HomeMy WebLinkAboutReso 106-2002RESOLUTION NO. 106-2002
CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
A RESOLUTION ADOPTING THE PARS RETIREMENT ENHANCEMENT
PI ,AN FOR THF, CITy MANAGF, R
WHEREAS, the City is a member of the Public Agency Retirement System (PARS) for
the purpose of providing tax qualified retirement benefits; and
WHEREAS, it is to be determined to be in the best interest of the City and its employees
to provide a Retirement Enhancement Program to eligible employees; and
WHEREAS, the PARS Trust has made available a Retirement Enhancement Plan
supplementing CalPERS and qualifying under the relevant sections of the Internal Revenue Code
and the California Government Code.
NOW, THEREFORE, be it resolved that:
l,
The City Council, being a member of the PARS Trust, does hereby adopt the
PARS Retirement Enhancement Plan, as part of the City Retirement Program,
effective December 11, 2002; and
,
The City Council hereby appoints the Director of Human Resources, or his/her
successor or his/her designee, as the City's Plan Administrator for the Public
Agency Retirement System; and
o
The City's PARS Administrator is hereby authorized to execute the PARS legal
and administrative service documents, including the Agreement for
Administrative Services, on behalf of the City to implement a PARS supplement
plan to CalPERS and to take whatever additional actions are necessary to
maintain the City's participation in PARS and to maintain PARS compliance of
any relevant regulation issued or as may be issued; therefore, authorizing him/her
to take whatever additional actions are required to administer the City's PARS
plan(s).
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In addition, if the City's PARS Administrator finds that the PARS supplemental
plan benefit must be limited under Section 415 of Internal Revenue Code, then the
Plan Administrator will implement replacement benefit programs at no additional
cost to the City.
I hereby certify that the foregoing Resolution was regularly introduced and adothPted by
the City Council of the City of South San Francisco at a regular meeting held on the 11t day of
December 2002 by the following vote:
AYES:
Councilmembers Joseph A. Femekes and Raymond L. Green,
Mayor Pro Tem Karyl Matsumoto and Mayor Pedro Gonzalez
NOES: None.
ABSTAIN: None.
ABSENT: None.
ATTEST:
City Clerk