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City of San Jose
Meeting:
Joint City Council & Retirement Boards Study Session - Pension Obligation Financing
Meeting Time: September 30, 2021 at 1:16pm PDT
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Closed for Comment September 30, 2021 at 11:46am PDT
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Agenda Items
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How to observe the Meeting (no public comment):
1) Cable Channel 26, 2) https://www.sanjoseca.gov/news-stories/watch-a-meeting, or 3) https://www.youtube.com/CityofSanJoseCalifornia
How to submit written Public Comment before the City Council Meeting:
1) Use the eComment tab located on the City Council Agenda page. eComments are also directly sent to the ilegislate application used by City Council and staff. 2) By email to city.clerk@sanjoseca.gov by 10:00 a.m. the day of the meeting. Those emails will be attached to the Council Item under "Letters from the Public." Please identify the Agenda Item Number in the subject line of your email.
How to submit written Public Comment during the City Council Meeting:
1) Email during the meeting to councilmeeting@sanjoseca.gov, identifying the Agenda Item Number in the email subject line. Comments received will be included as a part of the meeting record but will not be read aloud during the meeting.
How to provide spoken Public Comment during the City Council Meeting:
1) By Phone: (888) 475 4499. Webinar ID is 930 5283 5954. Click *9 to raise a hand to speak. Click *6 to unmute when called. Alternative phone numbers are: US: +1 (213) 338-8477 or +1 (408) 638-0968 or (877) 853-5257 (Toll Free) 2) Online at: https://sanjoseca.zoom.us/j/93052835954 a. Use a current, up-to-date browser: Chrome 30+, Firefox 27+, Microsoft Edge 12+, Safari 7+. Certain functionality may be disabled in older browsers including Internet Explorer. Mute all other audio before speaking. Using multiple devices can cause an audio feedback. b. Enter an email address and name. The name will be visible online and will be used to notify you that it is your turn to speak. c. When the Mayor calls for the item on which you wish to speak, click on "raise hand." Speakers will be notified shortly before they are called to speak. d. When called, please limit your remarks to the time limit allotted.
• Purpose
The purpose of this joint study session is to present and discuss the respective roles and responsibilities of the City Council and Retirement Plan Boards in policy development as the City Council evaluates issuing Pension Obligation Bonds ("POBs") as an option to reduce the unfunded actuarial liabilities in the Plans. The Study Session is intended to provide preparatory work that will enable Council and the Retirement Plan Boards to make informed decisions about the policies they will formulate and adopt, should the City choose to issue POBs, and align all parties' understanding of their respective roles to improve the funded status of the Plans.
• Outcome
The City Council, Retirement Plan Boards, Administration, and stakeholders have a shared understanding of their respective roles and responsibilities if the City Council chooses to proceed with issuance of POBs, including development of a workplan for informing and understanding each other's approaches and intended policies before such bonds are issued.
• Call to Order and Roll Call
Study Session
1:30 p.m. - 4:30 p.m.
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