HomeMy WebLinkAbout20285 - RESOLUTIONS - 2/27/2002 RESOLUTION NO. 20285
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 21354.5 (21% @ 55 Full and Modred formula)for local '
miscellaneous members.
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 27th day of February 2002.
AYES: Members Mills, Oden, Heller-Spurgin and Mayor Kleindienst
NOES: None
ABSENT: None
�TTEST n CITY OF PALM SPRING-S,-CA IIFORNIA
CITY CLERK CITY MANAGER
REVIEWED&APPROVED: '
' 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 Palm Springs
1
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 1, 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, April 18, 1999 and August 19, 2001 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 August 19, 2001, 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, age 50 for local fire
members and age 55 for local police members.
PLEASE DO NOT SIGN "EXHIBIT ONLY"
2. Public Agency shall participate in the Public Employees' Retirement
System from and after 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 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 21354.5 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 (2.7% at age 55 Full
and Modified).
[Note that legislation has been proposed that could amend
Government Code Section 21354.5 to make the 2.7% at 55 benefit
formula applicable to both active members and inactive members
who have not yet retired. If enacted, this amendment could have an
effect on your agency's ',actuarial valuation and employer
contribution rates in future yea'rs.]
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). '
PLEASE DO NOT SIGN "EXHIBIT ONLY"
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).
8. 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 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.
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
11
BOARD OF ADMINISTRATION , CITY COUNCIL
PUBLIC EMPLOYEES' RETIREMENTEM CITY OF PALM SPRINGS '
BY &`� BY
KENNETH W. MARZION, CHI PRESIDING OFFICER
ACTUARIAL & EMPLOYEIVICES DIVISION
PUBLIC EMPLOYEES' I�T EMENT SYSTEM
Witness Date��\
Attest: O�
G�
O
\/<, rk
1
AMENDMENT
PERS-CON-702A(Rev.8\96)
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
City Council ofthe
(governing body)
City of Palm Springs, California
' (public agency)
on February 27. 2002 which is at least two weeks prior to the adoption of the
(date)
Resehttio / Ordinance.
C erk/Secretary
City Clerk
Title
PERS-CON-12A(rev. 1196)
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
City Council ofthe
(governing body)
City of Palm Springs, California
(public agency)
on February 27, 2002 ,
(date)
Cler Secretary
City Clerk
Title
1
PERS-CON-12(rev. 1/96)