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2 <br /> THE CITY OF <br /> CITY COUNCIL AGENDA REPORT <br /> pLEASANTONo <br /> October 2, 2012 <br /> Administrative Services <br /> TITLE: ADOPT RESOLUTION TO AMEND EFFECTIVE DATE OF IMPLEMENTION <br /> OF EMPLOYEE CONTRIBUTIONS TOWARDS CALIFORNIA PUBLIC <br /> EMPLOYEES RETIREMENT SYSTEM FOR MANAGEMENT EMPLOYEES <br /> COVERED BY THE MANAGEMENT/CONFIDENTIAL EMPLOYEES <br /> COMPENSATION AND BENEFITS PLAN <br /> SUMMARY <br /> On September 18, 2012 the City Council adopted resolutions implementing employee <br /> contributions towards CaIPERS pension program for employees covered by the <br /> International Association of Firefighters Local 1974 (IAFF) and management <br /> employees. It is necessary to amend the effective date for management employees <br /> from September 1, 2012 to September 15, 2012. Managers will commence paying the <br /> full 8% member contributions for non-safety employees and 9% for safety employees as <br /> of September 15, 2012. <br /> CaIPERS require the governing body adopt a resolution outlining the member <br /> contribution paid by City to implement this change. <br /> RECOMMENDATION <br /> Adopt resolution to amend the effective date of implementation of employee <br /> contributions towards CaIPERS pension program for management employees to <br /> September 15, 2012. <br /> FINANCIAL STATEMENT <br /> As of September 15, 2012, the increased employee contributions are expected to result <br /> in approximately $320,000 of savings attributable to management employees in the <br /> current fiscal year (2012/13FY). <br /> Submitted by: Fiscal Review: Approved :)y: <br /> ulie YuaoLMiu Emily Wagner Nelson Fialho <br /> Assistant City Manager/ Director of Finance City Manager <br /> Director of Administrative Services <br /> Attachment <br /> 1. Resolution regarding management employees <br />