Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Calabasas council begins process to offer two-year pension service-credit incentive, approves ordinance
Summary
The Calabasas City Council voted unanimously Feb. 11 to begin the required steps to amend its CalPERS contract to offer two additional years of service credit as a retirement incentive for eligible employees; staff said the cost would first affect the 2028–29 fiscal year pending an actuarial study.
The Calabasas City Council on Feb. 11 moved to adopt a resolution of intention and an implementing ordinance that start the process to amend the city's contract with the California Public Employees' Retirement System (CalPERS) to provide a two-year service-credit retirement incentive for eligible employees.
Chief Financial Officer Ron Allers told the council the change "provides two years of additional service credit to those employees who are eligible to retire," and described the city's plan to request an actuarial study from CalPERS. Allers said the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
