Resolution 12309CITY OF ALAMEDA RESOLUTION NO. 12309
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 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
contact 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 contact; and
change:
WHEREAS, the following is a statement of the proposed
To provide 2% @ 55 Full formula for local
miscellaneous members, including an extension
of the funding period to the year 2011.
NOW, THEREFORE, BE IT RESOLVED that the City Council of
the City of Alameda does hereby give notice of intention to approve
an amendment to the contract between the said governing 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.
"°‘''
N0�
Q . AMENDMENT TO CONTRACT COPY
BETWEEN ThIE
BOARD OF ADMINISTRATION
OF THE
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
AND THE
CITY COUNCIL
OF TIIE
CITY OF ALAMEDA
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, January 1, 1983, July 1, 1990,
December 31, 1990, March 21, 1991, July 4, 1991 and September 3, 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 September
3, 1992, and hereby replaced by the following' paragraphs numbered 1 through 13 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 50 for local miscellaneous members and age 55
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.
rlitAbt UV NOT 51GN "EXHIBIT ONLY"
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.
7. 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 21251.13 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 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 safety member shall be determined in accordance with Section
21252.01 of said Retirement Law (2% at age 50 Full).
9. Public Agency elected to be subject to the following optional provisions:
a. Sections 21380 -21387 (1959 Survivor Benefits) including Section 21382.4 (Third
Level of 1959 Survivor Benefits).
b. Sections 21263 and 21263.1 (Post- Retirement Survivor Allowance).
c. Section 20024.2 (One -Year Final Compensation).
d. Section 20835.1 (Limit Prior Service to Members Employed on Contract Date)
for local miscellaneous members only.
e. Section 20862.8 (Credit for Unused Sick Leave).
g.
Section 21266 (Post- Retirement Survivor Allowance to Continue After
Remarriage) for local safety members only.
Section 21361.5 (Local System Service Credit Included in Basic Death Benefit)
for local safety members only.
h. Section 20818 (Two -Years Additional Service Credit) for local miscellaneous
members only.
10. 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.
11. Public Agency shall also contribute to said Retirement System as follows:
a. Public Agency shall contribute $2.50 per employee, per month on account of the
liability for the 1959 Survivor Benefits provided under Section 21382.4 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.
12. 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.
13. 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
,19 .
BOARD OF ADMINISTRATION
CITY COUNCIL
PUBLIC EMPLOYEES' RETIREMENT�YSTEM OF THE
e ,A� CITY OF ALAMEDA
� BY BY
CHIEF, CONTRACT DIVISION Presiding Officer
PUBLIC EMPLOY RETIREMENT SYSTEM 4..
� Witness Date `e'
S�
Attest:
Cle y
PERS- CON -702 (AMENDMENT)
(Rev. 1/92)
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 18th day of
August , 1992, by the following vote to wit:
AYES: Councilmembers Arnerich, Camicia, Lucas, Roth
and President Withrow - 5.
NOES: None.
ABSENT: None.
ABSTENTIONS: None.
IN WITNESS, WHEREOF, I have hereunto set my hand and affixed the
official seal of said City this 19th day of August , 1992.
Dian-. Felsch, City Clerk
City • Alameda