AgdaPkt 2005-05-23 - Laserfiche WebLink

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PENSION from page 1 ............. The package will address the issues of .smoothing, spiking and chiefs' disease: Some of the goals that will be sought on these top three issues are as follows: . Smoothing (Rate Stabilization) Goal: minimize the impact on the funded status of the plans; minimize the volatility in the employer's contributions and minimize the average future employer contribution. . Spiking (Benefit Manipulation) Goal: Umit pension .spiking" (the practice of inflating the salary upon which the lifetime pension is based). The new policy will provide a standard- ized understanding throughout California of what should be included in retirement calculations, . Chief's Disease (Industrial Disability Re- tirement) Goal: Stop the abuse of disability retirement by those who apply for disability when they are ready to retire in order to gain a tax advantage, as well as those who receive a disability benefit and then find a similar physically demanding or high stress position with a different employer. League representatives have been meeting with administration officials over the past weeks to provide input on various issues on pension retonn. The administration will continue to meet with stake- holders, gather input and roll out their version ot pension retonn sometime this spring or summer. " is the goal ot the League to support a retonn package that has input from all stakeholders and one that presents a united effort. /7/-7 PROP 42 from page 6 ............. in critically needed funding for pubfic transit, the Traffic Congestion Relief Plan (TCRP) and the State Transportation Improvement Program (STlP). For FY 2005-06, sales tax on gasoline is projected to be $1.3 billion or higher due to recent price increases in gasotine. The govemor's January budget proposed to con- tinue the transfer in FY 2005-06. Further, the governor has indicated his interest in a further transfer in FY 2006-07, followed by his support for a constitutional amendment to make addi- tional transfers more difficult, and repayment of the last two years' transfer (without interest) over a 15-year period. If the proposed FY 2005-06 transfer were enacted in the final budget, cities and counties would lose an estimated $253 million (or more) in needed transportation maintenance money. Stay Up-To-Date on Bills That May Impact Your City www .cacities.ora/billsearch Become a regular user of the League's online Legislative Tracking System. The League's website is your gateway to all the information you need: bills sorted by subject areas, show- ing the bill history, current status, committee analyses, votes, and much more. You can even view League letters of support or opposi- tion, and access the League lobbyist working on the bill. Visit the league's Official Website .. www.cacities.org PRIORITY FOCUS/PAGE 7