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<br />Resolution Authorizing Two Years Service Credit <br />December 18, 2006 <br />Page 2 <br /> <br />FISCAL IMPACT <br /> <br />The average cost as calculated by <br />Retirement System actuarial formula <br />CalPERS will amortize the cost <br />amortization period of thirty years. <br /> <br />using the California Public Employees <br />is approximately $65,630 per applicant. <br />for this retirement credit over an <br /> <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br /> <br /> <br />.==t.~~~~~ .~.~ L~.) <br />FranC1SCO Gutlerrez <br />Executive Director <br />Finance & Management Services <br /> <br />55A-2 <br />