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Home My WebLink About5444 RESOLUTION NO. 5444 A RESOLUTION OF THE INTENTION OF THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA, TO APPROVE AN AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA 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 procedure 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 6f the change proposed in said contract; and WHEREAS, the following is a statement of the proposed change: To provide Section 21382.4 (Third Level of 1959 Survivor Benefits) for local miscellaneous members and local safety members. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA, DOES HEREBY 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 the said governing body and the Board of Administration of the Public Employees' Retirement System, a copy of said amendment being attached hereto, as an "Exhibit" and by this reference made a part hereof. SECTION 2. The City Clerk shall certify to the adoption of this , -1- 5444 .' Resolution. Passed, approved and adopted this 6th day of September, 1988. /E~ Mayor of the City of Arcadia ~ ... ~ " ATTEST: rcadia C' STATE OF CALIFORNIA COUNTY OF LOS ANGELES CITY OF ARCADIA ) ) SS: ) I, JUNE D. ALFORD, City Clerk of the City of Arcadia, hereby certify that the foregoing Resolution No. 5444 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 6th day of September, 1988 and that said Resolution was adopted by the following vote, to wit: AYES: Councilmember Chandler, Lojeski and Harbicht NOES: None ABSENT: Councilmember Gilb and Young -2- 5444 " -- ,- * * * co p y * * * ,..:\ ~\) X, \)0 ~.~s {I o~\. ,,~t':\\\O\\ \ - s\(~ PUBLIC AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION OF THE 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. hereinafter referred to as Public Agency, having entered into a contract effective October ~. 1945, and witnessed September 24. 1945, and as amended effective July 1, 1953. January 1, 1957. January 1, 1958. January i. 1959, January 19, 1964. February 28, 1965, October 1. 1972, June 24. 1973. January 4. 1976. April 10, 1977. March ii, 1979 and June 22, 1986. which provides for participation of Public Agency in said System, Board and Public Agency hereby agree as follows: A. Paragraphs 1 through 11 are hereby stricken from said contract as executed effective June 22, 1986. 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" shall 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 i. 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 contract- ing 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). EXHIBIT 5444 . * * * 'C 0 P Y ,* * * 4. In addition to the classes of employees excluded from membership by said ~etirement 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 ahd 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 31, 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 cred~ted prior and current service as 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 Benefits) including 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. PLEASE DO ~~OT S!Gi--l "EXHIBIT ONLY" 5444 , :< f:;? /'..:) ...... .~ '< fU 4:; ~0 ) ..";i- ,,'-::" ll. " - -_..~-. *,* * COP Y * * * 9. Public ~gency shall contribute to said Retirement System as follows: a. With respect to local miscellaneous members, the agency shall contribute 'the Eollowing percentages of salaries earned as members of said Retirement System: (1) 0.231 percent until June 30, 2000 on account of the liability for prior service benefits. (Subject to annual change. ) (2) 10.608 percent until June 30, 2000 on account of the liability Eor current service benefits. (Subject to annual change. ) _tb. ~' !(j to:.... (;:.) ~. , /;:/ With respect to local safety members, the agency shall contribute the following percentages of salaries earned as members of said Retirement System: (1) 22.485 percent until June 30, 2000 on account of the liability for current service benefits. (Subject to annual change.) c. Public ~gency shall contribute $3.00 per employee on account of the liability for the 1959 Survivor Program provided under Section 21382.4 of said Retirement Law. (Subject to annual change.) In addition, all assets and liabilities oE Public ~gency and its employees shall be pooled in a single account, based on term insurance rates, Eor beneEiciaries oE all local miscellaneous and local saEety members. d. ~ reasonable amount, as Eixed by the Board, payable in one in- stallment within 60 days of date oE contract to COver the costs oE administering said System as it aEEects the employees oE Public ~gency, not including the costs oE special valuations or oE the periodic investigation and valuations required by law. e. ~ reasonable amount, as Eixed by the Board, payable in one in- stallment as the occasions arise, to cover the costs oE special valuations on account oE employees oE Public ~gency, and costs oE the periodic investigation and valuations required by law. 10. Contributions required oE Public ~gency 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. 5444 -..-------.-- .. * * * COP Y * * * 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 ,19_ day of BOARD OF ADMINISTRATION , ' If PUBLIC EMPLOYEES' RETIREMENT,~~~~~~t , ",m\\c~," , ..,,1'01 -S \ G\4 't't:\1 ?\W\\~\~~t ' BY CITY COUNCIL OF THE CITY OF ARCADIA BY Presiding Officer ASSISTANT EXECUTIVE OFFICER ~ ' if 'fo ~N ~ "g:wgq: ONtY'i %.~~~l~P I "'v'" '. " Attest: Clerk PERS-CON-702 (AMENDMENT) (Rev. 6/88) 5444