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<br />Agreement with FBA <br />February 5, 2007 <br />Page 2 of 2 <br /> <br />B. City agrees to Amend CalPERS contract for new 2.7% at 55 <br />retirement formula, effective January 1, 2009. <br /> <br />FISCAL IMPACT <br /> <br />Funds are available in the affected departmental accounts: Salary account <br />(Object Code 6111) and Benefits account (Object code 6171). Salary and <br />medical increases for FY 2007-08 were agreed to through prior negotiations <br />and approved by the City Council. New costs for FY 2007-08 are $33,150. <br /> <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br /> <br /> <br />Department <br /> <br />'tl\l\.""~;",, . '\ \..~:-:-.. <br />Francisco Gutierrez <br />Executive Director <br />Finance & Management Services Age~~~ <br /> <br />251-2 <br />