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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 />estimated savings of $475,000 annually. These estimated savings were incorporated in <br />the current 2015-16 budget, and future budget projections. The implementation of cost- <br />sharing as an increase to the employee share, rather than a pick-up of the employer <br />share, does not result in any changes to current and projected retirement 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 /> <br /> <br />MELISSA STEVENSON DIAZ <br />CITY MANAGER <br /> <br />ATTACHMENTS <br />1. Ordinance authorizing an amendment to the contract between the City Council of <br />Redwood City and the Board of administration of the California public employees’ <br />retirement system (CALPERS) for Tier 1 and Tier 2 IAFF Local 2400 Members <br />2. CALPERS Contract Amendment <br />3. Resolution 15478 of intention to approve an amendment to contract between the <br />board of administration of the California public employees’ retirement system <br />(CALPERS) and the city council of the city of redwood city <br />8.B. - Page 2