Laserfiche WebLink
Agreement with PMA <br />June 4, 2007 <br />Page 2 of 2 <br />S. Alternative work schedule: Effective July 1, 2007 = Reopener to <br />discuss the possibility of an alternative work schedule. <br />6. 2.7°s at 55 CalPERS "Miscellaneous Employee" Retirement Formula: <br />A. Employees agree to contribute toward enhanced retirement <br />formula: <br />July 1, 2007 = 2.0$ <br />July 1, 2008 = Additional 2.0~ (total of 4°s) <br />July i, 2009 = Additional 2.3% (total of 6.3~) <br />B. City agrees to amend CalPERS contract for 2.7% at 55 <br />retirement formula, effective January 1, 2009. <br />FISCAL IMPACT <br />Funds for contract extension are available in the affected departmental <br />accounts: Salary account (Object Code 6111) and Benefits account (Object <br />code 6171), There is no new cost foY FY 2007-08. <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br /> <br />ffnrique Alv _ '" <br />Executi yDir c or <br />Person 1 Se ices Department <br />Francisco Gutierrez <br />Executive Director <br />Finance & Management Services Agency <br />25F-2 <br />