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Home My WebLink About06.a.2) CCCERA update�O.Q• 2� Central Contra Costa Sanitary District April 7, 2011 TO: HONORABLE BOARD OF DIRECTORS VIA: JAMES M. KELLY, GENERAL MANAGER FROM: RANDALL M. MUSGRAVES, DIRECTOR JADMINISTRATION SUBJECT: CONTRA COSTA COUNTY EMPLOYEES' RETIREMENT ASSOCIATION (CCCERA) 3/30/2011 BOARD MEETING Attached is a copy of the March 30, 2011 CCCERA Board meeting agenda and the associated agenda item material. Of particular interest is agenda item #6. The item addresses Contra Costa County's request for actuarial information for study on pension plan options. #6 Consider and take possible action on County request for release of actuarial information for study on pension plan options, Item #6 is a request from the County to obtain the latest actuarial data for the County to prepare cost estimates of various negotiating proposals. The CCCERA Board directed staff and the Actuary, Segal Company, to provide the information. In addition, the CCCERA Board directed staff to prepare a procedure for processing data requests that can be handled without coming to the CCCERA Board. District staff will provide input to the CCCERA staff and Board to support faster processing of data requests. Items #8 and #9 were approved per staff recommendation and the report was accepted for item #10. District staff was informed that the letter dated March 4, 2011 to Chairperson Jerry Telles will be placed on the April 13, 2011 CCCERA Board agenda. The letter was not placed on the March 30, 2011 meeting because that meeting is designated for investment review. Staff will be available to answer any questions the Board may have. cS�� Bn p loyees' Fbtire m ent Association 1355 willow wav suite 221 concord ca 94520 925.52 RETIREMENT BOARD MEETING SECOND MONTHLY MEETING 9:00 a.m. March 30, 2011 1.3960 fax 925.646.5747 Retirement Board Conference Room The Willows Office Park 1355 Willow Way Suite 221 Concord, California THE RETIREMENT BOARD MAY DISCUSS AND TAKE ACTION ON THE FOLLOWING: 1. Pledge of Allegiance. 2. Accept comments from the public. 3. Approve minutes from the March 9, 2011 meeting. 4. Presentation from Pathway Capital, LLC on Pathway Private Equity Fund Investors 6. 5. Consider and take possible action on staff recommendation for investment in Pathway Capital, LLC. Private Equity Fund Investors 5. 5. Consider and take possible action on County request for release of actuarial information for study on pension plan options. CLOSED SESSION 7. The Board will go into closed session under Govt. Code section 54956.9(b). OPEN SESSION S. Consider and take possible action regarding staff request to contract with a professional recruiting firm to fill the position of Retirement Deputy CEO. 9. Consider and take possible action on staff recommendation for a Benefits Coordinator position. 10. Presentation of 2010 Administrative costs - Actual vs. Budget. 11. Consider authorizing the attendance of Board and/or staff: a. Annual Meeting, Energy Investors Fund, May 1-- 4, 2011, Carefree, AZ. The Retirement Board will provide reasonable accommodations for persons with disabilities planning to attend Board meetings who contact the Retirement Office at least 24 hours before a meeting (3/21/20 1 1). Maril Leedom - Ri� for Asil tih'ce - Pe'6sion Man Option Project Pa From: Lisa Driscoll To: Maril Leedom Date: 3/812011 1:48 P Ni Sub Re for Assistance - Pension Plan Option Project Attachments: 201 1 03081 33603974.pdf Maril MEETING DATE MAR 3 0 2011 AGENRA Attached is our re for information from Se for our pension project. Please let me know when the will be able to provide the information. Thank y ou ....... Lisa Lisa Driscoll, Count Finance Director Contra Costa Count Administrator's Office P 335-1023, F 646-1353 buckconsultanta February 25 2011 4 Lisa. Driscoll s County Finance Director Contra Costa County Office of the Administrator 651 P "e Street, j o" Floor Martine, CA 94553-1291 P Dear Lisa, A Xerox company RECEAM FEB 2 s ?011 C F cauNW aDMIs I IaMA In connection to Buck's engagement to perform an analysis of pension plan options for the Contra Costa County Employees" Rairement Association, we need to reproduce the December 31 P 2009 actuarial valuation. We require your assistance in gathering the following information from the retirement Association's actuary: • A complete copy of the fi nzI census data used m the December 31, 2009 valuatiorL Please include data file layouts and dude tables for coded Fields. • Fxhibits fflustrating (fail] age, service or calendar year tables for all economic and demographic assurnpf.ons used in the December 31, 2009 valuation. The following metrics should be provided by benefit structure (Tier 1, Tier 3, Fier A, Tier Q, contingency (qr, qw, qcL qi), and valuation group (active,, in pay status, deferred) where applicable 1. Present value of Future Benefits at entry age 2. Present value of Future Benefits at valuati an age 3. Present Value of Future Salary at entry age 4. Present value of Future Salary at valuation age 5 . Entry Age Normal method total normal cost 6. Expected member contributions used to determine omployer normal cost 7. Eatry Age Non - aa.l method actuarial accrued liability 8. Present value of Accrued Benefits • Sample life test cases from each Tien with a teary by participant of the present value of mature benefits, present value of accrued benefits, EAN liability and normal cost, split by decrement if avaWible, and the present value of future salary. 