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Home My WebLink AboutAgmt_1946_November 25_SERS .1 STATE EMPLOYEES' RETIREMENT SYSTE~.E: r SACRAMENTO 14, CALIFORNIA "~- t -~-' ~ . ST"TEEN!J~L()YEf;S RJrrjREM~"!T!,;V?!f.'M __m_________m______m__________~_QJ:.TI__Qg!mQ_;I:l;_____________________-'o__~ BETWEEN R (iontrart NAME OF LEGISLATIVE BODY OF CITY OF SANTA ANA NAME OF CrrY, COUNTY, SCHOOL DISTRICT. OIl OTHER PUBLIC AGENCY AND THE BOARD OF ADMINISTRATION OF THE CALIFORNIA STATE EMPLOYEES' RETIREMENT SYSTEM ! 1Chls SIgrecmcnt made this_ 25:tlL__day oLm.-__ .No.y:emQe;c__,~__....--, 194__6., by and between the Legislative Body of__~______________(a.j;.J:--Q.t'._SJJ.llt_g_j~mL_________________-----.:.._--~___----------,--~i....~-_~----, Name of City, County, School Dinrict, or Othu" Public Agency ." . . hereaftet referred to as "Public Agency," and the Board of Administration, California State Employees' Retiretnent .Syrtem~ . hereafter referred to as uBoard. tJ WITNESSETH: In consideration of the covenants and agreements hereinafter contained and on the part. of bothc.pa,rti~~c, ~ bC.Jtept and performed, Public Agency and Board hereby agree as follows: ... 1. Public Agency is to participate in the State Employees' Retirement System, subject to the provisIons of t~e State' EmplQyeel Retirement Law. ., 2. Public Agency shall participate in said Retirement System, making its employees member,s ,of said System, from and after______JJJ1.y___l.__________m_________, 194__1_. ;.' :~I 'I I II i ; 3. Employees of Public Agency in the following classes shall become members of said Retirement Systeminaccoid- ance with the provisions of said Retirement Law, governing membership in said Retirement System, and s.uhject to" the"fu~~her exclusions from membership in the next following sentence: ~. .- NUMREROF EMPLOYEES ELIGIBLE FOR MEMBERSHIP CLASSES OF EMPLOYEES ON July 1 ,1".'L / V'-" 8. Local Firemen, as de:6ned in the State Employees' Retireme.pt Law 44 vi' b. Local Policemen, as deEned -in the State Employees' Retirement Law ./ _______i.li.___--.:..:. c. Employees other than LoC21 Firemen 2nd Loc21 Policemen . ___.l~- -:-C~ I In addition to the employb:~ e~cluded from membership by said Retirement ~w; the following 'employees shall not become members of the Retirement System: NO ADDITIONAL EXCLUSIONS / Board and Public Agency agree that, except as provided in paragraph 9, no adjustment shall be maoe in the ainount ofcontri- butions provided in paragraph 9a on account of prior service, or in the percentage provided in paragraph 9b, ~ecaUse of variations in the numbers of employees who become members of said Retirement System on the effective date hereof, from the number listed above, due to termination of service by such causes as death, resignation or discharge, at the employment of individuals not included in said number. ,. ._ ./ 4. Age ____6_0 _n___ _ shall be the normal minimum age for retirement for service, of miscellaneous 7e bers employed ("60" or "6~") by public agency, that is, members other than Local Firemen and Local Policemen, and_m____________li6_0___~_______~un_____________n (..oll~-si:lttiet~.. if age is 60, or "one-Ieventieth" if aS~il 6~) shall be the fraction of final compensation, as defined in said Retirement Law, to be provided 'on the average, for each year of service as a member, by the members' and Public Agency's normal contributions, upon retirement at said minimum age. -i i i I i 5. Benefits on account of prior service, that is, service credited hereunder as rendered to Public AgeIicy poor to the effective date of participation, to respective members employed by Public Agency as Local Firemen or .Local Policemen, shall be allowed only as a percentage of the average salary specified in said Retirement La~, for each year of such servi~, and said percentage shall be_nn_~Q_Q_______!___n_per cent of the fraction of final compensatiQn, as defined in the State Employees' (such as "50," "7~," "100") Retirement Law, for each year of service rendered after said date, as determined for said respective members under said law, for retirement for service at age 5 5, or upon qualification for service retirement at a higher age. If a member retires for service before attaining age 5 5, his prior service pension shall be reduced to that amount which :the value of thepensioIi as deferred"to age 55 will purchase at the actual age of retirement. ' 6. Prior service benefits to miscellaneous members ,employed by Public Agency, that is, members ocll(;~Lthan Local Firemen and Local Policemen, upon retirement for service at the normal minimum age entered in paragraph 4. hereof, shall be allowed only as a percentage of the ~verage salary specified in said Retire~nt/Law) for each year of such service, and said . / - percentage shall be ___lQQ__ ______Ln___per cent of_n________nn______lI'Qfhnn__nn_nn_n___nn_n___~m_-_~n---_,_-__---"~~-------,----. (such ~1"50," "n," "lOO") ("one-siztie[h" if minimum &$1' ~bove is 60, or "one-ilueotieth" if minimum age above is 6~) If a member retires for service before attaining the normal minimum age in item 4, his prior service pension shall be"reduced to that amount which the value of the pension as deferred to said minimum age will purchase at the actilal age of retirement. , /. - -. . 