City Council

12.2 Consideration and Authorization to Prepay the Monthly Unfunded Accrued Liability\n(UAL) Portion of the CalPERS Retirement Costs Budgeted for Fiscal Year 2024-25.\nRECOMMENDATION OF BU SINESS ITEM UNDER CONSIDERATION:\nIt is recommended that the City Council:\n1. Consider and authorize the payment of the Unfunded Accrued Liability (UAL) portion of\nthe CalPERS retirement costs budgeted for Fiscal Year 2024-25 at a discounted rate;\nand\n2. Direct staff to pay the UAL portion of the budget retirement costs for Fiscal Year 2024-25\nto CalPERS in the total amount of $1,335,910.\nTotal Cost: N/A Account No: N/A\nIs the cost of this item budgeted? N/A