Join CalPERS trust fund to prepay police retiree health benefits
Resolution 37-18
In Plain English
The city currently pays police retiree health benefits as bills come due each year. This agreement lets the city set aside money now in a state-managed investment fund to cover future costs. If approved, the city can reduce long-term expenses by earning investment returns on prepaid contributions.
Auto-generated summary. Source: official agenda documents.
Votes
Approve consent calendar
5 to 0
Community Discussion
This discussion was submitted to the City Clerk as part of the public record.
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Similar Discussions
5 related items found by meaning
Amend CalPERS contract to make classic safety employees pay 2% more toward retirement
Allow police and fire pension members to transfer to CalPERS
Amend CalPERS contract to allow police and fire pension transfers
Adopt policy for funding retiree health benefits
Approve policy for funding retiree health benefits
The Story So Far
10 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
Approve 3-year labor contract with city employees union through 2028
Approve 3-year contract with part-time city employees union
Approve 3-year contract with mid-management union including 5% annual raises
Add 10 temporary firefighter positions and convert 1 paralegal to office specialist
Approve 3-year union contract with management employees covering wages and benefits