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COUNTY OF SAN MATEO
Inter-Departmental Correspondence
San Mateo County Employees’ Retirement Association
(SamCERA)
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DATE:
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January 5, 2011
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BOARD MEETING DATE:
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January 25, 2011
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SPECIAL NOTICE/HEARING:
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None
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VOTE REQUIRED:
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Majority
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TO:
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Honorable Board of Supervisors
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FROM:
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Scott Hood, Assistant Executive Officer, SamCERA
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SUBJECT:
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Approval of Amendments to the Regulations of the Board of Retirement Regarding Election of Trustees, Purchase of Credit for Public Service and Disability Retirement
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RECOMMENDATION:
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Adopt a Resolution approving amendments to the Board of Retirement regulations which: (1) amend regulation 3.11 and 3.13 of Article III “Election of Trustees”; (2) amend regulations 5.1(e)(f), 5.3(b) and 5.6 of Article V “Disability Retirement”; and (3) repeal and replace Article VI “Purchase of Credit for Public Service” consisting of regulations 6.1 through 6.7.
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BACKGROUND:
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The San Mateo County Employees’ Retirement Association is governed by the County Employees Retirement Law (“CERL”) contained in the Government Code. Government Code section 31525 authorizes the Board of Retirement to adopt regulations that are consistent with CERL. Section 31525 further provides that the regulations become effective when approved by the Board of Supervisors.
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DISCUSSION:
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Article III of the regulations of the Board of Retirement sets forth the election procedures for those trustees that are elected by the active and retired members. The Board of Retirement has determined that the Elections Officer should be authorized to conduct these elections electronically. The amendment to regulation 3.11 will provide for the distribution of ballots via an electronic voting system. Regulation 3.13 governs the qualification of the membership voters and the amendment will permit the Elections Officer to confirm voter eligibility in the event ballots are distributed electronically.
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Article V of the regulations governs the processing of applications for disability retirement. The Board of Retirement has determine that regulations 5.1, 5.3 and 5.6 should be amended to provide further clarification relating to the submission of information by the applicant and the scope of the hearing. These changes will preserve the rights of disability applicants, while allowing for timely processing of the applications.
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Finally, the Board of Retirement determined the regulations contained in Article VI relating to the purchase of service credit should be revised in preparation for SamCERA’s tax determination letter submission. Currently, the regulations primarily address the procedures for the purchase of military service. The amendments address all permitted types of purchases of service credit and the procedures to complete such purchases. The amendments also set forth the available payment options for members. The regulations limit these payment options to: lump sum after-tax payments, after-tax payroll deductions, pre-tax rollover contributions and plan-to-plan transfers.
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Approval of this resolution contributes to the Shared Vision 2025 outcome of a Collaborative Community by approaching issues with fiscal accountability and concern for future impacts.
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FISCAL IMPACT:
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None.
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