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File Number: 13-324 <br />·Pursuant to the Public Employees Pension Reform Act of 2013, employees hired after <br />January 1, 2013 depending on previous California public agency employment are <br />subject to specific pension formulas and employee contributions. <br />In order to implement these contribution changes, CalPERS requires a separate resolution <br />defining the amount or percentage of the EPMC. <br />Fiscal Impacts <br />The savings associated with the implementation of the EPMC changes were presented to the <br />City Council with the MOU on March 18, 2013. They are as follows: The MOU is effective <br />January 1, 2013 and will save the City of San Leandro approximately $153,924 in the first <br />year with no wage increase and 3% employee contribution towards the employee’s retirement <br />held by CalPERS. It will save approximately $102,939 in the second year (2014) with a 4% <br />wage increase and 6% employee contribution towards the employee’s retirement held by <br />CalPERS. It will cost approximately $304,519 in the final 2015 year with a 3% wage increase, <br />addition of 6th step and 9% employee contribution towards the employee’s retirement held by <br />CalPERS. The total cost over the three-year agreement is approximately $47,655. <br />ATTACHMENTS <br />·Memorandum of Understanding <br />·Resolution No. 2013-042 approving MOU <br />PREPARED BY: LaTanya Bellow, Human Resources Manager, City Manager’s Office <br />Page 2 City of San Leandro Printed on 6/25/2013