1 1 Ceram Pat East Suite 50D 1 Los Angeges, CA 90067 310.282.8232 } 31 DM.0381(fax) Please have tlae actuary provide this infonnatx on via e-mail to Ronald.Thompson@Buckeonsultants.com if any of the information is available electromcaUy. Please feel free to send requesW items as they become available. Let us know if you have any aluesdons or comments, and we thank you in advance for your cooperation.. Very truly yours, Harold A. ameb ASA, MAAA3, EA Principal and Consulting Actuary -W9;' buckoonsultants MEETING DATE MEMO Date: March 30, 2011 To: CooERA Board of Retirement From: Maxi lyn Leedom, Chief Executive Officer Subject: Deputy Chief Executive Officer (DCEO) Recruitment MAR 30 2011 AGENDA ITEM � R ecommendation: Authorize Staff to Contract with a Professional Recruit rent F irm to Identify and Pre screen Candidates, and Assist in the Recruitment for Deputy Chief Executive Officer Position. Two key aspects of administering public service systems that operate in perpetuity are succession planning and historical knowledge retention. CCCERA is facing serious issues in both these respects. 1. Two of our most experienced managers, both the Benefits Manager and the Accounting Manager will be retiring in the very near future. our Accounting Manager has already given notice that March 3o, 2011 will be his last day as a permanent employee at COGERA. We are working with County Human Resources to effect recruitments for those positions. 2. Our Deputy Chi ef Executive O fE cer position is vacant. Combined with the Accounting and Benefits Manager positions, three crucial., executive level positions need to be famed expeditiously. OCOERA has managed exempt position recruitments internally in the past. However, this process has been time and labor intensive. The workload for our existing employees at all levels is increasing as system members at large wake decisions about their futures. In the interests of efficiency, a prudent course to 'successfully identify qualified candidates for the DOEO position is by retaining are experienced executive search. firm. After discussion with the Board Chair, and in the interests of expediently filling the vacant position, COCERA issued a Request for Information to professional recruiting firms. I respectfully request the Board of Retirement authorize staff to contract with a professional recruitment firm after review of Lette of Interest (RFI) to Identify and Pare - screen candidates and assist m the recruitment for Deputy Chief Executive Officer. MEMO I MEETING DATE Date: March 3Q, 2011 MAR 3 0 2011 AGENDA ITEM To: CCCERA Board of Retirement I ---- -V�l � From: M arilyn Leedom, Chief Executive Officer Subj ect: Request for New Position Recommendation.* Create a Second Benefits Coordinator Position Background: The en.efits Division combines Member Services (supporting service audit functions, statistical reporting, terminations, employer demographics, certifications and enrollments), and Benefits (which includes retired and active counseling services, retiree payroll, benefit estimates, divorce and disability processing). Currently one Program Coordinator supervises all employees in both these areas. However, workload and job duties have changed since the inception of our pension system.. In the 2008 Administrative budget we described the need for an additional Benefits Coordinator position, both to oversee the more detailed workload of the Member Services section, and as a part of our succession pl. arming. As a part of our internal review for the IRS Fetter of Betennination application, it became apparent that the addition of this position would be beneficial to C C CBRA to improve the audit compliance functions. Although the position was approved with the 2005 budget, we have not included a budgeted salary amount for this position since that time. Over the last few years, the Board has strongly requested staffing towards succession planning . CCCBRA's management team has remained strong, daunted only by the task of increasing age and retirement possibilities, which have only been hastened by changes to benefit l evels and possible changes to salaries. Currently the Benefits Department has one Coordinator, responsible for supervising and monitoring the work of approximately 15 positions, while problem solving and performing much of the hands on work. The Benefits Department can easily be divided in two main areas: Retirement Counselors, both active and retiree, and Member Services. The number of employees m each area is approximately equal. While our current job description identifies key issues of both positions, the intent is to have more in depth oversight over the member services side of the business, which includes certifications of new hires, termination refunds, employer electronic data monitoring and auditing, tax compliance, and review and cleansing of all data due to audits. r uj #/ LU Q -- W p � F 00 0 � Odom Q Li W W 00 LO MM r N 0 ,*., Awe L a- 40 CD = ' m Q i O (0 T"" C) c M CO 0o 0 qr- CF) 00 0 � ov 0 [0 0 00 LO 0 ft Lo .. C .. 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