HomeMy WebLinkAboutReso 1034-1945NO, ~03~
RESOLUTION OF II~ENTION TO APPROVE COETRACT PROVIDING FOR
PARTICIPATION IN STATE E~PLOYEESt RETIE~''~g~T SYSTEM
W~EREA~, the State Employees' Retir~e~ent Act penuits the participation of muni-
cipal co~porations in the State Employees".Retirement System, making their employees
members of said System, and sets ~orth the p~ocedure by which participation may be
accomplished; and
WHEREAS, one step in said procedure is the adoption by the legislative body of
the municipal co~poration, of a resolution giving notice of intention to approve a
contract between said legislative body and the Board of Administration of said Retire-
ment System, priding for said participation, which said resolution shall contain a
summary of the major provisions of the proposed retirement system; and
WHEREAS, the following is a summary of the major provisions of the p~oposed
retirement system;
1. The System is administered by a board of eight memebers, composed of haree
members of the System, an official of a bank, an official of an insurance company, the
Director of Finance, a member of the State Personnel Board, and an official of the Un~
sity of California.
2. Retirement for service is optional upon attainment of an age which shall
be not less than 55 or more than 80, and provided in said contract, by city firemen an~
city policemen, and age 80 by other employees, and completion of twenty years of
service for the municipal corporation, and is compulsory at age 65 for city firemen
and city policemen, and at age 70 for other employees.
3. The monthly retirement allowance payable upon retirement for service is dependent
upon such factors as age, sex, salary and years of service. For city firemen and city
policemen, retiring at the optional age in paragraph 2, or at a high, er age wich twenty
years of service, the monthly allowance is approximately one-half of the average month.
ly salary during the five years immediately preceeding retirememf~; For other cit~y
employees, the monthly allowance, upon retirement at age 65, is approximately 1/70th
of the average monthly salary during the five years immediately preceding retirement,
for each year of service after the effective date of participation, plus approximately
1/70th, or less as may be provided in said contract by the municipal corporation for i~
empliyees, fo the average monthly salary during the three years immedately preceding
the effective date of participation, for each year of service prior to that datee
4. Retirement for disability, except in the case of city firemen and city policemen
disabled from injury arising out of and in the course of employment, is permitted only
after ten years of s~rvice and upon proof of incapacity for the performance of duty.
~e The monthly retirement allowance payable upon dimbility retirement, described in
preceding item 4, is dependent upon such factors as agre, salary and years of service,
but generally is equal to 90% of 1/70th of the average monthly salary during the five
years immediately preceding retirement, for each year of service, wit~ a guarantee
of ~5% of said s~lary, subject to certain restrictions and modifications.
6. Disability retirement of city firemen and city policemen, in the event of dis-
ability arising out of and in the course of employment, is permitted regardless of
age and service, the monthly retirement allowance being one-half the average monthly
salary during the five years immediately preceding retirement.
7. The benefit payable at death, except in the case of city firemen and city police-
ment dying from injury arising out of and in the course of employment, consists of
the contributions of the member plus interest, and plus 1/12th of the member's annual
salary during the year immediately preceding death, for each year, not exceeding six
years, of service as a member of the system.
8. The monthly allowance payable to the widow and children, at the death of city fire.
men and city policemen arising out of and in the course of employment, os one-nalf the
average monthly salary during the five years immediately preceding death.
9. ~he benefit upon separation from service by other cause than death or retirement,
is the refund of the member's controbutions, with interest.
10. Contributions required of city firemen and city policemen, without credit for
prior service, dempend upon salary and upon age of entry into the ~etiz~ment system,
the contributions per $100 of salary varying from ~5.40 at entry age 21, to $9.$B at
sntry age ~, for example, if the minimum service retirement age is 60, or $~.83 and
~14.3§, if the mimimum age is 55. Contributions of firemen and policemen having
credit for ~rior service depend on salary, entry age and amount of prior servi~e,
the amount of contribution per $100 being ~1~.79 for example, at entry age ~59, with
19 years of prior service, if the minimum service retirement age is 60~ and
at age ~, with 19 years of prior service, if the m~n~mum service retirement age is
1.. For other city employees, the contributions dep end upon salary, sex, and age of
entry into the retirement system, the contributions per $100 of salary varying from
$4.83 at age 20, to ~7.45 at age 64, for men, and from $5.85 at age 20, to ~8.50
at age 64, for women.
12. The city is required to contribute the balance of the funds necessary to meet
the cost of the benefits provided under the retirment system for the city's employees.
The city also is required to pay its proportionate share of the administrative costs o
the system.
12. Ability of the Retirement System to pay benefits is safeguarded by a provision
authorizing the Board of Administration to revise contributions of both employees
and the city, in the light of experience under the system. Now, therefore,
BE IT RE$0LVEU0, that the city Council of the City of South San Francisco,
give, and ~oes hereby ~zive notice of intention to approve a contract between said City
Council and the Board of Administration of the State Employees' Retirement System,
providing for the participation of said City of South San Francisco in said Retirement
System, a copy of said contract being attached hereto, marked "Exhibit A", and by
reference made a part hereof.
I hereby certify that the foregoing resolution was regularly introduced and adopted
by the city council of the city of South San Francisco this $oth day of July, 19~5,
by the following vote:
Ayes, Councilmen Victor Boido, Charles K. Elder, C~-eorge W. Holston, ~. ~inucciani
Noes, Counci linen None
Absent, Councilmen Ivan ~. Hays
Attest: Daniel ~cSweeney
(Seal)~ City Clerk