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Packet 20230320
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13A Action
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Last modified
3/21/2024 5:51:00 PM
Creation date
5/31/2023 11:45:48 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Staff Report
Document Date (6)
3/20/2023
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PERM
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<br /> <br /> <br /> From and after January 1, 2019, and until July 1, 2019, 2% for classic <br />local miscellaneous members in the Executive Management group. <br /> <br /> From and after July 1, 2019, 3% for classic local police members in <br />the San Leandro Police Officers’ Association. <br /> <br /> From and after July 1, 2019, 3% for classic local miscellaneous <br />members in the Executive Management group. <br /> <br /> From and after the effective date of this amendment to contract, 1% <br />for classic local police members in the San Leandro Police <br />Management Association. <br /> <br /> The portion of the employer’s contribution that the member agrees <br />to contribute from his or her compensation, over and above the <br />member’s normal contribution (“Cost Sharing Percentage”), shall not <br />exceed the Employer Normal Cost Rate, as that rate is defined in the <br />CalPERS Actuarial Valuation for the relevant fiscal year. If the Cost <br />Sharing Percentage will exceed the relevant Employer Normal Cost <br />Rate, the Cost Sharing Percentage shall automatically be reduced to <br />an amount equal to, and not to exceed, the Employer Normal Cost <br />Rate for the relevant fiscal year. <br /> <br />15. Public Agency, in accordance with Govern ment Code Section 20790, <br />ceased to be an "employer" for purposes of Section 20834 effective on April <br />1, 1976. Accumulated contributions of Public Agency shall be fixed and <br />determined as provided in Government Code Section 20834, and <br />accumulated contributions thereafter shall be held by the Board as provided <br />in Government Code Section 20834. <br /> <br />16. Public Agency shall contribute to said Retirement System the contributions <br />determined by actuarial valuations of prior and future service liability with <br />respect to local miscellaneous members and local safety members of said <br />Retirement System. <br /> <br />17. Public Agency shall also contribute to said Retirement System as follows: <br /> <br />a. Contributions required per covered member on account of the 1959 <br />Survivor Benefits provided under Section 21574 of said Retirement <br />Law. (Subject to annual change.) In addition, all asse ts and liabilities <br />of Public Agency and its employees shall be pooled in a 1959 single <br />account, based on term insurance rates, for survivors of all local <br />police members except those who were reclassified to local police <br />status pursuant to Government Code Section 20425 on or before <br />August 4, 1972. <br /> <br /> <br /> <br />
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