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RESOLUTION NO, 5822
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ARCADIA, CALIFORNIA AMENDING A CONTRACT
BETWEEN THE BOARD OF ADMINISTRATION OF THE
PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE
CITY COUNCIL OF THE CITY OF ARCADIA -- 2% AT 55
FOR LOCAL MISCELLANEOUS MEMBERS
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 in the procedures to amend this contract is the
adoption by the governing 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 change proposed in said contract; and
WHEREAS, the following is a statement of the proposed change: To provide
2% at 55 Full and Modified formula for local miscellaneous members, including an
extension of the funding period to the year 2016,
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ARCADIA DOES
HEREBY FIND, DETERMINE AND RESOLVE AS FOLLOWS:
Section 1, That the governing body of the above agency does hereby give
notice of intention to approve an amendment to the contract between said public
agency and the Board of Administration of the Public Employees' Retirement System,
a copy of said amendment being attached hereto, as "Exhibit A" and by this reference
made a part hereof,
Section 2, Passed, approved and adopted this 4th day of October , 1994,
ATTEST:
ia
APPROVED f:.S TO_FORM:
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City Attorney
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Mayor 0 the ty cadia
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) SS:
CITY OF ARCADIA )
I, JUNE D. ALFORD, city Clerk of the city of Arcadia, hereby
certify that the foregoing Resolution No. 5822 was passed and
adopted by the City Council of the City of Arcadia, signed by the
Mayor and attested to by the city Clerk at a regular meeting of
said Council held on the 4th day of October, 1994 and that said
Resolution was adopted by the following vote, to wit:
AYES: Councilmember Chang, Kuhn, Lojeski, Margett and Young
NOES: None
ABSENT: None