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HomeMy WebLinkAbout79-67 - Intention to Approve PERS Contract, Post-Retirement Survivor AllowanceJ RESOLUTION NO. 79-67 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COSTA MESA, CALIFORNIA, DECLARING ITS INTENTION TO APPROVE AN AMENDMENT TO THE CONTRACT BETWEEN THE BOARD OF ADMINISTRATION OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE CITY COUNCIL OF THE CITY OF COSTA MESA. WHEREAS, the Public Employees' Retirement Law permits the parti- cipation 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 legislative 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 21263/21263.1 (Post-retirement survivor allowance); NOW, THEREFORE, BE IT RESOLVED that the governing body of the above agency gives, and it does hereby give notice of intention to approve an amendment to the contract between the said governing body and the Board of Administration of the Public Employees' Retirement System, a copy of said amendment being attached hereto, as an "Exhibit" and by this reference made a part hereof. PASSED AND ADOPTED this 4th day of June, 1979. ayor of the City of. Costa esa ATTEST: City -Clerk of the City of Cos Mesa STATE OF CALIFORNIA ) COUNTY OF ORANGE ) SS CITY OF COSTA MESA } I, EILEEN P. PHINNEY, City Clerk and ex -officio Clerk of the City Council of the City of Costa Mesa, hereby certify that the above and foregoing Resolution No. 79-67 was duly and regularly passed and adopted by the said City Council at a regular meeting thereof, held on the 4th day of June, 1979. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Seal of the City of Costa Mesa this 5th day of June, 1979. City Clerk and ex -officio Clerkthe City Council of the City of Cos Mesa EXHIBIT ONLY for Resolution 79-67 AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE CITY COUNCIL OF THE CITY OF COSTA MESA The Board of Administration, Public Employees' Retirement System, hereinafter referred to as Board, and the governing body of above public agency, hereinafter referred to as Public Agency, having entered 'into a contract under date of August 7, 1978, effective August 13, 1978, which provides for participation of Public Agency is said System, Board and Public Agency hereby agree as follows: A. Paragraphs 1 through 9 are hereby stricken from said contract as executed effective August 13, 1978, and hereby replaced by the following paragraphs number 1 through 9 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 60 for local miscellaneous. 2. Public Agency shall participate in the Public Employees' Retirement System from and after August 13, 1978, 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 such as by express pro- visions thereof apply only on the election of contracting agencies. 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. Employees other than local safety members (herein referred to as local miscellaneous members). In addition to the classes of employees excluded from member- ship by said Retirement Law, the following classes of employees shall not become members of said Retirement System: NO ADDITIONAL EXCLUSIONS 4. The fraction of zero percent of final compensation for each year of creditable prior service and the fraction of 100% of final compensation for each year of accumulated current service as a miscellaneous member shall be determined in accordance with Section 21251.13 of said Retirement Law. Service credited under local system of Public Agency prior to the effective date of contract shall be treated as current service in accordance with Section 20930.7 (2% at age 60). 5. 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. Section 20024.2 (One-year final compensation). b. Section 20862.8 (Unused sick leave credit). c. Sections 21263/21263.1 (Post-retirement survivor allowance). Page 1 of 2 6. Public Agency, in accordance with Section 20759.1 Government Code, shall not be considered an "employer" for purposes of Chapter 6 of the Public Employees' Retirement Law. Contribu- tions of the Public Agency shall be fixed and determined as provided in Section 20759, Government Code, and such contribu- tions hereafter made shall be held by the Board as provided in Section 20759, Government Code. 7. Public Agency shall contribute to said Retirement System as follows: a. With respect to miscellaneous members, the agency shall contribute the following percentages of monthly salaries earned as miscellaneous members of said Retirement System: (1) 9.479 percent on account of the liability for current service benefits. b. A reasonable amount per annum, as fixed by the Board to cover the costs of administering said System as it affects the employees of Public Agency, not including the costs of special valuations 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. 8. 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. 9. 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, or adjustments on acount of errors in contributions required of any employee may be made by direct cash payments between the employee and the Board. Payments by Public Agency to Board may be made in the form of warrants, bank checks, bank drafts, certified checks, money orders or cash. B. This amendment shall be attached to said contract and shall be effective the day of 19 Witness our hands the day of , 19 BOARD OF ADMINISTRATION PUBLIC EMPLOYEES RETIREMENT SYSTEM BY Carl J. B echinger, Executive Officer Page 2 of 2 CITY COUNCIL OF THE CITY OF COSTA MESA BY Presiding Officer Cl erk K ,i