HomeMy WebLinkAboutAmendment to PERS Contract - 1986 Tci
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AMENDMENT TO CONTRACT
BETWEEN THE
BCARD OF ADMINISTRATION
OF THE
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
AND THE
CITY COUNCIL
OF THE
CITY OF ARCADIA
The Board of Administration, Public Employees' Retirement System, hereinafter
referred to as Board, and the governing body of above public agency, herein-
after referred to as Public Agency, having entered into a contract effective
October 1, 1945, and witnessed September 24, 1945, and as amended effective
July 1, 1953, January 1, 1957, January 1, 1958, January 1, 1959, January 19,
1964, February 28, 1965, October 1, 1972, June 24, 1973, January 4, 1976,
April 10, 1977 and March 11, 1979, which provides for participation of Public
Agency in said System, Board and Public Agency hereby agree as follows:
A. Paragraphs 1 through 10 are hereby stricken from said contract as executed
effective March 11, 1979, and hereby replaced by the following paragraphs
numbered 1 through 11 inclusive:
1. All words and terms used herein which are defined in the Public
Employees' Retirement Law shall have the meaning as defined therein
unless otherwise specifically provided. "Normal retirement age"
shell mean age 60 for local miscellaneous members and age 50 for local
safety members.
2. Public Agency shall participate in the Public Employees' Retirement
System from and after October 1, 1945 making its employees as
hereinafter provided, members of said System subject to all provisions
of the Public Employees' Retirement Law except such as apply only on
election of a contracting agency and are not provided for herein and
to all amendments to said Law hereafter enacted except those, which by
express provisions thereof, apply only on the election of a
contracting agency.
3. Employees of Public Agency in the following classes shall become
members of said Retirement System except such in each such class as
are excluded by law or this agreement:
a. Local Fire Fighters (herein referred to as local safety members);
b. Local Police Officers (herein referred to as local safety
members);
c. Employees other than local safety members (herein referred to as
local miscellaneous members).
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4. In addition to the classes of employees excluded from membership by
said Retirement Law, the following classes of employees shall not
become members of said Retirement System:
NO ADDITIONAL EXCLUSIONS
5. The fraction of final compensation to be provided for each year of
credited prior and current service as a local miscellaneous member
shall be determined in accordance with Section 21251. 13 of said
Retirement Law with all service prior to Federal Social Security
termination March 1, 1977, subject to the reduction provided by said
section (2% at age 60 Full and Modified).
6. The fraction of final compensation to be provided for each year of
credited prior and current service ns a local safety member shall be
determined in accordance with Section 21252.01 of said Retirement Law
(2% at age 50 Full).
7. The following additional provisions of the Public Employees'
Retirement Law, which apply only upon election of a contracting
agency, shall apply to the Public Agency and its employees:
a. Sections 21380 — 21387 (1959 Survivor Program) excluding Section
21382.2 (Increased 1959 Survivor Benefits) and Section 21382.4
(Third Level of 1959 Survivor Benefits).
b. Section 20024.2 (One—Year Final Compensation).
c. Section 20862.8 (Unused Sick Leave Credit).
d. Sections 21263, 21263. 1 and 21263.3 (Post—Retirement Survivor
Allowance).
8. Public Agency, in accordance with Government Code Section 20740,
ceased to be an "employer" for purposes of Section 20759 effective on
April 10, 1977. Accumulated contributions of Public Agency shall be
fixed and determined as provided in Government Code Section 20759, and
accumulated contributions thereafter shall be held by the Board as
provided in Government Code Section 20759.
9. Public Agency shall contribute to said Retirement System as follows:
a. With respect to local miscellaneous members, the agency shall
contribute the following percentages of salaries earned as
members of said Retirement System:
(1 ) 0. 138 percent until June 30, 2000 on account of the
liability for prior service benefits. (Subject to annual
change.)
(2) 20.067 percent until June 30, 2000 on account of the
liablity for current service benefits. (Subject to annual
change.)
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b. With respect to local safety members, the agency shall contribute
the following percentages of salaries earned as members of said
Retirement System:
(1 ) 33.253 percent until June 30, 2C00 on account of the
liability for current service benefits. (Subject to annual
change.)
(2) 0.061 percent until June 30, 2000 on account of the
liability for the 1959 Survivor Program. (Subject to annual
change.)
10. Contributions required of Public Agency and its employees shall be
subject to adjustment by Board on account of amendments to the Public
Employees' Retirement Law, and on account of the experience under the
Retirement System as determined by the periodic investigation and
valuation required by said Retirement Law.
11. Contributions required of Public Agency and its employees shall be
paid by Public Agency to the Retirement System within thirty days
after the end of the period to which said contributions refer or as
may be prescribed by Board regulation. If more or less than the
correct amount of contributions is paid for any period, proper
adjustment shall be made in connection with subsequent remittances.
Adjustments on account of errors in contributions required of any
employee may be made by direct payments between the employee and the
Board.
B. This amendment shall be effective on the 22nd day of
June , 19 86 •
BOARD OF ADMINISTRATION CITY COUNCIL
PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF THE
CITY OF ARCADIA
BY ,�/
BY �[/C (C.)IC ' acelc,Thi4e/iV0
.> C. MCCAUSLAND, P siding Officer
�e+ EXECUTIVE OFFICER
March 5. 1 q 15
Witness Date
Approved as to form: Attest:
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(L. 7-7 //,/1 //)- .0/fCCePr44(1(,
Legal Office, Date Clerk Date
APPROVED � T F' RM: �
PERS-CON-.702 (AMENDMENT) cG� M
(Rev. 9/85) By V/I