FROM: Colin Bishop, Chief of Member Services
SUBJECT: Approve updates to Benefits Policy No. 023 (Adjustment to the Pensionable Compensation Limit Policy)
RECOMMENDATION:
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Approve updates to Benefits Policy No. 023 (Adjustment to the Pensionable Compensation Limit Policy).
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BACKGROUND:
General Policy No. 005 involves the periodic review of Board policies and indicates that the Administrative Committee review Administrative and Benefit policies every three years. Accordingly, SBCERA staff has reviewed Benefits Policy No. 023 (Adjustment to the Pensionable Compensation Limit Policy), and recommends two minor changes, outlined below:
1. Addition of language to acknowledge that employees at the Law Library participate in Social Security.
2. Addition of language that would allow the CEO’s designee to perform the duties outlined under the “Guidelines.”
No other changes are recommended.
Attached as Exhibit A is a redlined version of the proposed changes.
COMMITTEE REVIEW:
This item was reviewed by the Administrative Committee at its October 17, 2019 meeting and recommends Board approval, with a 3-0 vote. Trustee Bracco was absent from the meeting.
BUDGET IMPACT:
None.
STRATEGIC PLANNING GOAL/OBJECTIVE:
Operational Excellence & Efficiency
STAFF CONTACTS:
Colin Bishop
Amy McInerny
ATTACHMENTS:
Exhibit A: Proposed Benefits Policy No. 023 (Adjustment to the Pensionable Compensation Limit Policy) - Redline