10A Action 2009 0420 - Laserfiche WebLink

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CITY OF SAN LEANDRO STAFF REPORT DATE: April 10, 2009 TO: FROM: BY: Stephen L. Hollister, City Manager Justinian Caire, Human Resources ~~%~'""C___- Human Resources Department APPROVED AND FORWARDED TO CITY COUNCIL tephen L. Hollister City Manager Louise Keniston, Sr. Human Resources Analy~~ Human Resources Department SUBJECT PROJECT/PROJECT DESCRIPTION: Matter of public notice of the cost estimate to execute Government Code Section 20903, pursuant to the City's contract with the California Public Employees' Retirement System (Cal PERS), to provide two years' additional service credit for City employees in identified classifications. SUMMARY AND RECOMMENDATION Staff recommends that the City Council accept this report giving public Notice of the cost estimate to provide the two years' additional service credit benefit provision of the City of San Leandro's contract with CaIPERS, pursuant to Government Code Section 20903. BACKGROUND In 1993, the City of San Leandro adopted an ordinance to amend its contract with Ca1PERS to provide two years' additional service credit, pursuant to Government Code Section 20903. The City of San Leandro intends to adopt a Resolution granting a designated period from June 1, 2009 through October 31, 2009 and offering the two years' additional service credit option to City employees in identified classifications. It is required by law that the costs associated with granting the two years' additional service credit option be made public two weeks prior to the adoption of the Resolution. DISCUSSION The Ca1PERS two years additional service credit benefit, commonly referred to as the "Golden Handshake," is an optional benefit through CaIPERS, established under California Government Code Section 20903, which allows contracted agencies to provide two additional years of service credit to members who retire during a designated window because of impending mandatory transfers, layoffs, or demotions. The Ca1PERS program requires that the City's intent be to keep the identified positions permanently unfilled or that another designated position remain permanently vacant.