TO: Board of Supervisors
FROM: Christine Brice?o, Director of Human Resources
REPORT BY: Joy Cadiz, Staff Services Manager
SUBJECT: Adoption of a Resolution Authorizing a Matching Employer Contribution for the Benefit of 401(a) Retirement Savings Plan Participants for the 2024 Calendar Year
RECOMMENDATION
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Director of Human Resources requests adoption of a Resolution establishing a $1,600 Matching Employer Contribution for Management, Confidential, and Non-Classified Officers and Non-Classified employees who are participants in Napa County's 401(a) Retirement Savings Plan during calendar year 2024, a $600 Matching Employer Contribution for SEIU employees who are participants in Napa County's 401(a) Retirement Savings Plan during calendar year 2024, and a $900 Matching Employer Contribution for NCPPA employees who are participants in Napa County's 401(a) Retirement Savings Plan during calendar year 2024.
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EXECUTIVE SUMMARY
In 2002, the County established the 401(a) Retirement Savings Plan ("Plan") for the benefit of Management, Confidential, Non-Classified Officers, and Non-Classified employees. The Plan provides that the County may offer an Employer Contribution involving a Match ("Match") to be allocated to the 401(a) pre-tax sub-account of each eligible officer or employee. The Board of Supervisors must annually establish by resolution the maximum amount of the Match and the conditions under which the Match will be made. The Match Recommended by the County Executive Officer to me made available in 2024 for all for Management, Confidential, Non-Classified Officers, and Non-Classified employees who are participants in Napa County's 401(a) Retirement Savings Plan during calendar year 2024 is $1,600 per participant
In 2022, in its collective bargaining agreement with Service Employee International Union, Local 1021 (SEIU), the County agreed to provide a deferred compensation Match during the calendar year 2023 for the benefit of County employees who ...
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