HomeMy WebLinkAbout87-73 - Public Employee Retirement System Contract AmendedRESOLUTION NO. 87-73
A RESOLUTION OF THE CITY COUNCIL OF THE CI'T'Y OF
COSTA MESA AMENDING THE CTJNTRACT BE1WEEN THE
BCIARD OF ADMINISTRATION OF THE PUBLIC EMPLOYEES'
RETIREMENT SYSTEM AND THE CITY OF COSTA MESA.
The City Council of the City of Costa Mesa does hereby resolve, deter-
mine and order as fo 1 lows :
WHEREAS, the Public Fimployees' Retirement Law permits the participa-
tion 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 of the governing body of the public agency of a resolution
giving notice of its intention to approve an amendment to said contract;
and
WHEREAS, the following is a statement of the proposed change:
To provide Sections 21380-87 (1959 Survivor Benefits) including
Section 21382.4 (Third Level of 1959 Survivor Benefits) for local
miscellaneous members at a cost to the City of $3.50/Mo. per
Elmployee .
NON, 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 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 20th day of July 1987:
Mayor of the City of Costa Mesa
ATTEST:
Ci y Clerk of the City of Costa M
STATE CF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF WSTA MESA )
I, EILEEN P. PHINNE,Y, City Clerk and ex -officio Clerk of the City
Council of the City of Costa Mesa, hereby certify that the above and fore-
going Resolution No. 87-73 was duly and regularly passed and adopted by the
said City Council at the regular meeting thereof held on the 20th day of
July, 1987.
IN WITNESS WHEREOF, I have hereunto set my hand and of fixed the Seal
of the City of Costa Mesa this 21st day of July, 1987.
(yp
-&h_tli C ty Clerk arca ex -officio Clerk o he
City Council of the City of Cost esa
S\G`v AMENDMENT TO CONTRACT
o 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, herein—
after referred to as Public Agency, having entered into a contract effective
August 13, 1978, and witnessed August 7, 1978, and as amended effective July
15, 1979, which provides for participation of Public Agency in said System,
Board and Public Agency hereby agree as follows:
A. Paragraphs 1 through 9 are hereby stricken from said contract as executed
effective July 15, 1979, and hereby replaced by the following paragraphs
numbered 1 through 10 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 members.
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 those, which by
express provisions thereof, apply only on the election of a contract—
ing 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. 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. ALL SAFETY EMPLOYEES.
PLEASE byi'4 T ii;.l " UHISIT 0MY11
b. Public Agency shall contribute $3.50 per employee on account of
the liability for the 1959 Survivor Program provided under
Section 21382.4 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 beneficiaries of all local
miscellaneous members.
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.
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 (2% at age 60 Full).
6.
The following additional provisions of the Public Employees'
Retirement Law, which apply only upon election of a contracting
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agency, shall apply to the Public Agency and its employees:
a. Section 20024.2 (One—Year Final Compensation).
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b. Section 20862.8 (Unused Sick Leave Credit).
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C. Sections 21263 and 21263.1 (Post—Retirement Survivor Allowance).
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d. Sections 21380 — 21387 (1959 Survivor Program) including Section
21382.2 (Increased 1959 Survivor Benefits) and Section 21382.4
(Third Level of 1959 Survivor Benefits).
7.
Public Agency, in accordance with Government Code Section 20759, shall
not be considered an "employer" for purposes of the Public Employees'
Retirement Law. Contributions of the Public Agency shall be fixed and
determined as provided in Government Code Section 20759, and such
contributions hereafter made shall be held by the Board as provided in
Government Code Section 20759.
8.
Public Agency shall contribute to said Retirement System as follows:
a. With respect to local miscellaneous members, the agency shall
contribute the following percentages of salaries earned as
members of said Retirement System:
(1) 7.060 percent until June 30, 2000 on account of the
liability for current service benefits. (Subject to annual
change.)
b. Public Agency shall contribute $3.50 per employee on account of
the liability for the 1959 Survivor Program provided under
Section 21382.4 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 beneficiaries of all local
miscellaneous members.
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.
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.
9e 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
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Retirement System as determined by the periodic investigation and
valuation required by said Retirement Law.
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10. Contributions required of Public Agency and its employees shall be
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paid by Public Agency to the Retirement System within thirty days
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after the end of the period to which said contributions refer or as
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may be prescribed by Board regulation. If more or less than the
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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 ekfective on the
.` 19
BOARD OF ADMINISTRATION
PUBLIC EMPLOYEES' RETNT SYSTEM
BY
SANDRA C. Q1ND
ASSISTAp{�"t)CECUTIVE OFFICER
BENEFIq� ERVICES
4J�
PERS-CON-702 (AMENDMENT)
(Rev. 9/86)
day of
CITY COUNCIL
OF THE
CITY OF COSTA MESA
BY
Presiding Officer } `
Witness Date
Attest:
Cler1g