Resolution 05444REGGIE:TH.0N NO. 9.04
RESCHEITION OF INTENTION TO APPEOVE CONTRACT PROVIDING
(f :o ,‚77, 2N :LH amATt, avnL vvnvol pbet vs ' SYSTEM
ALEADAG
TA511=As, the State Employees, Retirement Lam tarmAto the participation
of Public Agengies in the State Employees, Retirement Gystem, making thEir employ-
ees mernburs of SaNU. Styatote, and sets forth. the. procedure by whinh participation may
be ocorapliseed; and
WHEREAS, one step in ooid 7, 7,. is the adoption by' the legislative
body of the Public Aonoy of a resolution giving nation) of intentNhn. to asbrove A
contract between said Governing Body End. the Boor of Administration of said Retire-
mhnt Syuterou '7 "7 for said participarlam, which. said resolution shalh. contain
a summary of the major provisions of the proposed FetiremEnt System; and.
WHEREAS, the following is a summary of the major provisions of the pro-
posed Retirement System.:
1. The system. is administered. by a board. 7,1 eight nymbers, com-
posed of three members of the Eystem an official of n hank, an offi-
cial of a life Luau:gauge company, the Director of Finance, a member
of the StatE Personnel Board, 2nd an official of the Uninvorsity of
California.
2. 5) 17, fornservice is optional upon attaimmunt of age. 55 by
Local Safety Members klocal firemen, local policemen*, and county peace
offiyers) and age 60 or aga 55 at fhb election of the furlib Agencotu
by other employees, and. comoistion of twenty yearo of service for the
Public, Agency, and Ao 5' 1,7,7, at age 65 for Local Safety. Members,
and at age IO for other employees.
3. The monthly netinement al:lbws:Eve payabNe upon retirement for
service. is GehenUent upon such fovtors as. ger, sex, salEry, and years
'7 service. For Local Safety Members retiring at orgy 55 in paragraph
2, or at a bighor age with. 20 years of service, the monttly allowance
is abrroximately one-half tHe ever:sae monthay salary (salary over
0.4515,66 being excluded unlass Aguncy elects othersise) during the five
years innudiatel:y preceding retirement, Gniess thc Public Agency elects
to provide prior service benefits at less than tho full amount. For
other Agency ontloyees, the -monthly. allowance upon retirement at agp
65 Sr the Agenby eleRts 60 as the lowest optional servIce retiremynt
age, As 1/70th of the 0,100 monthly salary duping the five years
iimmediately preceding retirement, for each. yRar of service after the
effective date of participatAon, plus approximately EIGItt, or leas az
may be provided. in said contract by the Public 7, '1 for its eirplpy-
ees, of al Compensation." or the ayerbge monthly barlary during
the Leree years ionEdiately precedEng the effective date of partipipa-
Ilan, for saub. year of service arior tc that date. Upon ratirenent at
age 60, if the Agency elects 55 as the lowest optional service retire-
ment age, the fraction is. approximately J/60th. instRad of loldOth, or
exactly- 21IEUG., if the guaranteed frabtlon elEe is elucted. TRe
fractions arA reduced for both current and prior service if retirement
ia below SO, and increased ona:. for current service, if' rettrement is
abocb 60.
R, A minimum service retiremerM allowaRcp of $RR per month is gpar-
anteed upon retirement at age 70 with. credit for service rendyrEd prior
to said effective date, if the Public Agyncy elects age 60 ao tho lowest
opt:lanai service retriam.isv. agy, or a minimum allowance of $60 per
nynth upon retirement at agy DE or over with twenty ypors of service,
or usi.on retiremEnt at agm 70 with credit for prior service, if the
Fohlin
7, 7,7 elects age 55 as the lEwest optio77 al. service retirement
Eget,
5. Retirement for dlsability, except in the case of Local Safety
7.. 10 also:bled from injury- arilag cut of and in the course of emslotyG
runt, 18 permitted only. after ten yoars of serantce and uryn proof of
incapacity for the performance of duEy. (See item 10 below.)
6. The monthly retirement allowance payable upon. disability retire-
ent, described in preceding item 5, is dependent upon such factors as
age, spEary and years of service, but 75. is a:foal to 00% of 1E70th,
or 1/hOttl as the case may be, of the averages mT,thly salary daring thE
five ...ars ingvHDin0a)lyyreceding retirement, for each. yyar of serviye,
with a guarEntee of HISS of said. safert, subject to certain restric-
tions arE gbdifications.
