Resolution - 6749't
RESOLUTION NO. 6749
RESOLUTION OF IWTENTION
TO APPROVE AYI AMEfTDMERT TO CONTRACT
BETWEEN THE
BOARi OF ADMINISTRATION .
OF THE
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
AND THE
CITY COUNCIL
OF THE
CITY OF WEST COVINA
WHEREAS, the Public. Employees' Retirement Law permits the participation of pub-
lic agencies and their employees in the' Public .Employees' Retirement
System -by the execution of a contrast.,. and sets forth. the procedure by
which said .publio agencies may elect to subject,themselves and their
employees to amendments to said Law;. dine%
WHEREAS, . one of the :steps. in the procedure to .amend this contract is the .adop-
tion by the legislative beady of the public agency of a resolution giv-
ing 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 20024.2 (One -yeas final
compensation) and 21 55 Full formula (fii om 1/2 @- .5
Full fprmu?a), both for local 'oafety 'mr bers' only.
NOW, THPItI+FORE, BE IT RESOLVED, that the governing body of the above Agency
gives, arid.'it _does hereby gave notice: of intention to approve an amend-
ment to the contract between the said governing~body and the Board of
Administration of the Public Employees' Ret r6ment System, a. copy. of
said amendment being attached hereto, all "Exhibit" and _by this re-
ference:made o part hereof.
Q-9n g:a1kt--�
�3Af�1E
Mayor, City of.West Covina
(TITLE)�
July 25, 1983
Bate adopted and ;approved
• J CERTIFICATION OF GOVERNING BODY'S ACTION
I hereby certify that the foregoing is a true and correct copy
of a Resolution adopted by the City Council
(Governing Body)
of the _City of West Covina ,
(Name of Public Agency)
on _ ,Jul 25, 1983 appearing at Page
(Date)
Volume N/A. of the (Minutes) (Official Records) of.the
City_ Council
(Governing Body)
ICJ((deputy
CITY CLEV or
Secretary of fhe.Board
•
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PEKS-CON-12 01/77)
AMENDMENT TO CONTRACT
BETWEEN THE
BOARD OF ADMINISTRATION
OF THE 11
PUBLIC EMPLOYEES' RETIREMENT,SYSTEM
•
AND THE
CITY COUNCIL
OF THE
CITY OF WEST COVINA
_
The Board
of Administration 0 uS Employees' Retirement System, herein-
after referred
to as Board, and the %r body of above public agency, here-
inafter referred
to as Public Agency, havie d into a contract effective
July 1, 1966,
and witnessed May 26, 1966, and as fed effective November 1,
1968,'October
1, 1970, September 16, 1977, December 11, 1978, January 1, 1979,
and June 1, 1983,
which provides for participation of Public Agency in said
System, Board
and Public Agency hereby agree as follows:
•
A. Paragraphs
1 through 11 are hereby stricken from said contract as executed
effective
June 1, 1983, and hereby replaced by the following paragraphs
numbered 1
through 15 inclusive:
1. All words and terms used herein which are defined in the Public Employ-
ees' Retirement Law shall have the meaning as defined therein unless
otherwise specifically provided. "Normal retirement age" shall mean
age 60 for local miscellaneous and age 55 for local safety members.
2. Public Agency shall participate in the Public Employees' Retirement
System from and after July 1, 1966 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 such as ty express
provisions thereof apply only on the election of contracting agencies.
3. Employees of Public Agency in the following classes shall become mem-
bers of said Retirement System except such in ea^h such class as are
excluded by law or this agreement:
a. Local Firemen (herein referred to as local safety members);
b. Local Policemen (herein referred to as local safety members);
• c. Employees other than local safety members (herein referred to as
local miscellan,,eous 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:
a. PERSONS COMPENSATED ON AN HOURLY BASIS; AND
b. EMPLOYEES AND FORMER EMPLOYEES RETAINING RIGHTS OR RECEIVING
BENEFITS ON ACCbUNT OF RETIREMENT FOR SERVICE UNDER THE LOCAL
SYSTEM AS OF CONTRACT DATE.
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P�FAs�
5. Benefits being 1% eAd, under the local system on contract date by per-
sons retired for disal5l��ty shall be continued by the Public Employ-
ees' Retirement System at ate provided in the local system in
accordance with Section 20520 bf ,/said Retirement Law, saidrate
being constituted as follows:
• i
a. A monthly lifetime allowance in the Mount of one-half of the re-
tired person's basic salary at the date of disability retirement
reduced by the workers' compensation payment, each month during
the retired person's entitlement to such payment.
b. A $500 death benefit payable upon death of the retired person
described above.
6. Public Agency in accordance with Section 20605.5.0f the Government
Code shall provide that the normal rate of contribution, for those
employees who were members of the Local Retirement System, be based on
age at entry into said local system.
