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OCII authorizes CalPERS contract amendment to incorporate 1.25% employee contribution
Summary
The commission approved a resolution authorizing amendment of the successor agency's CalPERS contract to include a previously approved 1.25% employee contribution and to resolve pretax treatment so separated employees can receive full refunds.
The Successor Agency commission voted Nov. 6 to amend its contract with the California Public Employees' Retirement System (CalPERS) to formally incorporate a previously implemented 1.25% employee contribution to retirement benefits.
April Ward, senior personnel analyst, explained that OCII has provided retirement benefits through a contract with CalPERS and that employee cost‑sharing provisions were negotiated with bargaining units beginning in 2015. The presentation summarized past implementation dates for the employee contributions and noted the current CalPERS contract incorporated earlier contributions but not the 1.25% amount taken in mid‑2016; a staff election required by CalPERS was held and passed.
Commissioner Singh moved approval; Commissioner Scott seconded and the commission adopted the resolution by roll call (4 ayes, 1 absent). Ward said the amendment will also resolve pretax tax treatment so separated employees may receive full refunds of their contributions.
