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HomeMy WebLinkAboutRES NO 88-78 RESOLUTION NO. 88-78 RESOLUTION OF 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 BAKERSFIELD. 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 procedure to amend this contract is the adoption by the legislative 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 21222.85 (One time 3%-15% increase to pre-l-l-74 retirees). NOW, THEREFORE, BE IT RESOLVED, that the governing body of the above agency gives, and it does hereby give notice of intention to approve an amendment to the contract between the said governing body and the Board of Administration of the Public Employees' Retire- ment System, a copy of said amendment being attached hereto, as an "Exhibit" and by this reference made a part hereof. -o0o I HEREBY CERTIFY that the foregoing Resolution was passed and adopted by the Council of the City of Bakersfield at a regular meeting thereof held on the 9th day of August, 1978, by the following vote: AYES: COUNCILMEN BARTON, CHRISTENSEN, MEDDERS, ~J,T~, ROGERS, SCF.~LES, STRONG NOES: COUNCILMEN: ikiC)~-- ABSENT: COU C,L N: ABSTAINING COUNCILMEN: ~ID N P; CITY C~Ka~?n/ fici0 Clerk of Council of t~jBakersfield ~~~rsfield AP P ROVED' ~a-s - ~o~Fo rm: /~w~~J the~~ f ,CITY ATTORNEY of akersfield the ~NDbtENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION PUBLIC ~{PLOYEES' RETIREMENT SYSTF. M AND THE CITY COUNCIL OF THE CITY OF BAKERSFIELD The Board of Administration, Public Employees' Retirement System, herein- after referred to as "Board", and the governing body of above public agency, hereinafter referred to as "Public Agency", having entered into a contract under date of July 17, 1944, effective August 1, 1944, and as amended effective January 1, 1950, November 1, 1957, October 1, 1958, April 1, 1965, October 1, 1967, January 1, 1971, June 26, 1972, January 22, 1973, May 23, 1973, September 19, 1973, April 24, 1974, January 1, 1977, which provides for participation of Public Agency in said System, Board and Public Agency hereby agree as follows: AO Paragraphs 1 through 11 are hereby stricken from said contract as executed effective June 26, 1972, and hereby replaced by the following paragraphs number 1 through 11 inclusive: 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 miscellaneous members and age 55 for local safety members. Public Agency shall participate in the Public Employees' Retirement System from and after August 1, 1944, 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 by express provisions thereof apply only on the el. ection of contractin~ agencies. 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 Policemen (herein referred to as local safety members); b. Local Firemen (herein referred to as local safety members); c. Employees other than local safety members (herein referred to as 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: EXCLUDE PERSONS HIRED ON OR AFTER. bb~Y 23, 1973, l~O ARE Eb~LOYED ON A TFj. LPORARY BASIS IF IT IS A CONDITION OF E~{PLOYMENT AT THE TIME OF HIRE TlblT SAID E~iPLOY~NT NOT EXCEED SIX MONTHS. CON-702-1 L 0 . WHO.-WAIVED RIGHTS UNDER THE LOCAL SYST'DI· EXCLUDE ALL PERSONS EMPLOYED AS "SCHOOL CROSSING GUARDS" AND ALL PERSONS k~{PLOYEI) AS "POLICE CADETS" WHO ARE HIRED ON OR AFTER FEBRUARY 1, 1974. Assets heretofore accumulated with respect to mex~ers in the local Retirement System upon contract date who waived their rights under that system shall be transferred to the Public Employees' Retirement System upon the effective date of this contract and applied against the liability for prior service incurred hereunder. That portion of the assets so transferred whid~ represents the accumulated contributions (plus interest thereupon) required of the employees under said local system shall be credited to the individual membership account of each such employee under the Public Employees' Retirement System. The fraction of final compensation to be provided for each year of credited prior and current service as a miscellaneous member shall be determined in accordance with Section 21251.13 of said Retirement Law (2% at age 60). The fraction of final compensation to be provided for each year of credited prior and current service as a safety member shall be determined in accordance with Section 21252.1 of said Retirement Law (One-half pay at age 55). The following additional provisions of the Public ~nployees' Retirement Law which apply only upon election of a contracting agency shall apply to the Public Agency and its employees: Section 20952.5 (providing for age 50 as the minimum voluntary retirement age for local safety members, with