With the passage of Proposition E in June, 2020, the City is examining ending its in-house pension plan and transitioning all Police and Fire employees to LAGERS, a statewide municipal retirement program. LAGERS is the retirement system that our Administration and Public Works employees participate in. As part of that transition, PW and Admin employees must also change their benefit level. All qualified employees will be at the L-6 benefit level and will be required to contribute 4% of their salary if this transition occurs.
Below are the actuarial valuations provided by LAGERS for both the PD/FD coverage and the changes to the PW/Admin employees. A copy of each report can also be viewed at City Hall.
Police and Fire LAGERS Valuation (posted 10/16/2020)
Administration and Public Works Benefit Change LAGERS Valuation (posted 10/16/2020)
Police and Fire Legacy Plan Valuation (posted 11/11/2020)