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THE CITY OF 2 <br /> -- ° ° -- CITY COUNCIL AGENDA REPORT <br /> pL EASANTONG <br /> February 21, 2012 <br /> Administrative Services <br /> TITLE: ADOPT A RESOLUTION TO IMPLEMENT EMPLOYEE CONTRIBUTION <br /> TOWARDS CALPERS PENSION PLAN FOR PLEASANTON POLICE <br /> OFFICERS' ASSOCIATION <br /> SUMMARY <br /> On February 7, 2012 the City Council approved the tentative agreement reached with <br /> the Pleasanton Police Officers' Association (PPOA) which is effective through May 31, <br /> 2014. One provision of the successor agreement involves employee contributions <br /> towards the CaIPERS retirement program. Employees covered by PPOA will begin <br /> contributing 3% of the Employer Paid Member Contribution (EPMC) effective on March <br /> 3, 2012 (the start of the next pay period). In July 2012, employees' contribution towards <br /> the retirement program increases to 6% and in July 2013, employees will pay the full <br /> 9% member contribution. CaIPERS requires a resolution adopted by the governing body <br /> outlining the different percentages paid by City, over the next year and a half, to <br /> implement this change. <br /> RECOMMENDATION <br /> Adopt a resolution to implement employee contribution towards the CaIPERS pension <br /> program for the Pleasanton Police Officers' Association. <br /> FINANCIAL STATEMENT <br /> The cumulative budgetary savings through the end of the FY 13/14 budget associated <br /> with the employee contributions is approximately $1.9 million. <br /> Submitted by: J Fiscal Review: Approved by: <br /> s lie Yua Miu Emily Wagner Nelson Fialho <br /> sistant City Manager/ Director of Finance City Manager <br /> Director of Administrative Services <br /> Attachment: <br /> 1. Resolution <br />