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HomeMy WebLinkAbout _ 9.15(b)--CalPERS Cost Share Amendment - Unrep Safety_Non-Safety_Elected � � �' � � � � � � ' � �' � � ' � ` CITY OF REDDING REPORT TO THE CITY COUNCIL MEETING DATE: February 18, 2025 FROM: Kari Kibler, Personnel ITEIVI NO. 9.15(b) Director ***APPROVED BY*** � �, � � � ��� , i�]�r,Persc�nnel I�irectc�r :?`l�i2t?'�� rS' �P�ir�,C�i �� �° ��'1'?��'2{}?. kkibler@cityofredding.org btippin@cityofredding.org SUBJECT: 9.15(b)--Consider Resolution of Intention and introduction of Uncodified Ordinance amending the City of Redding's contract with California Public Employees' Retirement System (Ca1PERS) to allow Unrepresented Safety and Non-Safety Employees and Elected Officials to share additional costs of the retirement benefit. Recommendation Authorize and approve the following: (1) Adopt Resolution of Intention giving notice of the City of Redding's intent to amend the contract with California Public Employees' Retirement System (Ca1PERS) pursuant to Public Employees' Retirement Law, Section 20516 — Cost Sharing, for Unrepresented Employees and Elected Officials; and (2) Introduce an uncodified Ordinance by title only, and waive the fu11 reading of the proposed Ordinance, regarding implementation of changes to the City of Redding's contract with CaIPERS as referenced above. Fiscal Impact Implementation of the cost savings provisions will result in savings to the City of Redding (City) of an additional .876-1.73 percent of employee gross wages for Classic Tier 1 Miscellaneous and Classic Tier 1 and Tier 2 Safety members of the Unrepresented Management and Elected Officials group. The total estimated amount of the savings as a result of these modifications is approximately $740,000 per year, of which approximately $25,000 is applicable to the General Fund. Report to Redding City Council February 12,2025 Re: 9.15(b)--Ca1PERS Cost Share Amendment- Unrep Safety/Non-Safety/Elected Page 2 Alternative Action The City Council (Council) could decline to adopt the attached resolution and/or not introduce for reading by title only the attached ordinance. This is not recommended as these steps are required in order to move forward with amending the California Public Employees' Retirement System (Ca1PERS) contract to effectuate the change in cost sharing provisions. As a result, the City's CaIPERS contract for Classic Unrepresented Non-Safety Employees and Elected Officials would not be changed in accordance with the Employment and Benefit Policies for Unrepresented Employees. Background/Analysis On December 17, 2024, the Council adopted Resolution No. 2024-112, confirming the agreement between the City and the Classic Unrepresented Safety and Non-Safety Employees and Elected Officials for additional cost sharing of employer contributions to CaIPERS. The Classic Ca1PERS Unrepresented Non-Safety Employees and Elected Officials agreed to pay an additional .876 percent of gross wages toward the City's employer contribution, Classic Ca1PERS Unrepresented Safety Employees in Tier 1 agreed to pay an additional 1.�3 percent of gross wages toward the City's employer contribution, and Classic CaIPERS Unrepresented Safety Employees in Tier 2 agreed to pay an additional 1.62 percent of gross wages toward the City's employer contribution. The increased contribution will be effective when the Ca1PERS contract amendment has been executed. CaTPERS sets specific procedures that the City must follow to make changes to the CalPERS contract. The recommended actions will initiate the process with Ca1PERS to implement the changes as referenced above. The cost-sharing modification is permitted in Government Code Section 20516, and the pre-tax contributions are consistent with IRS Code Section 401(a). Per the Ca1PERS amendment process, staff will seek final adoption of the ordinance at the March 18, 2025 Council meeting. The Ordinance must be effective at least 30-days following the final adoption and must be effective to align with the beginning of a pay period, which results in an estimated effective date of Apri127, 2025. Envi�^onmental Review This is not a project defined under the California Environmental Quality Act, and no further action is required. Council I'Nio�ity/City Manager Goals • Budget and Financial Management — "Achieve balanced and stable 10-year Financial Plans for all funds." Attachments ^Resolution of Intention ^Uncodified Ordinance ^Certification of Governing Body's Action ^Amendment to Contract -Exhibit ES !UT! F I TE TI . 