HomeMy WebLinkAbout12/10/2019 Item 4, PowerPoint Presentation on Comparison Cities and Benefits InformationComparison Cities and Benefits
December 10, 2019
Recommendation
Receive a presentation on the revised comparison
cities analysis and possible retirement scenario for a
City Council Member
Provide direction on additional information the
Committee would like staff to provide
Comparison City Demographics
Median
Population has shrunk slightly
Median Household Income has increased
Median Home Sales price has decreased
Annual City Budget has decreased slightly
Unfunded Liability has increased
Council Compensation Survey
Median Mayor and Council increased slightly
Hourly Rate = Monthly Rate/Monthly Hours
Retirement Scenario
Service Credit x Benefit Factor x Final Compensation =
Unmodified Allowance
Years of Service x Retirement Formula x Annual Salary =
Annual Retirement
Health Insurance
$0 out of pocket cost for the lowest cost PPO
Typically they are opting into Employee-Only
Coverage
Recommendation
Receive a presentation on the revised
comparison cities analysis and possible retirement
scenario for a City Council Member
Provide direction on additional information the
Committee would like staff to provide.