Adoption of an Ordinance Authorizing a Contract Amendment between the Public Employees Retirement System (PERS) and the City of Culver City to Implement 2% at 60 and Three Year Final Compensation for New Hires in the Local Miscellaneous Plan (Culver City Management Group (CCMG) Executive Compensation Plan (ECP) and Culver City Employees Association (CCEA). City of Culver City California Agenda Item Report Item Number: C 5 Meeting Date: 11/07/11 CITY COUNCIL AGENDA ITEM: Adoption of an Ordinance Authorizing a Contract Amendment between the Public Employees Retirement System (PERS) and the City of Culver City to Implement 2% at 60 and Three Year Final Compensation for New Hires in the Local Miscellaneous Plan (Culver City Management Group (CCMG) Executive Compensation Plan (ECP) and Culver City Employees Association (CCEA). Contact Person/Dept.: Serena Wright Phone Number: 310 253 5640 Fiscal Impact: Yes X No General Fund: Yes X No Public Hearing: Action Item: Attachments: X Commission Action Required: Yes No X Dates: Public Notification: (E Mail) Agenda and Meetings City Council (11/03/11); Culver City Management Group (11/02/11); Culver City Employees Association (11/02/11) Department Approval: Serena Wright (10/31/11) Chief Financial Officer Approval: Jeff Muir (11/02/11) City Attorney Approval: Carol Schwab (by H. Baker) (11/02/11) City Manager Approval: John M. Nachbar (11/03/11) RECOMMENDATION: Staff recommends that the City Council adopt an ordinance authorizing a contract amendment between the Public Employees Retirement System (PERS) and the City of Culver City to Implement 2% at 60 and Three Year Final Compensation for New Hires in the Local Miscellaneous Plan (Culver City Management Group (CCMG) Executive Compensation Plan (ECP) and Culver City Employees Association (CCEA)). BACKGROUND: The City Council recently adopted three (3) Memoranda of Understanding (MOU s): May 23 2011: Culver City Management Group (CCMG); June 13 2011: Executive Compensation Plan (...
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