The Board adopted the resolution to hire an attorney for SamCERA due to the continued increase in the level and complexity of legal services required for SamCERA operations. Having in-house legal counsel is essential to quickly and appropriately addressing the ever-increasing wide range of legal issues facing public pension plans in general and SamCERA specifically. There has been a significant increases in the level and complexity of legal issues due to frequent changes in pension governing law arising from court decisions, legislation at both the state and national levels, increasing Internal Revenue Services and Securities and Exchange Commission involvement with public plans, increasing complexity of SamCERA’s investments, and pending changes to SamCERA’s benefit plans due to labor agreements.
In addition, SamCERA needs to replace its core pension estimate, calculation and database software, which will require legal validation of the rules imbedded in this new software along with legal review of the requirements of its website, plan documents, educational brochures, divorce decrees, benefit forms, RFP documents and contracts.
County Counsel has reviewed and approved this memo and the ordinance amendment.
Adoption of this salary ordinance amendment contributes to the Shared Vision 2025 goal of a Collaborative Community by approaching issues with fiscal accountability and concern for future impacts in achieving departmental process efficiencies and greater overall effectiveness.
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