Disability retirement of Local Safhty Nbmbers, in. the event of
disability ovIsing out of and in. the course Gf employment, is permitted
regaraless of' age and service, the menthlyrghlreament allowance being
one-half the highest ayeragb monthly salary earnable during any five .
years of membership,
O. The benefit payable at death before retirement exce1 t. in. the case
of Local Safety Members dying from injury arising out of and. in the course
of employment, consists of the contributions of the member plus interest,
and plum 1/ 12th. of. the member's annual. salary during the year immedlately
preceding death, for each year, nbt embeeding nix years, of sermice as
member of the systbm. Upon death after retirement, and. at the election
of the Public Anenby, a benefit of 40.0.00 1 173 7,
9. rhe monthiyaLlowance payable to the widow and children at the
death.. of Local. Safety Members, aribing out of and in the course of employ-
meht, is one-half the average monthly salary during the five years immedm
lately preceding death.
10. IMe tonefit upon separatien from service by other CRAIS8 than death
or retiremont, is labn refund of the member's contributions, kith interest.
Members having accumulated. contributions of at least $500 uppn resigna-
tion or discharge, may elect irrevocably, 'fl'"" days, to leave
contributimns in the Retirement Fund, and then upon. reaohlnn the lowest
optional service retimement age or becoming disabled, to be r'''' 17 to
receive such rbtirement 130 17 as will be provided by tneix and 17
the
Agency,s contributions and their credited. service, regardless of service
rendmred.
11. Contributions requiged of Local Safety Members, without credit for
prior service, depend upon salary and upon age of entry into the Retire-
ment System, the
0,1.0. .,(3 per 3100 of salary varying fgom 157.65 at
entry obe 21, to $14.55 at entry age 15. Contributions (1 Local Safety
Members having credit for prior service depend on salary, entam agb, end
ammunt (1 prior service, the amount of contributione per oo being 0.6.55
for example, et entry with 19 Tbars of nmior service.
12. For other Agency mmplayees, the contributions depend up en. salary,
sex and age of entry into the Retirement '',tera,tbe 1(3)17,. ,ii,. per
M1,00 of salary varying from 1 age $7.99 at age 64, fom
men, and from 5..56 at age 2E, to =17,49.1f5 at age 641 for women, all based
on the Public Agencyls eiebtion of' age 60 as the lowest optionbl. ser-
vice retirement ago. If the Public Xgency elebts anb 55 as the lowest
optional service retirement age, the contributions per $100 of salary
vary from. .RUE, at age 20, to $10.E8 at agb 59, for mbn, and. from M.55
at age 20, to :0.2.al at age 59, for women.
11. The vgency (3 required to contribute the balance of thd funds
necessary to meet the cost of the benefits provided. under the retirement
system for the Agency employees. Thd Agency is also required to 1171 its
proportionate share of the adminIstrative costs of the system.
14. Ability of the Retirement Jstem to dap oeheighb Is safeguarded. by
provision authorizing the Boarh of kdministrntion to revise contribu-
tionb of both employnes and the Agency, in the light of' experl( nme under
the syetem,
NOW, THEREFORE, BE IT RESOLVED, that the City Common
Chw.mrning Bdy-)
of the City of Adbmoda gives, and it does hereby give notice
Mame of PubIT7.77encyd 77
of I./Mention to anprove 9. contract between said City Counbil
(Name of Severning BoSyT
and the Board of APmEnistration of the State Amhloyeesu Retiromunt
System, providing for participatipn of said City of Alameda
77'1hme of Public-TT:77E77m-
in said Retirement System, a copy of said contract being attached. hereto,
marked Exhibit AU, and by reference made a part hereof.
Ciiy Council of
Citv ox Almeda.
By ShIFILEY'H. TENNIER
September 18, 1956 City Clerk
(Date dopted and An1717 b777T
I, the undersigned, Cereby certify that the foregoing Resolution was
duly regularly introduced and adopted by the Council. of the Cityof Alameda
n regular meeting assembled on the ldth day of September, 1956, by the follouing
vote, to wit:
AYES: Councilmen. Haag, Hove, McCall, Moresi and. President
Kranelly, (6).
NOES: Bone.
ABSENT; Nene.
IN WITNESS• WHEREOF, I have hereunto setrey hand and affixed the official
seel of said (city this 19th. day of September, 1966.
SHIRLEY H. TENNIER
(SEAL) Ulty Clerk of the dit(ii of Alcmgda
I hereby certify that the foregoing is a full, true and correct cohy of
"Resolution Ne. 5444, REE0-1)=C11)( RETENTION TO APPROVE CONTRACT' PHOTTRIN9 FOB
PARTICIPATION IN STATE EMPLOY= RETII11INTH SYSTEE", intypdueed. andcedoptcd by
thc Council. on. the leth dcy of SepterCer, 1956.
lty 1,542x-f7t tte;Stii:,;1-'g4;7IliaJmedA