Title
Staff Report for Resolution of Intent to Provide Two Years Additional Service Credit as an Incentive to Identified Classifications to Retire
Staffreport
SUMMARY AND RECOMMENDATIONS
Staff recommends that the City Council adopt the resolution utilizing the two years additional service credit benefit provision of the City of San Leandro’s contract with CalPERS, pursuant to Government Code Section 20903.
BACKGROUND
At the March 19th City Council meeting, staff presented the PERS Two Year Service Credit as another option to the Voluntary Incentive Separation Program which was presented two weeks prior. These options are a means of mitigating some impact of the potential layoffs made necessary by the elimination of Redevelopment Agency funding effective February 1, 2012, when affected staff and program costs were transferred to the City’s General Fund.
Staff provided a report at the meeting identifying and making public the associated costs so that a Resolution could be brought before the City Council at the April 2nd meeting, which was the earliest meeting which provides the two weeks’ notice as required by PERS law. City Council accepted the report and directed staff to bring back the Resolution adopting the two year service credit provision of the City of San Leandro’s contract with CalPERS pursuant to Government Code Section 20903. In order for the employees to be eligible, they must be at least 50 years of age, have a minimum of five years of service credit in the PERS system and retire during the designated period from the specified classifications in the Community Development Department. The designated period is April 3, 2012 through July 2, 2012.
As outlined at the March 19th meeting, the CalPERS two additional years service credit benefit is an optional benefit offered through CalPERS which allows contracted agencies an option to provide service credit to members who retire during a designated time period because of impending mandatory transfe...
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