HomeMy WebLinkAboutOrdinance 64 ORDINANCE NO. 64
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY
OF SARATOGA AOTHORIZING AN AMENDMENT TO THE CONTRACT
BETWEEN THE CITY COUNCIL AND THE BOARD OF ADMINISTRATION
OF THE CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM
' '~" IT He City C6Unc~16fthe Cit~ of Sarat6ga does o~dain as
followS:
SECTION 1. Than an amendment to the Contract between
- the City Counci~ of the City of Saratoga and the Board .of Adm. ini~-
n,nrati~n, California'Ph~li~Employees' Retirement System, is hereby.
· authorized, a copX.' of said amendment being attached hereto, marke~
"Exhibit A", and by such reference made a part hereof as though
herein set out in ful.1.
SECTION 2. The Mayor of the City Council is hereby
Authorilzed, empowered, and directed to execune said amendment for
and on behlaf of said Agency.
SECTION 3. This Ordinance shall take effect 30.days
'° after the date of its adoption, and prior to the expiration of
o. 15 days from the passage thereof shall be published at lease once
in the Saratoga News, a newspaper of general circulation, published
a~d c~rcula~ed in the City of Saratoga, and thenceforth and
thereafter the same shall-be in full force and effect.
The above and foregoing Ordinance was regularly introduced
at a regular meeting of the City Council of-the City of Saratoga,
and after the waiting time required by l~w was thereafter passed
.· · and adopted at a regular.meeting of the City Council h~ld on the
2nd day of March , 1977.
AYES: ~1~it~ ~i~ ~ri~am~ ~ Co~L& ~|
NOES: NO~
ABSENT: NO~
MAYOR
~""~'~/' AMEN~T TO CONTRACT BETWEEN THE '.I.
BOARD OF ADMINISTRATION
PUBLIC R~PLOYEES' RE~I~FE~:T
~'~D THE
CITY CO~CIL
OF
CITY OF SARATOGA
The Board of Administration, Public L~nployees' Retirement System, herei~after
referrzd to as Board and the CITY CO~,ICIL of the CITY OF SARATOGA, heroinafter re-
ferred to as Public Agency having entered into a contract under date of April 27,
1961, effective June 1, 1961, and as amended effective April 6, 1973, which provides
for participation of Public Agency in said System, Board and Public Agency hereby
agree as follows~'
A. Paragraph 6 (a) shall be stricken from said contract and the following
Paragraph 6 (a) and 6 (b) shall be substituted therefore:
6(a) Section 20024.2 (defining "final compensation" for members on the
basis of average compensation earnable daring the year immediately
preceding retirement or any other one year period electe~ by the
"' ': ..... '.' "member.)., ~ "'.'. .....
-,..,.~ .~:~/..r~..~..~.,.,,~.. ~.,,-......:~ ,-...-..~..,.:;-:,~y-..~.~:~f. :V.:,..L:~:.~..· .;.,..~.;;:'....-(;,~..-.-..-:~,?.L~j~,..:...
6(b)Section 20862.8 (provide service credit at retirement for unused
sick leave).
B. Paragraph 6.D sb~li be a~ded to said contract:
6.5 PUblic Agency, in accordance with Section 20740, Government Code,
shall cease to be an ':employer" f..r purposes of Chapter 6 of the
Public ~ployees' Retirpment law effective.as of the effective
da~e of this amendment to this contract. Accumulated contributions
of the Pablic Agency as of the date of such amendment shall be
fixed and determined as provided in Section 20759, Govermment Code,._
emd such accumulated contributions mad contributions hereafter
made shall be held by the Board as provided in Section 20759, Governs,
nment Code.
C. 'Paragraph 7(a) shall be stricken from said contract and the following
pargraph 7 (a) shs_ll be substitued therefor:
7(a) With respect to miscellaneous members, the public agency shall'contri-
bute the following percentages of monthly salaries earned as mis-
cellaneous members of said System:
(1) 0.018 percent until Jane 30, 2000 on account of the liability
for prior service benefits.
(2) 6.073 percent on a6count of 'theliability for current service-
benefits.
Ret. Form 702-1
D. This amendment shall be attached to said contract~ and shall be effective. on
the. 1st .... day of April
Witness our hands this. 2nd day'of March
BOARD OF ADMINISTRATION' CITY COUNCIL OF THE
PUBLIC ReLOYEES' R~TET SYSTEM CITY OF SARATOGA
cer Pre /iiE ;: 6ffie'er ":
'Approved as to form: Attest:
'r .- ' ':~"', '- ' ' :..".': .' ' - ' .-' '. '' .' ]: '-/: ". t :-'-= '-.. i
·: "' .... ~. f' ? '. ~ ~"' ~ ? '" '~'
Ret. Form V02-2