1989-22 RESOLUTION NO. 89- 22
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF GRAND TERRACE , CALIFORNIA, OF INTENTION TO
APPROVE A CONTRACT BETWEEN THE BOARD OF
ADMINISTRATION OF THE PUBLIC EMPLOYEES '
RETIREMENT SYSTEM AND THE CITY COUNCIL OF THE
CITY OF GRAND TERRACE .
WHEREAS , the Public Employees ' Retirement Law permits
the participation of public agencies in the Public Employees '
Retirement System , making their employees members of said System ,
and sets forth the procedure by which participation may be
accomplished ; and
WHEREAS, one of the steps required in the procedure is
the adoption by the Governing Body of the Public Agency of a
resolution giving notice of intention to approve a contract for
such participation between said Governing Body and the Retirement
System Board of Administration , which resolution shall contain a
summary of the major provisions of the proposed retirement plan ;
and
WHEREAS , attached is a summary of the major provisions
of the proposed plan ;
r NOW, THEREFORE , BE IT RESOLVED , that the Governing Body
J of the above agency gives , and it does hereby give notice of
intention to approve a contract between said Governing Body and
the Board of Administration of the Public Employees ' Retirement
System , providing for participation of said agency in said
Retirement System, a copy of said contract and a copy of the
summary of the major provisions of the proposed plan being
attached hereto , as an "Exhibit" , and by this reference made a
part hereof.
ADOPTED this 19th day of October , 1989.
ATTEST:
C ' y' Clerk ?nd
e City of M for of the C ty of Grand
rand Je-rrace of the T race and of the City
City Council thereof. Council thereof.
RESOLUTION NO. 89- 22
PAGE 2
I , JUANITA BROWN, 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 19th day of October ,
1989, by the following vote :
AYES : Councilmembers Pfennighausen , Singley , Carlstrom ,
Mayor Pro Tem Grant ; Mayor Matteson
NOES : None
ABSENT: None
ABSTAIN: None
C y Clerk "
Approved as to form:
City Attorney
* * * C O P Y
CONTRACT
BETWEEN THE
�, <<s•:;%' BOARD OF ADMINISTRATION
\-Au PUBLIC EMPLOYEES' RETIREMENT SYSTEM
t
AND THE
CITY COUNCIL
` OF THE
CITY OF GRAND TERRACE
In consideration of the covenants and agreement hereafter contained and on the
part of both parties to be kept and performed, the governing body of above
public agency, hereafter referred to as "Public Agency" , and the Board of
Administration, Public Employees ' Retirement System, hereafter referred to as
"Board" , hereby agree as follows:
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 60 for local miscellaneous members.
2 . Public Agency shall participate in the Public Employees ' Retirement
System from and after 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.
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 shall be transferred to the Public Employees '
Retirement System upon the effective date of this contract and applied
against the liability for prior service incurred hereunder. That
portion of the assets so transferred which represent the accumulated
contributions (plus interest thereupon) required of the employees
under said local system shall be credited to the individual membership
account of each such employee under the Public Employees ' Retirement
System.
EXHIBIT
* * * C O P Y
6. The fraction 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 21251.13 of said
Retirement Law (2% at age 60 Full) .
7. The following additional provisions of the Public Employees '
Retirement Law, which apply only upon election of a contracting
agency, shall apply to the Public Agency and its employees:
a. Section 20835.1 (Limit Prior Service Credit to Members Employed
on Contract Date) .
b. Section 21361.5 (Local System Service Credit) .
8. Public Agency shall contribute to said Retirement System as follows:
a. With respect to local miscellaneous members, the agency shall
contribute the following percentages of salaries earned as
members of said Retirement System:
(1) 1.303 percent until June 30, 2014 on account of the
liability for prior service benefits. (Subject to annual
change. )
(2 ) 4. 556 percent until June 30, 2019 on account of the
liability for current service benefits. (Subject to annual
change. )
.; b. A reasonable amount, as fixed by the Board, payable in one in-
stallment within 60 days of date of contract to cover the costs
;L of administering said System as it affects the employees of
Public Agency, not including the costs of special valuations or
f y"j
of the periodic investigation and valuations required by law.
jC. A reasonable amount, as fixed by the Board, payable in one in-
stallment as the occasions arise, to cover the costs of special
G�
valuations on account of employees of Public Agency, and costs of
the periodic investigation and valuations required by law.
9. 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.
* * * C O P Y
i
10. 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.
BOARD OF ADMINISTRATION CITY COUNCIL
PUBLIC EMPLOYEES' RETIREMENT SI�TEM OF THE
CITY OF GRAND TERRACE
BY BY
CHIEF, CONTRACT 'ERVICES DIVISION Presiding Officer
PUBLIC EMPLOYEF,;S '-'RETIREMENT SYSTEM
41
Witness Date
�J
c, Attest. i
t
A
Clerk
. PERS—CON-702 (NEW AGENCY)
(Rev. 6/88)