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HomeMy WebLinkAbout92-15 Contract Between City of Costa Mesa and Board of Admin of CALPERSORDINANCE NO. AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF COSTA MESA, CALIFORNIA, TO APPROVE AN AMEND- MENT TO THE CONTRACT BETWEEN THE CITY OF COSTA MESA AND THE BOARD OF ADMINISTRATION OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM. THE CITY COUNCIL OF THE CITY OF COSTA MESA DOES HEREBY ORDAIN AS FOLLOWS: SECTION 1. That an amendment to the contract between the City of Costa Mesa 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 City Council of the City of Costa Mesa is hereby authorized, empowered, and directed to execute said amendment for and on behalf of said Agency. SECTION 3. This Ordinance shall take effect and be in full force thirty (30) days from and after the passage thereof, and prior to the expiration of fifteen (15) days from its passage shall be published once in a newspaper of general circulation, printed and published in the City of Costa Mesa or, in the alternative, the City Clerk may cause to be published a summary of this Ordinance and a certified copy of the text of this Ordinance shall be posted in the office of the City Clerk five (5) days prior to the date of adoption of this Ordinance, and within fifteen (15) ' days after adoption, the City Clerk shall cause to be published the aforementioned summary and shall post in the office of the City Clerk a certified copy of this Ordinance together with the names of the -members of the City Council voting for and against the same. PASSED AND ADOPTED this 30 day of September, 1992. ATTEST: 6 �LC�L.Q,,j City Clerk of the City of Costa Mes STATE OF CALIFORNIA ) COUNTY OF ORANGE ) ss CITY OF COSTA MESA ) A 1� j L d, Mayor the City of Costa Mesa APPROVED AS TO FORM CITY ATTORNEY 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 Ordinance No. 11 x.-15 was introdugeId and cons'dered se tion by section at a regular meeting of the City Council held on the gbh day of 1992, and they ter pass an ado ted as a whole at a �eeting of t e City Council held on the-30cay of , 1992, by the following roll call vote: cokNc. t- mew oc- q s - .,?Z . AYES: / NOES: ABSENT:-•u.@J - IN WITNESS WHEREOF, I v eun o set my hand and affixed the Seal of the City of Costa Mesa this -1,A day of , 1992. City Clerk and ex -officio Clerk of the City Council of the City of Costa Mesa PIEaSEP0 NOT SIGN "EXHIBIT ONLY" COPY AMENDMENT =TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION OF THE 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 effective. August 13, 1978, and witnessed August 7, 1978, and as amended effective July 15, 1979 and October 25, 1987, which provides for participation of Public Agency in said System, Board and Public Agency hereby agree as follows: A. Paragraphs 1 through 10 are -hereby stricken from said contract as executed effective October 25, 1987, and hereby replaced by the following paragraphs numbered 1 through 11 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 contracting -agency. 3. Employees of Public Agency in the following classes shall becolne members of said Retirement System except such in each such class as are excl ded 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, pot become members of said Retirement System: a. SAFETY EMPLOYEES. 5. The percentage 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 95 at age 60 Full). EXHtl31T To 01?DINAN C1= y.1 -1S PLEASE DO NOT SIGN "EXHIBIT OWN* 6. Public Agency elected to.be subject to the following optional provisions: a. Section 20024.2 (One -Year Final Compensation). b. Section 20862.8 (Credit for Unused Sick Leave). C. Sections 21263 and 21263.1 (Post -Retirement Survivor Allowance). d. Sections 21380-21387 (1959 Survivor Benefits) including 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 the contributions determined by actuarial valuations of prior and future service liability with respect to local miscellaneous members of said Retirement System. 9. Public Agency shall also contribute to said Retirement System as follows: a. Public Agency shall contribute $2.50 per employee, per month on account of the liability for the 1959 Survivor Benefits 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 survivors of all local miscellaneous members. 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 administeIIng 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. 10. 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.