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Home My WebLink AboutCC Ord 900 1973-04-09 I I 1 ORDINANCE NUMBER qtJo AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SEAL BEACH, CALIFORNIA, AMENDING THE CODE OF THE CITY OF SEAL BEACH, AUTHORIZING AN AMENDMENT TO THE CONTRACT BETWEEN THE CITY COUNCIL AND THE BOARD OF ADMINISTRATION OF THE CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM. The City Council of the City of Seal Beach does ordain as follows: Section 1. That an amendment to the Contract between the City Council of the'City of Seal Beach and the Board of Administration, California Public Employees' Retirement System is hereby authorized, a copy of said amendment being attached hereto, marked "Exhibit A," and by such reference made a part hereof as though herein set out in full. Section 2. The Mayor of the City Council of the City of Seal Beach is hereby authorized, empowered and directed to execute said amendment for and on behalf of said Agency. Section 3. This Ordinance shall take effect thirty (30) days after the date of its adoption and prior to the expiration of thirty (30) days from the passage thereof shall be posted in accordance with the Code of the City of Seal Beach, Section 2-7.1, and thenceforth and thereafter the same shall be in full force and effect. NOES: Councilmen ~ ABSENT: Councilmen ~ MaYO~ / c,' ( ; , ,'" , .. .,., I I Ordinance Number , EXHIBIT A ..~~. <-- p . ....... ;,:tI' ~ ..,fJ ' . "4i '!-".:~ \: . ..>.. ~;' Tl':'..} '''''''' ," , "e:"::" r' ~..,,"" '. ",,'J ~ ..'...... Ai_ ~ ~. . , <l ',' ,~ The Board of Administration, Public Employees' Retirement System, hereintf';l-~er referred to as Board and the CITY COUNCIL of the CITY OF SEAL BEACH; hereinaft'1; , referred to as Public Agency having entered in,to a contract under date of April ~8, 1958, effective June 1, 195$, and as amended August 1, 1968 and July 1, 1972, and as provided by Chapter 170, Statutes of 1971 and Chapter ;316, Statutes of 1971, which provides for participation of Public Agency in said System, Board and Public Agency hereby agree as follO\~s: >>IENDHENT TO CONTRACT BETWEEN THE BOARD OF ADJ.iINISTRATION PUBLIC EMPLOYEES I REl'IREHENT SYSTEl.l AND THE CITY COUNCIL OF TIlE Crry OF SEAL BEACH A. Paragraphs 1 through 9 are hereby stricken from said contract as executed effective June 1, 1958, and are hereby replaced by the following paragraphs numbered 1 through 10 inclusive: 1. All words and terms used herein which are defined in the Public Employ- ees I Retirement Law shall have the meaning as defined therein unless otherwise specifically provided. "Normal retirement age" shall mean age 60 for miscellaneous members and age 55 for local safety members. 2. Public Agency shall participate in the Public Employees I Retirement System from and after June 1, 1958, n~ing its employees as herein- after provided, members of said system subject to all provisions of the Public Employees I 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 such as by expFess provision thereof apply only on the election of contracting agencies. 3. Employees of Public Agency in the following classes shall become mem- bers of said Ret,irement System except such in each such class as are excluded by law or this agreement: a. Local firemen (herein referred to as local safety members); b. Local policemen (herein referred to as local safety members); c. Employees other than local firemen and local policemen (herein referred to as miscellaneous members). The following employees shall be excluded from membership in said Retirement System: EXCLUDE PERSONS COl-lPENSATED ON AN HOURLY BASIS HIRED AUGUST 1, 1968, OR AFl'ER. Ret. Form 702-1 .' 1 I , , Ordinance Number ~.q. 4. ,The .f.raction of final compensation to be provided for, ~,c~'f-ar or credited prior and current service as a miscellaneous <Ii~bl!li::":.upon retirement at normal retirement age shall be 1/50 and l)\~lJ-""ba:'ap- plied as provided in Section 2l25JJ.13 of said Retirement o;;:t!air1~i'f.h service prior to the termination elf Social Securit~' covera~su15'".js(ct to the modification set forth in said section. <.I"'..,.? ". (/j' ."