Cobb County Government
Human Resources
 
COBB COUNTY GOVERNMENT 
 
 

altCobb County Government Employees' Pension Plan

Reports to the Board of Commissioners:

View 2014 Report
View 2013 Report
View 2012 Report
View 2011 Report
View 2010 Report
View 2009 Report
View 2008 Report


Enhanced Pension Plan effective April 1, 1998
(For vested employees hired prior to January 1, 2010)

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


457 Deferred Compensation

Contribution limits are determined by the Internal Revenue Service (IRS).  The table below shows the retirement plan contribution limitations applicable for 2015.

 

Limitations 2016 2015 2015
457
Annual Deferral Limit for 457 Plans $18,000 $18,000 $17,500
“Pre-Retirement” Catch-Up Limit $18,000
($36,000 total)
$18,000
($36,000 total)
$17,500
($35,000 total)
“Age 50” Catch-Up Limit $6,000
($24,000 total)
$6,000
($24,000 total)
$5,500
($23,000 total)
401
401 Defined Contribution Plans – Annual Additions (§415(c)(1)(a)) $54,000 $53,000 $53,000
401 Defined Benefit Plans – Maximum Annual Benefit* (§415(b)(1)(a)) $215,000 $210,000 $210,000
401 Annual Compensation Limit** (non-grandfather/grandfather) (§401(a)(17)) $270,000 
$400,000
$265,000 
$395,000
$265,000 
$395,000
Annual Deferral Limit for 401(k) Plans (§402(g)) $18,000 $18,000 $18,000
401(k) “Age 50” Catch-Up Limit (§414(v)) $6,000
($24,000 total)
$6,000
($24,000 total)
$6,000
($24,000 total)
IRA
Maximum Annual Addition $5,500 $5,500 $5,500
“Age 50” Catch-Up Limit $1,000
($6,500 total)
$1,000
($6,500 total)
$1,000
($6,500 total)
 


* 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: 
www.icmarc.org

Client Services - 1-800-669-7400

Melissa Doughty (Public Safety Employees) - 1-866-328-4673, cell: 202-288-7820 or mdoughty@icmarc.org

 

Lorraine Rodriguez (Non-Public Safety Employees) - 1-866-630-3042, cell: 202-957-6244 or lrodriguez@icmarc.org

Human Resources Benefits Division:  770-528-2541


Resources
ICMA-RC Fund Sheet (Information Only)

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

ICMA-RC Retirement Education Center


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  

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


2016 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 2016.  Meetings will be held in the Board of Commissioner's Board Room, 3rd Floor, 100 Cherokee Street, Marietta, GA  30090.

Tuesday, Feb. 2, 2016, 7:30-9 a.m.

Tuesday, May 3, 2016, 7:30-9 a.m.

Tuesday, Aug. 2, 2016, 7:30-9 a.m.

Tuesday, Nov. 8, 2016, 7:30-9 a.m.


Board of Trustees Meeting Minutes

2016
February 2, 2016
May 3, 2016
June 23, 2016

2015
February 3, 2015
May 5, 2015
June 23, 2015
August 4, 2015
November 24, 2015


Pension Reports

Cobb County Employees Retirement System Asset Allocation Summary as of 06/30/16
Quarterly Retirement Activity Report as of 03/31/16
Employee Pension Summary Report as of 12/31/16 (Suntrust)


Policies and Documents

Board of Trustees
Board of Trustees Governance Policies
Investment Policy Statement
Cobb County Government Employees Pension Plan Working Copy (January 1, 2016 to include all approved amendments.)