County & District Retirement System (TCDRS) regarding the current retirement plan and the

Staff Report & Agenda Item Details

The Board of Directors received a presentation from Erika Aguirre Vazquez of the Texas County & District Retirement System (TCDRS) regarding the current retirement plan and the various options for plan enhancements. During the presentation, Ms. Vazquez reviewed the materials provided in the board packet and offered a comprehensive overview of Agua SUD’s retirement plan, including two potential options to increase employee contribution percentages to either 6% or 7%. The Board of Directors posed several questions, leading to an extensive discussion among the Directors, Mr. Roberto Salinas, General Manager, Mr. Jaron Hudgins, Legal Counsel, Agua SUD staff, and Ms. Erika Aguirre Vazquez. The General Manager recommended discussing the retirement plan figures at the upcoming budget workshop once all data was available. The Board of Directors took no action on updating the employee contribution percentages for the Texas County & District Retirement System (TCDRS). The motion was made by Mrs. Ana Maria Perez and seconded by Mr. Gerardo Perez, and unanimously approved by the Board.