HomeMy WebLinkAboutCC Res 3241 1983-01-24
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RESOLUTION NO. ~~I
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SEAL BEACH REQUESTING THE PUBLIC EMPLOYEES
RETIREMENT SYSTEM TO EXTEND THE FUNDING PERIOD
FOR CURRENT SERVICE AND DEATH BENEFITS ACTUARIAL
LIABILITIES FOR THE CITY OF SEAL BEACH
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WHEREAS, the City of Seal Beach is a contracting agency of the
Public Employees' Retirement System; and
WHEREAS, the City of Seal Beach has suffered significant reduction
in revenue since the passage of Proposition 13 which has
resulted in reductions in service to the citizens of Seal
Beach; and
WHEREAS, the City of Seal Beach has been advised by the Actuarial
Office of the Public Employees' Retirement System that the
City of Seal Beach may request the extension of its funding
period for current service and death benefits actuarial
liabilities to June 30, 2011, under the terms of the contract
with the Public Employees' Retirement System.
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NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of
Seal Beach does hereby request the extension of the funding period for
the current service and death benefits actuarial liabilities to June
30, 2011, under said agreement and further resolves to direct the City
Council to forward two certified copies of this resolution to the Public
Employees' Retirement System.
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~~D' APPROVED AND ADOPTED by the City Council of the Ci~ of Seal
Beac~, California, at a meett g thereof held on the ~~~~ da~ of
~ ,1983, by, e following vote: ;J
, ' ) 'Ii;
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ICfES: Co cilmember{s) /
, /,
NOES:
Councilmember{s)
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ABSENT: Councilmember{s)
ATTEST:
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