HomeMy WebLinkAboutCity Council Resolution 806 RESOLU~,.~a NO. 806
RESOLIrEIOtt OF INTENTIOn1 TO LPPROYE
~NT TO CONTRACT BETWEEI~
BOARD OF AI~flNISTRATION OF THE
PUBLIC ~FLOYEES* KETIR~NT SYST~2!
AND THE
CITY COUNCIl.
OF THE
CITY OF SARATOGA
~{EREAS~ 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 my elect Co subject them-
selves and their employees to amendments to said law; and
~IEREAS~ one of the steps in the procedure Co amend this contract is the
adoption by the legislative body of the public agency of a resolu-
tion giving notice of its intention to approve an amendment to
said contract, which resolution shall contain a sumumry of the
change proposed in said contract; and
." ~HEREAS, the following is a statement of the proposed change:
1, Defining "final compensation" for members on the
basis of average compensation earnable during the year
immediately preceding retiremen.ti.:~=~r a~y~':;.on:e year elected
by the member.
2, Provide service credit at retirement for unused sick leave.
NO~, TSEREFORE, BE IT RESOLVED~ that the governing body of the above agency
gives, and it does hereby give notice of intention to approve an
amendment to the contract between the said governing body and the
Board of Administration of the Public Employeese Retirement System,
a copy of said amendment being attached hereto, as an "Exhibit"
and by this reference made a part hereof.
CITY COUNCIL OF TEE
CITY OF SARATOGA
(Title)
Mayor
Pebruar~_ 2_~ 1977 .....
'(Date adopted and approved) Rat. Form 122
BOARD OF ADMINISTRATION
· PUBLIC E~' P~ETE',~2 SYSTI~
AND THE
CITY COUNCIL
CITY OF SAIIATOGA
The Board of Administration, Public i~uployees' Retirement System, heroinafter
referred to as Board and the CITY COUNCIL of the CITY OF SARATOGA, heroinafter re-
ferred to as Public Agency having entered into a contract under date of April
1~61, 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) s_h~_l]_ be substituted therefore:
6(a) Section 20024.2 (defining "final compensation" for members on the
basis of average compensation earnable during the year immediately
preceding retirement or any other one year period elected' by the
member).
6(b)Section 20862.8 (provide service credit at retirement for unused
sick leave)
Paragraph 6.5 shall be a~ded to said contract:
6-5 Public Agency, in accord~_~ce with Section 207~,~;Government Code,
shall cease to be an "employer" f. r purposes of Chapter 6 of the
Public Employees' Retirement Law effective as of the effective
. date of this amendment to this contract. Accumulated contributions
· . of the Public Agency as. o.f the date of such amendment s~3:l be
fixed and determined as provided in ~ection 20?59, Government Code,
and such accumulated contributions and contributions hereafter
made shall be held by the Board as provided in Section 20?59, Gover-
nment Code·
C. ParagraPh 7(a) shall be stricken from said contract and the following
pargraph ? (a) shall 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) O.O18 percent until June 30, 2000 on account of the liability
for prior service benefits.
(~) ~.O73 percent on account of the liability for current service
benefits.
Rot. Form 702-1
D. This amendment shall belattached to said contract and shall be effective on
the ............... 2.nd.. ........... _ _. day of February, 1977 -
Witness our hands this : 2nd, ............. day 0£ Febr~ry, 1977 -
BOARD OF ~STEATION CITY COUNCIL OF THE
PUBLIC E~PIOYEES' 1~ SYSTE~ CIT~ OF SARATOGA
BY~f J~ Biechir~er, Ib~ecutive OffiCer ~idi~"6f~'~e'~ ' ="~'
Mayor colman M. Bridge2
Approved as to form: Attest:
Ret. Form 702-2