Amend city employee retirement savings plan rules
Resolution Resolution No. 130-09
In Plain English
The city offers employees a 457(b) retirement savings plan that lets them set aside pre-tax income for retirement. The current plan rules were last updated in 2009. If approved, updated rules align the plan with current federal regulations and improve investment options for city workers.
Auto-generated summary. Source: official agenda documents.
Votes
Approve consent calendar
6 to 0
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5 related items found by meaning
Amend employee retirement savings plan to add administrator and restructure committees
Amend CalPERS contract to allow police and fire pension transfers
Amend CalPERS contract to make classic safety employees pay 2% more toward retirement
Adopt pre-tax payroll deduction plan for CalPERS retirement credit purchases
Allow police and fire pension members to transfer to CalPERS
The Story So Far
9 prior discussions on this topic
Meet privately with union negotiators to discuss employee contracts
Approve new 3-year contract with firefighters union covering wages and benefits
Meet privately with union representatives to discuss employee contracts
Approve hiring temporary fire department supervisors and add other city positions
Receive presentation on Rent Board staffing levels and recruitment
Receive 4 February financial reports on investments, overtime costs, property taxes, and retirement benefits
Hold closed-session meeting to discuss contract negotiations with 6 employee unions
Receive monthly financial reports for January 2026
Receive monthly financial reports for December 2025