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Home My WebLink AboutCC Res 3685 1987-05-11 I I 'I "' . RESOUmoo ~ 3bRS- RESOLUTION OF INTENTION 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 SEAL BEACH 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 Section 20024.2 (One-Year Final Compensation) for local safety members. NOW, THEREFORE, BE IT RESOLVED that the governing body of the above agency does hereby give notice of intention to approve an amendment to the contract between the aaid governing body and the Board of Administration of the Public Employees' Retirement System, a copy of said amendment being attached hereto, as an nExhibitn and by this reference made a part hereof. BY /t'A~~45L ( ITLE C0302 STATE OF CALIFORNIA) COUNTY OF ORANGE ) SS CITY OF SEAL BEACH ) I, ~oann7 M. Yeo, City Clerk of the City of Seal Beach ~al~forn~a~ do hereby certify that the fore . resol~tion ~s an o:~g~nal copy.of Resolution Number ~~~~ on file in ~~: ~f~~c~o~:ci~eoi~~~eC17rk, passed, ap roved and adopted by thereof held on the /;rl~y dOf Seal Be c at a regular meeting - ay of , 1987. City Resolution Number 3{,9~ ~" ,,~-rJ..\~~ O~ 0' ~\G~ tJO~ .._~c:.~ 0\'1", ~w AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE CITY COUNCIL OF THE CITY OF SEAL BEACH I The Board of Administration, Public Employees' Retirement System, hereinafter referred to as Board, and the governing body of above public agency, herein- after referred to as Public Agency, having entered into a contract effective June 1, 1958, and witnessed April 28, 1958, and as amended effective August 1, 1968, July 1, 1972, May 16, 1973, October 12, 1977, July~, 1979, August 13, 1980 and September 17, 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 September 17, 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. nNormal retirement agen 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 June 1, 1958 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 ~he election of a contracting agency. I 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. Lifeguards (included as local safety members); d. Employees other than local safety members (herein referred to as local miscellaneous members). ~. In addition to the classes of employees excluded from membership by said Retirement Law, the following classes of employees shall not become members of said Retirement System: a. PERSON COMPENSATED ON AN HOURLY BASIS HIRED AUGUST 1, 1968 OR AFTER. I 5. The fraction of final compensation to be provided for each year of credited prior and current service as a local miscellaneous member shall be determined in accordance with Section 21251.13 of said Retirement Law subject to the reduction provided therein for Federal Social Security (21 at age 60 Modified and Full). 6. The fraction of final compensation to be provided for each year of credited prior and current service as a local safety member shall be determined in accordance with Section 21252.01 of said Retirement Law (21 at age 50 Full). Resolution Number ~~~ 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) excluding Section 21382.2 (Increased 1959 Survivor Benefits) and Section 21382.4 (Third Level of 1959 Survivor Benefits). b. Sections 21263, 21263.1 and 21263.3 (Post-Retirement Survivor Allowance). I c. Section 21222.1 (Special 51 Increase - 1970). Legislation repealed said Section effective January 1, 1980. d. Section 20024.2 (One-Year Final Comp~nsation). e. Section 20862.8 (Unused Sick Leave Credit) for local miscellaneous members. f. Section 20930.3 (Military Service Credit), as defined in Chapter 830, Statutes of 1976. g. Section 20019.3 (nLocal Safety Hembern shall include city lifeguards as described in Government Code Section 20019.3). 8. Public Agency, in accordance with Government Code Section 20740, ceased to be an RemployerR for purposes of Section 20759 effective on October 12, 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: I a. With respect to local miscellaneous members, the agency shall contribute the fOllowing percentages of salaries earned as members of said Retirement System: (1) 0.000 percent on account of the liability 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) 20.368 percent until June 30, 2011 on account of the liability for current service benefits. (Subject to annual change.) c. A reasonable amount, as fixed by the Board, payable in one in- stallment 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 special valuations or of the periodic investigation and valuations required by law. I d. A reasonable amount, as fixed by the Board, payable in one in- stallment as the occasions arise, to cover the costs of special valuations on account of employees of,Public Agency, and costs of the periodic investigation and valuations required by law. 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. . Resolution Number ~ 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_. BOARD OF ADMINISTRATION ~ PUBLIC EMPLOYEES' RETIREMEN~ ~ "#~ BY fJ.~ SANDRA~. () ASSIST CUTIVE OFFICER BEN~~~ ERVICES ~~S Q~ PERS-OON-702 (AMENDMENT) (Rev. 9/86) day of CITY COUNCIL OF THE CITY OF SEAL BEACH ~ ~ o BY ~ Presiding OffiC~ .I() ~ &.3 Witness Da~ Attest: ~ ~ ~~ I I I