7. The provisions of Section_____nn_______mnnJ~;!,?l?8B____m__________n___________m__ of tbe State Employees' ("212~8b" if minimum.ge above h 60, or "2(2~Bc" if miaimum il,!;e above is n) /, . . L .. . . 11 d . di . SHALL 1 Retlfement aw, guaranteerng a rmmmum retIremMt a owance un er certaIn con tIons,_____m__~__'_.-~c_:__-mm.c-,-app y to ("d1:ln" or "shall not") employees of Public Agency who become members of said Retirement System. 8. The provislOns o,f Secti,_ _.d367.5 of the State Employees' Retirement Lafl';"providi,ng a $300 death benefit #fer j rt'prement___._SHALL_____:________ apply to employees of Public Agency who become members of said Retirement System., . J ("~hall" or "dull Dot") I I I I 1 I 9. Public Agency shall contribute to said l}etirement System as follows: a. The sum of $.fi~~DBD...ti~ ~num, payable in equal monthly or less frequent installments as Board shall require. for a period of__nu__25-__~~__yea;s, on account of the liability. for benefits based on service rendered to Public Agency prior to the effective date hereof. b. __9...ii3.'Z___{.r cent of total salaries paid by Public Agency each month to its employees who are llleIIlbers of said Retirement System, provided that only salary earned as members of said System shall be iIiclude~ in said total salaries, and the employees who are members of said System shall include ,employees who be~ome members upon the effective date hereof and employees who become members thereafter. c. A reasonable amount per annum. as fixed by Board, payable in equal montWy or less fre,quent installmep,ts, 'as Board shall require, to cover the costs of administering said System as it affects the employees of Pu"lic Agency,' not including the costs of special valuations or of the periodical investigation and ,valuation required by l~w, provided that said amount shall be determined on the basis of the number of employees of Public Agency who are members on July 1st of the respective fiscal years, or with respect to t~e first year of participation, on the effective date of said participation. d. A reasonable amount as fixed by the Board, payable in one installment fropl time to time as the oc~asi~ns arise, to cover the costs of special valuations on account of employees of Public Agency,and the ~stsofth~ ' periodical investigation into the experience under said Retirement System, as it .affects said employe"es) a!ld the valuation of the assets and liabilities of said System on account of said employees. . , Contributions required of Public Agency and its employees shall be subject to adjustment by the Board of Admin- istration on account of amendments to the State Employees' Retirement Law, and on account of experience under the Retirement System, as determined by the periodical investigation, valuation and determination provided for by said "R.etiremen~ Law. ., . 10. Contributions required of Public Agency under paragraph 9 immediately preceding, and contributio,ll,s requited of Public Agency's employees who are members of said System, shall be paid by Public Agency to ~he State Emplones' Retirement System within thirty days after the end of the month or longer period to which said contnb'utions refer. If more or less than the correct amount of contribution required of Public Agency or its employees is paid for. any pei;'.iod} pr9pet adjustment shall be made in connection with subsequent remittances of Public Agency to the Board, to rectify the ericirs; or such adjustments on account of errors made in contributions required of employees, may be made by direct cashpaymei1ts between the employee in connection with whom the error was made. and Board. Payments' of Public Agency to Board may be made in the form of warrants, bank checks, bank drafts, certified checks, money orders, or cash. WITNESS OUR HANDS the day and year :first above written. .______.__Q_,i.txmg.Q~~.~!.__..__'.m.m~...'.---,.,__~....__----"..".of N.me of Lellii,llltive B.od., ... City of Santa Ana ------ Mayor . P"!i<ling pffim BOARD OF ADMINISTRATION. y__:T::Z~~:!:~7;2TEM.. .. Pusident, Board of Administration - _ 1!l1l18 3_41! 1M SPO .... "