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Resolution 09908CITY OF ALAMEDA RESOLUTION NO.99u8 RESOLUTION OF INTENTION TO APPROVE AN AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION CF 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 them- selves 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 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 summary of the change proposed in said contract; and WHEREAS, the following is a statement of the proposed change: To provide 2% @ 60 Full formula (due to Social Security termination) for local miscellaneous members. NOW, THEREFORE, 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 Employees Retirement System, a copy of said amendment being attached hereto, as an "Exhibit" and by this reference made a part hereof. October 11, 1982 (Date adopted and approved) Mayor (TITLE) Ret. Form 122 AMENDMENT TO CONTRACT DETYEEN THE BOARD OF ADMINISTRAT:ON PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE OF THE • CITY OF ALAMEDA The Board of Adm iii, 'tion, Public Employees' Retirement System, hereinafter referred to as rd, and The governing body of above public agency, hereinafter referred ' .,Pubic Agency, having entered into contract under date of December effective January 1 1957 . and as mended effective February 1, 196 Apm- 1964, May 1, 1965, and Octob2r 1, 1973, which provides for participation of(MVic Agency in said System, mpard and Public Agency hereby agree as follows: A. Paragraphs 1 through 8 are hereby stricken from said contract as e:e....eted effective October 1, 1973, and hereby .replaced by the followin paraaphs numbered 1 through 9 inclusive: 1. All words and terms used herein which are defined in the Psf.cdic Employees' Retirement Law Shall have.•the meaning as defined th(eaein unless otherwise specifically' provided. 7Normni retirement shall mean •age 60 for local miscellanous 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 •ony on election of a contracting agency and are not provided for herein and to all amendments to said L hereafter enacted except such as by express provisions thereof apply only an the election of contracting agencies. 3. Employees of Public Agency in the following classes shall become members of said Retirement :distem ept such in each such clasm as are excluded by law or this agreement: a. Employec s. other than local safety members ;1,,rein reforrot local miscellaneous assabea), In addition to ths dla5oes (;;,,f2 asolda-e- excladad froa • said Retire7;tent Lau, ths f.d3atta-ina• classeo•of anployeeta tat,o1 Lecaide meit;beas of said St t A:TOL 3;:aisata'd' ;:d.!sTaT Nda CIVIL 7.-S;s7VTetT d't•••• S,Y I Id;„'.i:t'ST;';'..S7di:. • LOC1L POia.r.:Cdt;;J:,csf It••ata toat 44,444-7 4. Assets acuiated with respect to members in the local rstiresstit system havestrnnsferrel to the Public Employees' Rstirssast System and appiirsainst the liability for prior service :incurred • thereunder. That pnnann of the assets so transferred representing the accumulated contribuns (plus interest thereupon) reduirea of the enpioyees under •said 4ifi_ystem has been credited to the individual membership account 6-c0,7ch such employee under the Public Employees' Retirement System. 5. The fraction of final compensation to e provided for local miscellaneous members for each year of credited prior and current service.shall be that provided in Section 21251.13 subject to the reduction provided therein for service on or after January 1, 1959 and prior to January 1, 1 933 for members whose service has been included in Federal Social Security. 6. The following additional provisions of the Public Employees' Retirement La apply only upon election of a contractin nency shall apply to the Public Agency and its employees: a. Sections 21380-21387 (199 Survivors Program), excluding. EtStion 21382.2 (Increased 1959. Survivors benefits). b. Sections 21263/21263.1 (Post-retirement survivor allowance). Public Agency shall contribute to said Retirement System as foalsws: a. With respect to miscellaneous members, the agency shall contribute the following percentages of monthly salaries F,urned as miscellaneous members of said Retirement System: (1) 3.493 percent until June 30, 2000 on account of the liability for prior service benefits. (2) 14.195 percent on account of the liability for current service benefits. (3) 0.400 percent on account of the liability for the 19fS,) Survivor Program. b. A reasonable amount, as fixed by the Board, payable ts.. ott instnilnont -within. 60 rtyys of Jate of contract to cover f costs of•antinistsySta caid it affects tno emoloytH. not isadlaaa'ats tho costs of aboaita. vtatd:.al• • or of tho pohiodio ilyttostSatataas anA valuationn roquitad Yo . A reatoroble onount as ftlYsd 'so' the Board, nnyable ir Yrs eoina ots of tbs.; poricsic invohtlatosjon aba valuations rotluareq • ftoty and ito - - suOjdot to saJobt'.datt ty 'E:totS socount of a:donSaorits to ttt T,dat, std on account of ttio oynobiabbo tha R.otirsossS 6ystom as d6termaood. by the periodic invearienioa sad• vslustios requirsd by saad ReSirenent Law. 9. Contributions required of Public Agency and its employees shali paid by Public Ageno y. to the Retitrement System within thirty dayt, 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, or adjustments on account of errors in contributions required. of 2,1- employee may be made by direct cash payments between the emplo7et•and the Board. Payments by Public Agency to Board may be made in form of warrants bank checks, bank drafts, certified checks, money orders or cash. B. This amendment shall be attached t� said contract and shall be effective on the day of Witness our hands the BOARD OP KDHINISTEATION PUBLIC EMPLOYEES RETIREMENT SYSTEM BY CARL J. BLECHINOER, EXECI.1T Approved as to form: G. //c day of CITY COUNCIL OF THE CITY OF ALAYEDA BY Presiding Officer esemer, Legal Office, Date Clerk PERS CON-702 1, the undersigned, hereby certify that the foregoing Resolution was duly and regularly adopted and passed by the Council of the City of Alameda in an Adjourned Regular Meeting assembled on the llth of October, 1982, by the following vote to wit: AYES: Councilmen Diament, Gorman, Sherratt, Stone and President Corica - 5. NOES: None. ABSENT: None. IN WITNESS WHEREOF, I have hereunto set my hand and 'affixed the official seal of said City this 12th day of October, 1982.