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HomeMy WebLinkAbout3624 t/~ /LA/ - - - - / RESOLUTION NO. 3624 t7 RESOLUTION OF INTENTION TO APPROVE AN AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION OF THE STATE EMPLOYEES I RETIREMENT SYSTD-l AND THE CITY COUNCIL OF THE CITY OF ARCADIA WHEREAS, the State Employees I Retirement Law permits the participation of public agencies and their employees in the State 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 step in said procedure is the adoption by the legislative body of the public agency of a resolution giving notice of its intention to approve an &nendment 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: 1. A monthly allowance shall be paid to certain survivors of a member who dies before retirement. NOW, THEREFORE, BE IT RESOLVED, that the CITY COUNCIL of the CITY OF ARCADIA gives, and it does hereby give notice of intention to approve an amendment to contract between said CITY COUNCIL and the Board of Administration of the State Employees' Retirement System, a copy of said amendment being attached hereto, marked Exhibits "A and Bn and by this reference made a part hereof. CITY COUNCIL OF 'IRE CITY OF ARCADIA ~&&J~" BY Elton D. Phillips (Name) MJ.I.tOR CITY OF ARCADIA (Title) November 5, 1963 Date adopted and approved Ret. Forn 122 CERTIFICATION OF GOVERNING BODY'S ACTION I hereby certify that the foregoing is copy of a Resolution adopted by the , ~O-~ Nam of Public P~ency 19 c,?; , axing at Page , . Volume ff- Of. th.e (Hinu. tes) (Official Records) of the ~ ~ . (i",""",ng Body) a true and correct ~~ of the Governing Body _ on~D ~~ 9CM> MtL4?~ CITY CLERK or Secretary of the Board ,/ Ret. Form 949 (Rev. 9/57) 75 :...: :..:: -,,3_J'1 10 ~(!..'J.';it,t'i' lL'i\;i~:11; 'rir.:; d1\2iJ IJ': ,',J...l:JW1;;:t:'WICJ, ZT.t"/iJ ~~"A.UX"w::;)' n.....1~:. ilG.;i l3~~J;::l ~1)I:i:j GiU CC'<![;;::lL C'J ';;'it: Cln C):, llr..1llDiA ';;'he 80l!rd of lldmj.u1strr.t.1on, 1::ta~ CBP.~' ~et1reIl1ent CylJtflll, hcre:l.na!ter referred to M [}Of.r\l. end thG City C"un~~ .: fJ! Arcadia, hll1'tllna2tw rete1't'ed to 11& Pub\lo Agency. hI1.ViO[: entel'8!1 ' ,.~ 9fJtTallt unaer date of [)a~teabeJ' 2b, 1916, etf.cctive O<>tobur 1, 1 LS, alld iUl llm.e:l'dil\t'9.1fec ,JULY 1, 195J. Jal1UU7 1, 19$7, January 1, 19;0 and JO!luary 1. '1<;.59, ~hioh ll1"O"f ',' articlpat.1on ~ l'ubl1o .\cancy 1,1 suld (ystGm, J::OD.N .nd :>ublic Aeell~, 9Tt:: followru 1. '.full lollcv.l.DJ parcO'~~ sl1all be added to ?ar~;n?b ~ ($)(c)(()) iirt1clll 6, Chapter 9, 39otion~ n3Ja-7 (i'l'Ovlulog for tilllovllr,cos for aurv1V01'D of Group A Ilnd 3llf'ety IileIllbcre upon tlcath liotorc rctirec:ent). ~. Par~3)t'l 7(11) sh.i.t co &lllCllJad to reath 1.117 percent oi: toto}. v.:llarlcll paid monthly, to me::Jb"t'8 uot11. i.>e)t.e:We:r >0, 191; on account of the Ucbl11ty for ,rior 1I1li'V1ce l)encf1te. 3. C'nrocFllpll 7(b) BhnU bo ~eru;ad to l'el1l2 6.4.lU P:?J'Cunt. U. :>al'n&lJ.ph 7(e) 81:.$11 btl adtiea tc oaid contract aml et;all read. a:t folloli&t CS.OO per I'IOD'~ fot' eac:b ervlolCC COV1:'t'CQ un::Ol" the j,)revioionll of Qovcrmr.ont GCl~e, Gcotions:l13.j().7 (G.::ir;l CurviVOl'8). S. 'iih1ll a"::Dn~"".en1~ shall be attaelled to sa1d contrcot anti &."11 bfl.eO:'!e effective on tte 5th _ <.sy of l1anuary. 1964_. t:Un083 au!' !lauds this tiny of . D~.'\u,) G ,1i::1.l.11 ,'WI,7ZClI !~Tl\T::~ -~'{;~~y~' ;')1 ltG7L~,,-~~~:IJ:r lJl.';tt'.2-1 C1.