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Council receives CalPERS actuarial analysis on retirement incentive; action expected in two weeks
Summary
Council received and filed a CalPERS actuarial cost analysis for a proposed two-year additional service credit retirement incentive; CalPERS estimated $2.9 million if all eligible staff retired, but city staff expect 5'9 participants with likely cost nearer $800,000'$900,000 and will return with action in two weeks.
The Calabasas City Council received a CalPERS actuarial cost analysis for offering a two-year service credit retirement incentive to eligible employees but took no action; council is scheduled to consider the item at its next meeting in two weeks.
Finance Director Ron Ollars…
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