HomeMy WebLinkAbout55A - RESO TWO YRS ADDITIONAL SVC
REQUEST FOR
COUNCIL ACTION
CITY COUNCIL MEETING DATE:
CLERK OF COUNCIL USE ONLY:
DECEMBER 18, 2006
TITLE:
APPROVED
o As Recommended
o As Amended
o Ordinance on 15t Reading
o Ordinance on 2nd Reading
o Implementing Resolution
o Set Public Hearing For
RESOLUTION TO PROVIDE
TWO YEARS ADDITIONAL SERVICE
CREDIT TO ELIGIBLE MEMBERS
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CITY MANAGER
CONTINUED TO
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FILE NUMBER
RECOMMENDED ACTION
Adopt a resolution to provide a designated time period for
granting Two-Years Additional Service Credit pursuant to
Government Code Section 20903 to eligible members retiring in the
Public Employees Retirement System.
DISCUSSION
On October 7, 1991, the City Council adopted a resolution that amended the
City's contract with the California Public Employees Retirement System
(CalPERS) to provide Two Years Additional Service Credit to eligible
members under Section 20903 of the California Government Code. The
criteria required for offering this benefit to employees is that they must
be eligible to retire, have at least five years of service with CalPERS and
must retire within the period designated by the City Council. Additionally,
the program requires the City to provide public notice of the potential
cost based on CalPERS actuarial formula. Notice of the costs was made
public at the City Council meeting of November 20, 2006, for employees in
the following two classifications:
Executive Director of Community Development
Redevelopment Project Manager III.
Adoption of this resolution will provide that option to eligible members
retiring between the dates of December 19, 2006 through March 20, 2007.
55A-1
Resolution Authorizing Two Years Service Credit
December 18, 2006
Page 2
FISCAL IMPACT
The average cost as calculated by
Retirement System actuarial formula
CalPERS will amortize the cost
amortization period of thirty years.
using the California Public Employees
is approximately $65,630 per applicant.
for this retirement credit over an
APPROVED AS TO FUNDS AND ACCOUNTS:
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FranC1SCO Gutlerrez
Executive Director
Finance & Management Services
55A-2
RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA ANA TO DESIGNATE AN ADDITIONAL WINDOW
PERIOD TO GRANT TWO-YEARS ADDITIONAL SERVICE
CREDIT FOR DESIGNATED CLASSES AND POSITIONS IN
THE CITY COVERED BY THE PUBLIC EMPLOYEES'
RETIREMENT SYSTEM
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS
FOLLOWS:
Section 1: The City Council hereby finds, determines and declares as follows:
A. On October 7, 1991 the City Council amended the contract with the Public
Employees' Retirement System (PERS) to provide Two-Years Additional
Service Credit Option pursuant to Government Code Section 20903 to eligible
members retiring during a designated window period.
B. It is now desired to provide an additional designated window period for Two
Years Additional Service Credit based on the contract amendment included in
said contract for eligible members.
C. That designated window period authorized by this Resolution will be from
December 18,2006 through March 20, 2007.
D. That the eligible member within this designated window period is in the
following classification within the identified department:
Classification
Department
Executive Director
Redevelopment Project Manager III
Community Development
Community Development
55A-3
Resolution No.
Page 2
ADOPTED this 18th day of December , 2006.
Miguel A. Pulido
Mayor
APPROVED AS TO FORM:
Joseph W. Fletcher, City Attorney
By:
AYES:
Councilmembers:
NOES:
Councilmembers:
ABSTAIN:
Councilmembers:
NOT PRESENT
Council members:
CERTIFICATION OF ATTESTATION AND ORIGINALITY
I, PATRICIA E. HEALY, Clerk of the Council, do hereby attest to and certify the
attached Resolution No. to be the original resolution adopted by
the City Council of the City of Santa Ana on
Date:
Clerk of the Council
City of Santa Ana
55A-4