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HomeMy WebLinkAbout17 AMEND PERS 05-15-95,ATE: MAY 15, 1995 NO. 17 5-15-95 Inter-Com' TO: FROM: SUBJECT: WILLIAM A. HUSTON, CITY MANAGER OFFICE OF THE CITY CLERK ORDINANCE NO. 1151, AMENDMENTTOP~BLIOEMPLOYEESRETIREMENT SYSTEM CONTRACT RECOMMENDATION: Have second reading by title only and adoption of Ordinance No. 1151 (roll call vote). .~ ~ BACKGROUND: The following Ordinance No. 1151 had first reading by title only and introduction at the May 1, 1995 City Council meeting: ORDINANCE NO. 1151 -AN ORDINANCE OF THECITYCOUNCIL OF THECITY OF TUSTIN, CALIFORNIA, AUTHORIZINGANAMENDMENTTOTHECONTRACTBETWEEN THE CITY COUNCIL OF THE CITY OF TUSTIN AND THE BOARD OF ADMINISTRATION OF THECALIFORNIA PUBLIC EMPLOYEESRETIREMENTSYSTEM Valerie Crabill -- Chief Deputy City Clerk ORDINANCE NO. 1151 3 4 5 6 7 AN ORDINANCE OF THE CITY COUNt. OF THE CITY OF TUSTIN, CALIFORNIA AWI~ORIZING AN AMENDMENT TO THE CONTRACT BETWEEN THE CITY COUNCIL OF ~ CITY OF TUSTIN AND THE BOARD OF ADMINISTRATION OF THE CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM 9 10 11 12 13 14 15 16 The City Council of the City of Tustin hereby ordains as follows:' Section 1. That an amendment to the contract belween the City Council of the City of Tustin and the Board of Administration, California Public. Employees' Retirement System is hereby.authorized, a copy ofsaid amendment being attached hereto, marked Exhibit "A", and by such reference made a part hereof as though herein set out in full. Section 2, The Mayor of the City Council is hereby authorized, empowered, and directed to execute said amendment for and on behalf of the City of Tustin. 17 18 19 20 21 22 Section 3 This Ordinance shall take effect thirty 00) days after the date of its adoption, and prior to the expiration of thirty 00) days from the passage thereof shall be published at least once in The Tusfin News, a newspaper of general circulation, published and circulated'in the City of Tusfin and thenceforth and thereafter the same shall be in full force and effect PASSED AND ADOPTED, at a regular meeting of the City council for the City of Tustin on this 15th day of May, 1995. 23 24 25 Jim Potts, Mayor 26 27 Mary Wynn, City Clerk 28 AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION OF THE PUBLIC EMPLOYEES' RETiREM~.NT SYSTEM CITY COUNCIL OFTHE CITY OF TUSTIN EXHIBIT The Board of Adminis~ ' tration, Public Employees' Retirement System, hereinafter referred to as Board, and the governing b0~y of above public agency, hereinafter referred to as Public Agency, having entered into a contract 'effective August l, 1967, and witnessed October l, 1969, and as amended effective October l, 1969, June 18, 1979, December 29, 1980, February 26, 1990, October $, 1992 and December 28, 1992, which provides for participation of Public Agency in said System, Board and Public Agency hereby agree as follows:' A. Paragraphs 1 through 13 are hereby stricken from said contract as executed effective December 28, 1992, and hereby replaced by the following paragraphs numbered 1 through 13 inclusive: le All words and terms used herein which are defined in the Public Employees' Retirement Law shall have thc meaning as defined therein unless otherwise specifically provided. "Normal retirement age" shall mean age 60 for local miscellaneous members, age 55 for local fire members and age 50 for local police members. . Public Agency shall participate in the Public Employees' Retirement System from and after August 1, 1967 making its employees as hereinafter provided, members of said System subject to all provisiom 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 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); Ix)cai Police Officers (herein referred to as local safety members); 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: a. PERSONS COMPENSATED ON AN HOURLY BASIS. NOT' SIGN" "'EXHIBIT ONLY.# . . . . 10. 11. 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 21251.13 of said Retirement Law (2% at age 60 Full). The percentage of final compensation to be provided for each year of credited prior and current service as a local fire member shall be determined in accordance with Section 21252.1 of said Retirement Law (One-half pay at age 55 Full). The percentage of final compensatiOn to be provided, for each year of credited prior and current service a~ a local police member shall be determined in accor~ce with Section 21252.01 of said Retirement Law (251; at age 50 Full). Public Agency elected and elects to be subject to the following optional provisions: a. Section 21382 (Basic Level of 1959 Survivor Benefits) pursuant to Article 6 (commencing with Section 21380) for local fire members. be Section 20024.2 (One-Year Final Compensation) for local police members and local miscellaneous members only. Section 21382.5 (Fourth Level of 1959 Survivor Benefits) pursuant to Article 6 (commencing with Section 21380) for local police members only. Public Agency, in accordance with Government Code Section 20740, ceased to be an "employer' for purposes of Section 20759 effective on June 18, 1979. Accumulated contributions of Public Agency shall be fixed and determined as provided in Government' Code Section 20759, and accumulated contributions thereafter shall be held by the Board as provided in Government Code Section 20759. Public Agency shall contribute to said Retirement System the contributiom determined by actuarial v~uations of prior and future service liability with respect to local miscellaneous members and local safety members of said Retirement System. Public Agency shall also contribute to said Retirement System as follows: a. Public Agency shall contribute $8.00 per member, per month on account of the liability for the 1959 Survivor Benefits provided under Section 21382.5 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 police members. be A reasonable amount, as fixed by the Board, payable in one installment within 60 days 6f 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. 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. 12. 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. 13. 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. Adjusunents on account of 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 ,19 .. BOARD OF ~~qlSTRATION PUBLIC EMPLOYE~' RETIREMENT SYSTEM BY %'/~On/~'~.d' CHIEF ACTUARY ' ~' -., ACTUARIAL OFFICE ~-~ CITY COUNCIL OF THE CITY OF TUSTIN -O Presiding Officer Witness Date Attest: Clerk AMENDMENT PERS-CON-702A (Rev. 3/95) CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM Actuarial Office' Public Agency Contract Services P.O. Box 942709 Sacramento, CA 94229-2709 (916) 326-3420 CERTIFICATION OF COMPLIANCE WITH GOVERNMENT CODE SECTION 7507 I hereby certify lhat in accordance with Section 7507 of the Government Code the future annual costs as determined by the System Actuary and/or the increase in retirement benefit(s) have been made public at a public meeting of the.City of Tustin, governing body, of the City of Tustin on May 1, 1995 which is at least two weeks prior to the adoption of the Ordinance. Mary Wynn, City Clerk Date·'