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Home My WebLink AboutCity Council Resolution 93-008 -.". ."'''''''''''''''''''''''''''''''''''''.'''''''''''''''''''''''''''''''''''''''.""""",,,,,.,,,,,,,,,,,,;,;.,,,,,,,.;,,,,,,.,,,,,,,,,,,,,,,,,,,,,,,,,,""II"""""""'."'''''''""".",,,,,.,,,,,,,.,,,~~ ~,,,,.,,,,,,,."''''",''''.''. RESOLUTION NO. 93-008 RESOLUTION OF INTENTION TO APPROVE AN AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE CITY COUNCIL OF THE CITY OF SARATOGA 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 2 % @ 55 Full and Modified formula for Local miscellaneous members, including an extension of the funding period to the year 2011. 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 the said governing body 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~~ _ Q ~þ{~~ -(NAME) Vi CP. ~1iìYor (TITLE) March 3, 1993 (Date adopted and approved) Ret. Form 122 C0302 (AMENDMENT) (Rev. 6/91) The above and foregoing resolution was passed and adopted by the Saratoga City council at a meeting held on the 3rd day of March, 1993, by the fOllowing vote: AYES: Councilmembers Burger, Monia and Vice Mayor Tucker NOES: None ABSENT: Counci lmember Kohl er and Mayor Anderson ATTEST: BuI(L {, ~~k Deputy City U-erk P\lÞ.SE DO NOT SlGN,UHrãìT om1- AMENDMENT TO CONTRACT BETWEEN TIlE BOARD OF ADMINISTRATION OF THE PUBUC EMPWYEES' RETIREMENT SYSTEM AND THE CITY COUNCIL OF THE CITY OF SARATOGA COpy The Board of Administration, Public Employees' Retirement System, hereinafter referred to as Board, and the governing body of above public agency, hereinafter referred to as Public Agency, having entered into a contract effective June 1, 1961, and witnessed April 27, 1961, and as amended effective April 6, 1973, April 1 , 1977 and May 1, 1978, which provides for participation of Public Agency in said System, Board and Public Agency hereby agree as follows: A. Paragraphs 1 through 9 are hereby stricken from said contract as executed effective May 1, 1978, and hereby replaced by the following paragraphs numbered 1 through 12 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 55 for local miscellaneous members. 2. Public Agency shall participate in the Public Employees' Retirement System from and after June 1, 1961 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. SAFETY EMPLOYEES. 5. Persons hired on or after April 6, 1973 and prior to January 1, 1975 on a temporary and/or seasonal basis not to exceed 6 months were excluded from PERS membership by contract. Government Code Section 20336 supersedes this contract provision by providing that any such temporary andlor seasonal employees are excluded from PERS membership subsequent to January 1, 1975. ðWE 00 NOT SIGN ~JT 0ttI:'f: 6. The percentage of fmal compensation to be provided for ~ocal miscellaneous members for each year of credited prior and current service shan be determined in accordance with Section 21251.132 of said Retirement Law, subject to the reduction provided therein for service prior to March 31, 1978, termination of Social Security, for members whose service has been included in Federal Social Security (2% at age 55 Fuil and Modified). 7. Public Agency elected to be subject to the following optional provisions: a. Section 20024.2 (One-Year Final Compensation). b, Section 20862.8 (Credit for Unused Sick Leave). c. Sections 21263 and 21263.1 (post-Retirement Survivor Allowance). d. Sections 21380-21387 (1959 Survivor Benefits) excluding Section 21382.2 (Increased 1959 Survivor Benefits) and Section 21382.4 (Third Level of 1959 Survivor Benefits). 8. Public Agency, in accordance with Government Code Section 20740, ceased to be an "employer" for purposes of Section 20759 effective on April 1, 1977. Accumulated contributions of Public Agency shall be fixed and determined as provided in Government Code Section 20759, and accumulated contributions thereafter shall be held by the Board as provided in Government Code Section 20159. 9. 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. 10. Public Agency shaU also contribute to said Retirement System as follows: a. 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. b. 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, 11. 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. 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 sball be eff4"the BOARD OF ADMINIS~TJ.O~~ PUBLIC EMPLOYEES' ~ENT SYSTEM r ~G BY =~ CHIEF, CO ' SERVICES DMSION PUBLIC E~ EES' RETIREMENT SYSTEM Q~ 12, PERS-CON-702 (AMENDMENT) (Rev, 10/92) day of ,19_, CITY COUNCIL OF THE CITY OF SARATOGA <I ./ r f' Witness Date ß- G.) <f'''l'"" Attest: #' BY Presiding Officer cterk