Wes Woods II, Inland Valley Daily Bulletin
Created: 10/10/2011 03:49:36 PM PDT
CLAREMONT — The City Council is expected tonight to approve spending some money up front on retirement incentives to save money over the long haul.
The city wants to offer six of its employees two years of additional service credit in the Public Employees’ Retirement System. It would cost the city $294,000 over 20 years but would produce $440,000 in savings over the next five years, according to a staff report.
“I know that some people are going to judge this and unfortunately anything having to do with PERS is a hot-button issue,” Councilman Corey Calaycay said at a Sept. 27 council meeting on the item. “But the fact is this this ties in with an effort to reorganize some things in City Hall and is an opportunity that represents savings in the long run …”
Council members unanimously voted in favor of the item in September. At today’s 6:30 p.m. meeting, the council is expected to approve the implementation resolution and related material.
“We’re basically saying, and the policy is, if we’re going to do something like this let’s address the cost of PERS right up front, get it over with and then have the savings,” City Manager Jeff Parker said at the September meeting.
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