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HomeMy WebLinkAbout5822 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: l!8djlr)fl City Attorney ~r~ 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