Title
Approval of TCRS Employer Contribution Rate
Body
SUMMARY: The City of Crossville pays an employer contribution rate to TCRS each month. The rate at present is 10.61% and will end June 30, 2022.
The new rate starts July 1, 2022 and it has been computed at 11.87%. The Finance Director recommends that the City pays 13% to allow for any short falls that TCRS may encounter this year and any going forward.
BUDGET ACCOUNT: Various Departments
Recommended Action
NECESSARY COUNCIL ACTION: Approve the 13% TCRS Employer Contribution Rate