FROM: Amy McInerny, Chief Financial Officer
SUBJECT: Benefits Policy No. 009 (Retiree Payroll Deductions and the Assignment of Benefits)
RECOMMENDATION:
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Recommend that the Board approve and adopt updates to Benefits Policy No. 009 (Retiree Payroll Deductions and the Assignment of Benefits).
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BACKGROUND:
General Policy No. 005 involves the periodic review of Board policies and indicates that the review shall be every three years.
Pursuant to General Policy No. 005, staff has conducted a review of Benefits Policy No. 009 (Retiree Payroll Deductions and the Assignment of Benefits).
Government Code sections 31452, 31897.6, and section 704.110 of the Code of Civil Procedure limits what is permitted to be deducted from benefits by the Board.
This policy revision adds “Medical” to the type of premiums that may be collected for Teamsters and SEBA. SBCERA has been previously collecting premiums for dental and vision for Teamsters. Beginning in February 2025, SEBA will begin collecting premiums from some of its retired members as part of its new medical trust. SEBA has requested that SBCERA collect these on their behalf from SBCERA members.
Inclusion of this section codifies the current practice of SBCERA.
BUDGET IMPACT:
None.
STRATEGIC PLANNING GOAL/OBJECTIVE:
Operational Excellence & Efficiency
STAFF CONTACT:
Amy McInerny
ATTACHMENTS:
Exhibit A: Benefits Policy No. 009 (Retiree Payroll Deductions and the Assignment of Benefits) - Redline Version
Exhibit B: Benefits Policy No. 009 (Retiree Payroll Deductions and the Assignment of Benefits) - Clean Version