly flat with a 0.06% reduction overall.
The Tulare County Board of Supervisors unanimously approved retirement contribution rates as recommended by the Tulare County Employees Retirement Association (TCERA) and chose Option 1 to implement the new rates beginning with the pay period that includes July 1, 2025 (pay period 15).
Leigh Ann Mallison of TCERA presented actuarial results and said total plan sponsor contributions are expected to increase by about 0.33% for the coming fiscal year. She attributed the rise primarily to demographic losses and an investment return shortfall, and noted that the county’s employer rate is comparatively lower in some measures because of prior pension obligation bond contributions. Mallison said employee contribution rates are essentially unchanged overall, with an approximate 0.06% reduction tied to stable plan demographics and actuarial assumptions.
County administrative staff recommended adopting Option 1 to open discussions about potential prepayment discounts with the county’s CAO and retirement board. After brief remarks from the CAO’s office encouraging the board to adopt the earlier effective date, Vice Chair Dennis Townsend moved to approve Option 1; the motion passed unanimously.
What the board did: adopted retirement contribution rates and selected the earlier effective date, enabling staff to pursue prepayment discussions if desired; no employee‑specific rate increases were imposed beyond minor actuarial adjustments.
