HomeMy WebLinkAboutResolution No. 5234RESOLUTION NO. 5234
RESOLUTION OF INTENTION TO APPROVE AN
AMENDMENT TO CONTRACT 6ETWEEN THE
BOARD OF ADMINISTRATION OF THE
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
AND THE
CITY COUNCIL
OF THE
CITY OF SAN RAFAE L
WHEREAS, the Public Employees' Retirement Law permits the participation
of public agencie§ .and their employees in the Public Emplpyees
Retirement System by the execution , of a' contr. act; 4LnO sets forth
the procedure by which said pyblic agenciep may elect, to subject
themselves and their em„PlQY*0s tQarl�erlrlerjtS to5�id law; and
WHEREAS, one of the steps in the procedyrIpp t -fiend this gorltrapt is the
adoption by the legislative body. a_ .the .pukitie agengy ,,qf a resolu-
tion giving notice of its inten#Qn , o'e�ppr to qr'I ac BrKlrn�eht to
said cantrect; vwhicj resglytion. shall 40;%tain A.,#urnm;ir Of the
change propgsed in said c04'r"'; Anct:
WHEREAS,, the fplipyving is � etatexnent'of't�!� Pt�opAe�+d•.��!S�� 3
Provides find,comPer►satitA�n'or, th.o
of i year inst4ad of 3 # e,,,
NOW, THEREFORE,. BE IT RESQt,.VED, that the+, governing t�od�i of the a�bo�✓e
agaric gives, and f does h�rrelait1e 'nQti Of `i^►tr�tic�n t .
y ov rn- .
aPProve amendment tq tM�' Gy�,tr�►c1: 4et,1^+eet�' the si4� Q ,
tng body ana the Board Q rr, iw... n plo w!
f Ad i ti4 ial�- 4he W 11i:Q} 1`i
ttr oment Eyster'na a cgpy oi` A4 e�romern� t?6nQ st
hereto e►s ',Exhibit" and,,by t.hi4i r�efQr*,,*nc.' mode ;►gip ;t?t' hereof.
CITY COUNC"rll..:
OF T"E
CITY OF SAN 'RAFAEL
Jay
(Name
Ma or
(Title)
December 20, 1976 Ret. Form 122
(Date adopted and approved)
AMEN' 4ENT TO CONTRACT BETW" THE
_BOARD OF ADMINISTRATIO
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
AND THE
CITY COUNCIL
CITY OF SAN RAFAEL
The Board of Administration, Public Employees' Retirement System, hereinafter
referred to as Board, and the CITY COUNCIL of the CITY OF SAN RAFAE L, hereinafter
referred to as Public Agency having entered into a contract under date of June 20, 1957,
effective July 1, 1957, as amended effective December 1 , 1957, January 1, 1958, March 2
1959, January 1, 1969, October Is 1959, March Is 1971s October Is 1973 and .July 1, 1974
which protides for participation of Public Agency in said System, Board and Public Agency
hereby agree as follows:
A. The following subparagraph shall be added to Paragraph 6 of said
contract:
6. Section 20862.8 (providing service credit at retirement for
unused sick leave).
6.(g) Section 20024.2 (defining "final compensation" on the basis
of average compensation earnable during the year immediately
preceding retirement or any other one year period elected by
the member).
B. Paragraph 6.5 shall be added to said contract:
6.5 Public Agency, in accordance with Section 20740, Government
Code, shall cease to be an "employer" for purposes of Chapter
6 of the Public Employees' Retirement Law effective as of the
effective date of this amendment to this contract. Accumulated
contributions of the Public Agency as of the date of such amend-
ment shall be fixed and determined as provided in Section 207598,
Government Code, and such accumulated contributions and
contributions hereafter made shall be held by the Board as
provided in Section 20759, Government Code.
c. Paragraph 7(a) shall be stricken from said contract and the following
paragraphs shall be substituted therefor:
7. Public Agency shall contribute to said Retirement System as
f ollows:
a. With respect to miscellaneous members, the Public Agency
shall contribute the following percentages of monthly salaries
earned as miscellaneous members of said System:
(1) 1 .514 percent until June 80, 2000 on account of the
liability for prior service benefits.
(2) 11.956 percent on account of the liability for current
service benefits.
Ret. Form 70:' 1
(3) 0.300 percent on account of the liability for the 1959
Survivors program.
