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HomeMy WebLinkAboutAgenda Report - October 30, 2012 B-01 SM1M CITY OF LODI COUNCIL COMMUNICATION AGENDA ITEM —1 AGENDA TITLE: Adopt Resolution of Intention Approving an Amendment to the Contract Between the Board of Administration of the Public Employees' Retirement System (PERS) and the City of Lodi and Introduce Ordinance Amending the Contract Between PERS and the City of Lodi With Regard to Providing Government Code Section 20475 (Different Level of Benefits Provided for New Employees); Government Code Section 21363.1 (3% @ 55 Formula); and Government Code Section 20037 (Three Year Final Compensation) for Local Safety members MEETING DATE: October 30,2012 PREPARED BY: Human Resources Manager RECOMMENDED ACTION: Adopt Resolution of Intention approving an amendment to the contract between the Board of Administration of the Public Employees' Retirement System (PERS) and the City of Lodi and introduce ordinance amending the contract between PERS and the City of Lodi with regard to providing Government Code Section 20475 (Different Level of Benefits Provided for New Employees); Government Code Section 21363.1 (3% @ 55 Formula); and Government Code Section 20037 (Three Year Final Compensation) for Local Safety members. BACKGROUND INFORMATION: In June 2000, the City amended its contract with CaIPERS to provide for 3 percent at 50 retirement formula for sworn safety employees. Recently, the City negotiated new Memorandums of Understanding (MOUs) with swom safety bargaining groups that became effective January 1, 2012. These respective MOUs contain terms that include changes to the CaIPERS retirement formulas for all new hires. As such, the City needs to formally amend its contract with CaIPERS to include this new retirement tier for newly hired employees. During negotiations with the four employee bargaining groups (Lodi Professional Firefighters, Lodi Fire Mid -Management, Police Officers Association of Lodi, and Lodi Police Mid -Management Organization), the City obtained actuarial cost information from CaIPERS as it relates to providing a two-tier retirement structure, wherein employees hired by the City or transferring to the City from another PERS agency after adoption of the MOUs would be part of a lower benefit formula. The first step in the process toward amending the contract between PERS and the City is to adopt the Resolution of Intention and introduce the ordinance amending the contract. The second reading will be on November 21, 2012, which will be the final adoption of the Ordinance and the amendment to the contract. APPROVED: Konradt Bartlam, City Manager FUNDING AVAILABLE: Not applicable. P Dean GLalco, Human Resources Manager Deputy City Manager/Internal cervices Director RESOLUTION ND. 2012-170 RESOLUTION OF INTENTION TO APPROVE AN AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM AND THE CITY COUNCIL CITY OF LODI 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 20475 (Different Level of Benefits). Section 21363.1 (3%@ 55 Full formula) and Section 20037 (Three -Year Final Compensation) are applicable to local safety members entering membership for the first time in the safety classification after the effective date of this amendment to contract. 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 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. (,7residin Officer, JoAnne L. Mounce Mayor Title October 30, 2012 Date adopted and approved (Amendment) CON -302 (Rev. 4/96) Dated: October 30, 2012 I hereby certify that Resolution No. 2012-170 was passed and adopted by the City Council of the City of Lodi in a special meeting held October 30, 2012, by the following vote: AYES: COUNCIL MEMBERS — Hansen, Nakanishi, and Mayor Mounce NOES: COUNCIL MEMBERS— None ABSENT: COUNCIL MEMBERS—Johnson and Katzakian ABSTAIN: COUNCIL MEMBERS— None Ap 41 RA ■ IHL City Clerk 2012-170 Ca1PERS California Public Employees' Retirement System EXHIBIT AMENDMENT TO CONTRACT Between the Board of Administration California Public Employees' Retirement System and the City Council City of Lodi 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 June 1, 1966, and witnessed April 27, 1966, and as amended effective July 6, 1966, May 1, 1970, July 1, 1973, July 1, 1977, April 1, 1991, July 7, 1993, June 30, 1996, November 15, 1998, June 12, 2000, May 17, 2003 and June 17, 2010 which provides for participation of Public Agency in said System, Board and Public Agency hereby agree as follows: A. Paragraphs 1 through 15 are hereby stricken from said contract as executed effective June 17, 2010, and hereby replaced by the following paragraphs numbered 1 through 16 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 and age 50 for local safety members entering membership in the safety classification on or prior to the effective date of this amendment to contract and age 55 for local safety members entering membership for the first time in the safety classification after the effective date of this amendment to contract. 