06-27-2023 CC PFA Minutes - Laserfiche WebLink

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CITY COUNCIL PUBLIC FINANCING AUTHORITY MINUTES TUESDAY, JUNE 27, 2023, 1 P.M. City?fArts&Innovation PUBLIC COMMENT IN PERSON/TELEPHONE ART PICK COUNCIL CHAMBER 3900 MAIN STREET DISCUSSION CALENDAR CALPERS RETIREMENT COST-SHARING - RESOLUTIONS Following discussion, it was moved by Councilmember Cervantes and seconded by Councilmember Edwards to (1) adopt a Resolution to request an amendment to the contract between CalPERS and the City of Riverside for the implementation of a cost- sharing provision of 6.5% for all Tier 1 (hired prior to June 13, 2012) Unrepresented Police Management employees in the Police Safety group to pay 6.5 percent of the employer contribution of pensionable income pursuant to Government Code Section 20516 effective as soon as administratively possible; and (2) adopt a Resolution for paying 5 percent of the normal member contributions as Employer Paid Member Contributions (EPMC) and reporting the same percent (5%) as compensation earnable (excluding Government Code Section 20636(c) (4)) as additional compensation for Tier 1 employees in the Riverside Police Officers' Association hired between February 17, 2012 and June 12, 2012, effective July 7, 2023. The motion carried with Councilmembers Edwards, Cervantes, Conder, Perry, and Hemenway voting aye and Councilmember Fierro and Councilwoman Plascencia absent. Whereupon, the titles having been read and further readings waived, Resolution No. 24004of the City Council of the City of Riverside, California, Relating to CALPERS Retirement Cost -Sharing under Government Code Section 20516 by Unrepresented Police Management Employees in the Police Safety Group and Resolution No. 24005of the City Council of the City of Riverside, California, Paying and Reporting the Value of Employer Paid Member Contributions for Tier 1 Employees in the Riverside Police Officers' Association Unit Hired between February 17, 2012 and June 12, 2012, effective July 7, 2023, were presented and adopted. RIVERSIDE TRANSMISSION RELIABILITY WORKING GROUP UPDATE Following discussion and without formal motion, the City Council received and ordered filed a report and update on the Riverside Transmission Reliability Project (RTRP). CLOSED SESSIONS The City Attorney announced that all closed session items were removed from the agenda.