HomeMy WebLinkAboutReso 6072-1973RESOLUTION NO. 6072
CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
A 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 SOUTH SAN
FRANCISCO, A MUNICIPAL CORPORATION.
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 procedure to amend this
contract is the adoption by the legislative 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 changes proposed in said contract; and
WHEREAS, the following is a statement of the proposed
chan ge:
Retirement allowances to which the annual cost-of-living
provisions apply, payable for time commencing on the first
day of the calendar month coinciding with or next following
the effective date of this amendment to or on account of
persons retired or members deceased on or prior to December
81, 1970, are hereby increased by 5%.
WHEREAS, the estimate of the cost of such change for
the public agency is set forth in a copy of the valuation
report attached hereto, marked "Exhibit A" and by this ref-
erence incorporated into the amendment as though therein set
out in full;
NOW, THEREFORE, BE IT RESOLVED that the City Council of
the City of South San Francisco, a municipal corporation,
l,
~ves, and it hereby gives notice of intention to approve an
amendment to the contract between the City Council and the
Board of Administration of the Public Employees' Retirement
System to accomplish the above change.
CITY COUNCIL of the
CITY OF SOUTH SAN FRANCISCO,
a municipal corporation
Warren Steinkamp
May 7, 1973
(Date adopted and approved)
Mayor pro tern
(Title)
the City of South San Francisco at a
meeting held on the 7th day of
19 75 , by the following vote:
AYES, COUNCILMEN
I hereby certify that the foregoing Resolution was
regularly introduced and adopted by the City Council of
regul ar
NOES, "
ABSENT, "
May
Patrick E. Ahern, William A. Borba,
F. Frank Mammini and Warren Steinkamp
None
None
·
RESOLUTION NO. 6072
ACTUARIAL VALUATION TO DETERHINF. COSTS
tr~ER SB 135, CHAPTER li13 (1972)
' (51 Increase)
City o£ So. San Brancisco
,
93
DATE: F2BgUARY 9, 1973
to persons re~tred or aeab~rs deceased prior t~ January I, 1971s
::
19676 .35~ .21I
25210 .49I .291 .151
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