HomeMy WebLinkAbout19183 - RESOLUTIONS - 1/21/1998 RESOLUTION NO. 19183
OF THE CITY COUNCIL OF THE CITY OF
PALM SPRINGS, CALIFORNIA, DECLARING
ITS INTENTION TO APPROVE AN
AMENDMENT TO CONTRACT BETWEEN THE
BOARD OF ADMINISTRATION OF' THE '
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
AND THE CITY COUNCIL OF THE CITY OF
PALM SPRINGS .
WHEREAS the Public Employees' Retirement Law permits the
participation of public agencies and their employees in the Public:
Employees' Retiremen1t system by the execution 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 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 21574 (Fourth Level of 1959 Survivor '
Benefits) for local miscellaneous and local fire members
only.
NOW THEREFORE BE IT RESOLVED that the governing body of the above
agency does hereby give notice of intention to approve an amendment
to the contract between said public agency and the Board of
Administration of the Public Employees' Retirement System, a copy
of said amendment being attached hereto, as an "Exhibit" and by
this reference made a part hereof, as on file in the office of Lhe
City Clerk.
ADOPTED this 21st day of January, 1998 .
AYES : Members Barnes, Hodges, Oden and Mayor Kleindienst
NOES : None
ABSENT: Member Reller-Spurgin
ATTEST: �) CITY F PALM SP NZQUIFORNTA
By
[-City Clerk Cit anagei '
REVIEWED & APPROVED:
EXHIBIT
AMENDMENT TO CONTRACT
BETWEEN THE
BOARD OF ADMINISTRATION
OF TIIE
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
AND THE
CITY COUNCIL
OF THE
CITY OF PALM SPRINGS
The Board of Administration, Public Engiloyees' Retirement System, hereinafter referred to as
Board, and the governing body of above public agency, hereinafter referred to as Public Agency,
having entered into a contract effective January 1, 1957, and witnessed December 3, 1956, and as
amended effective .luly 14, 1965, January 14, 1973, January 1, 1975, September 5, 1976, July 10,
1977, October 15, 1978, April 29, 1979, February 27, 1983, July 1, 1984, June 29, 1986 which
provides for participation of Public Agency in said System, Board and Public Agency hereby
agree as follows:
A. Paragraphs I through 1 I are hereby stricken from said contract as executed effective June
29, 1986, and hereby replaced by the following paragraphs numbered I through 12
inclusive:
1. All words and terms used herein which are defined in the Public Employees'
Retirement Law shall have the meaning as defined therein unless otherwise
specifically provided. "Normal retirement age" shall mean age 60 for local
miscellaneous members and age 50 for local safety members.
2. Public Agency shall participate in the Public Employees' Retirement System froni
and alter January 1, 1957 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 Poll°°ice Officers (herein referred to as local safety mernbers);
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 employces shall not become members of
said Retirement System:
NO ADDITIONAL EXCLUSIONS
5. The percentage of final compensation to be provided for local miscellaneous
members for each year of credited prior and current service shall be determined in
accordance with Section 21353 of said Retirement Law, subject to the reduction
provided therein for service prior to December 31, 1974, termination of Social
Security coverage, for members whose service has been included in Federal
Social Security (2% at age 60 Full and Modified).
6. The percentage of final compensation to be provided for each year of credited
prior and current service as a local safety member shall be determined in
accordance with Section 21362 of said Retirement Law (2% at age 50 Full).
7. Public Agency elected and elects to be subject to the following optional
provisions,
a. Sections 21624, 21626 and 21628 (Post-Retirement Survivor Allowance).
b. Section 21571 (Basic Level of 1959 Survivor Benefits) for local police '
members only.
C. Section 21024 (Military Service Credit as Public Service), 'Statutes of
1974.
d. Section 20042 (One-Year Final Compensation).
e, Section 20965 (Credit for Unused Sick Leave) for local fire members only.
f. Section 21574 (Fourth Level of 1959 Survivor Benefits) for local
miscellaneous and local fire members only.
8. Public Agency, in accordance with Government Code Section 20790, ceased to be
an "employer" for purposes of Section 20834 effective on September 5, 1976.
V' /J-3
5�f
Accumulated contributions of Public Agency shall be fixed and determined as
provided in Government Code Section 20834, and accumulated contributions
thereafter shall be held by the Board as provided in Government Code Section
20834.
9. Public Agency shall contribute to said Retirement System the contributions
determined by actuarial valuations of prior and future service liability with respect
to local miscellaneous and local safely nreutbers of said Retirement System.
10. Public Agency shall also contribute to said Retirement System as follows:
a. Per covered metrnber, $3.50 per month on account of the liability for 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 employees shall be pooled in a single account,
based on tern) insurance rates, for survivors of all local miscellaneous and
local five members only.
b. A reasonable amount, as fixed by the Board, payable in one installment
within 60 days of 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.
C. 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.
It. 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 oil account of the experience under the Retirement System
as determined by the periodic investigation and valuation required by said
Retirement Law.
12. Contributions required of Public Agency and its employees shall be paid by
Public Agency to die 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. Adjustments on account of errors in contributions required of any
employee may be made: by direct payments between the employee and the Board.
B. Tws amendment shall be effective on the day of_ _, 19_
BOARD OF ADMINISTRATION CITY COUNCIL
PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF THE
CITY OF PALM SPRINGS
BY /' � BY
KENNE'fH W. I�fr�.,N, CHIEF PRESIDING OFFICER
ACTUARIAL &EM f.CT+W SERVICES DIVISION
PUBLIC EMPLOYEES' RIfi*BMFNT SYSTEM
Witness Date
Attest: '
Clerk
AMENDMENT
PERS-CON-702A(Rev.8\96)