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DISCUSSION <br /> Additional employee contributions towards pension costs, as negotiated in the recently <br /> adopted MOUs, will result in significant savings over the term of their contracts. The <br /> contributions totaling an additional 3% for classic local fire members and an additional <br /> 1.5% for classic local police employees is in alignment with the cost sharing goals of <br /> PEPRA. <br /> To implement this change using the CaIPERS contract amendment process, CaIPERS <br /> requires that the City adopt a resolution of intention to amend the contract to provide <br /> Section 20516 (Employees Sharing Additional Cost) of .5% for classic local fire <br /> members and 1% for classic local police members. In addition, an ordinance to that <br /> effect must also be adopted. Both the resolution of intention and introduction of the <br /> ordinance may take place at the same City Council meeting. Pursuant to Government <br /> Code Section 20471, there must be a 20 day waiting period between the adoption of the <br /> resolution of intention and the adoption of the final ordinance. Therefore, the final <br /> ordinance will be presented at the October 6, 2015 City Council meeting. <br /> Following the required process, and provided there are no delays in scheduling, the <br /> effective date of the contract amendment is November 5, 2015. The earliest the <br /> contributions can be recognized under the contract amendment is the start of the pay <br /> period following the effective date of the contract amendment. Contributions are <br /> scheduled to be recorded under the contract amendment effective November 7, 2015. <br /> Submitted by: Fiscal eview: Approved by: <br /> A <br /> Debra Gill Tina Olson Nelson Fialho <br /> Director of Human Resources Director of Finance City Manager <br /> and Labor Relations <br /> Attachments: <br /> 1. Resolution <br /> 2. Ordinance <br /> Page 3 of 3 <br />