Resolution 13308CITY OF ALAMEDA RESOLUTION NO. 13308
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 ALAMEDA
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 21362.2 (3% @ 50 Full formula) for
local police 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:
Presiding Officer
Vice Mayor
Title
January 16, 2001
Date adopted and approved
(Amendment)
CON-302 (Rev. 4/96)
Atk
Ca1PERS
California
Public Employees' Retirement System
AMEND MENT
EXHIBIT
Ac
Between the
Board of Administration
California Public Employees' Retirement System
and the
City Council
City of Alameda
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
January 1, 1957, and witnessed December 20, 1956, and as amended effective
February 1, 1961, April 1, 1964, May 1, 1965, October 1, 1973, January 1, 1983,
July 1, 1990, December 31, 1990, March 21, 1991, July 4, 1991, September 3, 1992 and
October 15, 1992 which provides for participation of Public Agency in said System,
Board and Public Agency hereby agree as follows:
A. Paragraphs 1 through 13 are hereby stricken from said contract as executed
effective October 15, 1992, and hereby replaced by the following paragraphs
numbered 1 through 14 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 and age 50 for local safety members.
2. Public Agency shall participate in the Public Employees' Retirement System
from and after January 1, 1957 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. Local Fire Fighters (herein referred to as local safety members);
b. Local Police Officers (herein referred to as local safety members);
c. 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. ALL HOURLY RATED NON-CIVIL SERVICE EMPLOYEES HIRED
ON OR AFTER MAY 1, 1965; AND
b. LOCAL HEALTH DEPARTMENT EMPLOYEES.
5. Assets heretofore accumulated with respect to local miscellaneous
members in the local retirement system have been transferred to the Public
Employees' Retirement System and applied against the liability for prior
service incurred thereunder. That portion of the assets so transferred which
represent the accumulated contributions (plus interest thereof) required of
the employees under said local system has been credited to the individual
membership account of each such employee under the Public Employees'
Retirement System.
6. Assets heretofore accumulated with respect to local safety members in the
local retirement system have been transferred to the Public Employees'
Retirement System and applied against the liability for prior service incurred
thereunder. That portion of the assets so transferred which represent the
accumulated contributions (plus interest thereof) required of the employees
under said local system has been credited to the individual membership
account of each such employee under the Public Employees' Retirement
System.
The percentage of final compensation to be provided for each year of
credited prior and current service for local miscellaneous members shall be
determined in accordance with Section 21354 of said Retirement Law,
subject to the reduction provided therein for service on and after
January 1, 1959, the effective date of Social Security coverage, and prior to
December 31, 1982, termination of Social Security, for members whose
service has been included in Federal Social Security (2% at age 55 Full and
Modified).
8. The percentage of final compensation to be provided for each year of
credited prior and current service as a local fire member shall be
determined in accordance with Section 21362 of said Retirement Law (2%
at age 50 Full).
9. The percentage of final compensation to be provided for each year of
credited prior and current service as a local police member shall be
determined in accordance with Section 21362.2 of said Retirement Law
(3% at age 50 Full). The required member contribution rate is 9% of
reportable compensation.
10. Public Agency elected and elects to be subject to the following optional
provisions:
a. Section 21573 (Third Level of 1959 Survivor Benefits).
b. Sections 21624 and 21626 (Post- Retirement Survivor Allowance).
c. Section 20042 (One -Year Final Compensation).
d. Section 20938 (Limit Prior Service to Members Employed on
Contract Date) for Local safety members only._
e. Section 20965 (Credit for Unused Sick Leave).
f. Section 21635 (Post- Retirement Survivor Allowance to Continue
After Remarriage) for local' safety members only.
g. Section 21536 (Local System Service Credit Included in Basic Death
Benefit) for local safety members only.
h Section 20903 (Two Years Additional Service Credit) for local
miscellaneous' members only.
11. 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 and local safety members of said
Retirement System.
12. 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 21573 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 and local safety members.
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.
-13. 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.
14. 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 day of
BOARD OF ADMINISTRATION CITY COUNCIL
PUBLIC EMPLOYEES' RETIREMENT SYSTEM CITY OF ALAMEDA
BY BY
KENNETH W. MARZION, CHIEF PRESIDING OFFICER
ACTUARIAL & EMPLOYER SERVICES DIVISION
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
AMENDMENT
PERS-CON-702A (Rev. 896)
x -"n
Witness Dat4y-
.
Attest: cSN)
Clerk pproved as to Form
I, the undersigned, hereby certify that the foregoing Resolution was duly and
regularly adopted and passed by the Council of the City of Alameda in regular meeting
assembled on the 16th day of January , 2001, by the following vote to wit:
AYES: Councilmembers Daysog, DeWitt, Johnson and Kerr - 4.
NOES: None.
ABSENT: Mayor Appezzato - 1.
ABSTENTIONS: None.
IN WITNESS, WHEREOF, I have hereunto set my hand and affixed the official seal of said City this
17th day of January , 2001.
Diane Felsch, City Clerk
City of Alameda