SR-603-001 (10)
PE:EPP stfrpt.2005-2006.bancroft.pms Santa Monica, California
Council Meeting: October 11, 2005
TO: Mayor and City Council
FROM: City Staff
SUBJECT: Adoption of Resolution Amending the Executive Pay Plan
INTRODUCTION
This report requests that Council adopt the attached Resolution amending the
Executive Pay Plan.
BACKGROUND
The Executive Pay Plan is being amended to provide for a cost of living increase
of 4.0% for FY2005-2006; preclude the conversion of performance based
compensation to paid time off; and grant the City Manager, based on the
participant?s previous employment, the authority to waive or revise the
requirement that a participant complete at least five years of service with the City
of Santa Monica in order to be eligible to receive retiree medical insurance.
BUDGET/FINANCIAL IMPACT
The total cost of the amendment for FY2005-2006 is $160,392. Provision was
made in the FY2005-06 budget to accommodate this amendment and no
appropriation is necessary.
RECOMMENDATION
It is recommended that Council adopt the attached Resolution amending the
Executive Pay Plan.
Prepared by: Karen Bancroft, Director of Human Resources
ATTACHMENT: Resolution
See Adopted Resolution No. 10070 (CCS).
(LABOR\OTHER\EPP stfrpt.2005-2006.doc)