Resolution 13436CITY OF ALAMEDA RESOLUTION 13436
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 fire 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.
it
Title
Date adopted and approved
(Amendment)
CON-302 (Rev. 4/96)
Ca1PERS
California
Public Employees' Retirement System
AMENDMENT TO CONT
110)
EXHIBIT
ACT
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, October
15, 1992 and March 11, 2001 which provides for participation of Public Agency in said
System, Board and Public Agency hereby agree as follows:
A. Paragraphs 1 through 14 are hereby stricken from said contract as executed
effective March 11, 2001, and hereby replaced by the following paragraphs
numbered 1 through 13 inclusive:
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.
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.
PLEASE DO NOT SIGN "EXHIBIT ONLY"
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);
Local Police Officers (herein referred to as local safety members);
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 under the local retirement system who waived their rights under
that system have been transferred to the Public Employees' Retirement
System and applied against the liability for prior service incurred
thereunder. That portion of assets so transferred which represent the
accumulated contributions (plus ' interest thereof) required of the
employees under said Local system have 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
under the local retirement system who waived their rights under that
system have been transferred to the Public Employees' Retirement
System and applied against the liability for prior service incurred
thereunder. That portion of assets so transferred which represent the
accumulated contributions (plus interest thereof) required of the
employees under said local system have 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 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).
PLEASE DO NOT SIGN "EX-IIBIT ONLY"
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 21362.2 of said Retirement Law
(3% at age 50 Full). The required member contribution is 9% of reportable
compensation.
9. Public Agency elected and elects to be subject to the fol owing optional
provisions:
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
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. 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.
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 rernittknces. Adjustments on account of
errors in contributions required oOny employee may be made by direct
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B. This amendment shall be effective,. the day of 4
CITY COUNCIL
SYSTEM CITY OF ALAMEDA 'NC/
payments between the employnd the Board.
BOARD OF ADMINISTRATION
PUBLIC EMPLOYEES' RETIRE
4).
BY
KENNETH W. MARZ
ACTUARIAL & EMP
PUBLIC EMPLOYE
BY t",)
0 IEF PRESIDING*
(QCER
ER SERVICES DIVISION
ETIREIVIENT SYSTEM cok.
AMENDMENT
PERS-CON-702A (Rev. 8\96)
Witness Date
Attest:
Clerk
Approved as to Form
CITY AT 0 NEY
B
.14 Ad
Assistant i 7Attorney
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 a regular meeting assembled on the 5th
day of March, 2002, by the following vote to wit:
AYES: Councilmembers Daysog, DeWitt, Johnson, Kerr, and Mayor
Appezzato - 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
6th day of March, 2002.
Lara Weisiger, City Clerk
City of Alameda