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Home My WebLink About2004 006 CC RESO2004 006 CC RESO¼òw @| »RESOLUTION 2004-006 RESOLUTION OF INTENTION TO APPROVE AN AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE CITY COUNCIL 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 21362.2 3% 50 Full formula) for local police 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 sai^amendment being attached hereto, as an Exhibit" and by thisref^bnc^made a part hereof. h^u^^ /e.^4 Date adored and approved Amendment) CON-302 Rev 4/96) BIB] 38183-U01 2004-U02 006-U02 CC-U02 RESO-U02 LI3-U03 FO8417-U03 FO35399-U03 DO48940-U03 C6-U03 RESO-U03 7/14/2004-U04 ROBIN-U04 2004 006 CC RESO¼òw @| » CalPERS California Public Employees' Retirement System AMENDMENT TO CONTRACT Between the Board of Administration California Public Employees' Retirement System and the City Council City of Baldwin Park The Board of Administration, Caiifcrnia Public E'-mployees1 Retirement System. hereinafter referred tc as Board, and the go'-r^ning body of the above public agency, hereinafter referred to as Public Agency, having entered into a contract effective September 1, 1965, and witnessed July 7, &65, and as amended effective January 1, 1972. July 1. 1977, October 9. 1994, December 2, 1995, November 15. 1996 and December 3. 1999 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 3. 1999. and hereby replaced by the following parag.-aphs numbered 1 through 12 inclusive: 1. All words and terms used herein wnich are defined in the Public Employees' Retirement Law sh&ll w/e 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 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. BIB] 38183-U01 2004-U02 006-U02 CC-U02 RESO-U02 LI3-U03 FO8417-U03 FO35399-U03 DO48940-U03 C6-U03 RESO-U03 7/14/2004-U04 ROBIN-U04 2004 006 CC RESO¼òw @| »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. Local Police Officers herein referred to as local safety members); b. 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. FIRE FIGHTERS. 5. The percentage of final compensation to be provided for each year of credited prior and current service for local miscellaneous members shall be determined in 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 beer; included in Federal Social Security 2% at age 55 Full and Modified). 6. he percentage of finf:' compensation to by provided for each year of credited prior and current se."vice as a ioca' safety member shall be determined in accordance with Section 2 362.2 of said Retirement Law 3% 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. e. Section 20503 To Remove the Exclusion of All Hourly Rated or Hourly Basis Employees. Prospectively from December 3.1999). 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. BIB] 38183-U01 2004-U02 006-U02 CC-U02 RESO-U02 LI3-U03 FO8417-U03 FO35399-U03 DO48940-U03 C6-U03 RESO-U03 7/14/2004-U04 ROBIN-U04 2004 006 CC RESO¼òw @| »9. Public Agency shall contribute to said Retirement System the contributions determined by actuarial valuations of prior and future service liability with respect to local miscellaneous members and local safety members of said 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. b. A reasonable amount, as fixed by the Board, payable in one installment 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. 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 lequired by said Retirement Law. 12 Contributions required of Public Agency and its employees shal! 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 nay 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. B. This amendment shall be effective on the day of T^ x>^ BOARD OF ADMINISTRATION CITY COUNCIL PUBLIC EMPLOYEES' RETIREMENT SYSTEM CITY OFJ^I^INP^RK BY j^^——l^ BY^^J^^^_______ KEN^THW MARZION/CHIEF PR^^WG>Qm^ ACTUARIAL & EMPLOYER SERVICESDIVISION / PUBLIC EIWLOYEES- RETIREMENT SYSTEM sl:^c4 Witness Defte Attest: fJ a^kiu^ OJDJL^^CL Cle/rk AMENDMENT ER<t0595 PERS-CON-702A Rev 8\02» BIB] 38183-U01 2004-U02 006-U02 CC-U02 RESO-U02 LI3-U03 FO8417-U03 FO35399-U03 DO48940-U03 C6-U03 RESO-U03 7/14/2004-U04 ROBIN-U04