(4) 0.130 percent until June 30, 2000 to provide the beneft t:,
under Section 21222.1 of the Government Code.
b. With respect to local safety members, the public agency
shall contribute the following percentages of monthly
salaries earned as local safety members of said System:
(i) 1 .084 percent until June 30, 2000 on account of the
liability for prior service benefits.
(2) 14.714 percent on account of the liability for current
service benefits.
(3) 0.210 percent until June 00, 2000 to provide the
benefits under Section 21222.1 of the Government
Code.
D. This amendment shall be attached to said contract and shall become effective
on the 1st day of March, 1977 .
Witness our hands this day of
BOARD OF ADMINISTRATION
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
BY
Carl J. Blechinger, Executive Officer
Approved as to form:
Legal Office, P. E. R. S.
CITY COUNCI L
OF THE.
CITY OF SAN RAFAE L
BY
Presiding Officer
Attest:
Clerk
Ret. Form 70"-.'
CERTIFICATION OF GOVERNING BODY'S ACTION
I, MARION A. GRADY, City Clerk of the City of San Rafael, hereby
certify that the foregoing resolution was duly and regularly introduced
and adopted at a regular meeting of the City Council of said
City held on Monday the 20th day of December
19 76 , by the following vote, to wit:
AYES:
NOES:
ABSENT:
COUNCILMEN: Jensen, Mi$kimen, Mulryan, Nixon & Mayor Beti
COUNCILMEN: None
COUNCILMEN: None
MARIQN A. 'GRADY -- Gita erk
RESOLUTION NO. 5234
I,LSOLUT1011 OF Iid'iLNTION TO APPROVE Aid
tV1LLiDHZi;T TO CONTRACT BI-AWEE11 THE
iWA1W OF AD! [I:iISMATION OF 'ME
PUBLIC L --Ti LOYEL'S' 1'ILTII'MIEi4T SYSTEM,
!! lIil THL
CITY COU:dCIL
OF TIM
CITY OF SAN P.AFAEL
1411EI: AS, the Public Employees' I:etirement Law permits the participation of
public agencies and their employees in the Public Employees'
;Zetirement System by the execution of a contract, and sets fortis the
procedure by which said public agencies may elect to subject them-
selves and their employees to amendments to said law; and
WHErXAS, one of the steps in the procedure to amend this contract is the
adoption by the legislative body of the public agency of a resolu-
tion 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:
1. Provides final compensation on the basis of 1 year
instead of 3 years.
2. Provides service credit at retirement for unused sick-
leave.
ickleave.
NOW, THER4FOR�, BE IT RESOLVED, thpt the governing body of the above agency
gives, and it does heret�y give notice of intention to approve an
amendment to the contr tt between the said governing body 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.
CITY COUNCIL
OF THE
CITY OF SAN RAFAEL
BY
(Name)
(Title)
(Date adopted and approved) Ret. Form 122
AMENDMENT TO'CONTRACT•`BE'Jd' -THE
BOARD OF ADMINISTIU. TION
PUBLIC 12.1PLOYEES' RETIRU--ENT SYSTEM
AND THE
CITY COUNCIL
CITY OF SAN RAFAEL
The Board of Administration, Public Employees' Retirement System, hereinafter
referred to as Board, and the CITY COUNCIL of the CITY OF SAN RAFAEL, hereinafter
referred to as Public Agency having entered into a contract under date of June 20,
1957, effective July 1, 1957, as amended effective December 1, 1957, January 11 1958,
March 2, 1959, January 1, 1969, October 1, 1969, March 1, 1971, October 1, 1973 and
July 1, 1974, which provides for participation of Public Agency in said System, Board
and Public Agency hereby agree as follows:
A. The following subparagraph shall be added to Paragraph 6 of said
contract:
6.(f) Section 20862.8 (providing service credit at retirement i'dr
unused sick leave).
6.(g) Section 20024.2 (defining "final compensation" on the basis
of average compensation earnable during the year immediately
preceding retirement or any other one year period elected by
the member).
B. Paragraph 6.5 shall be added to said contract:
6.5 Public Agency, in accordance with Section 20740, Government
Code, shall cease to be an "employer" for purposes of Chapter
6 of the Public Employees' Retirement Law effective as of the
effective da.te of this amendment to this contract. Accumulated
contributions of the Public Agency as of the date of such
amendment shall be fixed and determined as provided in Section
20759, Government Code, and such accumulated contributions and
contributions hereafter made shall be held .by the Board as
provided in Section 20759, Government Code.
