HomeMy WebLinkAbout1547
"
.
ORDINANCE NO. l547
AN ORDINANCE OF THE CITY COUNCIL
OF THE CITY OF ARCADIA AUTHORIZING
AN AMENDMENT TO THE CONTRACT
BETWEEN THE CITY COUNCIL OF THE
CITY OF ARCADIA AND THE BOARD OF
ADMINISTRATION OF THE CALIFORNIA
PUBLIC EMPLOYEES' RETIREMENT SYSTEM.
THE CITY COUNCIL OF THE CITY OF ARCADIA DOES ORDAIN AS
FOLLOWS:
SECTION 1. That an amendment to the Contract between the
City Council of the City of Arcadia and the Board of Administration,
California Public Employees' Retirement System is hereby authorized,
a copy of said amendment being attached hereto, marked "Exhibit A",
and by such reference made a part hereof as though herein set out
in full.
SECTION 2. The Mayor of the City Council is hereby autho-
rized, empowered, and directed to execute said amendment for and
on behalf of said Agency.
SECTION 3. This Ordinance shall take effect thirty-one (31)
days after the date of its adoption, and prior to the expiration of
fifteen (l5) days from the passage thereof shall be published at
least once in the Arcadia Tribune, a newspaper of general circulation,
published and circulated in the City of Arcadia and thenceforth
and thereafter the same shall be in full force and effect.
-l-
l547
I HEREBY CERTIFY that the foregoing ordinance was adopted
on the
18th
, 1975, by
day of
November
the affirmative vote of at least three Council members, to wit:
AYES:
NOES:
Councilmen Helms, Lauber, Saelid, Scott and Gilb
None
ABSENT: None
~~~~
C1ty Clerk of the City of Arcad1a
SIGNED AND APPROVED this
November
~E:T~
c~rk
(SEAL)
18th
day of
, 1975.
~
'~~
-2-
1547
'--"'"
t;XHIBIT A
AMENDMENT TO CONTRA.CT BE'lWEEN THE,
llOAIlD OF ADMINISTRATION
PUBLIC EMPLOYEES' RETIREMElfT SYSTEM
AND THE
CITY COUNCIL
OF THE
CITY OF ARCADU '
The Board of Adad.n1stration, Public Employees' Retirement System, herein-
after referred to as Board, and the CITY COUNCIL of the CITY OF ARCADU, herein-
after referred to as Public Agenci,having entered into a contract under date of
September 24, 1945, effective October 1, 1945, and as amended effective July 1,
1953, January 1, 1957, January 1, 1958, January 19, 1964, February 28, 1965,
October 1, 1972, and June 24, 1973, and as provided by Chapters 170 and 316,
Statutes of 1971, which provide for participation of Public Agency in said System,
Board and Public Agency hereby agree as follows:
A. The following paragraphs shall be added to said contract:
4(d)(5) Section 20024.2 (defining II final compensation" on the basis of
average compensation earnable during the year immediately pre-
ceding retirement or any other one year period elected by the
member) effective January 4, 1976 for safety members and June 20,
1976 for miscellaneous' members.
4.5 Public Agency, in accordance with Section 20740, Government Code,
shall cease to be an "employer" for purposes of Chapter 6 of the
'Public Employees' Retirement Law effective as of the effective
date of this amendment to this contract. Accumulated contribu-
tions of the Public Agency as of the date of such amendment shall
be fixed and'determined as provided in Section 20759, Government
Code and such accUllllllated contributions and contributions here-
after made shall be held by the Board as provided in Section
20759, Government Code.
ll. ,Public Agency shall contribute to said Retirement System as follows:
a. With respect to miscellaneous members, the agency shall contribute
the following percentages of monthly salaries earned as miscellaneous
members of said System:
(1) 0.06 percent until June 30, 2000 on account of the liability
for prior service benefits commencing June 20, 1976.
(2) 9.39 percent on account of the liability for current service
benefi ts commencing June 20, 1976.
(3) 0.01 ,percent on account of the liability for the 1959 Survivors
program cODlDlencing June 20, 1976. '
b. With respect to local safety members, the agency ahall contribute the
following percentages of monthly salaries earned as local safety mem-
bers of said System:
(1) 1.672 percent until June 30. 1977 on account o.f the liability
for prior service benefits.
(2) 16.305 percent on account of the liability for current service
bEmefi ts.
(3)' o.258,percent on account of the liability for the 1959 Survivors
program.
C. This amendment shall be attached to said contract and shall become effec-
tive on the Fourth day of January 1976
Witness our hands this
day of
BOARD OF ADMINISTRATION
PUBLIC EMPLOYEES I RETIREMENT SYSTEM
cm, COUNCIL
OF THE
CITY OF ARCADIA
BY
Carl J. Blechinger. Executive Officer
BY
Presiding Officer
Approved as to form:
Attest:
Lloyd C. Graybill, Administrative Adviser
Clerk
Ret. Form 702-2