2021/05/25 City Council Resolution 2021-056 RESOLUTION NO. 2021-056
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROHNERT PARK
AUTHORIZING AND APPROVING THE INCREASE OF APPROPRIATIONS FOR
THE PAYMENT OF THE POST EMPLOYMENT RETIREMENT SYSTEM(CALPERS)
UNFUNDED ACCRUED LIABILITY
WHEREAS, the City of Rohnert Park participates in the California Post Employment
Retirement System (CaIPERS)through benefit packages for city employees; and
WHEREAS, the benefit packages offered through CaIPERS are subject to actuarial
changes reflected by the changes in benefit assumptions, methodologies or actual benefit package
offerings; and
WHEREAS, the City of Rohnert Park has already taken steps to address pension costs
including implementing pension reform by establishing other negotiated pension plans for all
new employees and bargaining with employees for them to pay the employee share of CaIPERS
pension costs; and
WHEREAS,the City of Rohnert Park is obligated by its values to develop and
implements strategies to address unfunded liabilities, including future retirement and retiree
health care costs and preservation of capital assets;
WHEREAS,the City of Rohnert Park has received notice from the Actuarial Office of
CaIPERS that the City's Unfunded Accrued Liability may be reduced or eliminated by making a
lump sum payment of$2,500,000;
NOW,THEREFORE,BE IT RESOLVED by the City Council of the City of Rohnert
Park that it does hereby authorize and approve the lump sum payment of$2,500,000 from the
Casino Supplemental Mitigation Fund to the General Fund and pay the City's CaIPERS
unfunded liability, and authorizes the Finance Director to increase appropriations in the Casino
Funds and the General Fund as necessary for such payment.
BE IT FURTHER RESOLVED that the City Manager is hereby authorized and directed
to execute documents pertaining to same for and on behalf of the City of Rohnert Park.
DULY AND REGULARLY ADOPTED this 25`h day 2021.
CITY RO N T PARK
er yor
ATTEST:
Sylvia Lopez ue City Clerk
ADAMS: LINARES: TAFFOR ELWARD: —�=—GIUDICE: L
AYES: ( �) ABS NT: ( QJ) ABSTAIN:
Resolution 2021-056
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