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File Number: 12 -153 <br />approximately $18,200 annually for a maximum of $443,000 over 20 years beginning in <br />2014 -15. Staff anticipates that there will be three retirements and that cost would be <br />approximately $314,000. Two years after the resolution's adoption, the miscellaneous <br />employee CalPERS rate will be increased an estimated .09% under CalPERS formulas, if all <br />eligible employees accept the option. As previously covered, the major reason for offering the <br />option is to reduce the likelihood of layoffs by giving eligible employees an incentive to retire <br />earlier than they may have planned. <br />ATTACHMENTS <br />None <br />PREPARED BY: Cynthia Kasten, Interim Human Resources Manager, City Manager's Office <br />City of San Leandro Page 3 Printed on 312712012 <br />