ITEM NO. 8
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CITY COUNCIL STAFF REPORT |
| TO: |
Honorable Mayor and Members of the City Council |
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| FROM: |
Arron Brown, City Manager |
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| BY: |
Kayla Malin, Administrative Services Senior Analyst |
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| DATE: |
10/15/2026 |
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| SUBJECT: | Second Reading and Adoption of Ordinance No. 283 - An Ordinance of the City Council of the City of Canyon Lake, California, Authorizing an Amendment to the Contract Between the City Council of the City of Canyon Lake and the Board of Administration of the California Public Employees' Retirement System
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Recommendation:
Conduct second reading and adopt Ordinance No. 283 - An Ordinance of the City Council of the City of Canyon Lake, California, Authorizing an Amendment to the Contract Between the City Council of the City of Canyon Lake and the Board of Administration of the California Public Employees' Retirement System.
Background/Analysis:
At the September 9, 2026, City Council meeting, the City Council adopted a Resolution of Intention to approve an amendment to the City’s contract with the California Public Employees’ Retirement System (CalPERS) and introduced for first reading an ordinance authorizing the amendment.
The amendment updates the City’s existing CalPERS contract and clarifies the retirement provisions applicable to the City’s local miscellaneous employees, including the applicable retirement ages and benefit formulas for classic and new members, and incorporates applicable statutory requirements and other provisions governing the City’s participation in CalPERS.
The ordinance is now presented for second reading and adoption. Adoption of the ordinance will authorize the amendment to the City’s existing CalPERS contract. The amendment does not establish a new retirement system or change the City’s existing retirement benefit formulas; rather, it updates the City’s contract to reflect the applicable retirement provisions and statutory requirements.
The amendment updates the City’s existing CalPERS contract and clarifies the retirement provisions applicable to the City’s local miscellaneous employees, including the applicable retirement ages and benefit formulas for classic and new members, and incorporates applicable statutory requirements and other provisions governing the City’s participation in CalPERS.
The ordinance is now presented for second reading and adoption. Adoption of the ordinance will authorize the amendment to the City’s existing CalPERS contract. The amendment does not establish a new retirement system or change the City’s existing retirement benefit formulas; rather, it updates the City’s contract to reflect the applicable retirement provisions and statutory requirements.
- Fiscal Impact Yes/No:
- No
Additional Fiscal Information:
The proposed amendment does not, by itself, establish a new retirement benefit or change the City's participation in CalPERS. The City will continue to be responsible for the employer contributions required under the CalPERS contract and applicable actuarial rates.
Any changes to required employer contributions resulting from actuarial valuations, changes in state law, or other adjustments determined by CalPERS will continue to be reflected in the City's annual budget and retirement contribution obligations.
Funding for the City's CalPERS retirement obligations is included in the City's adopted budget.
Any changes to required employer contributions resulting from actuarial valuations, changes in state law, or other adjustments determined by CalPERS will continue to be reflected in the City's annual budget and retirement contribution obligations.
Funding for the City's CalPERS retirement obligations is included in the City's adopted budget.