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Home My WebLink About2008-050 - Board of Administration California Public Employees' Retirement System RESOLUTION NO. 2008-050 RESOLUTION OF INTENTION TO APPROVE AN AMENDMENT TO CONTRACT BETWEEN THE BOARD OF AOMINISTRATlON CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM ANO THE CITY COUNCIL CITY OF SANTA ANA WHEREAS, the Public Employees' Retirement Law permits the participation of public agencies and their employees in the Public Employees' Retirement System by the execulion 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 app"Ove an amendment to said contract. which resolution shall contain a summary of the change proposed in said contract; and WHERCAS, the followin~ is a statement of tli", [JIUPUSI:!d change: To provide Section 21354.5 (2.7% @ 55 Full formula) for local miscellaneous members. NOW, THEREFORE, BE IT RESOLVED that the goveming body of the above agency does hereby give notice of Intention to approve an amendment to the contract be:ween said public agency and the Board of Administration of the Public Employees' Retirement SjlStem f said amendm being attached hereto, as an 'Exhib~" an y f8[f!nce U July 7, 2008 Mayor Title Date acopted and apprc.ved IAmQNtmQl'lt) C:JN':{[1'1 (RAV LJ96) Resolution No. 2008-050 Page 1 of 6 APPROVED AS TO FORM: Joseph W. Fletcher City Attorney se Straka Assistant City Attorney AYES: Councilmembers: Alvarez. Benavides. Bustamante, Martinez. Pulido. Sarmiento, Tinaiero (7) NOES: Councilmembers: None (0) ABSTAIN: Councilmembers: None (0) NOT PRESENT: Councilmembers: None (0) CERTIFICATE OF ATTESTATION AND ORIGINALITY I, PATRICIA E. HEALY, Clerk of the Council, do hereby attest to and certify the attached Resolution No. 2008-050 to be the original resolution adopted by the City Council of the City of Santa Ana on Julv 7.2008. Date: 7- It - tJ<Z l.- Patricia E. Healy Clerk of the Council City of Santa Ana Resolution No. 2008-050 Page 2 of 6 A CalPERS EXHIBIT California Public Employees' Retirement System . AMENDMENT TO CONTRACT Between the Board of Administration California Public Employees' Retirement System and the City COUDcil City of Santa Ana . 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 July 1, 1947, and witnessed November 25, 1946, and as amended effective October 1, 1951, February 1,1954, September 1,1956, July 1, 1959, November 1,1960, September 1, 1963, April 1, 1964, February 1, 1965, January 16, 1969, November 1, 1970, June 1, 1974, December 16, 1976, December 1, 1978, October 1, 1981, July 1, 1984, December 1,1984, July 1, 1985, February 1,1990, July 1, 1990, December 5,1991, April 15, 1993, June 16, 1994, January 1,1995, December 5,1995, July 5,2000, March 8, 2001, July 1, 2001, April 5, 2002, November 7, 2002 and July 1, 2007 which provides for pariicipation 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 July 1, 2007, and hereby replaced by the following paragraphs numbered 1 through 13 inclusive: 1. All wcrds and terms used herein which are defined in the Public Employees' Retirement Law shall have the meaning as defined therein uniess otherwise specifically provided. "Normal retirement age' shall mean age 55 for local miscellaneous members and age 50 for local safety '.' ~ 2. Public Agency shall participate in the Public Employees' Retirement System from and after July 1,1947 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. Local Fire Fighters (herein referred to as local safety members); b. Local Police Officers (herein referred to as local safety members); c. 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: NO ADDITIONAL EXCLUSIONS 5. The percentage of final compensation to be provided for each year of credited prier 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% at age 55 Full). 6. 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 21354.5 of said Retirement Law (2.7% at age 55 Full). 7. The percentage of final compensation to be provided for each year of credited pricr and current service as a local safety member shall be determined in accordance with Section 21362.2 of said Retirement Law (3% at age 50 Full). Resolution No. 2008-050 Page 4 of 6 8. Public Agency elected and elects to be subject to the following optional provisions: a. Sections 21624 and 21626 (Post-Retirement Survivor AllowarJce). b. Section 20042 (One-Year Final Compensation). c. Section 20903 (Two Years Additional Service Credit). d. Section 21548 (Pre-Retirement Option 2W Death Benefit). e. Section 21024 (Military Service Credit as Public Service). f. Section 20965 (Creditfor Unused Sick Leave). g. Section 21674 (Fourth Level of 1959 Survivor Benefits). 9. Public Agency, ir accordance with Govemment Code Section 20790, ceased to be an 'employer" for purposes of Section 20834 tlffective on December 16, 1976. Accumulated contributions of Public Agency shall be fixed and determined as provided in Govemment Code Section 20834, and accumulated contributions thereafter shall be held by the Board as pmvided in Government Code Section 20834. 10. Public Agency shall contribute to said Retirement System the contributions determined by actJarial valuations of prior and future service liability with respect to local miscellaneous members and local safety members of said Retirement System. 11. 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 omployees shall be pooled in a single account, based on term insurance rates, for survivors of all local miscellaneous members and local safety members. b. A reasonable amount, as fixed by the Board, payable in one installment within 60 days of date of contnact 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. Resolution No. 2008-050 Page 5 of6 c, A reasonable amount, as fixed by the Board, payable in one installment as the occasions arise, tc cover the costs of spedal valuations on account of employees of Public Agel'1cy, and costs of the periodic investigation and valuations required by law, 12, Contributions required of Public Agency and its employees shall be subject to adjustment by Board cn account cf amendments to the Public Employees' Retirement Law, and on account of the experfence under the Retirement System as determined by the periodic investigation and valuation required by said Retirement Law, 13, Contributons required cf 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 cf contributior.s ~ paid for allY period, proper adjustment shall be made in connection with subsequent remit1ances, Adjustments on account cf 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 BOARD OF ADMINISTRATION CITY COUNCIL PUBLIC EMPLOYEES' RETIREMENT SYSTEM CITY OF SANTA ANA BY LORI MCGARTLAND, CHIEF, " EMPLOYER SERVICES DIVISION PUBLIC EMPLOYEES' RETIREMENT SYSTEM BY PReSIDING OFFICER , Witness Date Attest: Clerk AMEND~NT ERII 0137 PERS-CON-702A (Re\'. 1::110.5) Resolution No. 2008-050 Page 6 of6