HomeMy WebLinkAbout2011-024 - Supplementary Retirement Plan for Twenty-FiveRESOLUTION NO. 2011-024
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA ANA AUTHORIZING THE IMPLEMENTATION OF A
SUPPLEMENTARY RETIREMENT PLAN FOR TWENTY-FIVE
(25) POLICE OFFICERS ASSOCIATION RETIREES,
DESIGNATING PUBLIC AGENCY RETIREMENT SERVICES
AS THE TRUST ADMINISTRATOR AND AUTHORIZING THE
CITY MANAGER TO EXECUTE THE RETIREMENT PLAN
AND TRUST DOCUMENTS
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS
FOLLOWS:
Section 1. The City Council of the City of Santa Ana hereby finds, determines
and declares as follows:
A. The Public Employees' Retirement Law (PERL) permits the
participation of public agencies and their employees in the California
Public Employees' Retirement System (CaIPERS) by the execution of a
contract, and sets forth the procedure by which said public agencies may
amend and supplement such contract; and
B. During contract negotiations between the City and the Santa Ana Police
Officers Association (POA) for fiscal year 2010-2011, it was agreed by the
POA to defer salary increases scheduled for July 1, 2009 and January 1,
2010, except that members of the Association who stated their intention
to retire from employment with the City during the term of the Extension
would receive salary increases per the original schedule that would qualify
for calculation in their retirement formulas and, in exchange for said salary
increases, said members would participate in an unpaid furlough program
equated to the monetary value of the received increases. Twenty-five (25)
members of the Association timely stated their intention to retire, received
the salary increases and participated in the furlough program; and
C. The Public Agency Retirement System (PARS) is a professional entity
that provides supplemental retirement plans to public employees and has
agreed to develop a Supplementary Retirement Plan and Trust ("the
PARS Trust Supplementary Retirement Plan") for the above-referenced
twenty-five (25) POA retirees, supplementing the CaIPERS retirement
benefits and qualifying under the relevant sections of the Internal Revenue
Code and the California Government Code.
Resolution No. 2011-024
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Section 2. The City Council of the City of Santa Ana hereby authorizes the
implementation of the PARS Trust Supplementary Retirement Plan for said twenty-five
(25) POA retirees, as part of the City's Retirement Program.
Section 3. The City Council hereby appoints PARS Trust as Trust
Administrator and Record keeper for the Plan.
Section 4. The City Council hereby authorizes the transfer of funds to a
financial institution as agreed upon by PARS and the Plan Administrator as soon as
administratively feasible.
Section 5. The City Manager and the Executive Director of Personnel Services
are hereby authorized to execute and submit the Administrative Services Agreement,
Trust document and any other documents necessary to implement the PARS Trust
Supplementary Retirement Plan for said twenty-five (25) POA retirees, on behalf of the
City.
Section 6. The City Council hereby appoints the Executive Director of
Personnel Services, or her designee, as the City's Plan Administrator for the Plan.
Section 7. The City's Plan Administrator is hereby authorized to implement the
Plan and to take additional actions as necessary to maintain the City's participation in
PARS, maintain compliance with any regulations regarding the Plan, and to administer
the PARS Trust Supplementary Retirement Plan for said twenty-five (25) POA retirees,
on behalf of the City.
Section 8. If the City's Plan Administrator finds that the PARS Trust
Supplementary Retirement Plan for said twenty-five (25) POA retirees must be limited
under Section 415 of the Internal Revenue Code, then the Plan Administrator will
implement replacement benefit programs at no additional cost to the City.
Section 9. This Resolution shall take effect immediately upon its adoption.
Resolution No. 2011-024
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ADOPTED this 18th day of April 2011.
CQ .e
Miguel A. Pulido So,,, Mi ?+(•,e?a
Mayor
APPROVED AS TO FORM:
City Attorney's Office
B
Y;
Jose h Straka
Interim City Attorney
AYES: Councilmembers:
NOES: Councilmembers
ABSTAIN: Councilmembers
NOT PRESENT: Councilmembers
Alvarez, Benavides, Bustamante, Martinez (4)
None (0)
None (0)
Pulido, Sarmiento, Tinaiero (3)
CERTIFICATE OF ATTESTATION AND ORIGINALITY
I, MARIA D. HUIZAR, Clerk of the Council, do hereby attest to and certify the attached
Resolution No. 2011-024 to be the original resolution adopted by the City Council of the
City of Santa Ana on April 18, 2011.
Date:
Clerk of the Council,
City of Santa Ana
Resolution No. 2011-024
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