HomeMy WebLinkAboutReso 4-1974RESOLUTI ON NO. 4-74
CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO,STATE OF CALIFORNIA
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.
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 con-
tract, 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 required 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 coniC, which resolution shall contain
a summary of the changes proposed in said contract; and
WHEREAS, the following is a summary of the proposed
change:
Provides, upon the death of a miscellaneous
member or local fireman who retired for service
or disability, for the continuation of a post-
retirement survivor allowance to certain surviv-
ors.
NOW, THEREFORE BE IT RESOLVED, that the City Council
of the City of South San Francisco gives, and it does hereby give
notice of intention to approve an amendment to contract between
said City Council and the Board of Administration of the Public
Employees' Retirement System, a copy of said amendment being attach-
ed hereto, marked "Exhibit A" and by this reference made a part
hereof.
I hereby certify that the foregoing Resolution was
regularly introduced and adopted hy the City Council of
the City of South San Francisco at a
meeting held on the 2~st day of
19 74 , by the following vote:
AYES, COUNCILMEN
NOES, "
ABSENT, "
~.egu I a r
January
Patrlck E. Ahern, Will lam A, Borba,
Term/ J. Nlrr[ and Warren Stelnkaip
None
F. Frank Nammlnl
ATTEST:
~?~~. EXHIBIT A
",. ~IO ~LO~S' ~TI~~T SYS~N
~'~.'",,.~ % ~D ~
co cn
OF ~
The ~ard of Adm~nistration~ ~blic ~ployees' Re~rement 'System, herein~ter
refe~ed to as ~d ~d the CITY CO~CIL of ~e CITY OP SOU~ S~ ~CISCO,
hereinafter referred ~ as ~blic Agency, ~~ entered into a contract ~der
~te of September 12, 1945, effective September l, 1945, ~d as ~ended effective
September l, 1949, December l, 1953, J~u~ l, 1960, J~ua~ l, 1963, Feb~a~ l,
1967, J~~ l, 1968, J~u~ l, 1969, m~d November l, 1973, ~d as p~ded by
C~pters 170 ~d 316, Sta~tes of 1971, w~ch p~de for participa~on of ~blic
Agency ~ ~d System, ~d ~d ~blic Agency hereby ~ree as follows:
A. The following sub-paragraph shall be added to Paragraph 5:
e. Section 21263 (providing upon the death of a miscellaneous member,
or local fireman who retired for service or disability for the
continuation of a post-retirement survivor allowance to certain
survivors).
B. Paragraphs 6 (a) and 6 (b) shall be stricken 'from said contract and the
following paragraphs substitUted therefor:
6. Public Agency shall contribute to said Retirement System as follows:
a. With respect to miscellaneous members, the agency shall contri-
bute the following percentages of 'monthly salaries earned as
miscellaneous members of said System:
(1) 0.32 percent until June 30, 1980 on account of the liability
for prior service benefits.
(2) 8.71 percent on account of the liability for current service
benefits.
·
(3) O.11 percent ,mtil October 31, 1983 to provide the benefits
under Section 21222.1 of the Government Code. ·
·
b. With respect to local safety members, the public agency slmll
contribute the following percentages-of monthly salaries earned
as local safety members of said System:
(1) 0.181 percent until June 30, 2000 on account of the liability'
for prior service benefits.
Ret. Form 702-1
~ Illl '~l'll
(2) 11.616 percent on account of the liability for current service
bene fi ts.
(3) .0.15 percent until'October 31, 1983 to provide the benefits
under Section 21222.1 of the Government Code.
(4) "0.097 percent on account of the liability for the 1959-
Survivor program.
C. This amendment shall be attached-te said contract and shall become effec-
tive on the day of .
Witness our hands this
day of
BOARD O~ ADMINISTRATION
PUBLIC EMPLOYEES! RETIREMENT SYSTEM
BY
William'E. Payne, Executive Officer
CITY COUNCIL
O~ THE
CITY O~ SOUTH SAN FRANCISCO
A .t%est:
Clerk
Ret. Form 702-2