2. Public Agency shall participate in the Public Employees' Retirement System from and after June 1, 1966 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. Public Agency agrees to indemnify, defend and hold harmless the California Public Employees' Retirement System (CaIPERS) and its trustees, agents and employees, the CaIPERS Board of Administration, and the California Public Employees' Retirement Fund from any claims, demands, actions, losses, liabilities, damages, judgments, expenses and costs, including but not limited to interest, penalties and attorneys fees that may arise as a result of any of the following: (a) PublicAgency's election to provide retirement benefits, provisions or formulas under this Contract that are different than the retirement benefits, provisions or formulas provided under the Public Agency's priornon-CaIPERS retirement program. (b) PublicAgency's election to amend this Contract to provide retirement benefits, provisions or formulas that are different than existing retirement benefits, provisions or formulas. (c) PublicAgency's agreement with a third party other than CaIPERS to provide retirement benefits, provisions, or formulas that are different than the retirement benefits, provisions or formulas provided under this Contract and provided for under the California Public Employees' Retirement Law. (d) Public Agency's election to file for bankruptcy under Chapter9 (commencing with section 901) of Title 11 of the United States Bankruptcy Code and/or Public Agency's election to reject this Contract with the CaIPERS Board of Administration pursuant to section 365, of Title 11, of the United States Bankruptcy Code or any similar provision of law. (e) Public Agency's election to assign this Contract without the prior written consent of the CaIPERS' Board of Administration. (f) The termination of this Contract either voluntarily by request of Public Agency or involuntarily pursuant to the Public Employees' Retirement Law. (g) Changes sponsored by PublicAgency in existing retirement benefits, provisions or formulas made as a result of amendments, additions or deletions to California statute or to the California Constitution. 4 . Employees of PublicAgency 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). 5. 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 WHO ARE HIRED JUNE 1, 1966 OR THEREAFTER. 6. 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. 7. Benefits paid to pensioners and annuitants under the local system on the effective date of the contract were recalculated, as authorized by Section 20481 of the Government Code, to conform with benefits applicable to persons retiring after the effective date of the contract except that no benefit which would have been payable under the continuation of the local system shall be reduced. 8. 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 of said Retirement Law, subject to the reduction provided therein for service prior to June 30, 1977, termination of Social Security, for members whose service has been included in Federal Social Security (2% at age 55 Full and Modified). 9. The percentage of final compensation to be provided for each year of credited prior and current service as a local safety member entering membership in the safety classification on or prior to the effective date of this amendment to contract shall be determined in accordance with Section 21362.2 of said Retirement Law (3%at age 50 Full). 10. The percentage of final compensation to be provided for each year of credited current service as a local safety member entering membership for the first time in the safety classification after the effective date of this amendment to contract shall be determined in accordance with Section 21363.1 of said Retirement Law (3% at age 55 Full). 1 1 _ Public Agency elected and elects to be subject to the following optional provisions: a. Section 21536 (Local System Service Credit Included in Basic Death Benefit). b. Section 21222.1 (One -Time 5% Increase - 1970). Legislation repeated said Section effective January 1, 1980. c. Sections 21624 and 21626 (Post -Retirement Survivor Allowance) for local miscellaneous members only. d. Section 21573 (Third Level of 1959 Survivor Benefits). e. Section 21427 (Improved Nonindustrial Disability Allowance) for local miscellaneous members only. f. Section 20042 (One -Year Final Compensation) for local safety members entering membership on or prior to the effective date of this amendment to contract. g. Section 20903 (Two Years Additional Service Credit), h. Section 20434 ("Local Fire Fighter" shall include any officer or employee of a fire department employed to perform firefighting, fire prevention, fire training, hazardous materials, emergency medical services, or fire or arson investigation services as described in Government Code Section 20434). i. Section 20965 (Credit for Unused Sick Leave). J. Section 20938 (Limit Prior Service to Members Employed on Contract Date) for elected officials employed on November 15, 1998. k. Section 21024 (Military Service Credit as Public Service). 