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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL <br />AGENDA DATE November 20, 1989 <br />TITLE PROPOSED AMENDMENT TO THE CITY'S <br />/a-i2i4- o�3rr <br />DATE OF COUNCIL ACTION NOV 2 0 1989 <br />Re olution No Z2-115 <br />CONTRACT WITH THE PUBLIC EMPLOYEE'S adopted. <br />RETIREMENT SYSTEM (PERS) <br />„�� CLERK OF THE COUNCL-101-� <br />RECOMMENDED ACTION <br />1. Adopt Resolution #99-119 declaring the City Council's intention to amend <br />the City's contract with the Public Employees' Retirement system to <br />provide Section 21252.01 benefit options (2% at age 50 formula) for <br />local police safety members employees employed from and after <br />October 1, 1981. <br />2. Direct the Clerk of the Council to include in the Minutes the following <br />(GC7507): <br />a. The City's premium rate will increase .927 percentage points to <br />16.717% of the applicable local safety payroll effective January 1, <br />1990. <br />b. The estimated cost of this rate increase will be approximately <br />$142,800 for the last half of FY 89-90. <br />EXECUTIVE SUMMARY <br />In accordance with provisions of the current Memorandum of <br />Understanding (MOU) between the City and the Police Benevolent <br />Association (PBA), the City agreed to amend its contract with PERS to <br />provide the 112% at age 50" benefit formula for all sworn Police safety <br />members employed since November 1, 1981. Police personnel hired prior <br />to that date already have that benefit option. The amendment <br />standardizes the benefit for all sworn Police personnel . <br />The contract amendment process specified in the PERS law requires <br />adoption of a Resolution of Intention no less than 20 days prior to <br />adoption of an ordinance authorizing the actual amendment to the <br />contract. <br />The enabling ordinance is scheduled for adoption on 12/18/89. <br />Funds are budgeted and available within the Police Department budget. <br />071 35F <br />