Pension Plan

For information regarding the Board of Trustees, management of the Pension Fund or the Annual Report, please contact Virgil Moon, Chairman, Board of Trustees, Cobb County Employee’s Pension Fund.

Jim Pehrson
Phone: (770) 528-1505
email

For information regarding benefits and administration of the Pension Plan, please contact Tony Hagler, Administrator of the Pension Plan.

Tony Hagler
Phone: (770) 528-2564
email

Cobb County Government Employees' Pension Plan

Summary Report June 2012
Summary Report March 2012
Summary Report December 2011

Reports to the Board of Commissioners:
View 2012 Report
View 2011 Report
View 2010 Report
View 2009 Report
View 2008 Report

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In 2009, the Board of Trustees for the Cobb County Government Employees’ Pension Plan made recommendations to address the growth in liabilities versus the assets of the plan. The final goal of the Board of Trustees and the Board of Commissioners was to find a balance between making certain the plan remains fiscally stable while providing our employees with excellent benefits.

The recommendations for the New Hybrid Defined Benefit/Defined Contribution Plan were approved by the Cobb County Board of Commissioners on October 13th, 2009. Effective January 1, 2010, all new employees will automatically be enrolled in this new Plan. In addition, non-vested employees had a one-time option to elect enrollment in this new Plan. The deadline for election for non-vested employees is January 29, 2010.

Please choose the appropriate link to view Frequently Asked Questions:
Enhanced Pension Plan effective April 1, 1998
(For vested employees hired prior to January 1, 2010)

Enhanced Pension Plan Retirement Calculator
3-Year Calculator
5-Year Calculator

New Hybrid Defined Benefit/Defined Contribution Plan
(For all employees hired after December 31, 2009, and those non-vested employees who elected this Plan).
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457 Deferred Compensation

Contribution limits are determined by the Internal Revenue Service (IRS). The table below shows the retirement plan contribution limitations applicable for 2012.

Limitations	2013
457
Annual Deferral Limit for 457 Plans	$17,500
"Pre-Retirement" Catch-Up Limit	$17,500
"Age 50" Catch-Up Limit	$5,500
401
401 Defined Contribution Plans - Annual Additions (415(c)(1)(a))	$51,000
401 Defined Benefit Plans -Maximum Annual Benefit* (415(b)(1)(a))	$195,000
401 Annual Compensation Limit**(non-grandfather/grandfather) (401(a)(17))	$245,000/ $360,000
Annual Deferral Limit for 401 (k) Plans (402(g))	$17,500
401(k)"Age 50" Catch-Up Limit (414(v))	$5,500
IRA
Maximum Annual Addition	$5,500
"Age 50" Catch-Up Limit	$1,000

*Special limitations apply to defined benefit plans. Please contact your defined benefit plan administrator should you require additional information.

**OBRA 1993 provided a governmental exception for the maximum compensation limit that grandfathers certain employees under the 1993 compensation limit of $235,840. Employees eligible to participate in a governmental plan, utilizing the ICMA-RC plan document, prior to January 1, 1994, are subject to the maximum compensation limit of $235,840 as indexed and shown above as the "grandfather" limit. Employees eligible to participate in a governmental plan, utilizing the ICMA-RC plan document, after January 1, 1994, are subject to the maximum compensation limit of $150,000 as indexed and shown above as "non-grandfather" limit.

Questions?
ICMA Retirement Corporation: (404) 943-0062 or (800) 669-7400
www.icmarc.org

Human Resources Benefits Division: (770) 528-2548

Forms & Resources
ICMA-RC 457 Deferral Amount Change

ICMA-RC 457 Employee Information Change

ICMA-RC Fund Sheet (Information Only)

ICMA-RC Trustee-to-Trustee Transfer to the ICMA Retirement Corporation Packet

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Roth IRA

Cobb County offers a Roth IRA administered by ICMA Retirement Corporation. Saving through a Roth IRA allows employees to withdraw earnings on a tax-free basis, assuming certain conditions are met. Employees have access to their principle savings anytime without taxes or early withdrawal penalties.

Roth IRA
Eligible Employees	Full and part time
Minimum Contribution	$10 per bi-weekly (post-tax)
Maximum Contribution	Per IRS Regulations (currently $5,000 annually)
Enrollment Period	Year-Round
Principal Withdrawal Period	Year-Round
Principal and earnings withdrawal age restriction	Principal can be withdrawn at any time without penalty To withdraw earnings, must be age 59 1/2 and have a minimum of 5 years in plan
Group # 705408

Questions?
Human Resources Benefits Division: (770) 528-2549
ICMA Retirement Corporation: (770) 287-1327 or (800) 669-7400

Forms & Resources
ICMA-RC Roth IRA Payroll Deduction Authorization

ICMA-RC Roth IRA Application (Start-Up Application)

ICMA-RC Roth IRA Fund Sheet (Information Only)

IRA Withdrawal Form

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2013 Board of Trustees Meeting Schedule
The Cobb County Retirement Board of Trustees, hereby designates the following dates of its regular Board meetings for the calendar year 2012. Meetings will be held in the Board of Commissioner's Meeting Room, 3rd Floor, 100 Cherokee Street, Marietta, GA 30090.

Monday, January 28, 2013, 8:00 a.m.
3rd Floor BOC Board Room

Tuesday, May 20, 2013, 8:00 a.m.
3rd Floor BOC Board Room

Monday, June 17, 2013, 8:00 a.m.
3rd Floor BOC Board Room

Tuesday, August 6, 2013, 7:30 a.m.
3rd Floor BOC Board Room

Tuesday, September 17, 2013, 8:00 a.m.
3rd Floor BOC Board Room

Tuesday, November 5, 2013, 8:00 a.m.
3rd Floor BOC Board Room