STARS is shorthand for the California Public Agencies Self-Directed Tax-Advantaged Retirement System. It consists of two trusts formed in 2009 for the exclusive use of California public agencies and their employees.
We are pleased to announce that Indian Valley Community Services District has joined the STARS program, effective November 1. Through STARS, the employees of Indian Valley Community Services District will participate in a 401(a) defined contribution plan and/or a 457(b) voluntary deferred compensation plan.
Another milestone for the program is that the Town of Discovery Bay Community Services District was recently approved as a STARS agency. The tentative implementation effective date is January 1, 2021. Staff is working closely with the Town of Discovery Bay Community Services District to make the implementation process as smooth as possible.
The addition of Indian Valley Community Services District and the Town of Discovery Bay will further strengthen the position of the STARS program in the market. By pooling their purchasing power, agencies in the STARS program will provide greater value for their employees as they prepare for financial security.