benefit payments commencing prior to age 55 subject to actuarial discount). Section 21361.5 (providing tlmt years of service rendered as a member of the Bakersfield Fire Department Disability and Retire- ment System prior to the effective date of this amendment to contract shall be included in the computation of the basic death benefit provided in Section 21361 upon the death of any member who was also member of said Local System). Sections 21263 and 21263.1 (providing upon the death of a member who retired for service or disability for continuance of a post-retirement survivor allowance to certain survivors), for Local Safety. Sections 21380-21388 (providing for allowances for survivors of members covered under the 1959 Survivor's Program upon the member's death before retirement). Section 21222.1 (providing a five-percent increase in allowance to which the annual cost-of-living provisions apply, payable for time commencing on the first day of the calendar month coinciding with or next following the effective date of the amendment to add this section to this contract, to or on account of members retired or deceased on or prior to December 31, 1970)· CON-702-2 Section 21 6 (providing a fifteen-percen ncreasd in ~ '~llowances to which the annual cost-of-living provisions apply, payable for time commencing on the first day of t'he calendar month coinciding with or next following tile effective date of the amendment to add this section to this contract, to or on account of certain miscellaneous members retired or deceased prior to July 1, 1971). Section 21222.85 (providing increases ranging from 3% to 15%, depending on date of retirement or death, in allowances to w~ich the annual cost-of-living provisions apply, payable for time commencing on the first day of the calendar month coinciding with or next following the effective date of the mnendment to add this section to this contract, to or on account of members retired or deceased on or prior to December 31, 1973). Public Agency, in accordance with Section 20740, Govermnent Code, ceased to be an "employer" for purposes of Chapter 6 of the Public Employees' Retirement Law effective on January 1, 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 afore- mentioned date and contributions thereafter made shall be held by the Board as provided in Section 20759, Government Code. 9. Public Agency shall contribute to said Retirement System as follows: ae With respect to miscellaneous members, the agency shall contribute the following percentages of monthly salaries earned as miscellaneous members of said Retirement System: (1) 1.044 percent until June 30, 1980 on account of the liability for prior service benefits. (2) 11.371 percent on account of the liability for current service benefits. (3) 0.242 percent on account of the liability for the 1959 Survivor Program. (4) 0.400 percent until September 30, 1978 on account of the liability for the benefits provided under Section 21222.1 of said Retirement Law. 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) 1.320 percent until June 30, 2002 on account of the liability for prior service benefits. (2) 16.213 percent on account of the liability for current service benefits. (3) 0.660 percent until September 30, 1978 on account of the liability for the benefits provided under Section 21222.1 of said Retirement Law. CON-702-3 A reasona] amount per annum, as fixed. Boar~ to Aver the costs of administering said System as it affects the employees of Public Agency, not includ~lg the costs of special valuations or of the periodical 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 periodical investigation and valuations required by law, 10. 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 periodical investigation and valuation required by said Retirement Law. 11. Contributions required of Public Agency and its employees shall be paid by Public Agency to the Retirement System within thirty 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, or adjustments 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 hands this day of BOARD OF ADMINISTRATION PUBLIC EMPLOYEES' RETIREmeNT SYST~{ CITY COUNCIL THE .TY OF BAKERSFIELD , 19 BY Carl J. Blechinger, Executive BY Presiding Officer Approved as to form: Attest: Legal Office, PERS ~lerk CON-702-4 CERTIFICATION OF GOVERNING BODY'S ACTION I her'eby certify that the foregoing is a true and correct copy of a Resolution adopted by the (Governing Bojy) ' of the (Name of Publ ic Agency) "' On (Date) , appearing at Page Volume of the (Minutes) (Off. icial Records) of the (Governing Body) CITY CLERK or Secretary of the Board PERS-CON-12 (~1/77)