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City of San Leandro <br />Notes to Basic Financial Statements <br />For the year ended June 30, 2013 <br />NOTE 14 - EMPLOYEE RETIREMENT PLANS (Continued) <br />Three -Year Information for City of San Leandro Safety Plan <br />Percentage <br />of APC <br />Contributed <br />100% <br />100% <br />100% <br />Three -Year Information for City of San Leandro Miscellaneous Plan <br />Annual Percentage <br />Annual <br />Fiscal Year <br />Pension Cost <br />Fiscal Year <br />(APC) <br />6/30/2012 <br />6/30/2011 <br />$4,162,075 <br />6/30/2012 <br />4,106,138 <br />6/30/2013 <br />2,675,983 <br />Percentage <br />of APC <br />Contributed <br />100% <br />100% <br />100% <br />Three -Year Information for City of San Leandro Miscellaneous Plan <br />Annual Percentage <br />NOTE 15 — OTHER POST EMPLOYMENT BENEFITS <br />of APC <br />Contributed <br />100% <br />100% <br />100% <br />The City implemented the provisions of GASB 45. Accounting and Financial Reporting by Employers for <br />Postemployment Benefits Other Than Pensions, in fiscal year 2008-09. This Statement establishes <br />uniform financial reporting standards for employers providing postemployment benefits other than <br />pension. The provisions of this Statement are applied prospectively and do not affect prior financial <br />statements. Required disclosures are presented below. <br />A. Plan Description <br />The City's defined benefit Other Post Employment Benefit (OPEB) Plan, which was established by City <br />Council in fiscal year 2009-10 in accordance with GASB Statement No. 45, provides reimbursements to <br />retirees for qualified expenses. Retirees who have at least ten years of service and meet certain criterion <br />based upon retirement date, household income in the most recent calendar year and age are entitled to <br />reimbursements for qualified expenses. <br />Annual maximum reimbursement amounts differ depending on when an employee retired from City <br />service. The majority of retirees may be eligible for a maximum of $4,320 in annual reimbursements. <br />Amendments to benefit provisions are negotiated by various bargaining units at the City and must be <br />approved by Council. In fiscal year 2008-09, the City established an irrevocable exclusive agent multi- <br />employer benefit trust which is administered by Public Agency Retirement Services (PARS). The trust <br />will be used to accumulate and invest assets necessary to reimburse retirees. Separate financial reports <br />are issued by PARS for the OPEB plan. The report can be obtained by writing to PARS at 5141 <br />California Avenue, Suite 150, Irvine, CA. 92617-069, or by calling 800-540-6369. <br />76 <br />Pension Cost <br />Fiscal Year <br />(APC) <br />6/30/2011 <br />$2,790,203 <br />6/30/2012 <br />3,598,318 <br />6/30/2013 <br />4,122,077 <br />NOTE 15 — OTHER POST EMPLOYMENT BENEFITS <br />of APC <br />Contributed <br />100% <br />100% <br />100% <br />The City implemented the provisions of GASB 45. Accounting and Financial Reporting by Employers for <br />Postemployment Benefits Other Than Pensions, in fiscal year 2008-09. This Statement establishes <br />uniform financial reporting standards for employers providing postemployment benefits other than <br />pension. The provisions of this Statement are applied prospectively and do not affect prior financial <br />statements. Required disclosures are presented below. <br />A. Plan Description <br />The City's defined benefit Other Post Employment Benefit (OPEB) Plan, which was established by City <br />Council in fiscal year 2009-10 in accordance with GASB Statement No. 45, provides reimbursements to <br />retirees for qualified expenses. Retirees who have at least ten years of service and meet certain criterion <br />based upon retirement date, household income in the most recent calendar year and age are entitled to <br />reimbursements for qualified expenses. <br />Annual maximum reimbursement amounts differ depending on when an employee retired from City <br />service. The majority of retirees may be eligible for a maximum of $4,320 in annual reimbursements. <br />Amendments to benefit provisions are negotiated by various bargaining units at the City and must be <br />approved by Council. In fiscal year 2008-09, the City established an irrevocable exclusive agent multi- <br />employer benefit trust which is administered by Public Agency Retirement Services (PARS). The trust <br />will be used to accumulate and invest assets necessary to reimburse retirees. Separate financial reports <br />are issued by PARS for the OPEB plan. The report can be obtained by writing to PARS at 5141 <br />California Avenue, Suite 150, Irvine, CA. 92617-069, or by calling 800-540-6369. <br />76 <br />