The contract between the city council and the board of administration,
California Public Employee's Retirement System is approved.
(Ord. 114 § 1, 1976)
Amendments to the contract between the city and the Board of
Administration, California Public Employees' Retirement System are
authorized, the amendments being set out in full in this section.
A. Paragraphs
1 through 11 are stricken from said contract as executed effective
July 5, 1998, and hereby replaced by the following paragraphs numbered
1 through 11 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.
2. Public
Agency shall participate in the Public Employees' Retirement System
from and after April 5, 1974 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.
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. 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:
5. Except
for employees hired on or after the effective date of this contract
amendment the percentage of final compensation to be provided for
each year of credited prior and current service as a local miscellaneous
member in employment before and not on or after the effective date
of this amendment to contract shall be determined in accordance with
Section 21354 of said Retirement Law (2.5% at age 55 Full). The percentage
of final compensation to be provided for each year of credited prior
and current service as a local miscellaneous member in employment
on or after the effective date of this amendment to contract shall
be determined in accordance with Section 21354.4 of said Retirement
Law (2.5% at age 55 Full). For employees hired on or after the effective
date of the contract amendment the percentage of final compensation
shall be 2% at age 60 with such employees paying 100% of the employee
contribution rate.
6. Public
Agency elected and elects to be subject to the following optional
provisions:
a. Section 21024 (Military Service Credit as Public Service), Statutes
of 1974.
b. Section 20042 (One-Year Final Compensation).
c. Section 21574 (Fourth Level of 1959 Survivor Benefits).
7. Public
Agency, in accordance with
Government Code Section 20790, ceased to
be an employer for purposes of Section 20834 effective on December
13, 1975. 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.
8. Unless
otherwise provided in this section, 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 of said Retirement System.
9. Unless
otherwise provided in this section, Public Agency shall also contribute
to said Retirement System as follows:
a. Contributions required per covered member on account of the 1959
Survivor Benefits provided under Section 21574 of said Retirement
Law. (Subject to annual change.) In addition, all assets and liabilities
of Public Agency and its employees shall be pooled in a single account,
based on term insurance rates, for survivors of all local miscellaneous
members.
b. 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.
c. 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.
10. 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.
11. 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. 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.
(Ord. 40 § 1, 1974; Ord. 91 § 1, 1975; Ord. 115 § 1, 1976; Ord. 234 § 1, 1981; Ord.
546 § 1, 1992; Ord. 701 § 1, 1998; Ord. 747 § 1,
2001; Ord. 921 § 2, 2006; Ord. 1046 § 2, 2012)
The city manager is authorized, empowered and directed to execute the amendment set out in Section
2.48.030 for and on behalf of the agency.
(Ord. 234 § 2, 1981)