Under a plan recommended to the Marin County Employees Retirement Association, pension costs for both Marin public employers and employees will go up. A consultant for the association, which includes Marin County, the city of San Rafael, the Novato Fire Protection District, Marin County Superior Court, the Marin City Community Services District, the Southern Marin Fire Protection District, the Marin Local Agency Formation Commission, the Marin/Sonoma Mosquito and Vector Control District and the Tamalpais Community Services District, will consider the proposal in December.
The proposal calls for a reduction in the assumed annual rate of return on retirement funds from 7% to 6.75%. That means employers and employees will have to kick in more per month into the retirement funds.
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