CC RES 2000-044 RESOLUTION NO. 2000-44
RESOLUTION OF INTENTION
TO APPROVE AN AMENDMENT TO CONTRACT
BETWEEN THE
BOARD OF ADMINISTRATION
CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM
AND THE
CITY COUNCIL
CITY OF RANCHO PALOS VERDES
WHEREAS, the Public Employees' Retirement Law permits the participation 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 procedures to amend this contract is the adoption
by the governing 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 21574 (Fourth Level of 1959 Survivor
Benefits) for local miscellaneous members.
NOW, 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 said public agency 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.
By: -d4\
Presiding Officer
Mayor
July 5, 2000 pp
p
Date adopted and approved Title
• (Amendment)
CON-302(Rev.4/96)
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)
CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM
Actuarial and Employer Services Division
Public Agency Contract Services
P.O. Box 942709
Sacramento, CA 94229-2709
(916) 326-3420
CERTIFICATION OF GOVERNING BODY'S ACTION
I hereby certify that the foregoing is a true and correct copy of a Resolution adopted
by the
CITY COUNCIL of the
(governing body)
CITY OF RANCHO PALOS VERDES
(public agency)
on , July 5, 2000
(date)
I
410 „4-,41',1#
Clerk/Secretary
CITY CLERK
Title
PERS-CON-12 (rev. 1/96)
Resol. No. 2000-44
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Ca1PERS
California
Public Employees' Retirement System
AMEN tlENT TO CONT ACT
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.
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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.
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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
BY A4110. ' BY
'
KENN H 'MARL , CHIEF )1-6-- PRESIDING O Fl ER
ACTU a RIA & EMPL YER SERVICES DIVISION
PUBLIC E , 'LOYEES' RETIREMENT SYSTEM
CUOC)
Witness Date
Attest:
491) 4
06-n Cle"
AMENDMENT
PERS-CON-702A(Rev.8\96)