ORDER NO.3 O S 64
ADOPT TCDRS PLAN FOR 2008
Came to be heard this the 8th day of October, 2007, with a motion made by
Commissioner Williams, seconded by Commissioner Letz. The Court
unanimously approved by vote of 3-0-0 to:
File with the TCDRS our Plan for 2008, to be what we have in place to this point,
plus the 50% Cola as adopted last month for Retirees.
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COMMISSIONERS' COURT AGENDA REQUEST
PLEASE FURNISH ONE ORIGINAL AND TEN (10) COPIES OF THIS
REQUEST AND DOCUMENTS TO BE REVIEWED BY THE COURT
MADE BY: Judge Tinley OFFICE: County Jud r°~
MEETING DATE: October 8, 2007 TIME PREFERRED:
SUBJECT: Consider, discuss and take appropriate action to adopt TCDRS plan for
2008.
EXECUTIVE SESSION REQUESTED: (PLEASE STATE REASON)
NAME OF PERSON ADDRESSING THE COURT: Judge Tinley
ESTIMATED LENGTH OF PRESENTATION:
IF PERSONNEL MATTER -NAME OF EMPLOYEE:
Time for submitting this request for Court to assure that the matter is posted in
accordance with Title 5, Chapter 551 and 552, Government Code, is as follows:
Meeting scheduled for Mondays:
THIS REQUEST RECEIVED BY:
THIS RQUEST RECEIVED ON:
5:00 PM previous Tuesday
@, .M.
All Agenda Requests will be screened by the County Judge's Office to determine if adequate
information has been prepared for the Court's formal consideration and action at time of Court
Meetings. Your cooperation will be appreciated and contribute towards your request being
addressed at the earliest opportunity. See Agenda Request Rules Adopted by Commissioners'
Court.
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YOUR BENEFITS
Basic Benefit Provisions:
Employee deposit rate - 7%
Matching rate - 190%
Prior service credit -145%
Retirement Eligibility:
Age 60 with 8 years ofservice
Any age with 30 years of service
Rule of 75 (age plus years of service equals 75)
Survivor Annuity Death Benefit:
Beneficiary is eligible for a monthly payment when member has
four years of service.
Cost-of-Living Adjustments (COLAs) for retirees:
Your last adopted COLA was a 50% CPI-based COLA in
2007.
Optional Benefit Provisions:
• Military service - If your employees have earned at least 8
years of service with TCDRS, they can be credited with
up to 60 months of military service.
• Buyback -You last passed a buyback authorization in
2007.
• Partial lump-sum payment- This allows an employee to
withdraw part of his or her TCDRS account balance as a
lump sum at retirement.
WHAT YOU ARE PROVIDING
Under your plan, each employee makes deposits into his or her personal TCDRS account by paying in a percentage of each paycheck.
Employee accounts earn 7% interest each year, which is compounded annually based on the account balance at the beginning of the year.
If one of your employees chooses to receive a retirement benefit, TCDRS adds the employee's personal account balance to matching and
other credits you provide as an employer. We then convert that sum into a monthly annuity, payable for life.
The following chart shows the estimated TCDRS benefit as a percentage of final salary prior to retirement for a new hire:
120%
100%
80%
60%
40%
20%
0%
Assumptions
• Employees aze new hires and will work for you until retirement.
• Your current plan provisions will remain in effect through employee's retirement.
`~ • Current laws governing TCDRS will continue as they aze.
• Graded salary scales give bigger raises early in careers, with smaller raises later in careers (see Summary Valuation Report at www.tcdrs.org).
• Based on single-life standazd benefit.
a % of
800-823-T782 * WWM/.TCDRS.ORC 2 Apr. 20, 2007
Hired at 55 Hired at 50 Hired at 45 Hired at 40 Hired at 35
Retired at GS Retired ac 65 Retired at 65 Retired at GS Retired at 65
YOUR COSTS
Your employer contribution rate represents the percentage of payroll your organization needs to contribute to fund future benefits for
your current employees, former employees and retirees.
`~ ~T'o determine your plan cost for 2008:
Your calculated contribution rate for 2008 ~ '1
Plus the rate for any COLA granted +
2008 COLA Costs
Total Required Rate
(Add the two rates together)
Divide by 100 to convert % to number
Multiply by your 2008 estimated
compensation For enrolled employees x
Your estimated annual plan cost =
Example: County X has a calculated contribution rate of 7%. They
have elected a COLA that will add 0.25% to their cost. With
compensation for enrolled employees totaling $1,000,000, their
annual cost would be calculated as follows:
County X's calculated contribution rate 7.00
Plus the rate for any COLA granted + .25
Total required rate 7.25
Divide by 100 to convert % to number .0725
Compensation for enrolled employees x 1,000,000
~ County X's estimated annual plan cost $ 72,500
COLAs must be re-authorized each year. They are not "automatic". IE
you wish to authorize a COLA for the next plan year, you can estimate
the cost based on the schedule of rates below:
30% 1
40% 1 1
u SO% 1 1
i; 6o°r° 1
b
v
`~ 70% 1
~.
V
80% 1 ~ 1%
c
90% 1 u 2%
100% w 3%
%
of payroll of payroll
Below is a record of your required employer contribution rate history over the last five years.
10%
8%
6%
4%
2%
0%
2004
2005
2006
2007
2008
REASONS FOR RAPE CHANGE	2004-2005	2005-2006	2006-2007	2007-2008
Beginning Rate	7.97%	7.90%	7.60%	8.51 %
Plan Changes Adopted	0.29	0.00	0.39	N/A
Investment Rerurn	-0.20	0.00	0.00	OAO
Elected RatelLump Sum	0.00	0.00	0.00	0.00
Demographic/Other Changes	-0.16	-0.12	-0.08	-0.14
Assumptions/Methods	0.00	-0.18	0.60	-0. l7
~~
Ending Rate	7.90%	7.60%	8.51%	$.20%
A complete Summary Valuation Report for the Dec. 31, 2006 valuation is available on the Web.		

800-823-7782 * WWW.TCDRS.ORC		
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