HomeMy WebLinkAboutCC Resolution 11783 (Reform Public Pension Systems)RESOLUTION NO. 11783
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN RAFAEL SUPPORTING
REFORM OF THE PUBLIC PENSION SYSTEMS IN CALIFORNIA
WHEREAS, public pension systems for most California governmental entities have been experiencing a period
of great cost volatility; and
WHEREAS, the primary factor contributing to these volatile pension costs, which have risen sharply over a
short period of time, has been the recent and dramatic downturn in investment earnings from pension funds; and
WHEREAS, a secondary contributing factor to rising pension costs has been the adoption of new and higher
public employee pension benefits; and
WHEREAS, some state legislators and the Governor's office have put forward proposals to address rising
pension costs by eliminating defined benefit plans for pubic employees and only permitting the adoption of
defined contribution plans for public employees, similar to pension models found more commonly in the private
sector; and
WHEREAS, defined benefit plans have been the centerpiece for public pension systems in California, and have
been a key factor in recruiting and retaining quality public servants; and
WHEREAS, public pension benefits should be set with a sound actuarial foundation that achieves the goals of
providing a: 1) fair retirement benefits; 2) designed for a 30 -year career employee; 3) that maintains the
employee's standard of living in retirement; and
WHEREAS, some of the pension benefits adopted in recent years exceed the above stated pension goals.
NOW, THEREFORE, BE IT RESOLVED, that the City of San Rafael does support the retention of the
defined benefit retirement plan model as the central means to provide retirement benefits for public employees
in California; and
BE IT FURTHER RESOLVED, that the City of San Rafael supports the League of California Cities efforts to
continue discussions among legislative leadership, the Administration, public employee organizations, and
public employers to develop pension retirement benefit plans that meet actuarial -based goals of providing public
employees with fair retirement benefits for career employees that maintain their standard of living in retirement;
and
BE IT FURTHER RESOLVED, that the City of San Rafael supports public pension benefit levels that can be
rationally defended to the taxpayers of our local communities.
I, JEANNE M. LEONCINI, Clerk of the City of San Rafael, hereby certify that the foregoing resolution was
duly and regularly introduced and adopted at a regular meeting of the Council of said City held on Monday,
June 20, 2005 by the following vote, to wit:
AYES: COUNCIL MEMBERS
NOES: COUNCIL MEMBERS:
Cohen, Heller, Miller, Phillips and Mayor Boro
None
ABSENT: COUNCIL MEMBERS: None
P
"- - �i. sec ,-
NNE M. LEONC , City Clerk
RESOLUTION #11783
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN RAFAEL SUPPORTING
REFORM OF THE PUBLIC PENSION SYSTEMS IN CALIFORNIA
WHEREAS, public pension systems for most California governmental entities have been experiencing a period
of great cost\yolatility; and
WHEREAS, theprimary factor contributing to these volatile pension costs, which have risen sharply over a
short period of time, has been the recent and dramatic downturn in investment earnings from pension funds; and
WHEREAS, a secondary contributing factor to rising pension costs has been the adoption of new and higher
public employee pension,,benefits; and
WHEREAS, some state legrqlators and the Governor's office have put forward proposals to address rising
pension costs by eliminating defined benefit plans for pubic employees and only permitting the adoption of
defined contribution plans for p�blic employees, similar to pension models found more commonly in the private
sector; and
WHEREAS, defined benefit plans have been the centerpiece for public pension systems in California, and have
been a key factor in recruiting and retaining quality public servants; and
WHEREAS, public pension benefits should be set with a sound actuarial foundation that achieves the goals of
providing a: 1) fair retirement benefits; 2) designed for a 30 -year career employee; 3) that maintains the
employee's standard of living in retirement; and
WHEREAS, some of the pension benefits adopted in recent years exceed the above stated pension goals.
NOW, THEREFORE, BE IT RESOLVED, that the City of San Rafael does support the retention of the
defined benefit retirement plan model as the central means to provide retirement benefits for public employees
in California; and
BE IT FURTHER RESOLVED, that the City of San Rafael supports the League of California Cities efforts to
continue discussions among legislative leadership, the Administration, public employee organizations, and
public employers to develop pension retirement benefit plans that meet actuarial -based goals of providing public
employees with fair retirement benefits for career employees that maintain their standard of living in retirement;
and
BE IT FURTHER RESOLVED, that the City of San Rafael supports public pension benefit levels that can be
rationally defended to the taxpayers of our local communities.
I, JEANNE M. LEONCM, Clerk of the City of San Rafael, hereby certify that the foregoing resolution was
duly and regularly introduced and adopted at a regular meeting of the Council of said City held on Monday,
June 20, by the following vote, to wit:
L .2 0 os
AYES: COUNCIL MEMBERS: Cohen, Heller, M l l er, Phillips and Playor Boro
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: [lone
JE NNE M. LEON �