City Council

12.3\nAccount No:\nN/A\nConsideration and Authorization to Prepay the Monthly Unfunded Accrued Liability\nPortion of the CalPERS Retirement Costs Budgeted for Fiscal Year 2025-2026.\nRECOMMENDATION OF BUSINESS ITEM UNDER CONSIDERATION:\nIt is recommended that the City Council:\n1. Consider and authorize the payment of the Unfunded Accrued Liability portion of the\nCalPERS retirement costs budgeted for Fiscal Year 2025-2026 at a discounted rate; and\n2. Direct staff to pay the UAL portion of the budgeted retirement costs for Fiscal Year 20252026 to CalPERS in the total amount of $4,564,729.\nTotal Cost: N/A\nIs the cost of this item budgeted? N/A\nAccount No:\nN/A