Resolution No. 4738 - Laserfiche WebLink

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RESOLUTION NO. 4738 A RESOLUTION CONCERNING THE CITY OF EUGENE'S COMMITMENT TO RETIREMENT SYSTEM REFORM. The City Council of the City of Eugene finds as follows: A. The City of Eugene is a local government that provides police and fire protection, streets, sewers, recreation, parks, and other needed and essential services to the citizens of the City of Eugene within the corporate limits of the City. B. The City of Eugene carries on and provides these needed and essential services with a dedicated force of public employees whose retirement is covered by the Oregon Public Employees Retirement System (PERS). C. The PERS retirement system provides these retirement benefits under state statutes and Administrative Rules. The PERS Board has treated employee and employer contributions differently and unfairly, causing unfunded liability, risk, and inequity between City contributions and employee contributions. D. The City is a lead complainant in a law suit against the PERS Board to address some of these inequities. E. The City has experienced a $68 million dollar liability to PERS because of these inequities and other issues. The most current PERS estimates of the City and other government employers unfunded liability is continuing to climb causing financial hardship on the City and the taxpayer. F. The state statutes also mandate that retired public employees be carried on the City's group rate medical plan causing a large increase in City medical cost. G. The City of Eugene Budget Committee passed the following motion by a 14:2 vote on May 22,2002: To support any method the City deemed necessary, including but not limited to legislation, litigation, and interaction with the PERS board and staff to pursue solutions that would provide a benefit for the City employees that was comparable to pension benefits to other jurisdictions in the northwest and which is funded by stable, predictable, and sustainable sources of funding. Resolution - 1