HomeMy WebLinkAbout1998 072 CC RESO1998 072 CC RESO¹òw @˜ ’ Ñ RESO 98-72 SEP 16 1998H0^8 RESOLUTION 98-72
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 BALDWIN PARK
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 and Modified
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
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1998 072 CC RESO¹òw @˜ ’ Ñ RESO 98-72 SEP 16 1998H0^8Resolution No. 98-72
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES) ss.
CITY OF BALDWIN PARK
I, being the Deputy City Cleric of the City of Baldwin Park do hereby certify that the foregoing
resolution was duly and regularly passed and adopted by the City Council of the City of Baldwin Park at
regular meeting of the City Council September 16,1998 by the following vote:
AYES: COUNCILMEMBERS: LOZANO MUSE. VAN CLEAVE, PACHECO, AND MAYOR BETTE LOWES
NOES: COUNCILMEMBERS: NONE
ABSENT: COUNCILMEMBERS: NONE
ABSTAIN: COUNCILMEMBERS: NONE
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10/10/2001-U04
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1998 072 CC RESO¹òw @˜ ’ Ñ RESO 98-72 SEP 16 1998H0^8 EXHIBIT
AMENDMENT TO CONTRACT RESOLUTION 98-72
BETWEEN THE
BOARD OF ADMINISTRATION
OF THE
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
AND THE
CITY COUNCIL
OF THE
CITY OF BALDWIN PARK
The Board of Administration, Public Employees' Retirement System, hereafter referred to as Board,
and the governing body of above public agency, hereinafter referred to as Public Agency, having
entered into a contract effective September 1, 1965, and witnessed July 7, 1965, as amended
effective January 1, 1972, July 1, 1977, October 9, 1994 and December 2, 1995 which provides for
participation of Public Agency in said System, Board and Public Agency hereby agree as follows:
A. Paragraphs 1 through 12 are hereby stricken from said contract as executed effective December
2, 1995, and hereby replaced by the following paragraphs numbered 1 through 12 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 and age 50
for local safety members.
2. Public Agency shall participate in the Public Employees' Retirement System from and
after September 1,1965 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 contacting 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
argument:
a. Local Police Officers herein referred to as local safety members);
b. Employees other than local safety members herein referred to as local
miscellaneous members).
BIB]
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10/10/2001-U04
ADMIN-U04
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98-72-U05
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1998 072 CC RESO¹òw @˜ ’ Ñ RESO 98-72 SEP 16 1998H0^8 RESOLUTION 98-72 PLEASE DO NOT SIGN EXHIBIT ONLY'
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. FIREFIGHTERS; AND
b. ALL HOURLY RATED OR HOURLY BASIS EMPLOYEES.
5. The percentage of final compensation to be provided for local miscellaneous members
for each year of credited prior and current service shall be determined accordance
with Section 21354 of said Retirement Law, subject to the reduction provided therein
for service prior to December 31,1971, termination of Social Security, for members
whose service has been included in Federal Social Security 2% at age 55 Full and
Modified).
6. The percentage of final compensation to be provided for each year of credited prior and
current service as a local safety member shall be determined in accordance with Section
21362 of said Retirement Law 2% at age 50 Full).
7. Public Agency elected and elects to be subject to the following optional provisions:
a. Section 20042 One-Year Final Compensation).
b. Section 21571 Basic Level of 1959 Survivor Benefits).
c. Section 20903 Two Years Additional Service Credit).
d. Section 21024 Military Service Credit as Public Service), Statutes of 1976.
8. Public Agency, in accordance with Government Code Section 20790, ceased to be an
employer" for purposes of Section 20834 effective on July 1, 1977. Accumulated
contributions of Public Agency shall be fixed and determined as provided in
Government Code Section 20834, and accumulated contributions thereafter shall be
held by the Board as provided in Government Code Section 20834.
9. Public Agency shall contribute to said Retirement System the contributions determined
by actuarial valuations of prior and fixture service liability with respect to local
miscellaneous members and local safety members of aid Retirement System.
10. Public Agency shall also contribute to said Retirement System as follows:
a 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.
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98-72-U05
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1998 072 CC RESO¹òw @˜ ’ Ñ RESO 98-72 SEP 16 1998H0^8 RESOLUTION 98-72
b. A reasonable amount, as fixed by the Board, payable in one installment as the
occasions rise, to cover the colts of special valuations on account of employees
of Public Agency, and colts of the periodic investigation and valuations required
bylaw.
11. 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.
12. 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 lf 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 19
BOARD OF ADMINISTRATION CITY COUNCIL
PUBLIC EMPLOYEES' RETIREMENTS OF THE
CITY OF BALDWIN PARK
BY
KENNETh W. MARZION, CHIEF BY
ACTUARIAL & EMPLOYER SERVICES DIVISION PRESIDING OFFICER
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
Witness Date
Attest:
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1998-U05
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37426-U01
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