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<br /> <br />will be presented with the final Ordinance. It is anticipated that the final Ordinance will <br />be presented on March 28, 2016. Thirty days after the final reading, the Amendment <br />will become effective. Beginning with the subsequent pay period, starting May 2, 2016, <br />payroll will start reporting the cost sharing to CalPERS. <br /> <br />A separate resolution will be introduced later this year to implement the one percent <br />(1%) increase scheduled for January 2017. <br /> <br />ALTERNATIVES <br />Changes to employees’ cost sharing were previously negotiated with the IAFF Local <br />2400 bargaining unit and approved by Council on February 9, 2015. Therefore, no <br />alternative actions are recommended. <br /> <br />FISCAL IMPACT <br />The agreement with IAFF to increase employee contributions to retirement, results in an <br />estimating savings of $475,000 annually. These estimated savings were incorporated in <br />the current 2015-2016 budget, and future budget projections. The implementation of <br />cost-sharing as an increase to the employee share, rather than a pick-up of the <br />employer share, does not result in any changes to current and projected retirement <br />costs. <br /> <br />ENVIRONMENTAL REVIEW <br />This activity is not a project under CEQA as defined in CEQA Guidelines, section <br />15378, because it has no potential for resulting in either a direct or foreseeable physical <br />change in the environment. <br /> <br /> <br />LEAH LOCKHART <br />HUMAN RESOURCES MANAGER <br /> <br />MELISSA STEVENSON DIAZ <br />CITY MANAGER <br /> <br />ATTACHMENTS <br />1. RESOLUTION OF INTENTION <br />2. CALPERS CONTRACT AMENDMENT <br />3. ORDINANCE <br />6.4.B. - Page 3