HomeMy WebLinkAbout11.b. Update on letter to CCCERA requesting comment period before future changes to assumptions11.b.
Central Contra Costa Sanitary District
Protecting public health and the environment 5079 Imhoff Place, Martinez, CA 94553-4392
June 13, 2016
Gail Strohl, Chief Executive Officer
CCCERA
1355 Willow Way, Suite 221
Concord, CA 94520
Dear Ms. Strohl:
PHONE: (925) 228-9500
FAX: (925) 676-72/1
www.centralsan.org
ROGER S BAILEY
General Manager
KENTON L ALM
Conine!far the Drama
OM) 808-2000
I:LANNER. ROE.HM1
Secretary of the District
This letter is being sent to you on behalf of the Board of Directors of the Central Contra
Costa Sanitary District (CCCSD). Every three years, the Contra Costa County
Employees' Retirement Association (CCCERA) Board of Trustees conducts two sets of
studies which review both the economic and demographic assumptions that are then
utilized by CCCERA to calculate pension costs.
As these critical studies and the Board of Trustees adoption of the economic and non-
economic assumptions directly impact our contribution rates, we are requesting that
CCCERA provide us as well as all plan sponsors ample time to review the actuarial
experience studies. Currently, the studies are posted along with the board agendas
about 72 hours before the meeting. This does not provide any governing body or
agency staff enough time to review the complex studies and articulate a position on any
of the recommendations and provide comments to the CCCERA Board of Trustees.
Since these are policy decisions made by the Board of Trustees, each agency's
governing board should be able to carefully review, evaluate and comment on the
issues which will take more than 72 hours. I would appreciate your consideration of a
revised timeline to allow for this review and input. Since the adoption of the
assumptions by the Board are not reflected in the contribution rates until approximately
a year before the rates go into effect, allowing plan sponsors a reasonable amount of
time to review the assumptions should not place an undue burden and hardship on the
Board of Trustees or CCCERA staff related to the administration of the rates.
If you have any questions or require additional information, please do not hesitate to
contact me at (925) 229-7309.
cerely,
Teji O'Mall
Human Resources Manager
cc: R. Bailey
A. Sasaki
BOARD OF DIRECTORS
1ADJ. PILECK!. President • PAUL H CAUSE. Y, !'resident Pro Tear • MICHAEL R McGILL • JAMES A. NEIEDLY • DAVID R. WILLIAMS
1 Recycled Paper