AgdaPkt 2013-05-20 Closed Cancelled and Special

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7.A. - Page 73 Attachment 6 information technology, and financial support operations for the City, with over $172 million in annual revenues. Mr. Ponty has taught finance and accounting classes at Golden Gate University. He has a Bachelor of Science in Business Administration-Accounting-from the University of San Francisco and a Master of Business Administration-Finance—from California State University,Hayward (now known as California State University,East Bay). Alison Freeman,Financial Services Manager. Ms. Freeman has served as Financial Services Manager for the City since 2000.From 1991 to 2000 she was the Assistant Finance Director for the City of South San Francisco. Prior to that, Ms. Freeman served in various positions with other governmental agencies in California. Ms. Freeman holds a Bachelor of Science degree in Accounting from California State University,San Diego. Bill Ekern, Community Development Director. Bill Ekern is the Community Development Director for the City of Redwood City. Before coming to Redwood City, he worked for the San Jose Redevelopment Agency for 17 years.Bill has also served as the Community Development Director for the City of Albany, California, and as Public Works Director for the Town of Los Altos Hills. His undergraduate degree is from the University of California, Davis. He has a Master's Degree in Public Administration from San Jose State University. Employee Senefits PERS Safety and Miscellaneous Employees' Plans. Substantially all City employees are eligible to participate in pension plans offered by California Public Employees'Retirement System(PERS),an agent multiple-employer defined benefit pension plan which acts as a common investment and administrative agent for its participating member employers. PERS provides retirement and disability benefits, annual cost of living adjustments, and death benefits to plan members who must be public employees and beneficiaries. The City's employees participate in the separate safety (police and fire) and miscellaneous (all other) employee plans. Benefit provisions under both plans are established by state statute and City resolution. Benefits are based on years of credited service, equal to one year of full time employment. Funding contributions for both plans are determined annually on an actuarial basis as of June 30 by PERS;the City must contribute these amounts. The plans'provisions and benefits in effect at June 30,2012 are summarized as follows: Public Safety Public Safety Miscellaneous Miscellaneous Tier 1 Tier 2 Tier 1 Tier 2 Benefit vesting schedule 5 years service 5 years service 5 years service 5 years service Benefit payments monthly for life monthly for life monthly for life monthly for life Retirement age 50 50 50 50 Benefit factor for each year 3% 2,4%_3% 2%_2 7% 1 092%_2 418% of service,as a%of annual salary Required employee 9% 9% S% 7% contribution rates The City's Tier 2 plans for public safety and miscellaneous cover new employees hired on or after October 13,2011. Employer contributions are determined by PERS as a percentage of covered payroll and represent the actuarially required contribution.The employer contributions for the past three years are: Public Safety Miscellaneous 2010 29.389% 15.423% 2011 29.936% 15.540% 2012 35.315% 18.328% Appendix A Page 2