HomeMy WebLinkAbout0256.093~l
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April 22, 1993
THE HONORABLE CITY COUNcrL
Palo Alto, California
VBI 01 THE 18 792 CREDIT
Members of the council:
16
With reqard to the Fine.nce C01Tll!littee reco:rnJn'=:1dation, staff is
planning an actuarial stud}' to determine the a-mount of city
unfurtdecl liability associat.ed with provision of medical renefits to
retired employees under our current agreement with the Public
Employees' Retirement System. We expect this study to be completed
later this summer. When the amount of the unfunded liability is
knoYn I staff will be in a position to develop a recommendation for
use of the AS 702 credit CiS proposed by the Finance Committee.
This recommendation may be for~arded to employee ~r9anizations for
comments and discussion before returning the reco~~endation to the
Yinance Committee~
submitted,
I n Resources
Related staff reports: CMR:154:93
CMR:256:9)