1. Section 20475 (Different Level of Benefits). Section 21363.1 (3% @ 55 Full formula) and Section 20037 (Three -Year Final Compensation) are applicable to local safety members entering membership for the first time in the safety classification after the effective date of this amendment to contract. 12. Public Agency, in accordance with Government Code Section 20790, ceased to be an "employer" for purposes of Section 20834 effective on July 1, 7977. 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. 13. 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. 14. Public Agency shall aiso contribute to said Retirement System as follows: a. Contributions required per covered member on account of the 1959 Survivor Benefits provided under Section 21573 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. 15. 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. 16. 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 BOARD OF ADMINISTRATION PUBLIC EMPLOYEES' RETIREMENT SYSTEM day of CITY COUNCIL CITY OF LODI BY BY KAREN DE FRANK, CHIEF PRESIDING OFFICER CUSTOMER ACCOUNT SERVICES DIVISION PUBLIC EMPLOYEES' RETIREMENT SYSTEM Witness Date Attest: Clerk AMENDMENT Ca(PERS IQ #6448562990 PERS-CON-702A CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM Actuarial and Employer Services Branch Public Agency Contract Services P.O. Box 942709 Sacramento, CA 94229-2709 (888) CaIPERS (225-7377) CERTIFICATION OF COMPLIANCE WITH GOVERNMENT CODE SECTION 20475 1 hereby certify that the City Council of the (governing body) (:jtv of 1 nrli (public agency) has fully discharged all of the obligation imposed by Chapter 10 (commencing with Section 3500) of Division 4 of Title 1, Government Code. By City CIPrk Title r..Ii� /rI 111 ;�t1 tness P (O/ b)1 Z - Date PERS•CON-30 (Rev. 1/96) CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM Actuarial and Employer Services Branch Public Agency Contract Services P.O. Box 942709 Sacramento, CA 94229-2709 (888) CaIPERS (225-7377) CERTIFICATION OF GOVERNING BODY'S ACTION hereby certifythat the foregoing is a true and correct copy of a Resolution adopted by the City Council of the (governing body) City of Lodi (public agency) on October 30.2012 (date) Clerk/Secretary City Clerk Title PERS-CON-12 (rev. 1 /96) CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM Actuarial and Employer Services Branch Public Agency Contract Services P.O. Box 942709 Sacramento, CA 94229-2709 (888) CaIPERS (225-7377) CERTIFICATION OF COMPLIANCE WITH GOVERNMENT CODE SECTION 7507 I hereby certify that in accordance with Section 7507 of the Government Code the future annual costs as determined by the System Actuary for the increase/change in retirement benefit(s) have been made public at a public meeting of the City Council of the (governing body) City of Lodi (public agency) on October 30. 2012 which is at least two weeks prior to the adoption of the (date) Resoiution/ Ordinance. Adoption of the retirement benefit increase/change will not be placed on the consent calendar. Clerk/Secre City Clerk Title Date October 30. 2012 PERS-CON-12A (rev. 1/96) ORDINANCE NO. AN ORDINANCE OF THE CITY COUNCIL OF THE CITY LODI AUTHORIZING AN AMENDMENT TO THE CONTRACT BETWEEN THE CITY COUNCIL OF THE CITY OF LODI AND THE BOARD OF ADMINISTRATION OF THE CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM THE CITY COUNCIL OF THE CITY OF LODI DOES ORDAIN AS FOLLOWS: SECTION 1. That an amendment to the contract between the City Council of the City of Lodi and the Board of Administration, California Public Employees' Retirement System is hereby authorized, a copy of said amendment being attached hereto, marked Exhibit A, and by such reference made a part hereof as though therein set out in full. SECTION 2. The Mayor of the City of Lodi is hereby authorized, empowered, and directed to execute said amendment for and on behalf of said Agency. SECTION 3. All ordinances and parts of ordinances in conflict herewith are repealed insofar as such conflict may exist. SECTION 4. This ordinance shall be published one time in the "Lodi News Sentinel", a daily newspaper of general circulation printed and published in the City of Lodi, and shall take effect thirty (30) days from and after its passage and approval. ATTEST: RANDI JOHL City Clerk Approved this _ day of , 2012 JOANNE MOUNCE Mayor 1 State of California County of San Joaquin, ss. 1, Randi Johl, City Clerk of the City cf Lodi, do hereby certify that Ordinance No. was introduced at a regular meeting of the City Council of the City of Lodi held October 30, 2012, and was thereafter passed, adopted, and