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HomeMy WebLinkAboutOrdinance 1256 (MCERA)CLERK'S CERTIFICATE I, MARION A. GRADY, City Clerk of the City.pf San Rafael, and Ex -officio Clerk of the Council of said City do hereby certify that the foregoing Charter Ordinance Mo.1256 entitled: An Ordinance of the City Council of the City of San Rafael terminating the contract between the City Council and the Board of Administration of the California Public Employees' Retirement System and for inclusion of employees of the City of San Rafael in the Marin County Employees' Retirement Association. is a true and correct copy of an ordinance of said City, and was introduced at a regular meeting of the City Council of the City of San Rafael, held on,the 4th day of April 19 77 Published as re- quired by City Charter in the Independent Journal a newspaper printed and published in the City of Sam Rafael and passed and adopted as an ordinance of said City at a regular meeting of the City Council of said City held on the 18th day of April 19 77 by the following vote, to -wit: Ayes: Councilmen: Jensen, Miskimen, Mulryan, Nixon and Mayor Bettini Noes: Councilmen: None Absent: Councilman: None WITNESS my hand and the official s al of the City San Rafael this fo- official of .�' 19 77 MARION A. GRADY, City Clerk RANEE Bl1i_ %Q D.S; - 'a ut City Clerk ORDINANCE 140. 1256 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN RAFAEL TERMINATING THE CONTRACT BETWEEN THE CITY COUNCIL AND THE BOARD OF ADMINISTRATION OF THE CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND FOR INCLUSION OF EMPLOYEES OF THE CITY OF SAN RAFAEL IN THE MARIN COUNTY EMPLOYEES' RETIREMENT ASSOCIATION THE CITY COUNCIL OF THE CITY OF SAN RAFAEL DO ORDAIN AS FOLLOWS: DIVISION 1. The Agreement for Termination of Contract be- tween the City Council and the City of San Rafael and the Board of Administration of the Public Employees' Retirement System and for the inclusion of the employees of the City of San Rafael in the Marin County Employees' Retirement Association is hereby authorized, a copy of said Agreement being attached hereto, marked "Exhibit A", and by such ref- erence made a part hereof as though herein set out in full. DIVISION 2. The Mayor and City Clerk are hereby authorized, empowered, and directed to execute said Agreement for and on behalf of the City. DIVISION 3. This Ordinance shall be published once in full before its final passage in the Independent Journal a newspaper of general circulation, printed, published, and circulated in the City of San Rafael, and shall be in full force and effect thirty (30) days after its final passage. Attest: MARION A. GRADY, City rk ,i /17 C. PAUL BETTINI, Mayor The above and foregoing Ordinance No. 1256 was read and introduced at a regular meeting of the City Council of the City of San Rafael, held on the 4th day of Apri 1977, and ordered passed to print by the following vote, to -wit: AYES: COUNCILMEN: Jensen, Miskimen, Mulryan, Nixon and Mayor Bettini NOES: COUNCILMEN: None ABSENT: COUNCILMEN: None and will come up for adoption as an Ordinance of the City of San Rafael at a r lar meeting of the Council to be held on the I dayof April 1977. MARI N A. GRADY, City C1 k EXHIBIT "AI' 1'M T11"RMIINATI0.1 OF C0171T13A.CT (,.CiY I,UUiiCIh OF TME, (,.I'iY Op 1P; ,A!�L AI4D TILE BOAUD OF AM1I111 TFL.TION _.. IilliLz E:rII LOi)s21S1LETIItir.,L.IIP .,Y..,1E.,, MID `1'1111? 13MIiI) 0?P SUI'EIRVISORS OF TIII: COU'11`PY O L' 0111111 "aM '20 PROVIDE' FURTHER FOR TEE 111CLU'4011 OP TII�; 1?:4PLOYEES OF TID] CITY OF :1!li-1 1VL1`.AE:I'., IT1 `111` IdARII1 COUNTY EN11:1LOYEE31 ASSOCIATI0:1 '1111Ei'1;AS, tale CiLy Council of the City of San Rafael and the Board of Administration, Publ.ii: B;Ilployees' Retirement System entered into a contract pursuant to Sections ,0450-20532, Government Code, for the participation of e:apio3,oes of the City Council of the City of San Rafael as members of the Public Employeeo' I (LIti re)rent System effective July 1, 1957; and, "IfIf •;FIirAS, Section 20;09 of the Government Code provides that the participa- tion of a contraetin,agency in the Public Employees' Retirement System may be te-r.)rlinated if the Board of Administration, Public Employees' Retirement System, the governing, body of the contracting agency and the Board of Supervisors of a county riai.ntaini)) ; a retirement system under the County Employees' Retire- ment Law of 1937 erte.r.