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Item #11 <br />CITY OF COLTON <br />AGENDA REPORT <br />FOR THE COUNCIL MEETING OF JANUARY 21, 2003 <br />TO: HON. MAYOR AND MEMBERS OF THE CITY COUNCIL <br />FROM: Teresa S. Delgado, Human Resources Manager IV/ <br />SUBJECT: Costs Related to Retirement Opportunity and Establishing Period of Time - <br />Golden Handshake - Miscellaneous Members <br />DATE: January 14, 2003 <br />BACKGROUND: <br />Effective June 6, 2001, the City's contract with the California Public Employees' Retirement System <br />(Ca1PERS) was amended to allow two years of additional service credit (Golden Handshake) for local <br />miscellaneous members only. <br />Effective December 7, 2002, the same contract was also amended for local miscellaneous members to <br />include the retirement benefit of 2.7% at age 55. <br />ANALYSIS/DISCUSSION: <br />To fortify the City's organization and budget, City Council directed City Staff to offer additional service <br />credit, pursuant to Government Code Section 20903 and 7507, to eligible employees: <br />Administrative Assistant - Electric <br />Electric Engineering and Power Resources Manager - Electric <br />Meter Operations Supervisor - Electric <br />Account Technician II - Finance <br />Purchasing Manager - Finance <br />Risk Manager - Finance <br />Storekeeper - Finance <br />Equipment Maintenance Manager - Public Services <br />Administrative Assistant - Redevelopment Agency <br />Animal Control Officer (non-swom) - Police Department <br />The time period during which the eligible members must retire to receive the additional service credit will <br />be from February 5. 2003 to May 29, 2003. <br />ENVIRONMENTAL IMPACT: <br />This item does not carry environmental impact. <br />