HomeMy WebLinkAboutResolution No. 3958RESOLUTION NO.
RESOLUTION OF INTENTION TO APPROVE AN
AMENDMENT TO C014TRACT BEI%IHN THE
BOARD OF ADFIINISTRATION OF THE
STATE EMPLOYEESI RETIREMENT SYSTEM AID) THE
CITY COUNCIL
OF THE
CITY OF AZUSA
vn EREASI the State Employees' Retirement Law permits the participation of public
agencies and their employees in the State 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
1,1HEREAS, one step in said procedure is the adoption by the legislative body of
the public agency of a resolution giving notice of the intention to ap-
prove an amendment to said contract, which resolution shall contain a
summary of the changes proposed in said contract; and
WHEREAS, the following is a summary of the proposed change.
1. Monthly retirement allowances being paid on the effective date of
this amendment to persons (or their beneficiaries) who retired with
credit for 20 or more years of service to this District and whose
allowances were based on a five year final compensation shall be
increased for time beginning with the effective date of this
amendment in accordance with the following schedules
Date of Retirement Amount of Increase
June 30, 1951 or earlier _ $25.00
Julyl, 1951 through June 30, 1952 20.00
July 1, 1952 to amendment date 15.00
If retirement occurred within the above specified dates and credited
service was less than 20 years, the increase shall be in the same
proportion to the above specified amount as the years of credited
service bear to twenty. Increases granted under this paragraph shall
be in addition to any prior increases.
2. Retirement allowances payable for time commencing on the effective
date of this amendment to or on account of any member who retired
on or prior to July 12 1956, are hereby increased by $10.00 a month
plus a percentage varying according to date of retirement and years
of service to a maximum of 5%.
NOH, THEREFORE, BE IT RESOLVED, That the CITY COU14CIL of the CITY OF AZUSA 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 State Employees' Retirement System, a copy of said amendment being
attached horeto, marked Exhibit "A" and by this reference made a part
hereof.
CITY COUNCIL
OF THE
CITY OF AZUSA
Name Louis G,emme� sheimer
Mayor
October 27, 1959
Date adopted and approved
I hereby certify that the foregoing resolution was duly and regularly
adopted by the City Council of the City of Azusa at a regular adjourned
meeting of said Council of said City held in the regular council chambers
of said City Council in said City October 27, 1959 by the following vote
of the Council:
AYES: Councilmen: Paul, Johnson, Teasley, Memmesheimer
NOES: Councilmen: None
ABSENT: Councilmen: Ortuno
City Clerk, ty o z