HomeMy WebLinkAboutCouncil Agenda StatementCITY OF NATIONAL CITY, CALIFORNIA
COUNCIL AGENDA STATEMENT
MEETING DATE: April 5, 2011
AGENDA ITEM Na i
ITEM TITLE:
Notice of the City Of National City's intent to enact. Government Code Section 20903, Two Years
Additional Service Credit at an estimated cost of $250,000, amortized over 20 years resulting from an
economically driven reduction in workforce initiative.
PREPARED BY: Stacey Stevenson DEPARTMENT:
PHONE: 336-4308 APPROVED BY:
EXPLANATION:
In response to the City's projected structural deficit, and in compliance with Government Code Section
7507, the City of National City hereby states its intent to enact a Purchase of Service Credit eligibility
period of 90 days, effective April 1, 2011. During the 90 day eligibility period, employees of the City of
National City meeting retirement eligibility requirements and approved by the City Manager may elect to
retire and receive two additional years of service creditable towards retirement through the California
Public Employee Retirement System (CaIPERS).
FINANCIAL STATEMENT:
ACCOUNT NO.
APPROVED:
APPROVED:
Finance
MIS
The potential cost of this proposed future action is estimated at $250,000, amortized over 20 years,
beginning in fiscal year2013/2014.
ENVIRONMENTAL REVIEW:
ORDINANCE: INTRODUCTION:
STAFF RECOMMENDATION:
FINAL ADOPTION:
BOARD I COMMISSION RECOMMENDATION:
ATTACHMENTS: