Santa Fe Springs Considers CalPERS Golden Handshake Incentive
City of Santa Fe SpringsCity · Santa Fe Springs, CA- Disclosed value
- Estimated increase in Unfunded Actuarial Liability of $11,775,549 for all 49 eligible employees; $7,135,385 for the Miscellaneous Plan and $4,640,164 for the Safety Fire Plan
- From agendapacket
- Document date
- Oct 22, 2026
- Renews
- Free account
The 30-second brief
Santa Fe Springs is considering a CalPERS Golden Handshake retirement incentive that would provide eligible employees with two additional years of service credit. The proposed program could increase the City’s unfunded actuarial liability by an estimated $11.8 million, with the City scheduled to hold a public hearing on November 5, 2026.
California Public Employees’ Retirement System (Calpers) holds this financial services contract with City of Santa Fe Springs. Its other public contracts on record include work for City of Pismo Beach and Municipal Water District of Orange County.
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Contract details
- Contract type
- Financial Services
- Amount
- Estimated increase in Unfunded Actuarial Liability of $11,775,549 for all 49 eligible employees; $7,135,385 for the Miscellaneous Plan and $4,640,164 for the Safety Fire Plan
- Document date
- October 22, 2026
- Term
- Proposed effective date January 1, 2027; 90-180 day designated offering period
- Renews
- On record
- Agency
- City of Santa Fe Springs
- Source document
- City of Santa Fe Springs AgendaPacket CalPERS Actuarial Cost Analysis Report 2026-10-22 (AgendaPacket)
California Public Employees’ Retirement System (Calpers)'s other public contracts
More City of Santa Fe Springs contracts
Questions about this contract
Who was awarded the financial services contract by City of Santa Fe Springs?
California Public Employees’ Retirement System (Calpers) was awarded this financial services contract by City of Santa Fe Springs, as recorded on October 22, 2026. The contract value is Estimated increase in Unfunded Actuarial Liability of $11,775,549 for all 49 eligible employees; $7,135,385 for the Miscellaneous Plan and $4,640,164 for the Safety Fire Plan.
How much is the California Public Employees’ Retirement System (Calpers) contract with City of Santa Fe Springs worth?
The California Public Employees’ Retirement System (Calpers) contract with City of Santa Fe Springs is valued at Estimated increase in Unfunded Actuarial Liability of $11,775,549 for all 49 eligible employees; $7,135,385 for the Miscellaneous Plan and $4,640,164 for the Safety Fire Plan, covering financial services work.
What type of contract is this?
This is a Financial Services contract, documented as a agendapacket record.
Where was this contract approved?
This contract appears in City of Santa Fe Springs AgendaPacket CalPERS Actuarial Cost Analysis Report 2026-10-22 (AgendaPacket), dated October 22, 2026 from City of Santa Fe Springs. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does California Public Employees’ Retirement System (Calpers) hold?
California Public Employees’ Retirement System (Calpers) may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is City of Santa Fe Springs currently buying?
Explore City of Santa Fe Springs's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.