Changes Made to New County Employee Retirement Plans
The Board of Supervisors voted to adopt changes to the retirement plans for new employee hires, changes that include a new retirement tier and a reduction in cost-of-living adjustment increases for all non-safety employees. The cost-of-living adjustment will decrease from 3 percent to 2 percent. The savings will be $219,000 for this coming fiscal year and are expected to grow to more than $4 million a year by 2021. The new plans will kick in for every employee hired after June 25.