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Home My WebLink AboutResolution 1999-024 RESOLUTION No. 1999-024 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 ATASCADERO 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 21354 (2% @ 55 Full Formula)for local miscellaneous 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 said amendment being attached hereto, as an "Exhibit" an is ere ce made a part hereof. Pr idin Offi er MAYOR Title 04/27/99 Date adopted and approved (Amendment) CON-302(Rev.4/96) CaIPERS EXHIBIT . .. California Public Employees' Retirement System AMENDMENT TO CONTRACT, Between the Board of Administration California, Public Employees' Retirement System and the City Council City of Atascadero 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 April 19, 1980, and witnessed March 19, 1980, and.as amended effective July 1, 1980, April 30, 1983, January 7, 1984, July 14, 1990, November 9, 1991, April 12, 1992, August 29, 1992, and December 26, 1997 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 December 26, 1997, 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 55 for local miscellaneous members and age 50 for local safety members. 2. Public Agency shall participate in the. Public Employees' Retirement System from and after April 19, 1980 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 D4 NOT 511 "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 l=ire 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: NO ADDITIONAL EXCLUSIONS 5. This contract shall be a continuation of the benefits of the contract of the Atascadero Fire Protection District, hereinafter referred to as "Former Agency", pursuant to Section 20567.2 of the Government Code, Former Agency having ceased to exist and having been required by law to be succeeded by Public Agency on July- 1, 1980. Public Agency, by this contract, assumes the accumulated contributions and assets derived therefrom and liability for prior and current service under Former Agency's . contract with respect to the Former Agency's employees. Legislation repealed said Section effective January 1, 1988. 6. The percentage of final compensation to be provided for each year of credited prior and current service as a local miscellaneous member shall be determined in accordance with Section 21354 of said Retirement Law (2% at age 55 Full). 7. 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 of said Retirement Law (2% at age 50 Full). 8. 'Public Agency elected and elects to be subject to the following.optional provisions: a. Section 21574 (Fourth Level of 1959 Survivor Benefits) for local safety members only. b. Sections 21624, 21626 and 21628 (Post-Retirement, Survivor Allowance) for local miscellaneous members only. PLEASE DO NOT SIGN "EXHIBIT ONLY C. Section 21024 (Military Service Credit as Public Service), Statutes of 1976. d. Section 20903 (Two-Years Additional Service Credit)' Statutes of 1976. Legislation repealed said Section effective`January 1, 1979. 9. Public Agency, in accordance with Government Code Section 20834, shall not be considered an "employer" for purposes of the Public Employees' Retirement Law. " Contributions of the Public Agency shall be fixed and determined as provided in Government Code Section 20834, and such contributions hereafter made.shall be held by the Board as provided in . Government Code Section 20834. 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 21574 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 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 oras 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 Qffective on the day.of , 19 BOARD OF ADMINISTRATION CITY OF COUNCIL PUBLIC EMPLOYEES' REMENT SYSTEM OF THE. CITY OF ATASCADERO Al BY � BY KENNETH W.ORZION, CHIEF PRESIDING OFFICE - ACTUARIA MPLOYER SERVICES DIVISION PUBLIC E OYEES' RETIREMENT SYSTEM SO� Witness Date 00 Attest: Clerk AMENDMENT PERS-CON-702A(Rev.8\96)