ORDER NO. 31087
KERB COIINT`Y PLAN PROVISION FOR PLAN YEAR 2009 WITH TEXAS
COIJN'TY AND DISTRICT RETIREMENT SYSTEM (TCDRS)
Came to be heard this the 10th day of November, 2008, with a motion made by
Commissioner Williams, seconded by Commissioner Baldwin, the Court unanimously
approved by a vote of 4-0-0 to:
Adopt and certify Kerr County Plan Provision for Plan Year 2009 with Texas County and
District Retirement System (TCDRS), (Proposed Plan 1, which includes CPI-based 50
percent COLA for retirees, and the 230 percent contribution rate by the County to apply
to future deposits only).
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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
MEETING DATE: November 10, 2008
OFFICE: County Judge
TIME PREFERRED. "~
SUBJECT: Consider, discuss and take appropriate action to adopt and certify Kerr
County plan provision for Plan year 2009 with Texas County and District Retirement
System.
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:
@ .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.
5:00 PM previous Tuesday
Kerr County, #232
Rate inforrnation for proposed plan provision Changes
Plan year 2049
Current Plan Proposed
Plan I
Plan Provisions:		
Employee deposit rate	7%	7%
Matching rate	210%	230%
Past and future deposits !future deposits*		Future Deposits
Prior service credit	145%	145%
Vesting	8 yeazs	8 years
Rule of	75	75
Eligible at X yeazs and any age	30 years	30 years
COLA**	N/A	CPI-based 50
Credit for military service	Yes	Yes
Partial lump sum	Yes	Yes
Buyback***	N!A	No
Pian Rates:		
1. Normal cost rate	6.97%	7.55%
2. UAAL rate	2.14%	2.47%
3. Total requued rate for 2009****	9.11%	10.05%
4. Rate difference between proposed and current plan		0.94%
5. Elected rate		
Plan Assets & Liabilities:		
6. Present value of future benefits	$ 26,939,064	$ 27,736,024
?. Present value of future normal cost contributions	$ 4,943,056	$ 5,379>443
8. Aquaria( accrued liabilities (Line 6 -Line 7)	$ 2],996,008	$ 22,356,581
9. Aquarial value of assets	$ 19,612,015	$ 19,612,015
10. Unfunded or (metfimded) actuarial accrued liability		
[UAAL or (OAAL)) (Line 8 -Line 9)	$ 2,383,993	$ 2,744,566
11. Funded ratio (Line 9/Line 8)	89%	88%
12. Amortization period	15.0 years	15.0 years
* The matching rate can never be lowered for employee deposits that have already been made.
** The last COLA adopted was aCPI-based 50% COLA effective 2008.
*** The last buyback was aurhoriud in 2007.
*'** Required rate for 2008: 9.08%.
Please contact TCDRS if you have any questions or for any additional information regarding changing benefit plan options.
800-82~-7782 * WWW.TCDRS.ORC Oct. 2O, 2CEQ8
Kerr Caunty, #232
Ac~thorizatian to change'fCE~RS Plan provisions
Plan year 20a9
The following order concerning the participation of Kerr County in the Texas County & District Retirement System (TCDRS) for the
2009 plan year was adopted in open session on , 2008.
1. With respect to the plan provisions currently applicable to its members, Kerr County makes the following changes:
Effective Jan. 1, 2009, the employer matching rate is increased to 230% of the employee's deposits. The increased employer
matching percentage shall be used as the matching rate under Section 843.403 only for those employee deposits made after the
effective date of this order.
2. With respect to annuities paid to its retirees or their beneficiaries, Kerr County adopts aCPI-based 50% COLA.
3. Kerr County adopts an annually determined contribution rate plan with the following rate for the 2009 plan year: the total
required employer contribution rate of 10.05%.
4. Except as modified by this order or by law, the plan provisions previously adopted by this Commissioners Court of Kerr County
relating to participation in TCDRS remain in effect and are continued.
5. In the event the 2009 total required rate as set out above exceeds 11%, and if a current waiver of that limit is not on fle with the
retirement system, the Commissioners Court of Kerr County hereby waives the 11 % limit on the rate of employer contributions
and such waiver will remain effective with respect to future plan years until properly revoked by official action.
Certification
I certify that the foregoing order concerning the participation of Kerr County in the Texas County & District Retirement System for
th 2009 plan yeah truly and accurately reflects the official action taken during a properly posted and noticed meeting on
~~~Q{~rpaC~1L, 2008, by the Commissioners Court of Kerr County as such action is recorded in the official minutes.
Kerr County
Dated: / , 1't~C«G~.- ~ (~ ~ 1''°~~
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