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CITY COUNCIL AGENDA ITEM NO. 13

Meeting Date:  June 27, 2000

Subject/Title:    Resolution of Intention and First Reading of an Ordinance of the City Council of the City of Brentwood Authorizing an Amendment to the Contract between the Board of Administration California Public Employees’ Retirement System and the City Council of the City of Brentwood                      

Submitted by:   Patti Standley, Human Resources Manager

Approved by:    Jon Elam, City Manager

RECOMMENDATION

Adopt a resolution, which provides for the notice of intention to approve an amendment, and adopt an ordinance to approve amendment of the contract between the City of Brentwood and the Board of Administration of the California Public Employees’ Retirement System (CalPERS) as agreed during the meet and confer process.

 PREVIOUS ACTION

The City of Brentwood amended its contract with CalPERS on March 14, 1997 to provide 2% @ 55 retirement benefits for local miscellaneous members.

BACKGROUND

Through the meet and confer process, bargaining units and employee groups that contain employees defined by CalPERS as “safety” members requested that the City amend the CalPERS retirement benefit from the 2% at 50 Formula to the 3% at 50 Formula. 

Also through the meet and confer process, a non-safety bargaining unit requested that the City amend its contract with CalPERS to provide the optional benefit for Military Service Credit as Public Service for all CalPERS members enrolled through the City of Brentwood.  The Military Service Credit optional benefit will not result in employer costs and is fully funded by eligible employees.  The City agreed to process both amendments to the contract.

The 3% @ 50 Formula contract amendment will result in the following changes:  The Present Value of Benefits which represents the total dollars needed today to fund future benefits for current members of the plan, results in an estimated change in the amount of $1,042,943.  This amount will be paid over a twenty-year period through a 7.841% increase in the employer rate.  The change in the Unfunded Accrued Liability is estimated at $428,777.   The Unfunded Accrued Liability is actually not a negative to the bottom-line as Brentwood’s account assets continue to hold the account ahead of schedule by $41,224.  Initial costs for fiscal year 2000/01 (July 1, 2000 through June 30, 2001), are estimated at $114,371.


ORDINANCE  NO.

 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF BRENTWOOD AUTHORIZING AN AMENDMENT TO THE CONTRACT BETWEEN CITY OF BRENTWOOD AND THE BOARD OF ADMINISTRATION OF THE CALIFORNIA PUBLIC EMPLOYEES’ RETIREMENT SYSTEM.

THE CITY COUNCIL OF THE CITY OF BRENTWOOD DOES ORDAIN AS FOLLOWS:

Section 1.  That an amendment to the contract between the City Council of the City of Brentwood and the Board of Administration, California Public Employees’ Retirement System is hereby authorized, a copy of said amendment being attached hereto, marked Exhibit, and by such reference made a part hereof as though herein set out in full.

            Section 2. The Mayor of the City Council of the City of Brentwood is hereby authorized, empowered, and directed to execute said amendment for and on behalf of said Agency.

            Section 3.   This Ordinance shall take effect 30 days after the date of its adoption, and prior to the expiration of 30 days from the passage thereof shall be published at least once in the Brentwood News, a newspaper of general circulation, published and circulated in the City of Brentwood and thenceforth and thereafter the same shall be in full force and effect.

            The foregoing Ordinance was introduced, with full reading waived, by the City Council of the City of Brentwood.

            PASSED, APPROVED AND ADOPTED by the City Council of the City of Brentwood at a regular meeting on the 27th day of June 2000 by the following vote:

AYES:         Councilmembers

NOES:        

ABSENT:   

                         Quintin L. Kidd

                        Mayor

 ATTEST:

Karen Diaz, CMC

City Clerk

State of California         )

County of Contra Costa )  ss.

City of Brentwood         )

I, Karen Diaz, City Clerk of the City of Brentwood, do hereby certify that the foregoing Ordinance had its first reading on June 27, 2000 and had its second reading on July 25, 2000, and was passed by the following vote:

AYES:          Councilmembers

NOES:          None

ABSENT:      None

Karen Diaz, CMC

City Clerk                                                                                                           

RESOLUTION NO.

 A RESOLUTION OF INTENTION TO APPROVE AN AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION CALIFORNIA PUBLIC EMPLOYEES’ RETIREMENT SYSTEM AND THE CITY COUNCIL OF THE CITY COUNCIL OF BRENTWOOD.

             WHEREAS, the Public Employees Retirement Law permits the participation of public agencies and their employees in the Public Employees’ Retirement System by the execution of a contract, and sets forth the procedure by which said public agencies may elect to subject themselves and their employees to the amendments to said Law; and

            WHEREAS, one of the steps in the procedures to amend this contract is the adoption by the governing body of the public agency of a resolution giving notice of its intention to approve an amendment to said contract, which resolution shall contain a summary of the change proposed in said contract; and

            WHEREAS, the following is a statement of the proposed change:

To provide Section 21362.2 (3% @ 50 Full Formula) for local police members only; and Section 21024 (Military Service Credit as Public Service) for local miscellaneous members and local safety members.       

NOW, THEREFORE BE IT RESOLVED that the governing body of the above agency does hereby give notice of the intention to approve an amendment to the contract between said public agency and the Board of Administration of the Public Employees’ Retirement System, a copy of said amendment being attached hereto, as an “Exhibit” and by this reference made a part hereof.

            PASSED, APPROVED AND ADOPTED by the City Council of the City of Brentwood at a regular meeting held 2000 by the following vote:

AYES:        

NOES:       

ABSENT:  

                            Quintin L. Kidd  

                         Mayor

 ATTEST:

Karen Diaz, CMC

City Clerk

City Administration
City of Brentwood City Council
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Brentwood, CA 94513
(925) 516-5440
Fax (925) 516-5441
E-mail allcouncil@brentwoodca.gov