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Home My WebLink AboutResolution No. 7472E RESOLUTION NO. 7472 F 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 AZUSA WHEREAS, the Public Employees' Retirement Law permits the partici- pation 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 them- selves and their employees to amendments to said law; and WHEREAS, one of the steps in the procedure 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 2% at 55 Full formula (from 1/2 @ 55 Full formula) and Section 20024.2 (one-year final compensation), both for local police members only. 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 the said governing body 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. ADOPTED AND APPROVED THIS 16th day of April 1984. I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the City Council of the City of Azusa at a regular meeting hereof held on the 16th day of April,1984, by the following vote of Council: AYES: COUNCILMEMBERS: CRUZ, COOK, CAMARENA, LATTA, MOSES NOES: COUNCILMEMBERS: NONE COUNCILMEMBERS: NONE 41 AMENDMENT TO CONTRACT BETWEEN THE �.k- BOARD OF ADMINISTRATION OF THE PUBLIC EMPLOYEES' RETIREMENT-SYSk AND THE O CITY COUNCIL 0 OF THE CITY OF AZUSA Qom. The Board of Administration, Public Employees' Retirement System, herein— after referred to as Board, and the governing body of above public agency, here— inafter referred to as Public Agency, having entered into a gontract effective January. 1, 1949, and witnessed December 20, 1948, and as amended effective July 1, 1956, September 1, 1958, March 2, 1959, May 1, 1960, September 3, 1967, December 22, 1968, July 15, 1973, April 20, 1975 and January 18, 1961, which provides for participation of Public Agency in said System, Board and Public Agency hereby agree as follows: A. Paragraphs 1 through 10 are hereby stricken from said contract as executed effective January 18, 1981, and hereby replaced by the following paragraphs numbered 1 through 13 inclusive: 1. All words and terms used herein which are defined in the Public Employ— ees' Retirement Law shall have the meaning as defined therein unless otherwise specifically provided. "Normal retirement age" shall mean age 60 for local miscellaneous members and age 55 for local safety members. 2. Public Agency shall participate in the Public Employees' Retirement System from and after January 1, 1949 making its employees as herein— after 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 contract— ing agency. 3. Employees of Public Agency in the following classes shall become mem— bers of said Retirement System except such in each such class as are excluded by law or this agreement: a. Local Fire Fighters (herein referred to as local safety members); b. Local Police Officers (herein referred to as local safety members); C. Employees other than local safety members (herein referred to as local miscellaneous members). 4. In addition to the classes of employees excluded from m bership by said Retirement Law, the following classes of employee=all not become members of said Retirement System: 0� NO ADDITIONAL EXCLUSIONS 4c_� 5. Prior to January 1, 1975, those members who were' red by Public Agency on a temporary and/or seasonal basis not•-;�o exceed 6 months were excluded from PERS membership by contrac�V Government Code Section 20336 supersedes this contract provi iii by providing that any such temporary and/or seasonal employees ar xcluded from PERS member— ship subsequent to January 1, 1975. 6. The fraction of final compensation to b 0 vided for local miscel— laneous members for each year of credi prior and current service shall be that provided in Section 212 13, subject,to the reduction provided therein for service on or ai`�er January 1, 1956 and prior to March 31, 1975 for members whose service has been included in Federal Social Security (21, @ 60 Full and Modified). 7. The fraction of final compensation to be provided for each year of credited prior and current service as a local fire member shall be determined in accordance with Section 21252.1 of said Retirement Law (One—half pay at age 55 Full). 8. The fraction of final compensation to be provided for each year of credited prior and current service for local police members who elect within 90 days of the effective date of this amendment to contract to continue under the provisions of Section 21252.1 shall be determined in accordance with Section 21252.1 of said Retirement Law (One—half pay at age 55 Full). 9. The fraction of final compensation to be provided for each year of credited prior and current service for those local police members who do not elect within 90 days of the effective date of this amendment to contract to continue under the provisions of Section 21252.1 shall be determined in accordance with Section 21252.6 of said Retirement Law (2x at age 55 Full). 10. The following additional provisions of the Public Employees' Retire— ment Law, which apply only upon election of a contracting agency, shall apply to the Public Agency and its employees: a. Sections 21263/21263.1 (Post—retirement survivor allowance). b. Sections 21380-21387 (1959 Survivors Program) excluding Section 21382.2 (Increased 1959 Survivors benefits), for local miscellaneous members only. C. Section 20024.2 (One—year final compensation), for local police members only. 11. Public Agency shall contribute to said Retirement System as follows: a. With respect to local miscellaneous members, the agency4s11 contribute the following percentages of monthly salar earned as local miscellaneous members of said Retirement Sy,. (1) 0.285 percent until June 30, 2000 on account he liability for prior service ¢enefits. (Subj to annual mhange.) (2) 14.645 percent until June 30, 2000 on acQQEtU�tnt of the liability for current service benefits. O�fSubject to annual change.) b. With respect to local safety members, thg ggency shall contribute the following percentages of monthly sale~fies earned as local safety members of said Retirement Syst2_: (1) 0.022 percent until June 30, 2000 on account of the liability for prior service benefits. (Subject to annual change.) (2) 21.924 percent until June 30, 2000 on account of the liability for current service benefits. (Subject to annual change.) C. A reasonable amount, as fixed by the Board, payable in one in— stallment 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. d. A reasonable amount, as fixed by the Board, payable in one in— stallment 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. 12. 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 val— uation required by said Retirement Law. 13. Contributions required of Public Agency and its employees shall be paid by Public Agency to the Retirement System within thirty 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 cor— rect amount of contributions is•paid for any period, proper adjustment shall be made in connection with subsequent remittances, or adjust— ments on account of errors in contributions required of any employee may be made by direct cash payments between the employee and the Board. Payments by Public Agency to Board may be made in the form of warrants, bank checks, bank drafts, certified checks, money orders or cash. 0 B. This amendment shall be attached to said contract and shall be effective on the day of 19—. Witness our hands the day of �� 19 BOARD OF ADMINISTRATION CITY COUNCIL PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF THE CITY OF AZUSA t BY SIDNEY C. MCCAUSLAND, EXECUTIVE OFFICER Approved as to form: BY Q� Presiding Wficer J ' J Attest 1 PERS CON -702 Margaret J. oehn, Leg91 Office, Date Clerk PERS CON -702