T. Assets heretofore accumulated with respect to members in the local re-
tirement system have been transferred to the Public Employees' Retire-
ment System and applied against the liability for prior service in-
curred thereunder. That portion of the assets so transferred repre-
senting the accumulated contributions (plus interest thereupon) re-
quired of the employees under said local system has been credited to
the individual membership account of each such employee under the
Public Employees' Retirement System.
8. The fraction of final compensation to be provided for each year of cre-
dited prior and current service as a local miscellaneous member shall
be that provided in Section 21251.13 of said Retirement Law with all
service prior to Social Security termination March 31, 1970, subject
to the reduction provided by said section (2% @ 60 Full and Modified)..
9. The fraction of final compensation to be provided for each year of cre-
dited prior and current service for local safety members who elect to
continue under the provisions of Section 21252.1 within 90 days of
this amendment to contract shall be determined in accordance with
Section 21252.1 of said Retirement Law (One-half pay at age 55 Full).
10. The fraction of final compensation to be provided for each year of cre-
dited prior and current service for local safety members who do not
elect to continue under the provisions of Section 21252.1 within 90
days of this amendment to contract shall be determined in accordance
with Section 21252.6 of said Retirement Law (2% at age 55 Full).
O �
1
11. The following additional provisions of the Public Employees' Retire-
ment Law which apply only upon election of a contracting agency shall
apply to the Public Agency and its employees:
a. Sections 21380-21387 (1959 Survivors Program) eacludin� Section
21382.2 (;Increased 1959 Survivors benefits).
0
Piz �,.•
b. Section A 2�(�ge 50 voluntary retirement) for local safety
members only. IIyyQT $/GA,
C. Section 21361.5.(Local Syste�'"B%Ee Credit) for local
miscellaneous members only. OkiY"
• d. Section 21389 (Second opportunity.to elect 1959 coverage) for-
locAl miscellaneous members only.
e. Section 20818 (Additional service credit), Statutes of 1976.
f. Sections 21263/21263.1 (Post -retirement survivor allowance) for
local safety members only.
g. Section 20OZ4.2 (One-year final compensation) for local safety
members only.
12. Public Agency, in accordance with Section 20740, Government Code, ceas-
ed to be an "employer" for purposes of Chapter 6 of the Public Employ-
ees' Retirement Law effective on September 16, 1977. Accumulated
contributions of Public Agency as of the aforementioned date 'shall be
fixed -and determined as provided in Section 20759, Government Code,
and accumulated contributions as of the aforementioned datc and
contributions`thereafter made shall be held -by the Board as provided
in Section 20759, Government Code.
13. Public Agency shall contribute to said Retirement System as follows:
a. With respect to miscellaneous biembers, the agency Shall contri-
bute the following percentages of monthly salaries earned as mis-
cellaneous members of said Retirement System-
1 .714 percent until June 30, 2000,on account of the
liability for prior service benefits. f
(2). 11.842 percent until June 30; 2000 on account of the
liability -for current service benefits.
b. With respect to local safety members, the agency shall contribute
-.-the following percentages of monthly salaries earned as local
safety members of said Retirement'System:
(1) '3.076 percent until June.30, 1996 on account of the
liability for prior service benefits.
dw
• (2) 22.898 percent until June 30, 2000 on account of the
liability for current service benefits.
c. A reasonable amount, as fixed by the Board, payable in one instal-
lment within 60 days of date•of'contract to cover the costs of ad-
ministering said System as it affects the employees'of Public Ag-
ency, not including the costs of special valuations or of the per-
iodic investigation and valuations required by law.
d. iA reasonable amount as fixed by the Board, payable in one instal-
lment as the occasions arise, to cover the costs of special valua-
tions on account of employees of Public Agency, and costs of the
periodic investigation and valuations required by law.
14• Contributions required of Public Agency and its employees shall be sub-
ject to adjustment by Board on account of amendments to the Public Em
ployees',Retirement Law, and on account of the experience under the Re-
tirement System as determined by the periodic investigation and valua-
tion required by said Retirement Law.
15. Contributions required of Public Agency and its employees shall be
paid by Public Agency_to the Retirement System within thirty days af-
ter 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, or adjust-.
ments on account of errors in contributions required of any employee
may be made by direct cash payments between the employee and the
• Board. Payments by Public Agency to Board may be made in the form of
warrants, bank checks, bank drafts, certified checks, money orders or
cash.
B. This amendment shall be attached to said contract and shall be effective on
the day of 19
Witness our hand's the day of , 19
BOARD OF ADMINISTRATION CITY COUNCIL
PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF THE
CITY OF WEST COVINA
BY ° �0T SlGt4 ,,
CARL J. BLECHINGER, EXECUTIVE OFFICER
1�sfficer
Approved as to form Attest:
Margaret J. oehn, L 1 Office' Date T�� �
Clerk
PERS CON-702
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