Title
Consider General Manager recommendation to approve the 2027 amended plan agreement with the Texas County and District Retirement System for the plan year commencing January 1, 2027.
Body
STAFF RECOMMENDED MOTION:
Move the Board adopt Resolution and Order No. 11-26-159 of the Edwards Aquifer Authority Board of Directors approving the amended plan agreement with the Texas County and District Retirement System for the period January 1, 2027, through December 31, 2027.
SUMMARY:
The purpose of this agenda item is for the Board to consider an EAA staff recommendation to approve an amended plan agreement with the Texas County and District Retirement System (TCDRS). The proposed plan increases the employer match from 180% to 200%, effective January 1, 2027.
The EAA, and its predecessor agency, the Edwards Underground Water District (EUWD), has participated in TCDRS as a means to provide a defined-benefit pension plan for employees since 1978. Each year, before the January 1 start of the plan year, the EUWD and EAA boards have voted to adopt a TCDRS Plan Agreement, which establishes the benefits, retirement eligibility criteria, and employer required rate for that plan year.
The employer match rate of 180 percent has been in effect and remained unchanged since 1988. Considering that the EAA has achieved great success in carrying out its mission over its first 30 years due in large part to the development of a workforce representing an advanced scientific skillset, collaborative spirit, creativity, professionalism, integrity and mission stewardship that has set the EAA apart as a water management leader in the region and state, now is a good time to acknowledge past progress by further ensuring its continuation into the future, in part by enhancing our retirement benefit. Increasing the employer match rate from 180 percent to 200 percent conveys a message of confidence and acknowledges a commitment to the following:
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