FY 24-26 ADOPTED BUDGET

PERS (continued)

As a result of the 2013 labor negotiations and the Council adopted Management Resolution and Council - Appointed Officer contracts, all City employees share in the City ’ s retirement (CalPERS) contribution. Effective FY 2022 - 23, all City employees contribute 6.12% of the Employer ’ s CalPERS contribution except new members (PEPRA) of the Public Safety which still share any annual increases to the Employer ’ s CalPERS contribution or approximately 2%. The chart below shows the CalPERS ’ employer ’ s required contribution rates for normal cost and employee ’ s share of employer rates:

CalPERS Employer's Normal Cost Contribution Rates by Plan Type

30%

25%

6%

6%

6%

6%

6%

6%

6%

6%

20%

15%

2%

2%

1%

2%

2%

2%

2%

1%

21%

21%

21%

21%

21%

21%

21%

10%

6%

18%

6%

6%

6%

6%

6%

6%

6%

13%

12%

12%

12%

12%

12%

12%

12%

5%

6%

6%

5%

5%

5%

5%

5%

4%

0%

FY22-23

FY23-24

FY24-25

FY25-26

FY26-27

FY27-28

FY28-29

FY29-30

% Misc

% Misc Employee Share of Employer Rate % Safety Employee Share of Employer Rate % Safety PEPRA Employee Share of Employer Rate

% Safety

% SafetyPEPRA

SPECIAL ANALYSIS 329