Loading...
Resolution 11953CITY OF ALAMEDA RESOLUTION NO. 11953 RESOLUTION OF INTENT APPROVING AN AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE CITY COUNCIL OF THE 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 procedure 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 and 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 20024.2 (One-Year Final Compensation) for local miscellaneops 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 the said governing body and the Board of Administration of the Public Employees' Retirement System, copy of said amendment being attached hereto, as an "Exhibit" and y this reference made a part hereof. 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 17th day of April , 1990, by the following vote to wit: AYES: Councilmenbers Camicia, Withrow and Acting President ,Arnerich - 3. NOES: None. ABSENT: Councilmember Thomas and President Corica - 2. ABSTENTIONS: None. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of said City this 18th day of April , 1990. /1. alVe 6 ' City lerk of the City of Alameda AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE CITY COUNCIL OF THE CITY OF AL?JIEDA 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 January 1, 1957, and witnessed December 20, 1956, and as amended effective February 1, 1961, April 1, 1964, May 1, 1965, October 1, 1973 and January 1, 1983, 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 January 1, 1983, and hereby replaced by the following paragraphs numbered 1 through 11 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 60 for local miscellaneous 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. 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; b. SAFETY EMPLOYEES; AND c. LOCAL HEALTH DEPARTMENT EMPLOYEES. EXHIBIT "A" 5. Assets heretofore accumulated with respect to 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. The percentage of final compensation to be provided for local miscel- laneous members for each year of credited prior and current service shall be determined in accordance with Section 21251.13 of said Retirement Law, subject to the reduction provided therein for service on and after Janaury 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 60 Full and Modified). 7. Public Agency elected to be subject to the following optional provisions: a. Sections 21380-21387 (1959 Survivor Benefits) excluding Section 21382.2 (Increased 1959 Survivor Benefits) and Section 21382.4 (Third Level of 1959 Survivor Benefits). b. Sections 21263/21263.1 (Post- Retirement Survivor Allowance). c. Section 20024.2 (One -Year Final Compensation). 8. 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. 9. Public Agency shall also contribute to said Retirement System as follows: a. A reasonable amount, as fixed by the Board, payable in one in- stallment 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 in- stallment 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. 10. 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. 11. 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 rde by direct payments between the employee and the Board. � B. This amendment shal"nnbe effective on the , 19 BOARD OF ADMINISTRATE] PUBLIC EMPLOYEES' RETIREMENT SYSTEM BY CHIEF, CONT T SERVICES DIVISION PUBLIC EMP1 EES' RETIREMENT SYSTEM II PERS- CON -702 (AMENDMENT) (Rev. 6/88) day of CITY COUNCIL ' OF THE 40 CITY OF ALA[ DA BY Presidin fficer Wi tnesODate Atte* Clerk