~ be provided for each Year~~~ a local safety member sha . -e;,p. 21252.6 of said Retirement ~...' ,!,': ff" 5. The fraction of fina.l compensation to credited prior and current service as determined in accordance ,lith Section 6. Contributions for miscellaneous and local safety members shall be subject to Sections 20603 and 20605 respectively of said Retirement Law. 7. The follOl'/ing additional provisions of the Public Employees I Retire:'" ment La1'/ which apply only upon election of a contracting agency shall apply to the Public Agency and its employees: Section 20952.5 (providing for age 50 as the minimum voluntary retirement age for local safety members h~th benefit ~~ents commencing prior to age 55 subject ~o actuarial discount). a. b. Section 213$0-7 (providing laneous and Safet~ members before retirement). for allowances for survivors of l:iscel- covered under the program upon death c. Section 21264 and Section 21264,1 (providing upon death of a local safety member and/or miscellaneous member Hho retired for service or disability for the continuation of one-half the retirement allowance to certain survivors). d. Section 21222.1 (providing for increases payable for time com- menc~ on the first day of the calendar r..onth coinciding "lith or next following the effective date of this amendment to or on account or persons retired or members deceased on or prior to December 31, 1970). $. Public Agency shall contribute to said Retirement System as follows: a. With respect to mi~ce11roleous members, the public agency shall contribute the follOl'/hlg percentages of monthly salaries earned 'as miscellaneous members of said System: (1) 0.$4 percent u..'1til June 30, 2000 on account of the liability for prior service benefits. I 9.43 percent on account oil the li"bility for current service benefits. I (2) (3) 1.00 percent on account of the liability for the 1959 Survivors program. '(1+) 0.26 percent, on account of the liability for the 5% increase in accordance 1'1ith Section 21222.1 of the Government Code until June 30, 197$. Ret, Form 702-2 ,. . I I , Or~~nance Number b. With resoeet to local safety members, the public agency.shall contribute the following percentages of monthly salOL-ieB earned as local safety Juombers of said System: (1) 14.967 percent on accounJ of the liability for current service benefits. I (2), 0.5 percent on account of the liability for the 1959 Survivors program. (3) 0.22 percent on aCC01.ll'lt of the liability for the 5% increase in accordance with Se<.:tion 2l222.1 of the Government Code until June 30, 1978. c. A reasonable amount per annum, as fixed by Board to cover the costs of administering said System as it affects the employees ' of Public Agency, not induding the costs of special valuations or the periodical investigation and valuation required by law. d. A reasonable amount as fixed by the Board, payable j,n one install- ment as the occasions arise, to cover costs of special valuations on account of employees of Public Agency, and costs of the period- ical investigation and valuation required by law. 9. Contributions required of Public Agency and its employees shall be sub- ject to adjustment by Board on account of amendments to the Public Ereployees' Retirement Law, and on account of experience under the Retirement System, as determined by the periodical investigation and valuation required by said Retirement Law. 10. Contributions required of Public Agency and its employees shall be paid by Public Agency to the Retirement System within thirty days after the end 01' t.he period to '1hich said contributions refer. If more or less than the correct wnount of contribution is paid for any period, proper adjustment shall be ~ade in connection with subsequ~,t remittances or adjustment on account of errors in contributions required of any employee ma;r be made by direct cash payments between the employee and Board. Payments by Public Agency to Board may be made in the form of warrants, baru{ checks, bank drafts, certified checks, money orders, or cash. B. This amendment shall be effective on the day of Witness our hands this BOARD OF AUHllnSTIlA'rIml PUBLIC EI'.PLOmES' RE'rIRENENT SYSTEH day of l CITY, COUNCil. OF THE ~l/j ":,C11 BY lJlri, " Presiding Officer-~ I BY \'iilliam E. Payne, Executive Officer Attest: Clerk Ret. Form 702-:3