File #: 14-6026    Version: 1 Name:
Type: Report Status: Agenda Ready
File created: 3/3/2026 In control: City Council
On agenda: 3/10/2026 Final action:
Title: Adoption of Ordinance No. 830 Authorizing an Amendment to the City's CalPERS Contract to Provide Up to Two (2) Years of Additional Service Credit ("Golden Handshake") and Adoption of an Urgency Ordinance Authorizing the Same Amendment
Attachments: 1. Staff Report - 2 year service credit, 2. Exhibit A - Ordinance No. 830 - 2 year service credit, 3. Exhibit B - Urgency Ordinance No.XX - 2 year service credit, 4. Exhibit C - CALPERS Amendment to Contract - 2 yr Service Credit

Title

Adoption of Ordinance No. 830 Authorizing an Amendment to the City’s CalPERS Contract to Provide Up to Two (2) Years of Additional Service Credit (“Golden Handshake”) and Adoption of an Urgency Ordinance Authorizing the Same Amendment

Recommendation

Staff recommends that the City Council take the following actions:

 

1.                     Adopt Ordinance No. 830, previously introduced on February 10, 2026, authorizing an amendment to the contract between the City Council of the City of Commerce and the Board of Administration of the California Public Employees’ Retirement System (CalPERS).

 

2.                     Adopt an Urgency Ordinance authorizing the same amendment to the CalPERS contract to allow the amendment to take effect immediately upon adoption.