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RESOLUTION NO. 4529
A RESOLUTION OF INTENTION OF THE CITY COUNCIL
OF THE CITY OF ARCADIA TO APPROVE AN AMEND-
MENT TO CONTRACT BETWEEN THE BOARD OF ADMINIS-
TRATION OF THE PUBLIC EMPLOYEES' RETIREMENT
SYSTEM AND THE CITY OF ARCADIA
WHEREAS, the Public Employees' Retirement Law permits the
participation of public agencies and their employees in the Public
Employees' Retirement System by the execution of a contract, and
sets forth the procedure by which said public agencies may elect
to subject themselves and their employees to amendments to said
law; and
WHEREAS, one of the steps required in the procedure to
amend this contract is the adoption by the legislative body of the
public agency of a resolution giving notice of its intention to
approve an amendment to said contract, which resolution shall
contain a summary of the changes proposed in said contract; and
WHEREAS, the following is a summary of the proposed change:
PROVIDE FINAL COMPENSATION ON THE BASIS OF
ONE YEAR (INSTEAD OF THREE YEARS) .
NOW, THEREFORE, BE IT RESOLVED, that the CITY COUNCIL of the
CITY OF ARCADIA does hereby give notice of intention to approve an
amendment to contract between said CITY COUNCIL and the Board of
Administration of the Public Employees' Retirement System, a copy
of said amendment being attached hereto, marked Exhibit "A" and by
this reference made a part hereof.
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4529
The City Clerk shall certify to the adoption of the
resolution.
I HEREBY CERTIFY that the foregoing resolution \.as adopted
at a regular meeting of the City, Council of the City of Arcadia
lheld on the 7th
day of October
,1975, by the affirmative vote
of at least three Council members, to wit:
AYES: Councilmen Lauber, Helms, Saelid, and Scott
NOES: None
ABSENT: Councilman Gilb
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C~ty tier of t e C~ty of Arcad~a
SIGNED AND APPROVED this
7th day of October ,1975.
M2~d(fCc~
ProTempore
ATTEST:
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Ci ty Clerk '
(SEAL)
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4529
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"'IfJ' The Board of Administration. Public Employeee' RetireMent System. herein-
'after referred to ae Board. and the CITY COUNCIL of the CITY OF ARCADIA. herein-
after referred to as Public Agency 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: ' ,
ElCHlBIT A
AMENDMENT TO CONTRACT BETWEEN THE
BOARD OF ADMINISTRATION
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
AND THE
CITY COUNCn.
OF THE
CITY OF ARCADIA
A. The folloving paragraphe shall be added to said contract:
4(d)(5) Section 20024.2 (defining "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) .
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-
tione 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 accumulated contributions and contributions here-
after made shall be held by the Board as provided in Section
2JY759. Government Code.
B. Public Agency shall contribute to said Retirement System 'as followe:
,a. With respect to miscellaneous members, the agency shall contribute
the following percentages of monthly salaries earned ae miscellaneous
membere of said System:
(1) 0.06 percent until June 30. 2000 on account of the liability
for prior service benefits.
(2) 9.39 percent on account of the liability for current service
benefits. said percentage being fixed by Section 2JY7501 of the
Retirement I.S.w. '
(3) 0.01 percent on account of the liability for the 1959 Survivore
program.
Ret. Form 702-1
c
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b. ~With respect to local safety members. the agency shall 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 of the liability
for prior service benefits.
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(2) 16.305 percent on account of the liability for current service
benefits.
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(3) 0.258 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 day of .
.
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Witness our hands this
day of
.
BOARD OF ADMINISTRA.TION
PUBLIC EMPLOYEES I RETlREMENT SYSTEM
BY
Carl J. Blechinger. Executive Officer
CITY COUNCn..
OF THE
CITY OF ARCADIA.
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BY ;~ '... \. ".~~L~
Presiding,oiticer
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Approved as to fOrlll:
Lloyd C. Graybill, Administrative Adviser' ,
Clerk
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Ret. ,Forlll 702-2