HomeMy WebLinkAbout20066 - RESOLUTIONS - 6/6/2001 RESOLUTION NO. 20066
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 CALIFORNIA
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' Retirement 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 21363.1 (3% @ 55 Full formula)for local police
members only.
NOW, THEREFORE, BE IT RESOLVED that the governing body of the above agency
does hereby give notice of its 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 the City Clerk.
ADOPTED this 6th day of June, 2001.
AYES: Members Oden, Reller-Spurgin and Mayor &leindienst
NOES: Members Hodges and Jones
ABSENT: None
ATTEST: Q
CITY OF PALM SP� CALI 0 NIA
or
CITY CLERK CITY MANAG
REVIEWED & APPROVED:
Resolution 20066
Page 2
Ca1PERS ,
EXHIBIT
California
Public Employees' Retirement System
AMENDMENT TO CONTRACT
Between the
Board of Administration
California ]Public Employees' Retirement System
and the
City Council
City of]Patin Springs
The Board of Administration, California Public Employees' Retirement System,
hereinafter referred to as Board, and the governing body of the above public agency,
hereinafter referred to as Public Agency, having entered into a contract effective
January 5, 1957, and witnessed December 3, 1956, and as amended effective July 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, April 18,
1998, August 23, 1998 and April 18, 1999 which provides for participation of Public
Agency in said System, Board and Public Agency hereby agree as follows:
A. Paragraphs 1 through 12 are hereby stricken from said contract as executed
effective April 18, 1999, and hereby replaced by the following paragraphs
numbered 1 through 13 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 55 for local miscellaneous members and age 50 for local fire
members and age 55 for local police members.
Resolution 20066
Page 3 PLEASE DO NOT SIGN "EXHIBIT ONLY"
2. Public Agency shall participate in the Public Employees' Retirement
System from and after January 5, 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 Police Officers (herein referred to as local safety members);
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 employees shall not become
' members of said Retirement System:
NO ADDITIONAL EXCLUSIONS
5. The percentage of final compensation to be provided for each year of
credited prior and current service for local miscellaneous members shall
be determined in accordance with Section 21354 of said Retirement Law,
subject to the reduction provided therein for service prior to December 31,
1974, termination of Social Security, for members whose service has been
included in Federal Social Security (2% at age 55 Full and Modified).
6. 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 21362 of said Retirement Law (2%
at age 50 Full).
7. The percentage of final compensation to be provided for each year of
credited prior and current service as a local police member shall be
determined in accordance with Section 21363.1 of said Retirement Law
(3% at age 55 Full). The required member contribution rate is 9% of
reportable compensation.
Resolution 20066 PLEASE DO NOT SIGN "EXHIBIT ONLY"
Page 4
8. Public Agency elected and elects to be subject to the following optional '
provisions:
a. Sections 21624, 21626 and 21628 (Past-Retirement Survivor
Allowance).
b. Section 21024 (Military Service Credit as Public Service), Statutes
of 1974.
C. Section 20042 (One-Year Final Compensation).
d. Section 20965 (Credit for Unused Sick Leave).
e. Section 21574 (Fourth Level of 1959 Survivor Benefits).
9. Public Agency, in accordance with Government: Code Section 20790,
ceased to be an "employer" for purposes of Section 20834 effective on
September 5, 1976. 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.
10. 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 members and local safety members of said
Retirement System.
11. Public Agency shall also contribute to said Retirement System as follows:
a. Contributions required per covered member on account of 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 term insurance rates, for survivors of all
local miscellaneous members and local safety members.
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.
Resolution 20066
Page 5
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. Adjustments 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
BOARD OF ADMINISTRATION CITY COUNCIL
PUBLIC EMPLOYEES' RETIP&JMENT SYSTEM CITY OF PALM SPRINGS
BY O BY
' KENNETH W. MARZIO HIEF PRESIDING OFFICER O�
ACTUARIAL & EMPL SERVICES DIVISION
PUBLIC EMPLOYEE ETIREMENT SYSTEM
All
C� Witness Date
O=O Attest:
O
O
QvQ� Clerk
AMENDMENT
PERS-CON-702A(Rev. 8\96)
Resolution 20066 Page 6
CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM
Actuarial and Employer Services Division
Public Agency Contract Services
P.O. Box 942709
Sacramento, CA 94229-2709 '
(916) 326-3420
CERTIFICATION OF GOVERNING BODY'S ACTION
I hereby certify that the foregoing is a true and correct copy of a Resolution adopted by the
ofthe
(governing body)
(public agency)
on ,(date)
Clerk/Secretary
Title
PERS-CON-12 (rev. 1/96)
Resolution 20066 Page 7
CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM
Actuarial and Employer Services Division
Public Agency Contract Services
P.O. Box 942709
Sacramento, CA 94229-2709
(916) 326-3420
CERTIFICATION OF COMPLIANCE WITH
GOVERNMENT CODE SECTION 7507
1 hereby certify that 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
of the
(governing body)
' (public agency)
on which is at least two weeks prior to the adoption of the
(date)
Resolution / Ordinance.
Clerk/Secretary
Title
Date
PERS-CON-12A(rev. 1/96)
Resolution 20066 Page 8
CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM
Actuarial and Employer Services Division
Public Agency Contract Services
P.O. Box 942709
Sacramento, CA 94229-2709 '
(916) 326-3420
CERTIFICATION OF MEMBER CONTRIBUTION RATE
I hereby certify that the City of Palm Springs and its police employees understand and
agree that the required member contribution rate for members :subject to Section
21363.1 (3% @ 55 Full formula) is 9% of reportable compensation.
Signature of Governing Body Presiding Officer '
g 9
Title
Witness
Date
3% @50/ 3% @55
Full/Supplemental formula