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6.3. B. - Page 3 <br /> FISCAL IMPACT <br /> Employee contributions toward the City's pension obligations will result in direct savings <br /> to the City. These changes and others associated with the labor agreements resulted in <br /> an estimated savings of $1,990,357 in FY 2011-12, and $2,536,891 in FY 2012-13. The <br /> FY 2013-14 savings will be calculated and presented in the FY 2013-14 Budget. <br /> ENVIRONMENTAL REVIEW <br /> Adoption of a resolution implementing this IRS regulation that will allow employee <br /> contributions toward the employer cost of pension costs be made on a pre-tax basis is <br /> not a"project" pursuant to the California Environmental Quality Act (CEQA). (CEQA <br /> Guidelines §15324, Regulations of Working Conditions, and §15378, Project). <br /> GARY ROGERS <br /> INTERIM HR DIRECTOR <br /> �� <br /> ROBERT B. BELL, <br /> CITY MANAGER <br /> Attachment <br /> 1. Resolution implementing Section 414(h)(2) of the Internal Revenue Code <br />