Resolution - 2012-59RESOLUTION NO.2012-59
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WEST
COVINA, CALIFORNIA, AMENDING RESOLUTION NO. 2007-65
RELATING TO MANAGEMENT BENEFITS FOR DEPARTMENT
HEADS
WHEREAS, the City of West Covina is experiencing significant financial challenges
due to declining revenues and impacts of the recession as well as continued rising pension costs
due, in part, to investment losses in the CAPERS retirement system; and
WHEREAS, the City of West Covina has evaluated its benefits packages in response to
the financial challenges facing the City,
NOW, THEREFORE, the City Council of the City of West Covina does resolve,
determine and order that Resolution No. 2007-65 relating to management (Department Head)
benefits is hereby amended as follows:
SECTION 1. PERS Member Contribution: Effective the first day of the pay period
beginning on or after July 1, 2012, the Police Chief and the Fire Chief will pay the 9% employee
contribution to the Public Employees' Retirement System (PERS) for their retirement benefit.
SECTION 2. PERS Formula: Effective as soon as the City's contract with PERS is
amended; all new hires into the above classifications will participate in a second tier of
retirement benefits that Will include the 3% '@ 55 retirement option pursuant to Government
Code Section 21363.1 and the Three -Year Average Final Compensation Optionpursuant to
Government Code Section 20037.
APPROVED AND ADOPTED on this 17th day of July 2012.
ATTEST:
4
City Clerk Larurie Carrico
.I, LAURIE CARRICO, CITY CLERK of the City of West Covina, California, do hereby certify
that the foregoing resolution was duly adopted by the City Council of the City of West Covina,
California, at a regular meeting held thereof on the 171h day of July, 2012 by the following vote
of the City Council:
AYES:
Herfert, Sanderson, Sotelo, Sykes
NOES:
None
ABSENT:.
Touhey
ABSTAIN:
None
APPROVED AS TO FORM:
144� A _/ _
City Attorney Arnold Alvarez-Glasman