TITLE
Recommendation to adopt resolutions for Paying and Reporting the Value of the Employer Paid Member Contributions to the California Public Employees’ Retirement System. (Citywide)
DISCUSSION
On August 16,2005, and January 17,2006, the City Council approved the Memoranda of Understanding (MOU) with the Long Beach Police Officers Association and Long Beach Firefighters Association respectively. Pursuant to these MOUs, effective April 1 , 2006, all represented employees will begin paying 1 percent of the employees’ contribution rate and 2 percent effective April 1 , 2007.
On April 20,2004, the City Council approved the Memorandum of Understanding with the Long Beach Management Association (LBMA). This MOU provides that safety bargaining unit members will contribute the same percentage as applied to members of the other safety employee organizations. Therefore, effective April 1 , 2006, Police and Fire safety managers will pay I percent of the employees’ contribution rate and 2 percent effective April 1, 2007.
In order for the City to make changes to implement the employee pick-up, it is necessary for the City Council to adopt the attached Resolutions as prepared by the City Attorney.
This matter was reviewed by Deputy City. Attorney Christina. Checel and Budget Management Officer David Wodynski on March 6,2006.
TIMING CONSIDERATIONS
City Council action is requested on March 14, 2006, to ensure that these Resolutions are received by CalPERS for processing consistent with the effective dates of the various MOUs.
FISCAL IMPACT
The estimated savings or cost avoidance for the remainder o Fiscal Year 2006 is approximately $367,720 for the General Fund, and $1,698 for Other Funds, or $369,418 for all funds. For Fiscal Year 2007, ,the savings will be approximately $637,281 for the General Fund, and $3,157 for Other Funds, or $640,438 for all funds.
SUGGESTED ACTION
Approve recommendation.
BODY
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LONG...
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