HomeMy WebLinkAbout2012 029 CC RESO ATTACHMENT A
Resolution No. 2012-029
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BALDWIN PARK, CALIFORNIA,
ADOPTING AN ALTERNATIVE RETIREMENT SYSTEM FOR PART-TIME EMPLOYEES
WHEREAS it is determined to be in the City's best interest and its employees to provide a Qualifying Retirement
System for its employees not currently eligible for such a Qualifying Retirement System, thereby meeting the
requirements of Section 11332 of the Omnibus Budget Reconciliation Act (OBRA 90) and Section 3121(b)(7)(F)
of the Internal Revenue Code(IRC),
WHEREAS the Public Agency Retirement System (PARS) has made such a system available to the City and its
eligible employees and qualifies under OBRA 90 Section 11332, IRC Sections 3121(b)(7)(F) and 457(b), 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 Council hereby adopts the PARS Trust, including the PARS Section 457 FICA Alternative
Retirement Plan, effective July 18, 2012, the Effective Date for the benefit of employees on that date and
hired thereafter; and
2. The City Council hereby appoints the Human Resources Manager , or his/her successor or his/her
designee as the City's Plan Administrator for the PARS Section 457 FICA Alternative Retirement
Plan/Trust; and
3. The City's Plan Administrator is hereby authorized to implement the plan(s), execute the PARS legal and
administrative documents on behalf of the City and to take whatever additional actions are necessary to
maintain the City's participation in PARS and to maintain PARS compliance of any relevant regulation
issued or as may be issued; therefore, authorizing him/her to take whatever additional actions are required
to administer the City's PARS plan(s).
PASSED, APPROVED AND ADOPTED on this l& day of July, 20 2.
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�jW11M1.0 OZANO, CHAIR
ATTEST:
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES SS.
CITY OF BALDWIN PARK
1, ALEJANDRA AVILA, City Clerk of the City of Baldwin Park, do hereby certify that the foregoing resolution was
duly and regularly approved and adopted by the City of Baldwin Park at a regular meeting on July 18, 2012, by the
following vote: Marlen Garcia, Nbnica Garcia, Ricardo Pacheco
AYES: COUNCIL MEMBERS: Mayor Pro Ten Susan Rubio, Mayor Duel Lozano
NOES: COUNCIL MEMBERS:
ABSENT: COUNCIL MEMBERS:
ABSTAIN: L MEMBERS:
ALEJ'4 %
CITY CLERK