C. Paragraph 7(a) shall be stricken from said contract and the following
paragraphs shall be substituted therefor:
7. Public Agency shall contribute to said Retirement System as
follows:
a. With respect to miscellaneous members, the Public Agency
shall contribute the following percentages of monthly
salaries earned as miscellaneous members of said System:
(1) 1.514 percent until June 30, 2000 on account of the
liability for prior service benefits.
(2) 12.218 percent on account of the liability for current
service benefits.
0 Ret. Form 702-1
(3) 0.300 :cent on account of the liabi:. J for the 1959
Survivors program.
(4) 0.130 percent until June 30, 2000 to provide the benefits under
Section 21222.1 of the Government Code.
b.' With respect to local safety members, the public agency shall
contribute the following percentages of monthly salaries earned
as local safety members of said System:
(1) 1.084 percent until June 30, 2000 on account of the liability
for prior service benefits.
(2) 14.964 percent on account of the liability for current service
benefits.
(3) 0.210 percent until June 30, 2000 to provide the benefits under
Section 21222.1 of the Government Code.
D. This amendment shall be attached to said contract and shall become
effective on the day of
Witness our hands this day of
BOARD OF ADMINISTRATION
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
BY
Carl J. Blechinger, Executive Officer
Approved as to form:
Legal Office, P.E.R.S.
CITY COUNCIL
OF THE
CITY OF SAN RAFAEL
BY
Presiding Officer
Attest:
Clerk
0
F
Ret. Form 702w2
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 SAN RAFAEL
(Name of Public Agency) r
on , appearing at Page ,
(Date)
Volume of the (Minutes) (Official Records) of the
CITY COUNCIL
(Governing Body)
CITY CLERK or
Secretary of the Board
PERS-ACT-12 (11/71)
pUIC JWLOYEES' RETIREMENT YSTEM ACTUARIAL VALUATION REPO"
PERS-ACT-14 (1275)
AGENCY NAME:
City of San Rafael EMOYER N0. 0363
Miscellaneous Members
A. Valuation specifications:
1. Valuation "as of" date 7-1-75
2. Formula
3. Normal Retirement Age
4. Final Compensation (years)
5. 1959 Survivors
6. Poet -retirement Survivor Allowance
7. Additional: sick leave credit
B. Agency contribution rate for current
service (as % of member payroll)
a. For retirement benefits
b. For death benefits
c. For unused sick leave
d. For 1959 survivors
e. For SB 135 until 6/30/83
f. Total current service rate
C. Agency contribution for prior service
a. Contribution rate as % of member
payroll until 6/0/2000
D. Total Agency Contributions:
a. Total Agency Contribution Rate:
b. Fee
PROPOSED FORMULA
Present Rate
11. O1
(Pooled)
(Unpooled)
Full 1/50
Full 1/50
,..._�
60
60
3 years
1 year
0.130
0.130
Yes
Yes
11.770
12.648%
Yes
Yes
No
Yes
10„
11. O1
0.220
0.267
,..._�
.._,
0.250
1.000
0.300
0.130
0.130
11.770
12.648%
1.100 1.514
12.870 14.162%
$318.00
KISUK YANG
CHIEF ACTUARY
November 23, 1976 r'
Date
PUBLIC EMPLOYEES' RETIRE'. a SYSTEM ACTUARIAL VALUATION E RT
PERS-ACT-14 (12/75)
AGENCY NAME: City of San Rafael EMPLOYER N0. 0363
Safety Members
A. Valuation specifications:
1. Valuation "as of" date 7-1-75
2. Formula
3. Normal Retirement Age
4, Final Compensation (years)
5. 1959 Survivors
6. Past -retirement Survivor Allowance
7. Additional: sick leave credit
B. Agency contribution rate for current
service (as % of member payroll)
a. For retirement benefits
b. For death benefits
c. For unused sick leave
d. For 1959 survivors
e. For SB 135 until 1983
f. Total current service rate
C. Agency contribution for prior service
a. Contribution rate as % of member
payroll until 6/30/2000
D. Total Agency Contributions:
a. Total Agency Contribution Rate:
b. Fee
November 23, 1976
Date
PROPOSED FORMULA
Present Rate
Full I @ 55 Fill 55
55 55
3 years 1 year
Yes Yes
Yes Yes
No Yes
12.823%
14.652%
0.059
o.o62
..—
0.250
-0-
0e210
0.210
13.092
1.174%
18085 1.084
11.177% 16.25
$261.00
KISUK YANG
CHIEF ACTUARY