Membership in California Public Employees’ Retirement System (CalPERS)
For new PERS members, salaries above a limitation imposed by federal law (current limit per IRS is $146,042), neither the County nor the employee will make contributions to PERS on the portion of salary that exceeds the limit. If you were a member prior to January 1, 2013, the limit is $330,000 for 2023. These limits are subject to change. Link to the memo.
39 days per calendar year (312 hours) - effective 7/10/23
Annual Leave “Cash-Out” Program
Members of the County Executive Leadership team are eligible to cashout half of the alloted 312 hours within the calendar year.
Plus, an additional 13 paid holidays per calendar year and available Administrative Leave.
Term Life Insurance coverage with an additional $300,000 accidental benefit provided by the County! (effective 7/10/23)
Tax-advantage life and financial benefits
Health Flexible Spending Account
Deferred Compensation Plan (Fidelity 457)
A 457 deferred compensation plan allows you to invest money for retirement with tax benefits. The County’s 457 plan is designed to supplement your regular retirement income. While your CalPERS pension and/or Social Security may go a long way, they are unlikely to fully fund your retirement. In addition, pre-tax contributions into the 457 plan reduce your current taxable income for the year. These contributions and all associated earnings are not subject to income tax until you withdraw them.
Dependent Care Assistance Program
The DCAP program allows you to set up a special account for paying dependent care services, which are necessary for you to work, with tax-free dollars. It’s a smart and convenient way to save on these expenses. Through the program, you may reimburse yourself expenses related to: (1) The care for your dependent children under age 13. (2) The care for another dependent who is physically or mentally incapable of caring for him/herself; this includes elder day care.