HomeMy WebLinkAboutCC Res 4526 1997-04-28
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RESOLUTION NUMBER -16-~
RESOLUTION OF INTENTION
TO APPROVE AN AMENDMENT TO CONTRACT
BETWEEN THE
BOARD OF ADMINISTRATION
OF THE
PUBLIC EMI)LOYEES' RETIREMENT SYSTEM
AND THE
CITY COUNCIL
OF THE
CITY OF SEAL BEACH
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WHEREAS, thc Public Employees' Rctirement Law pcrmits the participation of public agencies
alld thcir employccs in the Publie Employees' Rctircment System by the cxecution
of a contract, and scts forth the proccdure by which said public agencies may elect
to subjcct themsclvcs and their employees to amendmcnts to said Law; and
WHEREAS, onc of thc steps in the procedurcs to amend this contract is the adoption by the
govcming body of the public agency of a resolution giving notice of its intention to
approve an amcndmentto said contract, which resolution shall cOlltaill a sUlfUnary
ofthe change proposed in said contract; and
WHEREAS, the following is a statement of the proposcd changc:
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To provide Scetioll 21573 (Third Lcvel of 1959 Survivor
Dcncfits) for local miscellaneous membcrs and occan beach
lifeguards only.
NOW, THEREI'ORE, BE IT RE~OLVED that the govcrning body of the abovc agency does
hereby give notice of intention to approve an amendment to the contract bctwccn
said public agency and thc Board of Administration of the Public Employecs'
Retircment System, a copy of said amendment being attached hereto, as an
"Exhibit" and by this referencc made a part hereof.
ROVED and ADOPTED by the City council of the City of
at,a regular meeting thereof held on the c2&'!f: day of
, 1997 by the following vote:
AYES:
councilmembe
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NOES:
Councilmembers
ABSENT:
Councilmembers
~~;Z-'~h-
)li(a or
ATTEST:
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Resolution Number~~
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
CITY OF SEAL BEACH )
I, Joanne M. Yeo, City Clerk of the City of Seal Beach, California,
do hereby certify that t~r going Resolution is the original
copy of Resolution Number. on file in the office of the city
Clerk, passed, approved a d adopted by the City Council of the City
of Seal B~at ~egUlar meeting thereof held on the~ day
of 'A~' , 1997.
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AMENDMENT TO CONTRACT
BETWEEN THE
BOARD OF ADMINISTRATION
OF THE
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
AND THE
CITY COUNCIL
OF THE
CITY OF SEAL BEACH
~,
~r
The Board of Administration, Public Employees' Retirement System, hereinafter referrcd to as
Board, and the governing body of above public agency, hereinafter rcfcrred to as Public Agellcy,
having entered into a cOlltract effective JUlie 1, 1958, and witnessed April 28, 1958, and as
amended effective August I, 1968, July I, 1972, May 16, 1973, October 12, 1977, July 4,1979,
August 13,1980, September 17, 1986, July 22,1987, July 11, 1991, September 23,1994 and
December 15, 1995 which provides for participation of Public Agency in said System, Board and
Public Agency hereby agree as follows:
A. Paragraphs I through 12 are hereby stricken from said contract as executed effective
December 15, 1995, and hereby replaced by the following paragraphs numbered I
through 12 inclusive:
I. All words and terms used herein which are defined in the Public Employees'
Rctirement Law shall have the meaning as defined thcrein unless otherwisc
specifically provided. "Nornlal retirement age" shall mean age 55 for local
misccllaneous mcmbers and age 50 for local safety membcrs.
2.
Public Agcncy shall participate in the Public Employees' Retirement System from
and after June I, 1958 making its cmployees as hereinafter provided, members of
said System subject to all provisions of the Public Employees' Retirement Law
cxcept such as apply only on election of a contracting agency and are not provided
for herein and to all amendments to said Law .hcrcafter enacted except those,
which by express provisiollS thereof, apply only on the election of a contracting
agency.
3. Employecs of Public Agcncy in the following classes shall become members of
said Retirement System exccpt 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 Officcrs (hcrein referred to as local safety members);
Resolution
Number ~~t,
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c, Occan Beach Lifcguards (included as local safety members);
d, Employees other than local safety members (herein rcferred to as local
miscellancous members).
4.
