HomeMy WebLinkAbout2010-142 - PERS Contribution for Key and Management EmployeesRESOLUTION NO. 2010 -142
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT
BEACH RESCINDING RESOLUTION NO. 94 -38 TO MODIFY THE PAYING
AND REPORTING OF THE VALUE OF THE EMPLOYER PAID MEMBER
CONTRIBUTION TO THE CALIFORNIA PUBLIC EMPLOYEES RETIREMENT
SYSTEM (CALPERS) FOR KEY AND MANAGEMENT EMPLOYEES
WHEREAS, the City Council of the City of Newport Beach previously
adopted Resolution No. 94 -38 to pay and report the value of the 7% Employer
Paid Member Contribution (EPMC) to CalPERS for employees in the Key and
Management group; and
WHEREAS, the City Council of the City of Newport Beach has the
authority to implement Government Code Section 20636(c)(4) pursuant to
Section 20691 to report the value of the Employer Paid Member Contribution if
provided for in a written agreement; and
WHEREAS, the City Council of the City of Newport Beach has adopted a
Key and Management Compensation Plan which specifically provides a portion
of the normal member contribution to be paid by the employer and reported as
additional compensation; and
WHEREAS, one of the steps in the procedures to implement Section
20691 is the adoption by the City Council of the City of Newport Beach of a
resolution to modify the paying and reporting of the EPMC; and
WHEREAS, the City Council of the City of Newport Beach has identified
the following conditions for the purpose of its election to pay and report the value
of the EPMC.
NOW, THEREFORE, the City Council of the City of Newport Beach does
RESOLVE to pay and report the value of EPMC as follows:
Section 1. This benefit shall apply to all employees in the Key and
Management group.
Section 2. Effective January 1, 2011, this benefit shall be modified
to consist of paying 5.5% of the normal contributions as EPMC and reporting the
same percent (value) as compensation earnable (excluding Government Code
Section 20636(c)(4)) as additional compensation;
Section 3. Effective July 2, 2011, this benefit shall be modified to
consist of paying 4.0% of the normal contributions as EPMC, and reporting the
same percent (value) as compensation earnable (excluding Government Code
Section 20636(c)(4)) as additional compensation;
Section 4. Effective December 31, 2011, this benefit shall be
modified to consist of paying 2.42% of the normal contributions as EPMC, and
reporting the same percent (value) as compensation earnable (excluding
Government Code Section 20636(c)(4)) as additional compensation.
Adopted this 14th day of December, 2010.
Mayor of the City of Newport Beach
ATTEST.
City Clerk O
C'4LE FCC
STATE OF CALIFORNIA }
COUNTY OF ORANGE } as.
CITY OF NEWPORT BEACH }
I, Leilani I. Brown, City Clerk of the City of Newport Beach, California, do hereby
certify that the whole number of members of the City Council is seven; that the foregoing resolution,
being Resolution No. 2010 -142 was duly and regularly introduced before and adopted by the City
Council of said City at a regular meeting of said Council, duly and regularly held on the 14th day of
December, 2010, and that the same was so passed and adopted by the following vote, to wit:
Ayes: Selich, Rosansky, Henn, Gardner, Daigle, Webb, Mayor Curry
Noes: None
Absent: None
Abstain: None
IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed the
official seal of said City this 15th day of December, 2010.
� L
City Clerk
Newport Beach, California
(Seal)