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HomeMy WebLinkAboutAgenda Statement 1984/08/14 Item 14 • COUNCIL AGENDA STATEMENT • Item 14 Meeting Date 8/-7/84 ITEM TITLE: Ordinance a®99 Approving an Amendment to a Contract Between the Board of Administration of the Public Employees' Retirement System and the City of Chula Vista and Authorizing the Mayor to Execute said Amendment SECOND READING AND ADOPTION SUBMITTED BY: City Manager (4/5ths Vote: Yes No X ) The 1983-87 Memorandum of Understanding between the City and Local 2180 International Association of Firefighters, AFL-CIO, and the 1983-86 Memorandum of Understanding between the City of Chula Vista and the Chula Vista Police Officers Association contained a provision that the City would begin providing the 2% at 50 retirement plan for both groups effective October 1 , 1984. On July 10, 1984, City Council adopted a Resolution of Intention to approve said amendment. RECOMMENDATION: That City Council adopt an ordinance amending the contract between the Board of Administration of the Public Employees' Retirement System and the City Council of the City of Chula Vista. and authorize the Mayor to execute said amendment BOARD/COMMISSION RECOMMENDATION: Not applicable. DISCUSSION: On July 10, 1984, the City Council adopted a Resolution of Intention to approve an amendment to the contract between the Board of Administration of the Public Employees' Retirement System and the City Council of the City of Chula Vista. On July 12 and 13, 1984, eligible safety employees had an election by secret ballot and affirmed their desire to change their retirement plan from the half at 55 to the 2% at 50 in accordance with their current Memorandums of Understanding. All other steps required by PERS have been completed with the exception of the adoption of this ordinance. It is expected that the first reading will be held at this meeting (August 7, 1984) and the final reading and adoption will be held on August 14, 1984. The ordinance will become effective on September 14, 1984 and the effective date of the PERS amendment will be September 28, 1984. Sep- tember 28th is the first day of a pay period closest to October 1st, which is required by PERS' regulations. FISCAL IMPACT: As indicated in the agenda statement on July 10, 1984, the difference between the employers' rate under the half at 55 and the employers' rate for the 2% at 50 plan is $334,445 for both groups. This money is included in the fiscal year 84-85 budget previously adopted by Council . Dated Form A-113 (Rev. 11/79)