III addition to the classes of employees excludcd from membership by said
Retircment Law, thc following classes of employecs shall not become members of
said Retirement Systcm:
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a. I'ERSONS COMPENSATED ON AN HOURLY BASIS IIIRED
AUGUST 1, 1968 OR AFTER,
5. Thc percentagc of final compensation to be provided for local miscellaneous
membcrs for each year of creditcd prior and CUITCnt service shall be determincd in
accordance with Section 21354 of said Retirement Law, subject to the reduction
provided thercin for service prior to Junc 30,1972, tennination of Social Security,
for members whose scrvice has bccn included in Federal Social Security (2% at
age 55 Full and Modified).
6. The perccntage of final compensation to be providcd for each year of credited
prior and current service as a local safety membcr shall be dctemlined in
accordance with Scction 21362 of said Retirement Law (2% at age 50 FuJI),
7. Public Agency elected and elects to bc subject to thc following optional
provisions:
a. Scction 21571 (Basic Level of 1959 Survivor Benefits) for local firc
mcmbers only.
b,
Sections 21624, 21626 and 21628 (Post-Retircment Survivor Allowance).
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c. Section 21222.1 (Special 5% Increase-l 970). Legislation repealed said
Section effective January I, 1980.
d. Scction 20042 (One- Y car Final Compensation).
e. Section 20965 (Credit for Unused Sick Leave) for local miscellancous
membcrs and local police mcmbers only.
f. Section 21024 (Military Service Crcdit as Public Servicc), Statutcs of
1976.
g. Scction 20421 ("Local Safety Mcmber" shall include occan beach
lifeguards of a city as described in Governrnent Code Section 20421).
h.
Section 21573 (Third Level of 1959 Survivor Benefits) for local
miscellaneous members, local policc membcrs and ocean beach lifeguards
only.
i.
Section 20903 (Two Y cars Additional Service Crcdit) for local
miscellancous members only.
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8. Public Agency, in accordance with Governrnent Codc Section 20790, ceased to be
an "employer" for purposes of Section 20834 effective on October 12, 1977.
Accumulated contributions of Public Agcncy shall be fixed and detcnnined as
provided in Govermnent Code Section 20834, and accumulated contributions
thereafter shall be held by the Board as providcd in Govenunent Code Section
20834.
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Resolution Number~
9. Public Agcncy shall contribute to said Retiremellt System the contributions
determined by actuarial valuations of prior and future service liability with rcspcct
to local miscellaneous members and local safety members of said Retirement
System,
10. Public Agency shall also contribute to said Retirement System as follows:
a.
Public Agency shall contribute $1.50 per membcr, per month on account
of the liability for thc 1959 Survivor Benefits provided under Section
21573 of said Retircmcnt Law. (Subject to annual change,) In addition,
all assets and liabilities of Public Agency and its employees shall be
pooled in a single account, based on tenn insurance rates, for survivors of
all local misccllaneous membcrs, local policc members and ocean beach
Iifcguards.
b. A reasonable amount, as fixed by the Board, payable in one installment
within 60 days of date of contract to cover the costs of administering said
System as it affects the employees of Public Agency, not including the
costs of spccial valuations or of the periodic investigation and valuations
rcquircd by law.
c. A reasonable amount, as fixed by tlle Board, payable in one installment as
the occasions arise, to cover the costs of spccial valuations on account of
employees of Public Agcncy, and costs of the periodic investigation and
valuations required by law.
11.
Contributions required of Public Agency and its cmployees shall be subject to
adjustment by Board on account of anlendments to the Public Employees'
Retircment Law, and on account of the experience under the Retirement System
as detennined by the periodic investigation and valuatioll rcquired by said
Retirement Law,
12. Contributions required of Public Agcncy and its employees shall be paid by
Public Agency to the Retirement System within fifteen 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
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BOARD OF ADMINISTRA TI~
PUBLIC EMPLOYEES' RETkRtMENT SYSTEM
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tw.;
day of
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CITY COUNCIL
OF TIlE
CITY OF SEAL BEACH
BY ;.:;' BY
KENNETH W. MARZI~N, CHIEF PRESIDING OFFICER
ACTUARIAL & EMPe~ER SERVICES DIVISION
PUBLIC EMPLOYEESI'RETIREMENT SYSTEM
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