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Home My WebLink About5268 RESOLUTION NO. 5268 A RESOLUTION OF 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 EMPLOYEE'S 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 of the change proposed in said contract; and WHEREAS, the following is a statement of the proposed change: To provide 2% @ 50 Full formula (from 2% @ 55 Full formula and 1/2 @ 55 Full formula) for 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 this contract between the said governing body and the Board of -1- 5268 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 Resolution. Passed, approved and adopted this17thday of December, 1985. ATTEST: ~~54~~ Clty Cl r 0 the Clty of Arcadla STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES)SS: CITY OF ARCADIA ) I, CHRISTINe VAN MAANEN, City Clerk of the City of Arcadia, hereby certify that the foregoing Resolution No. 5268 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 17th day of December , 1985, and that said Resolution was adopted by the following vote, to wit: AYES: Councilmen Gilb, Hannah, Young and Pellegrino NOES: None ABSENT: Councilman Lojeski ~{.~~~ Clty Clerk,o the City of Arcadla -2- 5268 AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE CITY COUNCIL OF THE PL~4 CITY OF ARCADIA S~DO The Board of Administration, pu':;(9! ~yees' Retirement System, hereinafter referred to as Board, and the governi~gl);odl.W.f. above public agency, herein- after referred to as Public Agency, having e'dfJI8I/J. A'2~0 a contract effective October 1, 1945, and witnessed September 24, 1945, ~~~ 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" 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 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). EXHIBIT "A" 4. 5. In addition to the classes of employees excluded from membership by said Retirement Law, the following classes of employees shall not become members oJD,said Retirement System: f~8tA~)/,N~L EXCLUSIONS 0, '.', The fraction of final compensa"i~~io be provided for each year of credited prior and current service ~Ys '~~T!l miscellaneous member shall be determined in accordance with S~~,...f.1251. 13 of said Retirement Law with all service prior to Fede~~ial Security termination March 1, 1977, subject to the reducticmprovided by said section (2~ at age 60 Full and Modified). 6. The fraction of final compensation to be provided for each year of credi 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 213BO - 213B7 (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) . B. 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.) 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, 2000 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 ,19_. day 0 f BOARD OF' ADMINISTRATION PUBLIC EMPLOYEES' RETIREMENT SYSTEM PLEASF DO NOr", .)feN ''[YLl p,yi181T ~ Pres ylr'Officer CITY COUNCIL OF THE CITY OF ARCADIA BY SIDNEY C. McCAUSLAND, EXECUTIVE OFFICER Witness Date Approved as to form: Attest: 4~~ 4--1-;1' Legal Office, il,!zLhJ Date! Clerk Date PERS-CON-702 (AMENDMENT) (Rev. 9/85)