Item 10 - Supplemental Retirement Plan for Non-Safety Employees
AGENDA REPORT SUMMARY
.0: Hooo",b~ Mayo' aod Membe"~ COy Co"odl
FROM: James L. Bowersox, City Mana
INITIATED BY: Warren H. Shafer, Director of Administrative Services ~
DATE: May 10, 2005
SUBJECT: Supplemental Retirement Plan for Non-Safety Employees
ABSTRACT
Pursuant to the multi-year collective bargaining agreement approved last year with the Non-Safety
Employees, the establishment of a supplemental retirement plan is being presented to the Council as
an information item this evening. The Council will consider establishing the plan at a future regularly
scheduled meeting.
ENVIRONMENTAL REVIEW
-This item is not subject to CEQA review.
FISCAL IMPACT
The cost for the plan would be $427,228 (58%) to the General fund, and other $309,372 (42%) to the
water, sewer and other funds.
ADDITIONAL PUBLIC NOTIFICATION AND CORRESPONDENCE
A copy of this report has been sent to Chester Mordasini, Business Representative for the California
Teamsters Local 911.
RECOMMENDATION
This is an informational item only.
ACTION
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1 of 3 May 10, 2005 Item # 10
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CITY OF POWAY
AGENDA REPORT
This report is included on the Consent Calendar. There will be no separate discussion of the report prior to approval by the City Council unless members of
the Council, staff or public request it to be removed from the Consent Calendar and discussed separately. If you wish to have this report pulled fordiscussion,
please fill out a slip indicating the report number and give it to the City Clerk prior to the beginning of the City Council meeting.
TO: Ho"ornble M,yo' oed Membe~ City Co,,,n
FROM: James L. Bowersox, City Mana
INITIATED BY: ,0)
Warren H. Shafer, Director of Administrative Services
DATE: May 10, 2005
SUBJECT: Supplemental Retirement Plan for Non-Safety Employees
BACKGROUND
The City Council will consider establishing a supplemental retirement plan for all non-safety
employees at a future regularly scheduled Council meeting. The change is pursuant to the
multi-year collective bargaining agreement approved last year, and was designed to support
the recruitment and retention of high quality employees.
FINDINGS
The City is required by Section 7507 of the California Government Code to secure the
services of an enrolled actuary to determine the future annual cost of providing the plan
benefits and making the results of that study available for public review. Two weeks after
the first public meeting, the Council can formally consider approval of the change. The
projected actuarial cost of the proposed plan is six and three one hundredths percent
(6.3%) of covered salaries. Based on the current salaries, the annual cost for this. benefit is
$736,600. A copy of the actuarial report is on file in the City Clerk's Office. This
amendment will apply to the 210 authorized positions in the non-safety group. This group
will not receive a general salary adjustment in FY 2005/06 as part of their agreement.
ENVIRONMENTAL REVIEW
This item is not subject to CEQA review.
FISCAL IMPACT
The cost for the plan would be $427,228 (58%) to the General fund, and other $309,372
(42%) to the water, sewer and other funds.
2of3 May 10, 2005 Item #~
Supplemental Retirement Plan for Non-Safety Employees
May 10, 2005
Page 2
ADDITIONAL PUBLIC NOTIFICATION AND CORRESPONDENCE
A copy of this report has been sent to Chester Mordasini, Business Representative for the
California Teamsters Local 911.
RECOMMENDATION
This is an informational item only.
m"\directcrlgeneral\agenda\pars May 10 rpt.doc
30f3 May 10, 2005 Item #~
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