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File Number: 15-489 <br />Tier 2: Employees hired after January 1, 2013 <br />·2.7% at age 57 (2% early retirement at age 50, 2.7% max benefit at age 57) <br />Retirees are eligible for a max benefit of $4,320 in annual reimbursements. The majority of <br />Alco Fire recipients are eligible for as much as $1,559/month for a total of $18,700 in 2014. <br />Due to the rise in Unfunded Liabilities, San Leandro will fully fund the Alameda County Fire <br />Department Other Post-Employment Benefits annual required contributions (ACFD OPEB <br />ARC) over the next 2 years and pay 125% of the City Miscellaneous Employees ARC. <br />Policy Discussion and Considerations: <br />Chris Zapata suggested that a policy be put in writing stating that San Leandro will commit to <br />paying a minimum of 100% ARC and review the reserves to see if 16.7% is agreed upon then <br />take a portion of excess reserves and apply it to the Unfunded Liabilities. <br />In terms of carry over usage and major property sales, using up to 50% of those funds and <br />applying it to pay down the debt. <br />3.PUBLIC COMMENTS <br />4.COMMITTEE MEMBER COMMENTS <br />5.ADJOURN <br />Meeting adjourned at 6:30 p.m. <br />Page 3 City of San Leandro Printed on 9/2/2015