Discussion and possible action on proposed District Employee Retirement Plan with Texas County and

Staff Report & Agenda Item Details

Discussion and possible action on proposed District Employee Retirement Plan with Texas County and District Retirement System. Recommendations from committee of Tom McDonald, Bryan Russ, and Kent Watson. A motion was made by Kent Watson, second by, David Stratta to approve the retirement plan with Texas County and District Retirement System recommendation from the committee at an employee rate of seven (7) percent, District matching rate 235 percent and prior service a hundred percent and eight-year eligibility option on vesting, the rule of 75, which would also include retirement at 30 years at any age. With the cost of the District would be about 12.38 percent each month, depending on salaries at that percentage and then it approves an unfunded liability of $9,413.00. The committee recommendation is that the District approve and pay $9,413.00. This commences from the date the employee starts employment. The motion passed unanimously.

This motion is scored as EXPANDS_GOVERNMENT (Impact Weight: 4.2/10). Under the Bastiat Liberty Watchdog Index, measures that increase tax rates or fee schedules, issue new debt or Certificates of Obligation, expand regulatory/zoning restrictions on private land use, or authorize unbudgeted spending expansions reduce an official's Freedom Score when voted YES (and reward dissenting NO votes).