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DATE: January 22, 2018 <br /> <br />TO: Honorable Mayor and City Councilmembers <br /> <br />FROM: Dave Perrault, City Administrator <br /> <br />SUBJECT: City Administrator PERA Exclusion Approval <br /> <br />Budgeted Amount: Actual Amount: Funding Source: <br />N/A N/A N/A <br /> <br />Council Should Consider <br /> <br />The Council should consider approving the PERA exclusion for the City Administrator per the <br />signed employment agreement. <br /> <br /> <br />Background <br /> <br />Per the signed employment agreement between the City Administrator and the City of Arden <br />Hills, the City Administrator is choosing to opt out of the Public Employee Retirement <br />Association (PERA) Pension Plan and instead receive the Employer and Employee contributions <br />into an ICMA deferred compensation account. This is allowed under State statute, but requires <br />formal approval by the City Council. This has no budget impact on the City as the rates (7.50% <br />for Employer and 6.50% for Employee, future rates may change as State statutes change) are <br />identical to the PERA contributions. <br /> Attachment <br /> <br />Attachment A: PERA Exclusion Agreement <br />Attachment B: Resolution 2018-006 <br />CONSENT ITEM –5B <br /> <br /> MEMORANDUM <br />