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Home My WebLink AboutReso 86-2002RESOLUTION 86-2002 CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA A RESOLUTION APPROVING AN AMENDMENT TO THE CONTRACT BETWEEN THE BOARD OF ADMINISTRATION CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE CITY OF SOUTH SAN FRANCISCO 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 safety members. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of South San Francisco that the City Council hereby approves an amendment to the contract between the City of South San Francisco and the Board of Administration of the Public Employees' Retirement System, hereby attached as Exhibit A. BE IT, FURTHER RESOLVED that the City Manager is hereby authorized to execute the agreement on behalf of the City of South San Francisco. I hereby certify that the foregoing Resolution was regularly introduced and ad.ot~oted by the City Council of the City of South San Francisco at a regular meeting held on the 25t day of September 2002 by the following vote: AYE S: NOES: ABSTAIN: ABSENT: Councilmembers Joseph A. Femekes and Karyl Matsumoto, Mayor Pro Tem Pedro Gonzalez and Mayor Eugene R. Mullin None. None. Councilmember Raymond L. Green ATTEST: City Clerk Ca]P RS EXHIBIT A California Public Employees' Retirement System AMENDMENT TO CONTRACT Between ~he Board of Administration California Public Employee¢ Retirement System and the Ci~ Council City of South San Francisco 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 September 1, 1945, and witnessed September 12, 1945, and as amended effective September 1, 1949, December 1, 1953, January 1, 1960, January 1, 1963, February 1, 1967, January 1, 1968, January 1, 1969, November 1, 1973, April 19, 1974, January 21, 1977, November 11, 1977, December 19, 1980, August 23, 1985, January 23, 1987, December 22, 1989, January 1, 1992, October 9, 1993, April 23, 1994, June 13, 1996 and May 11, 2001 which provides for participation of Public Agency in said System, Board and Public Agency hereby agree as follows: Ao Paragraphs 1 through 12 are hereby stricken from said contract as executed effective May 11, 2001, and hereby replaced by the following paragraphs numbered I through 12 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. o PLEASE DO NOT SIGN "EXHIBIT v" Public Agency shall participate in the Public Employees' Retirement System from and after September 1, 1945 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. 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); Employees other than local safety members (herein referred to as local miscellaneous members). 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: PERSONS WHO ARE COMPENSATED ON AN HOURLY BASIS WHO ARE EMPLOYED JANUARY 1, 1963 OR AFTER. 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 subject to the 'reduCtion provided therein for Federal Social Security (2% at age 55 Modified and Full). 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). Public Agency elected and elects to be subject to the following, optional provisions: ao Section 21571 (Basic Level of 1959 Survivor Benefits) for local miscellaneous members only. b. Section 21222.1 (One-Time 5% Increase - 1970). Legislation repealed said Section effective January 1, 1980. c. Sections 21624 and 21626 (Post-Retirement Survivor Allowance). 10. 11. Section 21024 (Military Service Credit as Public Service), Statutes of 1976. e. Section 20042 (One-Year Final Compensation). Section 21573 (Third Level of 1959 Survivor Benefits) for local safety members only. g. Section 20965 (Credit for Unused Sick Leave). Public Agency, in accordance with Government Code Section 20790, ceased to be an "employer" for purposes of Section 20834 effective on November 11, 1977. Accumulated contributions of Public Agency shall be fixed and determined as provided in Government Code Section 20834, and accumulated contributions thereafter shall be held by the Board as provided in Government Code Section 20834. 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. Public Agency shall also contribute to said Retirement System as follows: 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 safety members. 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. 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. 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. 12. 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 remif[ances. 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 effe~ on the ~ day of ~,,., PUBLIC EMPLOYEES R~MENT SYSTEM CITY OF SOUTH SAN ~I-~-~NCISCO KENNETH ~W~.~ION, CHIEF ACTUARIfi, K&~"MPLOYER SERVICES DIVISION PUBLIC-EMPLOYEES' RETIREMENT SYSTEM BY PRESIDING OFFI.~R Witness D a~,~,.~,k''~'~~ Attest: '~"~ Clerk AMENDMENT ER# 0093 PERS-CON-702A (Rev, 8\02) CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM Actuarial and Employer Services Division Public Agency Contract Services P.O. Box 942709 Sacramento, CA 94229-2709 (916) 326-3420 CERTIFICATION OF GOVERNING BODY'S ACTION I hereby certify that the foregoing is a true and correct copy of a Resolution adopted by the of the (governing body) CFi (date) (public agency) Clerk/Secretary Title PERS-CON-12 (rev. 1/86) CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM Actuarial and Employer Services Division Public Agency Contract Services P.O. Box 942709 Sacramento, CA 94229-2709 (916) 326-3420 CERTIFICATION OF COMPLIANCE WITH GOVERNMENT CODE SECTION 7507 i hereby certify that in accordance with Section 7507 of the Government Code the future annual costs as, determined by the System Actuary and/or the increase in retirement benefit(s) have been made public at a public meeting of the of the (governing body) on (date) Resolution / Ordinance. (public agency) which is at least two weeks prior to the adoption of the Clerk/Secretary Title Date PERS-CON-12A (rev. 1/96)