~'i Gr.U[~Zt c:.' ';IE CI'lY G,.? .L\;.l.:.:ffi !N t:l.1l1a:n --'. Payne, ...3ccut1vu orEcer DE L're3101118 QificllJ' At.teet. " \..lerk i1ot. Fom 702 Benefits to Employees Under SERS SURVIVOR BENEFITS (Benefits provided by Sections 21380-21386 of the Retirement Law) BENEFITS Survivors of members who elect coverage under the SERS survivor program and whose death occurs before retirement will receive a monthly life income as follows: Widow and two or more dependent children or Three or more dependent children, alone $250 Widow and one dependent child or Two dependent children, alone $180 Widow, alone, age 62 (widower age 65) or One dependent child, alone $ 90 If there is no widow or dependent child, then to each dependent parent (mother 62, father 65) $90 Condi tions: 1. A dependent child is one under the age of 18 and unmarried, or a disabled child of any age who has been continuously disabled since age 18. 2. A widow ceases to be eligible for a benefit upon her remarriage. 3. A widower will be eligible for a benefit the same as a widow provided he was dependent upon the deceased member for at least one-half of his support. 4. The basic death benefit currently included in your retirement program pro- vides that should a member die prior to his retirement, his beneficiary would be paid the member's accumulated contributions plus an additional amount equal to one-month's salary for each year of service, up to a maximum of six months. The above survivor benefits will be payable in addition to any basic death benefit the survivor may be entitled to receive. 5. If a member is covered under both the SERS survivor benefit described abov~ and the survivor benefits as provided in Section 21365.5 of the Retiremen. Law (Section 21337 for safety members), the survivor would receive the greater of the two allowances, but not both. Ret. Form 1171-1 (1/60) 300 6. The special death benefit provided the widow of a safety member whose death is "in line of duty" is a monthly allowance equal to one-half of the member's "final compensation." If the widow is also eligible for a benefit under the survivor program herein described, she will not receive both benefits, rather she will receive the larger of the two. COST TO THE EMPLOYEE Each employee will contribute $2.00 a month in addition to his normal retire- ment contributions. He will continue to pay this additional amount until either termination of emplo~nent or retirement and under no circumstances will they be refundable. EFFECTIVE DATE These survivor benefits will become effective on January 5, 1964 (date). All present members of the System will be given the opportunity by written ballot to select this survivor coverage. Persons who choose coverage will remain covered until they terminate their employment or retire. IT IS Nor NOW PROVIDED that persons, who do not choose coverage will be allowed to choose coverage at a later date. For agencies not covered under OASDI all future employees would be mandatorily covered under this program. For agencies who are covered under OASDI all future employees are mandatorily covered under OASDI and, therefore, are not eligible for the SERS survivor benefits. EXAMPLE Under the SERS survivor program, if a member passes away before retirement leaving a widow and four children, the widow would receive a monthly income of $250 until such time as the three oldest children have passed age 18 (so that she now only has one child under the age of 18) at which time her benefit would be reduced to $180. The $180 would continue to be paid until the last child passes the age of 18 at which time the payment would cease until the widow reaches the age of 62. She would then receive $90 a month for the remainder of her lifetime. The widow ceases to be eligible for her benefit when she remarries although benefits would continue to any remaining children under the age of 18. Ret. Form 1171-2 (1/60) 300