Santa Fe Springs Advances CalPERS Golden Handshake Plan
City of Santa Fe SpringsCity · Santa Fe Springs, CA- Disclosed value
- Estimated total increase in retirement benefit costs of $11,775,549; $7,135,385 for the Miscellaneous Plan and $4,640,164 for the Safety Fire Plans
- From agendapacket
- Document date
- Oct 22, 2026
- Renews
- Free account
The 30-second brief
Santa Fe Springs is advancing a proposed CalPERS Golden Handshake retirement incentive based on actuarial reports from CalPERS. The program could increase retirement benefit costs by an estimated $11.8 million, with the program assumed to begin January 1, 2027, and related unfunded liability payments amortized over five years.
CALPERS holds this financial services contract with City of Santa Fe Springs. Its other public contracts on record include work for Ebbetts Pass Fire District and Montebello Unified School District Police Department.
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Contract details
- Contract type
- Financial Services
- Amount
- Estimated total increase in retirement benefit costs of $11,775,549; $7,135,385 for the Miscellaneous Plan and $4,640,164 for the Safety Fire Plans
- Document date
- October 22, 2026
- Term
- Assumed program effective date January 1, 2027; increased unfunded liability payments amortized over 5 years beginning July 1, 2029
- Renews
- On record
- Vendor
- CALPERS
- Agency
- City of Santa Fe Springs
- Source document
- City of Santa Fe Springs AgendaPacket Special Meeting of the City Council 2026-10-22 (AgendaPacket)
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?
CALPERS was awarded this financial services contract by City of Santa Fe Springs, as recorded on October 22, 2026. The contract value is Estimated total increase in retirement benefit costs of $11,775,549; $7,135,385 for the Miscellaneous Plan and $4,640,164 for the Safety Fire Plans.
How much is the CALPERS contract with City of Santa Fe Springs worth?
The CALPERS contract with City of Santa Fe Springs is valued at Estimated total increase in retirement benefit costs of $11,775,549; $7,135,385 for the Miscellaneous Plan and $4,640,164 for the Safety Fire Plans, 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 Special Meeting of the City Council 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 CALPERS hold?
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.
