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HomeMy WebLinkAboutCity Council Resolution 99-45 RESOLUTION 99-45 RESOLUTION OF INTENTION TO APPROVE AN AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE CITY COUN,CI¡L CITY OF IAPIA l'OGA 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 21354 (2% @ 55 Full and Modified formula) for 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: ,_, J~ z¡k1fr;g Officer MAYOR, CITY OF SARATOGA Title JULY 21,1999 Date adopted and approved (Amendment) CON-302 (Rev. 4/96) Â CalPERS EXHIBIT California Public Employees' Retirement System +-., . AMENDMENT TO CONTRACT Between the Board of Administration California Public Employees' Retirement System and the City Council City of Saratoga + 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 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. E)ÇCLUDE PERSONS HIRED ON OR AFTER APRIL 6, 1973 WHO ARE EMPLOYED ON A TEMPORARY AND/OR SEASONAL BASIS IF IT IS A CONDITION OF EMPLOYMENT AT TIME OF HIRE THAT SAID EMPLOYMENT NOT EXCEED SIX MONTHS; AND b. SAFETY EMPLOYEES. 5. Prior to January 1, 1975, those members who were hired by Public Agency on a temporary and/or seasonal basis not to exceed 6 months were excluded from PERS membership by contract. Government Code Section 20305 supersedes this contract provision by providing that any such temporary and/or seasonal employees are excluded from PERS membership subsequent to January 1. 1975. 6. The percentage of final compensation to be provided for local miscellaneous members for each year of credited prior and current service shall be determined in accordance with Section 21354 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 Full and Modified). 7. Public Agency elected and elects to be subject to the following optional provisions: a. Section 20042 (One-Year Final Compensation). b. Section 20965 (Credit for Unused Sick Leave). c. Section 21624 and 21626 (Post-Retirement Survivor Allowance). d. Sections 21571 (Basic level of 1959 Survivor Benefits). PLEASE DO NOT SIGN "EXHmrr orn 8. Public Agency, in accordance with Government Code Section 20790, ceased to be an "employer" for purposes of Section 20834 effective on April 1, 1977. 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. 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 shall 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. 12. 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 et~ve on the day of ,19_. BOARD OF ADMINISTRATI~ CITY COUNCIL PUBLIC EMPLOYEES' RET~cnVlENT SYSTEM CITY OF SARATOGA ~ - 4~ ~ BY ~~ BY ~ KENNETH W. MARZ CHIEF PR-ESIDING OFFICE..~~ ACTUARIAL & EM YER SERVICES DIVISION ~ PUBLIC EMPLO S' RETIREMENT SYSTEM ~ ~ « ~ ~<:) Witnes~e Attest~'J Clerk AMENDMENT PERS-CON-7D2A (Rev. 8\96)