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Home My WebLink AboutCC AG PKT 2003-10-13 #J ! go ORDINANCE NUMBER AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SEAL BEACH, CALIFORNIA, AUTHORIZING AN AMENDMENT TO THE CONTRACT BETWEEN THE CITY COUNCIL OF THE CITY OF SEAL BEACH 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, and by such reference made a part hereof as though herein set out in full. Section 2. The Mayor of the Seal Beach City Council 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 fifteen (15) days from the passage thereof shall be published at least once in the Sun Newspaper, a newspaper of general circulation, published and circulated in the City of Seal Beach and • thenceforth and thereafter the same shall be in full force and effect. PASSED, APPROVED and ADOPTED by the City Council of the City of Seal Beach, California, at a regular meeting thereof held on the day of , 2003. Mayor ATTEST: City Clerk 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 the foregoing Ordinance was passed, approved and adopted by the City Council of the City of Seal Beach at a meeting thereof held on the day of , 2003, by the following vote: Item J ` AYES: Councilmembers NOES: Councilmembers ABSENT: _Councilmembers and do hereby further certify that Ordinance Number has been published pursuant to the Seal Beach City Charter and Resolution Number 2836. City Clerk , 1,1, A), Ca1PERS EXHIBIT California Public Employees' Retirement System 11111111•■00.00.0.0"."."E3 40. IMINNINNUMM... AMENDMENT TO CONTRACT Between the Board of Administration California Public Employees' Retirement System and the City Council - City of Seal Beach 4. ...-....... The Board of Administration, California Public Employees' Retirement System, hereinafter referred to as Board, and the governing body of the above public agency, hereinafter 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, 168, July 1, 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, December 15, 1995, July 10, 1997 and May 21, 2003 which provides for participation of Public Agency in said System, Board and Public Agency hereby agree as follows: A. Paragraphs 1 through 13 are hereby stricken from said contract as executed effective May 21, 2003, and hereby replaced by the following paragraphs numbered 1 through 13 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. "Normal retirement age" shall mean age 55 for local miscellaneous members and age 50 for local safety members. 99 ''LEhSE DO NO t LH, L. .2 . 2. Public Agency shall participate in the Public Employees' Retirement t 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 the election of a contracting agency. 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. Ocean Beach Lifeguards (included as local safety members); d. Employees other than local safety members (herein referred to as local miscellaneous members). 4. 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. PERSONS COMPENSATED ON AN HOURLY BASIS HIRED AUGUST 1, 1968 OR AFTER. 5. The percentage of final compensation to be provided for each year of credited prior and current service for local miscellaneous members shall be determined in accordance with Section 21354 of said Retirement Law, subject to the reduction provided therein for service prior to June 30, 1972, termination of Social Security, for members whose service has been included in Federal Social Security (2% at age 55 Full and Modified). 6. The percentage of final compensation to be provided for each year of credited prior and current service as a local fire member shall be determined in accordance with Section 21362 of said Retirement Law (2% at age 50 Full). 7 The percentage of final compensation to be provided for each year of credited prior and current service as a local police member and an ocean beach lifeguard member shall be determined in accordance with Section . 21362.2 of said Retirement Law (3% at age 50 Full). 8. Public Agency elected and elects to be subject to the following optional provisions: a. Section 21571 (Basic Level of 1959 Survivor Benefits) for local fire members only. r .. ilEASEDO NOT SIGN "EXHIBIT ON: b. Sections 21624, 21626 and 21628 (Post- Retirement Survivor Allowance). c. Section 21222.1 (One -Time 5% Increase - 1970). Legislation repealed said Section effective January 1, 1980. d. Section 20042 (One -Year Final Compensation). e. Section 20965 (Credit for Unused Sick Leave) for local miscellaneous members and local police members only. f. Section 21024 (Military Service Credit as Public Service), Statutes of 1976. g. Section 20421 ( "Local Safety Member" shall include ocean beach lifeguards of a city as described in Government Code Section 20421). h. Section 21573 (Third Level of 1959 Survivor Benefits) for local miscellaneous members, local police members and ocean beach lifeguards only. i. Section 20903 (Two Years Additional Service Credit) for local miscellaneous members only. 9. Public Agency, in accordance with Government Code Section 20790, ceased to be an "employer" for purposes of Section 20834 effective on October 12, 1977. Accumulated contributions of Public Agency shall be fixed and determined as provided in Government Code Section 20834, and accumulated contributions thereafter shall be held by the Board as provided in Government Code Section 20834. 10. Public Agency shall contribute to said Retirement System the contributions determined by actuarial valuations of prior and future service liability with respect to local miscellaneous members and local safety members of said Retirement System. 11. Public Agency shall also contribute to said Retirement System as follows: a. Contributions required per covered member on account of the 1959 - Survivor Benefits provided under Section 21573 of said Retirement 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 term insurance rates, for survivors of all local miscellaneous members, local police members and ocean beach lifeguards. f 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 special valuations or of the periodic investigation and valuations required by law. c. A reasonable amount, as fixed by the Board, payable in one installment 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. 12. 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 th e Retirement System as determined by the periodic investigation and valuation required by said Retirement Law. 13. Contributions required of Public Agency 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 be2prescri b of by Board regulation. If more or less than the correct al be be made in contributions is paid for any period, proper adjustment 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 day of BOARD OF ADMINISTRATIQ �-` CITY COUNCIL PUBLIC EMPLOYEES' R : 1(R ENT SYSTEM CITY OF SEAL BEACH BY f " BY , J�\ KENNETH. W. W/f ZION, CHIEF PRESIDING OFFICER ACTUARIAL &' EMPLOYER SERVICES DIVISION PUBLIC 'EMPLOYEES' RETIREMENT SYSTEM �� ' J� Witness Daft � r Attest Clerk AMENDMENT ER# 377 PERS- CON -702A (Rev 8\02)