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Resolution 1991-11 . . ., RESOLUTION NO. 91 - 11 RESOLUTION OF THE COUNCIL OF THE CITY OF GILROY 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 GILROY WlIEREAS, 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 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 21382.4 (Third Level of 1959 Survivor Benefits) for local fire members only. NOW, THEREFORE, BE IT RESOLVED that the governing body of the above agency 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' Retirement System, a copy of said amendment being attached hereto, as an "Exhibit" and by this reference made a part hereof. PASSED AND ADOPTED this 4th day of March, 1991, by the following vote: AYES: COUNCILMEMBERS: GAGE, HALE, KLOECKER, MUSSALLEM, NELSON, VALDEZ and HUGHAN. NOES: COUNCILMEMBERS: None ABSENT: COUNCILMEMBERS: None APPROVED: ATTEST: RESOLUTION NO. 91 - 11 ~~ ~~~ "~ ('.{.j~\ ~o"\ :) ~\. fVO ~~ * * COP Y * * * . AMENDMEN'l' TO CONTRACT BE'l'WEEH THE BOARD OF ADMINISTRATION OF THE PUBLIC EMPLOYEES' RE'l'IREMEN'l' AND THE CITY COUNCIL OF THE CITY OF GILROY SYSTEM The Board of Administration, Public Employees' Retirement System, hereinafter referred to as Board, and the governing body of above public agency, hereinafter referred to as Public Agency, having entered into a contract effective July 1, 1968, and witnessed May 21, 1968, and as amended effective November 3, 1971, August l, 1973, January 1, 1975, July 1, 1981, July l, 1982, Jano~ry l, 1987, June 2, 1988 and June 1, 1990, which provides for participation of Public Agency in said System, Board and Public Agency hereby agree as follows: A. Paragraphs 1 through l2 are hereby stricken from said contract as executed effective June 1, 1990, and hereby replaced by the following paragraphs . numbered ] 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 60 for local miscellaneous members and age 50 for local safety members. 2. Public Agency shall participate in the Public Employees' Retirement System from and after July 1, 1968 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 .xcluded 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). ... ... ' ._w '" 5.!... ~ o ~ ~ :~ (:; c..~ 6. ~ ~ o ~ bt ~ ~ 7. .. . . . COP Y . . . 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: a. PERSONS COMPENSATED ON AN HOURLY BASIS. Assets heretofore accumulated with respect to members in the local retirement system have been transferred to the Public Employees' Retirement System and applied against the liability for prior service incurred thereunder. That portion of the assets so transferred which represent the accumulated contributions (plus interest thereof) required of the employees under said local system has been credited to the individual membership account of each such employee under the Public Employees' Retirement System. The percentage of final compensation to be provided for local miscellaneous members for each year of credited prior and current service shall be determined in accordance with Section 2l25l.l3 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 60 Full and Modified). The percentage of final compensation to be provided for each year of credited prior and current service as a local safety member shall be determined in accordance with Section 21252.01 of said Retirement Law (2% at age 50 Full). 8. Public Agency elected to be subject to the following optional provisions: a. Sections 21380-21387 (l959 Survivor Benefits) excluding Section 21382.2 (Increased 1959 Survivor Benefits) and Section 2l382.4 (Third Level of 1959 Survivor Benefits) for local miscellaneous members and local pOlice members. b. Section 21361.5 (Local System Service Credit Included in Basic Death Benefit). c..' Section 21222.1 (Special 5% Increase - 1970). Legislation repealed said Section effective January 1, 1980. d. Section 20862.8 (Credit for Unused Sick Leave) for local miscellaneous members and local fire members only. e. Sections 21380-21387 (1959 Survivor Benefits) including Section 21382.4 (Third Level of 1959 Survivor Beneflts) for local fire members only. .. . . * * * COP Y * * * 9. Public Agency, in accordance with Government Code Section 20740, ceased to be an "employer" for purposes of Section 20759 effective on July l, 1981. Accumulated contributions of Public Agency shall be fixed and determined as provided in Government Code Section 20759, and. accumulated contributions thereafter shall be held by the Board as provided in Government Code Section 20759. 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. J.i. =t o ti ;c ~ ~ - <: g to') s-. Ii IS t}f ~ l2. Public Agency shall also contribute to said Retirement System as follows: a. Public Agency shall contribute $2.50 per employee, per month on account of the liability for the 1959 Survivor Benefits provided under Section 21382.4 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 fire members. b. A reasonable amount, as fixed by the Board, payable in one in- stallment 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 in- stallment 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. 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. . . * * * COP Y * * * 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 eff;~ o~ ~ BOARD OF ADMINISTRATION __~~ PUBLIC EMPLOYEES' RETIREME~~)tiYSTEM BY ... ~ J:.J' t} ~ CONTRACT VICES DIVISION ... EMPLOY~~I RETIREMENT SYSTEM ~ ~ CHIEF, PUBLIC PERS-CON-702 (AMENDMENT) (Rev. 3/90) the CITY COUNCIL OF THE CITY OF GILROY "1. if' <:) ~ ~ \:s OfficeiiJ BY Presiding Witness ~ ~ Date ~ ~ 8 t$J $ Attest: Clerk day of . . , . , .. I, SUSANNE E. STEINMETZ, City Clerk of the City of Gilroy, do hereby certify that the attached Resolution No. 91-11 is an original resolution, duly adopted by the Council of the City of Gilroy at a regular meeting of said Council held on the 4th day of March l~~, at which meeting a quorum was present. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Official Seal of the City of Gilroy this 7th day of March 19 91. ~~~c~~ (Seal)