Agmt24 City of San Carlos Fire && Emergency Services Amendment No. 3

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ATTY/AGR.2024/AMEND. NO. 3/CITY OF REDWOOD CITY AND SAN CARLOS FIRE & EMERGENCY SERVICES REV: 06-20-24 VR Page 4 of 28 City is currently making to reduce workers compensation costs, including safety prevention and early detection programs as well as early engagement and weekly management of workers’ compensation claims. San Carlos further acknowledges that Redwood City may alter such efforts in its sole and absolute discretion as dictated by the best interests of its program. (4) San Carlos shall pay the CalPERS Unfunded Liability associated with providing the Services (which are included in Exhibit “C”, Item F) at 50% of the “Unfunded Rate” or its equivalent as shall be provided by CalPERS. (5) San Carlos shall pay the other post-employment benefits (OPEB) Unfunded Liability associated with providing the Services (which are included in Exhibit “C”, Item F) at 50% of the “Unfunded Rate.” (f) Redwood City shall submit quarterly invoices to San Carlos pursuant to this Agreement and payments shall be made by San Carlos to Redwood City within thirty (30) days of invoice. (g) The City Managers of the Participating Agencies may extend any deadline set forth in this Section 2 through a written agreement signed by both City Managers. (h) During the term of the Agreement, the Participating Agencies will verify the actual cost of services through a true-up process shall be as follows: 1. Salaries and benefits will be reconciled based on actual costs. 2. The Unfunded Liability cost shall reflect the 50% rate set forth in Subsections 2(e)(i)(4) and 2(e)(i)(5) above for the term of the Agreement and will be calculated and applied at the end of the fiscal year based on the actual headcount charged to the contract. This is based on the actuarial report completed in October 2023. The Unfunded Liability cost shall reflect the terms of Subsections 2(e)(i)(4) and 2(e)(i)(5) and the workers’ compensation cost shall reflect the terms of Subsection 2(e)(i)(1), and such costs are not subject to review by San Carlos. 3. Supplies and services charges will not be reconciled. 4. The true-up process will be completed within 12 months following the second fiscal year and every year thereafter for the term of the Agreement. Increases and decreases in the actual cost of services incurred during any fiscal year shall be carried on the books of Redwood City as a credit or charge in the fiscal year following the bi-annual true-up process. Docusign Envelope ID: E05468C4-A699-4430-A510-E42D7232B74D