pages: PensionBoard/2011-07-25.pdf, 2
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PensionBoard | 2011-07-25 | 2 | City of Alameda Minutes of the Regular Meeting of the Pension Board - Monday, July 25, 2011 Page 2 6. ORAL COMMUNICATIONS, NON-AGENDA (PUBLIC COMMENT) There were no oral communications. 7. PENSION BOARD COMMUNICATIONS (COMMUNICATIONS FROM BOARD) Member Follrath asked if the Pension Board was going to be advised on the new Fire and Police pension plan changes. Member and Secretary to the Board Willis explained that safety employees under the new Memorandum of Understandings that were recently adopted will be contributing an additional 2% toward their PERS pensions which is technically a part of the employer's contribution to PERS. This means that safety employees will go from contributing 9% to 11% of their earnings to their pension. The changes made to the retiree health care benefit are that current safety employees must be employed with the City at least five years to be eligible and will be reimbursed at either the Kaiser or Blue Shield rates for up to the two party rate. Safety employees hired after June 7, 2011, must work at least ten years to be eligible and will be reimbursed at either the Kaiser or Blue Shield rate at the single party rate only. Member and Secretary to the Board Willis went on to explain that these are structural changes that needed to be made in order for these benefits to be sustainable in the future. She pointed out that these changes do not in any way impact current retirees and do not impact either the 1079 or 1082 pension plans. 8. ADJOURNMENT: There being no further business to come before the board, the meeting was adjourned at 4:50 p.m. Respectfully submitted Karen Willis, Human Resources Director and Secretary to the Pension Board | PensionBoard/2011-07-25.pdf |