• into an agreement for such termination and inclusion of the contracting agency's employees in the County's retirement system; and; I;7'ERLASI the City Council of the City of San Rafael, the Board of Lr. ation, Public LImployeea 1 Retirement System, and the Board of Supervisors of Li:e County of Mnri.n de: -ire to enter into agreement in conformity with Section 20569, Govern_;ont Code. NO'Y, TI1BILWFORES, the City Council. of the' City of San Rafael (hereinafter City), �id tie Board of Supervisors of the County of Marin (hereinafter County), and the Board of Admi.r)_istration, Public Employees' Retirement System (hereinafter System) agree as follows: 1. The contract entered into by and between the City and the System on July 1, 1957, pursuant to Sections 20450-2052, Governqient Code, and amended effective December 1, 1957, January 1, 1958,'March 2, 1959, January 1, 1969, October 1, 1969, 11arch 1, 1971, October 1, 1.973, July 1, 19747 and March 1, 1977, is terminated effective June 30, 1977: 2, Payments Of ullovrances to persons retired, or to beneficiaries of deceased members or of retired persons , under the System based on service as a member while e"APloyed by -the City shall ba made by the System for time through June 30, 1977• PaYMent of any basic death benefit, or lump sum death benefit, r because of death of it member or of a retired person on or before June 30, 197.7 1 shall be made by the, Uystem. 3. The System sliall have no liability for payment of any allowance to or with respect to a retired person for time on and after July 1, 1977, or for pryment of any refund to a member or any benefit because of death of a member on or after July 1, 1977, and all such 1jability shall be assumed by the County. / , Jr t'_ro:' ,nt cyste:a :.hall be 17rflbl-e for all benefit, c=., or r1'_''tt:r July 1, 1977, as protii:E1d 'in kctivtl 205692 CU\i'J'1'1!1G'll'L LGC.e. �y 5. The 3y ,; LL:=t to tiho I.'„ tployeE:;;' Ike i,iremen l: .rwlci in the Coni-it.y Treasury by v;ar-cal_t o" the _"taLe Controller the-u;Lount determined a:j 1:1.:'r�.i.iCi I"CJ.`:i tl 1'C1�1E t �11t:LC,, t -De valuu of the 111t•'_ri ;t:; in the Public- ' ublic fI'unci of ti,: W.ty and e.,pIc;;cc , credited 'rjj. h a:.ca:rul«led coatribu•- iicth:, c:., rl.t tic:Js u!;d'r the City's contract with the Sy;;teiu. 6. In order to dater;oine the tat?ount to be trarlslaitted pursuant to Puy u;;rLgA1 5, the follocrin� 1-Unounts shall be determined: a. Thr wiount of the accumulated contributions held in active Laid retired member accounts as of June: 30, 1977, derived from, coritributions required of a member by reason of the City's contact with the System, b. The wac arit of the accumulated Gortributions 'yield in the City's accounts as of June 30, 1977, de.cived from contributions required of the City by reason of: the City's contract with the System. 7. `file ;unount to be transmitted pursuant to Paragraph : shall be deter- mined as follows: The swn of 6(a) and 6(b) shall be multiplied by a quot-lent. Thf; di-vidend of the quotient shall be the ;,uui of the total market va=lue of securities of the Public Fmployees' .letirement- System as nublichpd. in the aruua:i7, report of the' Syolueia for Fiscal Year 1976-77, plus accrued incon:,- on investments, cash, member and employer contributions receivable from employers, investment p:rinc'ipal in course of collection, interest irk course of collection, less retirement benefit claims lin proceps of payment and interest on investments paid in advancQ at June 30, 1977. The divisor of the quotient sha,11 be the total'of employer and. employee contributions credited under the System as of the same date, 6, The System shall transmit 85 percent of the val.uea in the accounts 1:c:LJ, ft.Cd in Paaagraph 61 as reflect -ed in the System's accounts as of the Late:- ctxrplt ted ulorltliLy cloning on record as of June 30, 1977, to the Bmployae �' Rc:tiremert Igmd in the County Treasury, pursuant to Paragraph 5, wit:cain 15 days following the effective date of termination of the contract entered into by and between the City and the System or rri.thin 15 days following the hate this Agreement is executed on behalf of the System, whichever is later. N -2- �: - '. t+c: ,; . a w ._i_!. County 9'rmmui , 1 u' ,anm detenainud in ._ ..m, r pll '; S %,._iti:in ;U cvui ro Un noni.t: to the Lo J'trtyrunh 0, the wid the ,L'`iC)nat !xannmi Wu d teminrLtILM iiet_irument. diffeinneu betweUri tied as provided Of the value of the A! Lnd in the the Wnount r10 in Parngr yl interests Q the J. ablic 0WHyce ' Roll of 1110 (Ii. -',.y rLnd c-ii,ployees credited with acCMa dntLd c:oM•i.LUMu!:_ -L, undur the Gi ty l o contract with the Uystem. Dated Approved as to Pom Dated: Approved a: to Form Dated: Approved as to Fr:u :1Y 13011rLD Old OP TI11i: PUT3LIC 3iS'.VE'1 BY CITY COUNCIL OP' THE CITY OF SMI Rt FAEL Im Attest: BOARD OF SUPERVISORS OF Nit RIN COUNTY BY Attest: -3-