ordered to print at a regular meeting of said Council held November21, 2012, by the following vote: AYES: COUNCIL MEMBERS - NOES: COUNCIL MEMBERS - ABSENT: COUNCIL MEMBERS - ABSTAIN: COUNCIL MEMBERS - 1 further certify that Ordinance No. was approved and signed by the Mayor on the date of its passage and the same has been published pursuantto law. Approved to Form: D. STEPHEN SCHWABAUER City Attorney 2 RANDI JOHL City Clerk CaIPERS California Public Employees' Retirement System EXHIBIT AMENDMENT TO CONTRACT Between the Board of Administration California Public Employees' Retirement System and the City Council City of Lodi 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 PublicAgency, having entered into a contract effective June 1, 1966, and witnessed April 27, 1966, and as amended effective July 6, 1966, May 1, 1970, July 1 ,1973, July 1, 1977, April 1, 1991, July 7, 1993, June 30, 1996, November 15, 1998, June 12, 2000, May 17, 2003 and June 17, 2010 which provides for participation of Public Agency in said System, Board and Public Agency hereby agree as follows: A. Paragraphs 1 through 15 are hereby stricken from said contract as executed effective June 17, 2010, and hereby replaced by the following paragraphs numbered 1 through 16 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 and age 50 for local safety members entering membership in the safety classification on or prior to the effective date of this amendment to contract and age 55 for local safety members entering membership for the first time in the safety classification after the effective date of this amendment to contract. 2. Public Agency shall participate in the Public Employees' Retirement System from and after June 1, 1966 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 ail amendments to said Law hereafter enacted except those, which by express provisions thereof, apply only on the election of a contracting agency. 3. PublicAgency agrees to indemnify, defend and hold harmless the California Public Employees' RetirementSystem (CaIPERS) and its trustees, agents and employees, the CaIPERS Board of Administration, and the California Public Employees' Retirement Fund from any claims, demands, actions, losses, liabilities, damages, judgments, expenses and costs, including but not limited to interest, penalties and attorneys fees that may arise as a result of any of the following: (a) PublicAgency's election to provide retirement benefits, provisions or formulas under this Contract that are different than the retirement benefits, provisions or formulas provided under the PublicAgency's prior non-CaIPERS retirement program. (b) PublicAgency's election to amend this Contract to provide retirement benefits, provisions or formulas that are different than existing retirement benefits, provisions or formulas. (c) PublicAgency's agreement with a third party other than CaIPERS to provide retirement benefits, provisions, or formulas that are different than the retirement benefits, provisions or formulas provided under this Contract and provided for under the California Public Employees' Retirement Law. (d) PublicAgency's election to file for bankruptcy under Chapter 9 (commencing with section 901) of Title 11 of the United States Bankruptcy Code and/or Public Agency's election to reject this Contract with the CaIPERS Board of Administration pursuant to section 365, of Title 1 1 pf the United States Bankruptcy Code or any similar provision of law. (e) Public Agency's election to assign this Contract without the prior written consent of the CaIPERS' Board of Administration. (f) The termination of this Contract either voluntarily by request of PublicAgency or involuntarily pursuant to the Public Employees' Retirement Law. (g) Changes sponsored by PublicAgency in existing retirement benefits, provisions or formulas made as a result of amendments, additions or deletions to California statute or to the California Constitution. 4. 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). 5. 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 WHO ARE HIRED JUNE 4,1966 OR THEREAFTER. 6. 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 Ernpioyees' Retirement System. 7. Benefits paid to pensioners and annuitants under the local system on the effective date of the contract were recalculated, as authorized by Section 20481 of the Government Code, to conform with benefits applicable to persons retiring after the effective date of the contract except that no benefit which would have been payable under the continuation of the local system shall be reduced. 8. 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 of said Retirement Law, subject to the reduction provided therein for service prior to June 30, 1977, termination of Social Security, for members whose service has been included in Federal Social Security (2% at age 55 Full and Modified). 