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CITY OF COLTON <br />AGENDA REPORT (CONTINUED) <br />FOR COUNCIL MEETING OF August 6, 1991 <br />SUBJECT: Consider Rescinding Resolution No. R-118-89 <br />Authorizing City Manager To Modify Methods Of <br />Compensation For Retiring Employees <br />FISCAL IMPACT• <br />Although there will be no loss .of current compensation, there will be a <br />reduction in future retirement benefits for the three individuals <br />currently on Colton's conversion program. Since the conversion program <br />is voluntary, legal counsel suggests that we assume no liability for any <br />loss of retirement benefits for current or past employees who have <br />elected this alternative. Retired employees who feel that their <br />retirement benefit does not represent full compensation, will need to <br />file an appeal directly to PERS. <br />RECOMMENDATION• <br />Approve a resolution rescinding City Resolution No. R-118-89, by title as <br />follows: <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY <br />OF COLTON, CALIFORNIA, RESCINDING RESOLUTION <br />NO. R-118-89, ALLOWING THE CITY MANAGER TO <br />MODIFY EMPLOYEE COMPENSATION <br />Attachment: Resolution <br />Page 2 of 2 Item No. <br />