Details Meeting Name: City Council Agenda status: Final Meeting date/time: 9/30/2021 1:30 PM Minutes status: Draft   Meeting location: Virtual Meeting - https://sanjoseca.zoom.us/j/93052835954 Study Session - City Council, Boards of the Federated City Employees’ Retirement System and Police & Fire Department Retirement Plan Joint Meeting - Pension Obligation Financing : Respective Roles and Responsibilities for Policy Development Published agenda: Agenda Published minutes: Not available   Meeting video: Video eComment: Not available   Attachments: Meeting Items (26) 26 records Group Clear sorting Clear grouping Group by Type Group by Result Export Export to Excel Export to PDF Export to Word Show: All agenda items Legislation only All agenda items File # Ver. Agenda # Agenda Note Type Title Action Result Action Details Video           How to observe the Meeting (no public comment):     Not available Not available           1) Cable Channel 26, 2) https://www.sanjoseca.gov/news-stories/watch-a-meeting, or 3) https://www.youtube.com/CityofSanJoseCalifornia     Not available Not available           How to submit written Public Comment before the City Council Meeting:     Not available Not available           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.     Not available Not available           How to submit written Public Comment during the City Council Meeting:     Not available Not available           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.     Not available Not available           How to provide spoken Public Comment during the City Council Meeting:     Not available Not available           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.     Not available Not available     •     Purpose     Not available Not available           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.     Not available Not available     •     Outcome     Not available Not available           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.     Not available Not available     •     Call to Order and Roll Call     Not available Not available           Study Session     Not available Not available           1:30 p.m. - 4:30 p.m.     Not available Not available 21-2179 1 •   Study Session Joint Study Session: Pension Obligation Financing - Respective Roles and Responsibilities For Policy Development.     Not available Not available     Part I -     City Manager’s Introductions and Opening Comments     Not available Not available     Part II -     Framing the Study Session: How we got here and where we need to go     Not available Not available     Part III - Why is the City considering issuing POBs?   Roles and Responsibilities of the City     Not available Not available     Part IV -     Roles and Responsibilities of the Retirement Boards     Not available Not available     Part V - Analysis of Actuarial Impacts   The Retirement Boards’ Consultants (Cheiron, Boards’ Actuary)     Not available Not available     Part VI - Analysis of Potential San José POBs   The City’s Consultants (Urban Futures Inc., Municipal Advisors)     Not available Not available     Part VII -     Public Comment     Not available Not available     Part VIII -     Council and Board Member Dialogue (Questions and Comments)     Not available Not available     Part IX -     Wrap-up and Next Steps     Not available Not available     •     Adjournment     Not available Not available