TITLE
Adopt resolution for paying and reporting the lower value of the employer paid member contributions to the California Public Employees Retirement System employees represented by the Long Beach Police Officer’s Association. (Citywide)
DISCUSSION
City management representatives and representatives of the Long Beach Police Officer's Association (LBPOA) have had a number of meet and confer sessions regarding the financial impacts of the Fiscal Year 2012 (FY 12) budget. Meetings have been concluded and an amendment to the Memorandum of Understanding (MOU) has been jointly executed with representatives of the employee organization.
The major provisions of the Amendment ( attached) are agreement to an additional seven percent (7%) CalPERS pick-up in FY 12, representing one hundred percent (100%) of the employee's share; agreement to full CalPERS pick-up for new City employees; and agreement to a lower retirement formula of two percent (2%) at fifty (50) and three-year average final compensation for new employees represented by the Association.
Pursuant to the Amendment and pending approval of the Resolutions, effective October 8, 2011, employees represented by the LBPOA shall contribute an amount equal to nine percent (9%) of their annual salary towards their individual employee contribution. The Resolutions also provide that new City employees represented by this Association hired on or after October 8,2011, shall pay one hundred percent (100%) of the normal member contri bution.
In order for the City to make changes to the employer paid member contribution, it is necessary for the City Council to adopt the attached Resolutions as prepared by the City Attorney.
This matter was reviewed by Senior Deputy City Attorney Christina L. Checel and Budget Management Officer Victoria Bell on September 12, 2011.
TIMING CONSIDERATIONS
City Council action is requested on September 20, 2011 to implement the MOU Amendment provisions and to ensure that CalPERS receive...
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