Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Personnel Policy topic
No spam. Unsubscribe anytime.
Council considers 401(k) match and covering Tier 2 public-safety costs
Summary
Staff presented options to adopt a city 401(k) match (modeled at 1%–3%) and to pick up some public-safety Tier 2 pension costs; a 3% match was estimated at about $147,000 under staff assumptions and Tier 2 public-safety pickup was estimated at about $89,000 in the packet.
Council discussed creating a city match for employee 401(k) contributions and separately covering part of Tier 2 public-safety pension costs to improve retention.
Staff presented participation data and modeled costs. "The estimate of a 3% match cost would be a $147,000, but it theoretically could max out at $232,000 if everyone participated," the presenter said, explaining the assumptions behind the scenario. Staff also noted that 62% of URS-eligible employees contribute something and that a city match could increase participation.
Members discussed targeting Tier 2 public-safety pickup before a broad match because many agencies pick up that cost to remain competitive. Staff said the budget already includes roughly $89,000 for Tier 2 public-safety in the FY2026 draft and recommended returning with line‑by‑line cost comparisons. Council gave tentative direction to structure a match (examples discussed included a 50% city match up to a maximum) and asked staff to return with final numbers and policy language to include in the budget adoption process.
