2000-07 RESOLUTION 2000-07
RESOLUTION OF INTENTION
TO APPROVE AN AMENDMENT TO CONTRACT
BETWEEN THE
BOARD OF ADMINISTRATION
CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM
r
AND THE
CITY COUNCIL
CITY OF GRAND TERRACE
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 21354 (2% @ 55 Full formula) for local
miscellaneous members
NOW, THEREFORE, BE IT RESOLVED that the governing body of the above agency
does hereby give notice of intention to approve an amendment to the
contract between said public agency and the Board of Administration of the
Public Employees' Retirement System, a copy of said amendment being
attached hereto, as an "Exhibit" and by this reference made a part hereof .-
By:
Presiding Officer Byron R. Matteson
Mayor, City of Grand Terrace
Title
. March 23, 2000
Date adopted and approved
(Amendment)
- CON-302(Rev.4/96)
c
Ca1PERS
EXHIBIT
California
Public Employees' Retirement System
AMENDME, NT TOCONTRACT
Between the
Board of Administration
California Public ]Employees' Retnreme nt System
and the
City Council
City of Grand Terrace
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 January 20, 1990, and
witnessed December 14, 1989, and as.amended effective October 23, 1995 which provides
for participation of Public Agency in said System, Board and Public Agency hereby agree as
follows:
A. Paragraphs 1 through 11 are hereby stricken from said contract as executed effective
October 23, 1995, and hereby replaced by the following paragraphs numbered 1_
through 11 inclusive:
1. 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.
2. Public Agency shall participate in the Public Employees' Retirement System
from and after January 20, 1990 making its employees as he 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.
PLEASET. ®O NOT SVp P7 as e,I a f-s1�a 1'
3. 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. Employees other than local safety members (herein referred to as local
miscellaneous members).
4. 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:
a. SAFETY EMPLOYEES; AND
b. ELECTED OFFICIALS
5. Assets heretofore accumulated with respect to members in the local retirement
system have been transferred to the Public Employees' Retirement System and
applied against the liability for prior service incurred thereunder. That portion of
the assets so transferred which represent the accumulated contributions (plus
interest thereof) required of the employees under said local system has been
credited to the individual membership account. of each such employee under
the Public Employees' Retirement System.
6. 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 (2% at age 55 Full).
7. Public Agency elected and elects to be subject to the following optional
provisions:
a. Section 20938 (Limit Prior Service to Members Employed on Contract
Date).
b. Section 21536, (Local System Service Credit Included in Basic Death
Benefit).
C. Section 21573 (Third Level of 1959 Survivor Benefits).
8. 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 of said Retirement System.
9. Public Agency shall also contribute to said.Retirement System as follows:
a. 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 miscellaneous members.
ry
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b. 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.
C. 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.
10. 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.
11. 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
remittances. 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 effective on the day of ,
BOARD OF ADMINISTRATIO,�Na° CITY COUNCIL
PUBLIC EMPLOYEES' RET1 MENT SYSTEM CITY OF GRAND TERFb C.
`ate'
BY BY A.
KENNETH W. MARZ ' , CHIEF O PRESIDING OFf ER
ACTUARIAL & EMPt YER SERVICES DIVISION Z
PUBLIC EMPLOY*' RETIREMENT SYSTEM
Witness We e
Attest:
Clerk
AMENDMENT
PERS-CON-702A(Rev.8\96)
CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM
Actuarial and Employer Services Division
Public Agency Contract Services
P.O. Boz 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
City Council ofthe
(governing body)
City of Grand Terrace
(public agency)
on March 23, 2000
(date)
Clerk/Secretary Brend Stanfill
City Clerk
Title
PERS-CON-12(rev.'1/96)
Resolution 2000-07
I,BRENDA STANFILL,CITY CLERK of the City of Grand Terrace,do hereby certify that
the foregoing Resolution was introduced and adopted at a regular meeting of the City Council of the
City of Grand Terrace held on the 13`''day of March, 2000 by the following vote:
AYES: Councilmembers Hilkey, Garcia, and Larkin; Mayor Pro Tem
Buchanan and Mayor Matteson
NOES: None
ABSENT: None
ABSTAIN: None
City Clerk
Approved as to form:
AR---
City Attorney