9. The percentage of final compensation to be provided for each year of credited prior and current service as a local safety member entering membership in the safety classification on or prior to the effective date of this amendment to contract shall be determined in accordance with Section 21362.2 of said Retirement Law (3%at age 50 Full). 10. The percentage of final compensation to be provided for each year of credited current service as a local safety member entering membership for the first time in the safety classification after the effective date of this amendment to contract shall be determined in accordance with Section 21363.1 of said Retirement Law (3% at age 55 Full). 11. Public Agency elected and elects to be subject to the following optional provisions: a. Section 21536 (Local System Service Credit Included in Basic Death Benefit). b. Section 21222.1 (One -Time 5% Increase - 1970). Legislation repealed said Section effective January 1, 1980. c. Sections 21624 and 21626 (Post -Retirement Survivor Allowance) for local miscellaneous members only. d. Section 21573 (Third Level of 1959 Survivor Benefits). e. Section 21427 (Improved Nonindustrial Disability Allowance) for local miscellaneousmembers only. f. Section 20042 (One -Year Final Compensation) for local safety members entering membership on or prior to the effective date of this amendment to contract. g. Section 20903 (Two Years Additional Service Credit). h. Section 20434 ("Local Fire Fighter" shall include any officer or employee of a fire department employed to perform firefighting, fire prevention, fire training, hazardous materials, emergency medical services, or fire or arson investigation services as described in Government Code Section 20434). i. Section 20965 (Credit for Unused Sick Leave). Section 20938 (Limit Prior Service to Members Employed on Contract Date) for elected officials employed on November 15, 1998. k. Section 21024 (Military Service Credit as Public Service). I. Section 20475 (Different Level of Benefits). Section 21363.1 (3% @ 55 Full formula) and Section 20037 (Three -Year Final Compensation) are applicable to local safety members entering membership for the first time in the safety classification after the effective date of this amendment to contract. 12. Public Agency, in accordance with Government Code Section 20790, ceased to be an "employer" for purposes of Section 20834 effective on July 1, 1977. 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. 13. PublicAgency 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. 14. PublicAgency 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 21573 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. 15. 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. 16. 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 BOARD OF ADMINISTRATION PUBLIC EMPLOYEES' RETIREMENT SYSTEM day of CITY COUNCIL CITY OF LODI BY BY KAREN DE FRANK, CHIEF PRESIDING OFFICER CUSTOMER ACCOUNT SERVICES DIVISION PUBLIC EMPLOYEES' RETIREMENT SYSTEM Witness Date Attest: Clerk AMENDMENT CaIPERS IDi6448562990 PERS-CON-702A CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM Actuariaf and Employer Services Branch Public Agency Contract Services P.0.Box 942709 Sacramento,CA 94229-2709 (888)CaIPERS (225-7377) CERTIFICATICIN OF COMPLIANCE WITH GOVERNMENT CODE SECTION 20475 1 hereby certify that the City Council of the (goveming body) City of Lodi (public agency) has fully discharged all of the obligation imposed by Chapter 10 (commencing with Section 3500) of Division 4 of Title 1, Government Code. By City Clerk Title Witness Date PERS-CON-34 (Rev. 1/96) CALIFORNIA PUBLIC EMPLOYEES' RETIREMENTSYSTEM Actuarial and Employer Services Branch Public Agency Contract Services P.O. Box 942709 Sacramento, CA 94229-2709 (888) CaIPERS (225-7377) CERTIFICATION OF GOVERNING BODY'S ACTION hereby certify that the foregoing is a true and correct copy c( a Resolution adopted by the City Council cf the (governing body) City of 1 nrli (public agency) on October 30.2012 (date) Clerk/Secretary City C;IPrk Title PEAS -CON -12 (rev. 1/96) CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM Actuarial and Employer Services Branch Public Agency Contract Services P.O. Box 942709 Sacramento, CA 94229-2709 (888) CaIPERS (225-7377) CERTIFICATION OF COMPLIANCE WITH GOVERNMENT CODE SECTION 7507 I hereby certify that in accordance with Section 7507 of the Government Code the future annual costs as determined by the System Actuary for the increase/change in retirement benefit(s) have been made public at a public meeting of the Citv Council of the (governing body) City of odi (public agency) on October 30.2012 which is at least two weeks prior to the adoption of the (date) Resolution/ Ordinance. Adoption f the retirement benefit increase/change will not be placed on the consent calendar. Clerk/Secretary _City Clerk Title Date October 30. 2012 PERS-CON-12A (rev. 1/96)