2 25- TO APPROVE AN AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATItJN CALIF4RNIA PUBLIC EMPLtJYEES' RETIREMENT SYSTEM AND THE CiTY COUNCIL CITY OF REQDiNG WHEREAS, the Public Employees' Retirement Law permits the participa#ion of public agencies and their employees in the Public Employees' Retirement System by the execution of a contract, and sets forth the pracedure by which said public agencies may elect to subject themselves and their employees to amendments ta said l.aw; and WHEREAS, ane of the steps in the procedures to amend this contract is the adaption by the governing body of the public agency of a resolutiongiving natice of its intention to apprave an amendment to said contract, which resolution shall contain a summary of the change propased in said contrac#;and WHEREAS, the following is a statement of the proposed change: To provide Section 24516(Employees Sharing Additional Cos#)of an additional 1.731 for first tier classic local palice members, 1.62% far second tier classic police members in the Unrepresented Public Safety Police Management group, and 0,876% for classic lacai miscellaneous members in the Unrepresented Non-Safety Employees and Elected Officials group. NOW,THEREFORE, SE IT RESOLVED that the governing body of the above agency does hereby give notice of intention to approve an amendment to the contract between said public agency and the Board of Administration af the Public Employees' Retirement System, a capy of said amendment being attached hereto,as an "Exhibit° and by this reference made a part hereof. BY: Presiding Clfficer Title Date adopted and appraved - (Amendmentj CON-302 IReu.3/9/2016 re) I HEREBY CERTIFY that the foregoing resolution was introduced and adopted at a regular meeting of the City Council of the City of Redding on the 18t1i day of February, 2025,by the following vote: AYES: COUNCIL MEMBERS: NOES: COUNCIL MEMBERS: ABSENT: COUNCIL MEIVIBERS: ABSTAIN: COUNCIL MEMBERS: JACK MUNNS, Mayor ATTEST: FORM APPROVED: SHARLENE TIPTON, City Clerk CH1tISTIAN 1VI. CURTIS, City Attorney ORDINANCE NO. AN UNCODIFIED ORDINANCE OF THE CITY COUNCIL OF THE CITY OF REDDING AUTHORIZING AN AMENDMENT TO THE CONTRACT BETWEEN THE CITY COUNCIL OF THE CITY OF REDDING AND THE BOARD OF ADMINISTRATION OF THE CALIFORIVIA PUBLI�C EMPLOYEES' RETIREMENT SYSTEM The City Council of the City of Redding does ordain as follows: Section l. That an amendment to the contract between the City Council of the City of Redding and the Board of Administration, California Public Emp]oyees' Retirement System is hereby authorized, a copy of said amendment on file in the City Clerk's Office, and by such reference made a part hereof as though herein set out in full. Section 2. The Mayor of the City Council is hereby authorized, empowered, and directed to execute said amendment for and on behalf of said Agency. Section 3. This ordinance shall take effect 30 days after the date of its adoption, and prior to the expiration of fifteen days from the passage thereof shall be published at least once in the Redding Record Searchlight, a newspaper of general circulation, published and circulated in the City of Redding, and theneeforth and thereafter the same sha11 be in fu11 force and effect. T T3EREBY CERTIFY that this Ordinance was introduced and read at a regular meeting of the City Council of the City of Redding on the 18th day of February, 2025; and was read and adopted at a regular meeting of the City Council on the day of , 2025, by the following vote: AYES: COUNCIL MEMBERS: NOES: COUNCIL MEMBERS: ABSENT: COUNCIL MEMBERS: ABSTAIN: COUNCIL MEMBERS: JACK MUNNS, Mayor ATTEST: FORM APPROVED: SF[ARLENE TIPTON, City Clerk CHRISTIAN M. CURTIS, City Attorney l � California Pubtic Employees'Retirement System Financia!Office �Pension Contracu and Prefund�ng Programs�ivision P.O.Box 942703,Satrarnento,CA 94229-2703 888 CaiPERS(or 888-225-�377) �TiY:($?'7}2R9-7442� www.calpers.ca.gov ' Certification of Governing Body's Action 1 hereby certify that ti�e foregoing is a true ar�d correct copy of a Resolution adopted by the Redding City Council of t e (gaverning body) City of Redding . 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