ORD 362 ORDINANCE NO. 362
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY
OF RANCHO PALOS VERDES AUTHORIZING AN
AMENDMENT TO THE CONTRACT BETWEEN THE
CITY OF RANCHO PALOS VERDES AND THE BOARD
OF ADMINISTRATION OF THE CALIFORNIA PUBLIC
EMPLOYEE'S RETIREMENT SYSTEM FOR 2% @ 55
RETIREMENT FORMULA AND ONE-YEAR FINAL
COMPENSATION BENEFIT FACTOR
WHEREAS, at a Budget Workshop held on May 8, 2000, the City Council
considered potential improvements to the City's current employee retirement
program and directed staff to investigate an amendment to increase the benefit
level to 2% @ 55 with a one-year final compensation benefit factor; and,
WHEREAS, on September 5, 2000, Council authorized staff to contract
with Aon Consulting to prepare a financial analysis of the proposed changes
based on the annual actuarial reports prepared for the City by CaIPERS over the
last several years; and,
WHEREAS, staff requested and received the necessary documents to
amend the contract from the California Public Employee's Retirement System.
WHEREAS, on February 20, 2001, the City Council considered the
proposed amendments at a public meeting.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RANCHO
PALOS VERDES HEREBY ORDAINS AS FOLLOWS:
Section 1: The City Council hereby authorizes an amendment to the
contract between the City of Rancho Palos Verdes and the Board of
Administration of the California Public Employee's Retirement System, 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 City of Rancho Palos Verdes is hereby
authorized, empowered and directed to execute said amendment for and on the
behalf of said Agency.
Section 3: This Ordinance shall take effect 30 days after the date of its
adoption.
Section 4: The City Clerk shall certify to the adoption of this ordinance and
shall cause the same to be posted in the manner prescribed by law.
PASSED, APPROVED and ADOPTED this 20th day of March 2001.
,
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ATTEST:
41 /.
14AAA _J
CITY CLERK
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss
CITY OF RANCHO PALOS VERDES )
I, Jo Purcell, City Clerk of the City of Rancho Palos Verdes, do hereby certify that
the whole number of members of the City Council of said City is five; that the
foregoing Ordinance No. 362 passed first reading on February 20, 2001, was
duly and regularly adopted by the City Council of said City at a regular meeting
thereof held on March 20, 2001 and that the same was passed and adopted by
the following roll call vote:
AYES: Byrd, Stern, and Mayor Lyon
NOES: None
ABSENT: Ferraro and McTaggart
ABSTAIN: None
4 ar
t r'
�r I J►
CITY CLERK
CALIFORNIA PUBL - EMPLOYEES' RETIREMENT SY M
- ' Actuarial and Employer Services Division
Public Agency Contract Services
P.O. Box 942709
Sacramento, CA 94229-2709
(916) 326-3420
CERTIFICATION
OF
FINAL ACTION OF GOVERNING BODY
I hereby certify that the City Council of the
(governing body)
City of Rancho Palos Verdes
(public agency)
adopted on March 20 , 2001 , byan affirmative vote of a majority
(date)
of the members of said Governing Body, Ordinance
(Ordinance or Resolution)
No. 362 approving the attached contractual agreement between the
Governing Body of said Agency and the Board of Administration of the California Public
Employees' Retirement System, a certified copyof said Ordinance No. 362
Y
(Ordinance or Resolution)
in the form furnished by said Board of Administration being attached hereto.
1) 86,ii',)7-').
.A _k
Clerk/Secreta
City Clerk
Title
Date March 22, 2001
PERS-CON-5(Rev. 1/96)
EXHIBIT
Ordinance No. 362
CaiPEIS
California
Public Employes' Retirement System
AMEIVI..:MENT
j3etiv&en the •
Board of Administration
California Public Employees' Retirement System
and the
City. council
City...ofRancho Palos Verdes
The Board of Adminis#ra#ion, California Public gr00140:0WAR6tiroment Systern hereinafter
referred.tti as Board, end the gOiern#1g body of the above pint c agenow.hereih after re#erred to
as Public Agency, having entered':in to a contact effect Decerr�ber`1, 1 J7�k, and witnessed
October.15, 19!74, and .0s amended effective•April 1, 1 78, September 16, 1983, February 11,
1993 and' S60ember 2, 20QO;which provers fq'r particip0on q public Agency in said System,
Board and Publjq Agency hereby agree as follows
A. Paragraphs 1 thrOugh 11 are heresy stricken from said contract as executed effective
September 2, 2000, and 11.ereby replaced by:' the• following paragraphs numbered 1
through 11 inclupive:
1. All words and terms used herein which ate Ctefined in the Pubic 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.
