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THE CITY OF <br /> CITY COUNCIL AGENDA REPORT 02 <br /> PL E ASANTONs <br /> January 4, 2011 <br /> Administrative Services <br /> TITLE: APPROVE AMENDMENT NO. 2 TO THE EMPLOYMENT CONTRACT <br /> OF CITY MANAGER NELSON FIALHO <br /> SUMMARY <br /> The City Council appoints arid evaluates the City Manager. This contract amendment is <br /> being placed on the agenda at the request of the City Manager. This amendment <br /> modifies the original employment contract dated October 13, 2004, by transferring the <br /> City's obligation to pay the employer paid member contribution (EPMC) share of the <br /> California Public Employees Retirement System (CaIPERS) to Nelson Fialho. In <br /> adopting this amendment, the City Manager will now be responsible for funding the full <br /> employee share, which is equivalent to 8% of his annual compensation, or <br /> approximately $16,000 annually. The next step in the process is to adopt a resolution to <br /> this effect, as required by CaIPERS. Adoption of this resolution will take place at the <br /> next meeting, January 18, 2011 and the effective date of the amendment is the second <br /> full pay period following January 1, 2011, or as soon as administratively feasible. <br /> RECOMMENDATION <br /> Approve Amendment No. 2 to the employment contract of the City Manager. <br /> FINANCIAL STATEMENT <br /> This amendment results in a mid -year budget savings to the operating budget of <br /> approximately $8,000. Effective July 1, 2011, the annual savings based on current <br /> compensation levels is approximately $16,000. <br /> Submitted by: Fiscal Review: <br /> , lXi2G2 <br /> ulie Yua iu r Emily Wagner <br /> ssistant City Manager Director of Finance <br /> Attachment: <br /> 1. Contract Amendment <br />