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THE CITY OF __ 8 <br /> PLE ASANTON. CITY COUNCIL AGENDA REPORT <br /> September 1, 2015 <br /> Administrative Services <br /> TITLE: ADOPT A RESOLUTION OF INTENTION AND INTRODUCE AN <br /> ORDINANCE TO AMEND THE CONTRACT BETWEEN THE <br /> CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM <br /> (CALPERS) AND THE CITY OF PLEASANTON TO PROVIDE SECTION <br /> 20516 (EMPLOYEES SHARING ADDITIONAL COST) OF 1% FOR <br /> CLASSIC CALPERS LOCAL POLICE MEMBERS AND SECTION 20516 <br /> (EMPLOYEES SHARING ADDITIONAL COST) OF AN ADDITIONAL <br /> .5% FOR CLASSIC CALPERS LOCAL FIRE MEMBERS OF THE <br /> LIVERMORE-PLEASANTON FIRE DEPARTMENT <br /> SUMMARY <br /> Recently, the Cities of Pleasanton and Livermore and the International Association of <br /> Fire Fighters adopted an updated Memorandum of Understanding (MOU) which <br /> includes the implementation of additional cost sharing of pensions for members <br /> considered "classic" by the California Public Employees' Retirement System <br /> (CaIPERS). Currently, classic members are paying 9.5% towards their pension costs. <br /> The second of four scheduled employee contributions is an additional .5% of the <br /> employer's CaIPERS rate for a total of 10% effective July 1, 2015. <br /> In addition, the City of Pleasanton and the Pleasanton Police Officers' Association <br /> recently adopted a Memorandum of Understanding (MOU) which also includes the <br /> implementation of additional cost sharing of pensions for classic police members of <br /> CaIPERS. Currently, classic police members are paying 9% towards their pension <br /> costs. The first of two scheduled contributions by employees is an additional 1% cost <br /> sharing of the employer's CaIPERS rate for a total of 10% effective June 6, 2015. <br /> In order for these employee contributions to be recognized by CaIPERS, the City must <br /> undergo the contract amendment process with CaIPERS. To execute the contract <br /> amendment the City must first adopt a resolution of intention and introduce an <br /> ordinance to amend the contract. <br /> RECOMMENDATION <br /> Adopt the resolution of intention and introduce an ordinance to amend the contract <br /> between CaIPERS and the City of Pleasanton to implement an additional .5% cost <br /> sharing for classic local fire members of the Livermore-Pleasanton Fire Department and <br />