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<br /> 'ô þ.;~ <br /> CALPERSfrornpage 1.. .... .... ..... Economic Development <br /> Since AB 719 passed last year, CalPERS <br /> has been researching issues related specifically Handbook <br /> to the purchase type of the air time bill. Under <br /> current law, the calcul, 'tion methodology for all ECL "omlc Development, Business <br /> service credit purchase 'ypes are intended to be Growth & Oecllne, and The Strategic <br /> fully member-funded. Thl interest rate proposed <br /> to be charged on installment purchases of air Planning Process <br /> time has been at 6% (the rate of interest cred- <br /> ited to employee accounts). The Board voted to NEW: A tool to help educate city <br /> change the interest charged to employees to officials about ways to tackle serious <br /> 8.25% to ensure that the employer would not be economic policy issues. <br /> picking up the 2.25% difference. (This potential <br /> actuarial loss would have been reflected in Plus: <br /> future employer rates.) The Board voted to . Best practices and case studies <br /> uphold the legislative intent of AB 719 which . Secrets for developing economic <br /> was very clear in stating that the provisions of development success <br /> the bill were intended to be cost-neutral to the . Tools for understanding and analyzing a <br /> employer, and that the employee would pay the <br /> full present value cost of the additional service community's economic base <br /> credit. . Developing and implementing a strategic <br /> economic development plan <br /> Harriet Commons of the City of Fremont did . Benchmarking tools and tips on putting it <br /> an outstanding job at presenting to the Board all together. <br /> the problems with charging the employee 6% <br /> instead of 8.25%. and how that would be re- This publication is available from the League for <br /> flected as an increase in future employer rates. $15. There is a ten percent discount on orders <br /> For more information on how your city can get of five or more. <br /> involved in future CalPERS Board issues, <br /> please contact Amy Brown at 916-658-8279, Questions? Contact League Publications at <br /> email abrown@cacities.org. 916/658.8257 or order online at: <br /> www.cacities.org/store. <br /> For legislators' phone numbers, addresses and e-mail please see the League's website <br /> (www.cacities.or!l/advocacvcenter). <br /> PAGE 6/PRIORITY FOCUS Visit the League's Official Web Site--www.cacities.org <br />