2. Public Agency shall participate in the Public Employees' Retirement System from
and after December 1, 1974 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 efection 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. :Employees other than local safety members (herein referred to as local
miscellaneous..rarer bers).
4. In addition to the classes of employees excluded from membership by said
R:etirenle.0� w., the��fo.Ilowir g: lasses of.:e ployees.shall not become.me bers..of
said Retirement:System:
.e. ELECTED oFFI:CIALS;
b. CROSSING� UA R DS
.c. WORK:.T AI E S.,::.
:�d. AD I ISTR T.V . INT:ERN;AND
e. SAFETY•EMPLOYEES.
•
5. The .percentage....of final compensation to be provided for each year of credited
prior.;and,:c rrei►nt::•s ►icee! .s: a local *l-lane€ ,, eh ber shall be'determined in
accordance; nth Sectionsaid.Retirement-Law (2% at age::=5.5 Full).
6. Public Agency:;elected:::and elects to be st bj:± ct to:the followingioptiona:l.:provisions:...
a. .Section,2'1.574.:::(Fourth Level of 1::95 ::Survivor.:Benefits).
b Section 2090 (Two Years Additioriat.Service Credit).
cr Section'20042 (OnYear Final•Compensatio.n).
7. Publ c ge cy, irk:accordance with.-Gove: tent:Code..:Sectign..20790, ceased to be
an ehiti loy er .for :purposes.::.of effective on 'September 16
,
'983.
•Accumulated contributions o
Pub lic Agency:.s.ha:ll be fixed :::and determined as
provided Ppvoffirtent Code Section 20834,x!':::and accumulated ..contributions
thereafter shall 0e::::.held. by the .Beard as provided in Government Code Section
208.34.
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 niiscellarletOs members of said Retirement System.
9. Public Agency shall also contribute to said Retirement System as follows:
a. Contributions required per covered r ember on account of the 1959
Survivor Benefits provided ;under Section 21.574 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 cots 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 i.n one installment as
the occasions arise, to cover the costs of special..valuations on account of
employees of Public Agncy, and costs of the periodic investigation and
valuations required. by taw.
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 n account of the experience. under the Retirement System
as determined by the periodic investigation and .valuation• required by said
Retirement Law.
11. :Contributions lequired of Public Agency and..its employees shall be::p :id by Public
.Agency to the R tireri ent System.within:.fifteen, days-lifter the end of the period to.
which. said..contr utions r fer..Or as may .be `e-scribed E by :Board regulation. If
more o Less than:,:the correct:amount of contributions is paid for any.period, proper
adjustment :shell a::: node in iii..;.-:conpection with subsequent .:remittances.
.Adjustments on account:.of a r+ r in :contributions r quod of any employee •may
be made:::o ::. irect pa yr tints between.they:er i. to ee a df thel Board.:.
B... This mendment:shall be effective:on.the 21st .day of •••:. : , 2001 .
: ARP...OF A #I N I STRATI ON CITY C.O U N: I L
ppoLic EMPLOYES':REPR;E: ENT STEIVI: i OF RANCHO PALQS,VERDES
BY
KEN N.:.: II�ARZI'i N NP:::. f?RESI DI FI
ACTUUARK ::: EMPLOYER' ERV ICES D IV ISIO N
:PUBLIC.E PLYEE:S'.:RETIREMENT `STEM
# t
W t ss Cate
Attest:
b/
Cie k
AMENDMENT •
PERS-CON-702A(Rev.8196)
Jill
RANCHO PALOS VERDES
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) SS AFFIDAVIT OF POSTING
CITY OF RANCHO PALOS VERDES)
The undersigned, being first duly sworn, deposes and says:
That at all times herein mentioned, she was and now is the appointed City Clerk
of the City of Rancho Palos Verdes;
That on March 22, 2001, she caused to be posted the following document
entitled: Ordinance 2, a copy of which is attached hereto, in the following locations:
City Hall Ladera Linda Community Center
30940 Hawthorne Blvd. 32201 Forrestal Drive
Rancho Palos Verdes Rancho Palos Verdes
Ryan Park Hesse Park
30359 Hawthorne Blvd. 29301 Hawthorne Blvd.
Rancho Palos Verdes Rancho Palos Verdes
I certify under penalty of perjury that the foregoing is a true and correct affadavit of
posting.
(_# _ ii
City Clerk
W:\FORMS\Form 150-Affadavit of Posting Ordinances.doc