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Council reviews proposal to increase city retirement contribution; staff to provide feasibility analysis
Summary
Councilmembers discussed a proposed increase in the city's retirement contribution from 2.5% to 3% (with matching provisions) and requested a feasibility study and financial impact analysis before action.
The council discussed a resolution (R‑34‑2025) proposing an increase in city retirement contributions during the Jan. 6 work session.
A staff summary noted the city currently contributes 2.5% with additional matching provisions up to 4% for the 457 plan; the proposal would raise the base contribution to 3% and leave existing match rules in place. Council asked for a fiscal feasibility analysis to confirm whether the city could afford the change and the longer‑term fiscal implications if contribution levels were raised further.
Councilmember Catherine (identified in the packet as Councilmember Fareed in prior exchanges) asked whether a feasibility study had been completed to test affordability and potential to increase contributions up to 7%. Staff agreed to prepare backup materials and a fiscal impact estimate for the council’s review.
No formal vote was taken during the work session; staff said they would prepare supporting materials, including a feasibility analysis and cost estimates, and circulate them to council members for consideration before a vote.
