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Successor agency adopts CalPERS retirement and health contracts to continue benefits
Summary
OCII adopted resolutions to enter into CalPERS retirement and health contracts that continue benefits previously provided by the San Francisco Redevelopment Agency; staff said the change is administrative and will not alter benefit levels or costs for employees and retirees.
The Successor Agency to the San Francisco Redevelopment Agency on Oct. 18 approved two resolutions authorizing the agency to enter into contracts with the California Public Employees’ Retirement System (CalPERS) for retirement benefits and for health benefits for employees and retirees formerly covered by the redevelopment agency.
Deputy Director of Finance and Administration (transcript name variants) told commissioners the change is administrative: the successor agency inherits assets and liabilities of the former San Francisco Redevelopment Agency and must execute new CalPERS contracts to preserve continuous retirement and health coverage. Staff said plan benefits and employee costs remain the same; employees and retirees will instead see the successor-agency name on their benefit cards. CalPERS required the administrative change so ongoing payments and health coverage are uninterrupted.
Commissioners asked whether OCII participates in the city’s SPERS pension system; staff clarified that OCII is not part of the San Francisco Employee Retirement System and that OCII’s benefits are administered through CalPERS under state law. A combined motion to approve both resolutions carried on a roll call of 4 ayes and 1 absent.
Staff noted a small administrative step for employees: active and retired employees must complete open-enrollment forms to select health providers and plan options under the successor-agency contract; the agency coordinated the enrollment timing so implementation on Jan. 1 will be seamless.
