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HomeMy WebLinkAboutResolution No. 91-C172RESOLUTION NO. 91-C172 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF AZUSA APPROVING THE PUBLIC AGENCY RETIREMENT SYSTEM AS THE RETIREMENT SYSTEM FOR CITY EMPLOYEES NOT CURRENTLY ELIGIBLE FOR A QUALIFYING RETIREMENT SYSTEM. THE CITY COUNCIL OF THE CITY OF AZUSA DOES RESOLVE AS FOLLOWS: WHEREAS, it is determined to be in the best interest of the City of Azusa and its employees to provide a qualifying Retirement System to all employees not currently eligible for such a Qualifying Retirement System, thereby meeting the requirements of Section 11332 of the Omnibus Budget Reconciliation Act and Section 3121 (b)(7)(F) of the Internal Revenue Code. WHEREAS, the Public Agency Retirement System (PARS) Pension Plan, a governmental plan, has made such a System available to the City of Azusa and its eligible employees, and qualifies under California Government Code Sec. 20,000, Education Code Sec. 22,000, Section 11332 of the 1990 Omnibus Budget Reconciliation Act (OBRA 90) and meets the meaning of the term "retirement system" as given by Section 218(b)(4) of the Federal Social Security Act; NOW, therefore be it resolved that: 1. The City of Azusa does hereby adopt PARS Effective December 22, 1991, the effective date for the benefit of employees on that date and hired thereafter; and, 2. Henry Garcia, City Administrator, is hereby appointed City Plan Administrator; and, 3. The City's Plan Administrator is hereby authorized to execute the PARS Adoption Agreement on behalf of the City of Azusa and to take whatever additional actions that are necessary to maintain the participation of the City in PARS and to maintain PARS compliance with Section 11332 of the Act and relevant regulations issued or as may be issued. The City Clerk shall certify to the adoption of this resolution. ADOPTED AND APPROVED this 2nd day of December, 1991. PF I I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the City Council of the City of Azusa at a regular meeting thereof held on the 2nd day of December, 1991. AYES: COUNCILMEMBERS: DANGLEIS, STEMRICH, NARANJO, ALEXANDER, MOSES NOES: COUNCILMEMBERS: NONE ABSENT• CO�JNCILMBMBE S: NONE CITY CLERK V