TITLE
Recommendation to adopt resolution approving the appointment of David Nakamoto, retired annuitant, as an interim appointment to a vacant position during recruitment for a permanent replacement in the Financial Management Department pursuant to Government Code 21221(h) and an exception to the 180-day waiting period for Public Agencies pursuant to Government Code 7522.56 and 21224. (Citywide)
DISCUSSION
On January 1, 2013, the Public Employees’ Pension Reform Act added Sections 21221(h), 7522.56, and 7522.57 to the Government Code, which set forth post-retirement employment requirements applicable to all retirees who are employed by CalPERS employers on or after January 1, 2013. This change added the requirement that the retiree is appointed into the interim appointment during recruitment for a permanent appointment, and the retiree may only be appointed to the position once. This change also added the requirement that all retirees must wait 180 days after their retirement date before they are eligible to begin post-retirement employment with a CalPERS agency. An exception to the 180-day wait period can be made if a public agency certifies the nature of the employment and that the appointment is necessary to fill a critically needed position before 180 days have passed. The appointment must be approved by the governing body of the employer in a public meeting and may not be placed on a consent calendar.
The Financial Management Department hereby requests City Council approval to hire Mr. David Nakamoto, former City Treasurer in the Financial Management Department, as the Interim City Treasurer, effective January 19, 2022, for a limited duration. Mr. David Nakamoto will be responsible for the City’s cash, investment, and financing activities. He will manage the Treasury Bureau and address a variety of financing issues, including refunding of existing bonds, issuing new debt, public-private partnership opportunities, capital lease financings, special projec...
Click here for full text