ORD 358 ORDINANCE NO. 358
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
WHEREAS, at a Budget Workshop held on May 8, 2000, the City Council
considered potential improvements to the City's current 1959 Survivor Benefit
Program and authorized staff to initiate an amendment to increase the benefit
from Level 1 to Level 4; and,
WHEREAS, staff requested and received the necessary documents to
amend the contract from the California Public Employee's Retirement System.
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 1st day of August 2000.
Ssz ,-*%/ k
MAYOR
ATTEST:
bLkdaQD
. CLERK
1
I' C
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. 358 passed first reading on July 5, 2000, was duly and
regularly adopted by the City Council of said City at a regular meeting thereof
held on August 1, 2000 and that the same was passed and adopted by the
following roll call vote:
AYES: Byrd, Ferraro, McTaggart, Stern
NOES: None
ABSENT: Lyon
ABSTAIN:
C CLERK
Ordinance No. 358
Page 2 of 2
CALIFORNIA PUBLICOPLOYEES RETIREMENT SYSTO
Actuarial and Employer Services Division
Public Agency Contract Services
P.O. Box 942709
Sacramento, CA 94229-2709
(916) 326-3420
CERTIFICATION OF COMPLIANCE WITH
GOVERNMENT CODE SECTION 7507
I hereby certify that in accordance with Section 7507 of the Government Code _._.
the future annual costs as determined by the System Actuary and/or the increase
in retirement benefit(s) have been made public at a public meeting of the
CITY COUNCIL of the
(governing body)
CITY OF RANCHO PALOS VERDES
(public agency)
on July 5, 2000 which is at least two weeks prior to the adoption of the
(date)
Resolution / Ordinance.
Clerk/Secreta
CITY CLERK
Title
Date July 10, 2000
PERS-CON-12A(rev. 1/96)
AGREEMENT
TO POOL
1959 SURVIVOR BENEFITS ASSETS AND LIABILITIES
BETWEEN THE
BOARD OF ADMINISTRATION
CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM
AND THE
CITY COUNCIL
CITY OF RANCHO PALOS VERDES
WHEREAS, Government Code Section 21574 provides for a single employer rate to be
established to provide benefits under said Section on account of members
employed by contracting agencies electing to include the provision of said
Section in their contracts; and
WHEREAS, Government Code Section 21574, requires pooling of all assets and
liabilities of all contracting agencies subject to said Section;
NOW, THEREFORE BE IT AGREED, that assets and liabilities of the City of Rancho
Palos Verdes and its covered employees shall be pooled pursuant to the
provisions of Government Code Section 21574.
BOARD OF ADMINISTRATION CITY COUNCIL
PUBLIC EMPLOYEES' RETIREMENT SYSTEM CITY OF RANCHO PALOS VERDES
BYI..) 2/ C �Qi BY Sk,--
KE►, TH W. MAR ION, CHIEF PRESIDING 0 Fl ER
ACTUARI L & EM LOYER SERVICES DIVISION
PUBLIC ' MPLOYEES' RETIREMENT SYSTEM
July 5, 2000
Date
PERS-CON-59(Rev.7/96)
EXHIBIT
Ordinance No. 358
Ca1PERS
California
Public Employees' Retirement System
VOINIUMNINISIMMUNINNIONIMIUMIIIIM
AMENDMENT TO C$ NTRACT
Between the
Board of Administration
California Public Employees' Retirement System
and the
City Council
City of Rancho Palos Verdes
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
December 1, 1974, and witnessed October 15, 1974, and as amended effective April 1,
1978, September 16, 1983 and February 11, 1993 which provides for participation of
Public Agency in said System, Board and Public Agency hereby agree as follows:
A. Paragraphs 1 through 11 are hereby stricken from said contract as executed
effective February 11, 1993, 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 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
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. 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. ELECTED OFFICIALS;
b. CROSSING GUSRDS;
c. WORK TRAINEES;
d. ADMINISTRATIVE INTERN; AND
e. SAFETY EPLOYEES.
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 21353 of said Retirement Law
(2% at age 60 Full).
6. Public Agency elected and elects to be subject to the following optional
provisions:
a. Section 21574 (Fourth Level of 1959 Survivor Benefits).
b. Section 20903 (Two Years Additional Service Credit).
7. Public Agency, in accordance with Government Code Section 20790,
ceased to be an "employer" for purposes of Section 20834 effective on
September 16, 1983. 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.
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. Contributions required per covered member on account of the 1959
Survivor Benefits provided under Section 21574 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
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.
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.
11. 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 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. 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 2nd day of September , 2000
BOARD OF ADMINISTRATION CITY COUNCIL
PUBLIC EMPLOYEES' RETIREMENT SYSTEM CITY OF RANCHO PALOS VERDES
r
BY �. • BY
KENN 'H MARZI , CHIEF PRESIDING 0 Fl ER
ACTU'RIA & EMPLOYER SERVIC S DIVISION
PUBLIC E 'LOYEES' RETIREMENT SYSTEM
_SI 9 ( 0
Witness Date
Attest: c19)\-A. 4
oatv.tTa
€-4°le
AMENDMENT
PERS-CON-702A(Rev.8196)