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Calabasas council adopts CalPERS contract amendment to offer two-year retirement incentive
Summary
The Calabasas City Council unanimously adopted a resolution and ordinance on Feb. 11 to amend its CalPERS contract, allowing eligible employees a two-year service-credit incentive; the city says budget impacts begin in fiscal 2028'29 and the council will set the retirement window after an actuarial study.
The Calabasas City Council unanimously approved a resolution of intention and adopted an ordinance on Feb. 11 authorizing an amendment to the city's contract with the California Public Employees' Retirement System (CalPERS) that would give eligible employees two years of additional service credit as a retirement incentive.
Ron Allers, the city's chief financial officer, told the council the incentive would apply to classic members age 50 and older and to PEPRA members age 52 and older, each with at least five years of service. He said the council previously adopted a resolution in January that CalPERS rejected for formatting and wording…
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