Receipt and Filing of the Information Related to the City s Intention to Provide Additional Service Credit for Local Miscellaneous Members of the California Public Employees Retirement System (CalPERS) and Certify Compliance with Government Code Sections 20903 and 7507 City of Culver City California City Council Agenda Item Report Meeting Date: 1/25/10 AGENDA ITEM: Receipt and Filing of the Information Related to the City s Intention to Provide Additional Service Credit for Local Miscellaneous Members of the California Public Employees Retirement System (CalPERS) and Certify Compliance with Government Code Sections 20903 and 7507 Contact Person/Dept.: Serena Wright Phone Number: (310) 253 5640 Item Number: A 1 Fiscal Impact: Yes X No General Fund: Yes X No Action Item: X Public Hearing: Public Notification: (E Mail) Meetings and Agendas City Council (01/20/10) Culver City Management Group (01/xx/10) Culver City Employees Association (01xx/10) Department Approval: Serena Wright (01/21/10) Chief Financial Officer Approval: Mark Scott (01/21/10) City Attorney Approval: Carol Schwab (by H. Baker) (01/21/10) City Manager Approval: Mark Scott (01/21/10) Attachments: RECOMMENDATION: Staff recommends that the City Council (1) receive and file information related to the City s intention to provide additional service credit for Local Miscellaneous Members of the California Public Employees Retirement System and (2) certify compliance with Government Code Sections 20903 and 7507. BACKGROUND: As discussed over the past several months the City is facing significant budgetary challenges due to the current economic downturn. Consistent with the direction of the City Council and City Manager staff is undertaking a number of measures to address the projected budget shortfall. As part of the strategy staff is recommending that the City Council offer eligible employees within certain job classifications two years of additional service credit the California Public Employees Retirement...
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