FROM: Amy McInerny, Chief Financial Officer
SUBJECT: Benefits Policy No. 026 (Compensation Earnable and Pensionable Compensation Assessment)
RECOMMENDATION:
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Approve and adopt updates to Benefits Policy No. 026 (Compensation Earnable and Pensionable Compensation Assessment).
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BACKGROUND:
General Policy No. 005 involves the periodic review of Board Policies and indicates that the Administrative Committee shall review administration policies every three years.
Pursuant to General Policy No. 005, staff has conducted a review of Benefits Policy No. 026 (Compensation Earnable and Pensionable Compensation Assessment) and has found it both consistent with current practice and appropriate for SBCERA's program. Staff is therefore recommending renewal of Benefits Policy No. 026 without change.
COMMITTEE REVIEW:
This item was reviewed by the Administrative Committee at its meeting on September 19, 2024, and recommends Board approval with a 4-0 vote.
BUDGET IMPACT:
None.
STRATEGIC PLANNING GOAL/OBJECTIVE:
Operational Excellence & Efficiency
STAFF CONTACT:
Amy McInerny
ATTACHMENTS:
Exhibit A: Benefits Policy No. 026 (Compensation Earnable and Pensionable Compensation Assessment)