HomeMy WebLinkAboutReso 057-00 PERSRESOLUTION NO. 57 - 00
RESOLUTION OF INTENTION
'FO APPROVE AN AMENDMENT TO CONTRACT
BETWEEN THE
BOARD OF ADMINISTRATION
CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM
AND THE
CITY COUNCIL
CITY OF DUBLIN
WHEREAS,
the Public Employees' Retirement Law permits the participation of public
agencies and th. eir employees in the Public EmplOyees' Retirement System
by the execution of a contract, and sets forth the pro. cedure 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 a~mend 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 formula) and'
Section 20042 (One-Year Final Compensation) 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.
PASSED, APPROVED AND ADOPTED this 18th day of April, 2000.
AYES: Councilmembers Howard, McCormick, Zika, Vice Mayor Lockhart and Mayor
Houston
NOES: None
ABSENT: None
ABSTAIN: None
RESOLUTION OF INTENTION
?O APPROVE AN AMENDMENT TO CONTRACT
BETWEEN THE
BOARD OF ADMINISTRATION
CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM
AND THE
CITY COUNCIL
CITY OF DUBLIN
WHEREAS,
the Public Empl.oyees' 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 prqcedure 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 a~mend 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 formula) and
Section 20042 (One-Year Final Compensation) 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 ~mendment being
attached hereto, as an "Exhibit" a~d by this reference made a part hereof.
Presi~g Officer
April 18, 2000
Date adopted and approved
(Amendment)
CON-302 (Rev. 4/96)
MAYOR
Title
CalPERS
California
Public Employees' Retirement System
AMENDMENT TO CONTRACT
Between ~he
Board of Administration
California Public Employees' Retirement System
and the
City Council
City of Dublin
The Board of Administration, California Public Employees' Retirement System,
hereinafter referred to as Board, and the governing body of the above public agency,
hereinafter referred to as Public Agency, having entered into a contract effective
February 1, 1983, and witnessed December 13, 1982, and as amended effective April
12, 1986 and November 21, 1987 which provides for participation of Public Agency in
said System, Board and Public Agency hereby agree as follows:
Paragraphs 1 through 10 are hereby stricken from said contract as executed
effective November 21, 1987, and hereby replaced by the following paragraphs
numbered 1 through 11 inclusive:
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.
Public Agency shall participate in the Public Employees' Retirement
System from and after February 1, 1983 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.
o
o
Employees of Public Agency in the follqwing classes shall become
members of said Retirement System except such in each such class as
are excluded by law or this agreement:
Employees other than local safety members (herein referred to as
local miscellaneous members).
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:
am
FIRE FIGHTERS; AND
POLICE OFFICERS.
The percentage of final compensation to be provided for each year of
credited prior and current service as a local miscellaneous member shall
be determined in accordance with Section 21354 of said Retirement Law
(2% at age 55 Full).
Public Agency elected and elects to be subject to the following optional
provisions:
Section 20938 (Limit Prior Service to Members Employed on
Contract Date).
b. Section 21573 (Third Level of 1959 Survivor Benefits).
c. Section 20042 (One-Year Final Compensation).
Public Agency, in accordance with .Government Code Section 20834, shall
not be considered an "employer" for purposes of the Public Employees'
Retirement Law. Contributions of the Public Agency shall be fixed and
determined as provided in Government Code Section 20834, and such
contributions hereafter made shall be held by the Board as provided in
Government Code Section 20834.
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.
Public Agency shall also contribute to said Retirement System as follows:
Contributions required per covered member on account of the 1959
Survivor Benefits provided under Section 21573 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.
bo
A reasonable amount, as fixed by the Board, payable in one
installment within 60 days of d~.te of ~ontract 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.
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.
This amendment shall be effective on the l'~ day of
BOARD OF ADMINISTRATION
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
KEN(SI.E"~FI)~V. MARZI',~-~, CI:-IIEF ~
ACTUARIAL & EMPLOYER SERVICES DIVISION
PUBLIC'EMPLOYEES RETIREMENT SYSTEM
CITY COUNCIL
CITY OF DUBLIN
AMENDMENT
PERS-CON-702A (Rev. 8\96)
Attest:
Clerk ~,~ "~