Laserfiche WebLink
THE CITY OF 09 <br /> psL£AS�NTON® CITY COUNCIL AGENDA REPORT <br /> 1 <br /> January 18, 2010 <br /> Administrative Services <br /> TITLE: INTRODUCTION OF A RESOLUTION AMENDING THE MANAGEMENT <br /> AND CONFIDENTIAL COMPENSATION AND BENEFITS PLAN TO <br /> REQUIRE DEPARTMENT HEADS, MIDDLE MANAGEMENT AND <br /> CONFIDENTIAL EMPLOYEES TO CONTRIBUTE TO CALIFORNIA <br /> PUBLIC EMPLOYEES RETIREMENT SYSTEM PENSION COSTS <br /> SUMMARY <br /> The City Manager appoints all department heads, middle management and confidential <br /> employees. This resolution is being placed on the agenda at the request of the City <br /> Manager. The resolution modifies the Management and Confidential Employee <br /> Compensation and Benefits plan dated August 2010 by transferring a portion the City's <br /> obligation to pay the employer paid member contribution (EPMC) share of the California <br /> Public Employees Retirement System (CaIPERS) to department heads, middle <br /> managers and confidential employees. Upon adoption of this resolution, the <br /> aforementioned employees would be responsible for funding 50% of the employee <br /> share, which is equivalent to 4% of annual compensation, effective July 1, 2011. <br /> This item simply introduces the matter for presentation and discussion. Formal adoption <br /> would occur on February 1, 2011. <br /> RECOMMENDATION <br /> Introduce resolution and receive comments on the matter. <br /> FINANCIAL STATEMENT <br /> Effective July 1, 2011, the annual savings based on current compensation levels is <br /> approximately $313,000. <br /> Submitted by: Fiscal Review: Approved by: <br /> � VA <br /> u lie Yuan i�KA u Emily Wagner Nelson Fialho <br /> Assistant City Manager/ Director of Finance City Manager <br /> Director of Admin Services <br />