Title
Ordinance approving an amendment to the contract between the Board of Administration California Public Employees' Retirement System and the City Council of the City of South San Francisco.
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WHEREAS, the Public Employees' Retirement Law (California Government Code Section 20000 et seq., the "Law") permits the participation of public agencies and their employees in the Public Employees' Retirement System ("PERS") by the execution of a contract, and sets forth the procedure by which said public agencies may elect to subject themselves and their employees to amendments to said Law; and
WHEREAS, the City of South San Francisco (the "City") and the Board of Administration California Public Employees' Retirement System have entered into a contract effective September 1, 1945 (and heretofore subsequently amended) related to the Public Employees' Retirement System ("Contract"); and
WHEREAS, the City has negotiated with its Executive Management Unit a Compensation Plan effective July 1, 2017 through June 30, 2022, that includes a provision stating that with the implementation of an amendment to the PERS contract and as authorized by GC 20516(f), Local Miscellaneous Classic Members and the City agree to a pension-cost sharing arrangement where all Classic members shall pay, in addition to their current 7% or 8% employee contribution, an additional one percent (1% ) effective the first full pay period of July 2020 and an additional one percent (1%) for a total additional two percent (2%) effective the first full pay period of July 2021; and
WHEREAS, the California Public Employees' Retirement System staff have prepared the attached Amendment to Contract to implement the ability of Executive Management Unit Local Miscellaneous member employees to share in the employer costs of their pension benefit.
NOW, THEREFORE, the City Council of the City of South San Francisco does ORDAIN as follows:
Section 1. RECITALS.
The City Council hereby finds that the foregoin...
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