Amend CalPERS contract to allow police and fire pension transfers
In Plain English
The city operates its own pension plan for police officers and firefighters separate from the state CalPERS system. This change allows current members of the local pension plan to transfer their benefits to CalPERS if they choose. The transfer option gives employees more flexibility in managing their retirement benefits.
Auto-generated summary. Source: official agenda documents.
Votes
Approve consent calendar
7 to 0
Community Discussion
This discussion was submitted to the City Clerk as part of the public record.
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Allow police and fire pension members to transfer to CalPERS
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Allow firefighters and police to pay extra 1% toward retirement benefits
The Story So Far
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