HomeMy WebLinkAboutItem 13 Presentation - Introduce an Ordinance Amending CalPERS ContractCalPERS Retirement Contract
Amendment –Cost Sharing
Monica Irons, Human Resources Director
Brittani Roltgen, Human Resources Analyst
March 03, 2020
Background
Fiscal Health Response Plan
Successful Negotiations
Cost Sharing –Two Ways
Cost Sharing –through Memorandum of Agreement
Cost Sharing –through Contract Amendment
Contract Amendment Requirements
Council adopts a resolution of intention
approving the contract amendment (March 3,
2020)
Council approves first reading of an Ordinance
authorizing contract amendment (March 3, 2020)
Contract Amendment Requirements -
Continued
Final reading and adoption of Ordinance
authorizing contract amendment (May 5, 2020)
Fiscal Impact
Reduction of employer pension rates
in future valuation reports
Increase of employee pension rates in
future valuation reports
This Contract Amendment will result
in on-going savings of approximately
$685,000 annually
Questions