RECOMMENDATION(S):
ADOPT Resolution No. 2016/65 confirming applicability of Government Code section 31870 (Two Percent Cost of Living Adjustment to Retirement Benefit) for employees represented by AFSCME Local 512, AFSCME Local 2700, and Western Council of Engineers, who become New Members of CCCERA on and after July 1, 2014, in the PEPRA Retirement Tier.
FISCAL IMPACT:
Implementation of a change in the Cost of Living Adjustment (COLA) to the pension benefit for employees represented by AFSCME Local 512, AFSCME Local 2700, and Western Council of Engineers, who become New Members of CCCERA on and after July 1, 2014, in the PEPRA Retirement Tier is intended to result in long term savings for both the employees and the County.
BACKGROUND:
|