HomeMy WebLinkAboutResolutions - No. 2000-56RESOLUTION NO. 2000-56
A RESOLUTION OF INTENTION OF THE LODI CITY COUNCIL
TO APPROVE AN AMENDMENT TO CONTRACT BETWEEN
THE BOARD OF ADMINISTRATION OF THE CALIFORNIA
PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE CITY
COUNCIL OF THE 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 Government Code Section 21362.2 (3% @ 50
Full Formula) for local safety members.
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.
Dated: April 5, 2000
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I hereby certify that Resolution No. 2000-56 was passed and adopted by the City
Council of the City of Lodi in a regular meeting held April 5, 2000, by the following vote:
AYES: COUNCIL MEMBERS — Hitchcock, Land, Nakanishi and Mann
(Mayor)
NOES: COUNCIL MEMBERS — Pennino
ABSENT: COUNCIL MEMBERS — None
ABSTAIN: COUNCIL MEMBERS — None
�JA UELINE L TA R
Int'm City Clerk
2000-56
Ca1PERS
California
Public Employees' Retirement System
EXHIBIT
AMENDMENT TO CONS° ► ' ACCT
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 and November 15, 1998 which provides for participation of Public Agency in said
System, Board and Public Agency hereby agree as follows:
A. Paragraphs 1 through 14 are hereby stricken from said contract as executed effective
November 15, 1998, and hereby replaced by the following paragraphs numbered 1 through 14
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 55 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 June 1, 19606 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
i provisions thereof, apply only on the election of a contracting agency.
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3. 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).
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 WHO ARE HIRED JUNE
1, 1966 OR THEREAFTER.
5. 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.
6. 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.
7. 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 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).
8. 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
°lection 21362.2 of said Retirement Law (3% at age 50 Full).
9. Public Agency elected and elects to be subject to the ►ollowing optional provisions:
a. Section 21536 (Local System Service Credit Included in Basic Death Benefit).
b. Section 21222.1 (Special 5% Increase -1970). Legislation repealed said Section
effective January 1, 1980.
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C. Sections 21624 and 21626 (Post -Retirement Survivor Allowance) for local
miscellaneous members.
d. Section 21573 (Third Level of 1959 Survivor Benefits).
e. Section 21427 (Improved Non -Industrial Disability Allowance) for local
miscellaneous members only.
Section 20042 (One -Year Final Compensation) for local safety members only.
g. Section 20903 (Two Years Additional Service Credit) for local miscellaneous
members and local safety members only.
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).
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.
10. 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 20634.
11. 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.
12. Public Agency 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.
a 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.
13. 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.
14. 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 day of
BOARD OF ADMINISTRATION
PUBLIC EMPLOYEES' RETIFREMENT SYSTEM
-v
1
BY
KENNETH W. MARZION•,-3DHIEF
ACTUARIAL & EMPLOYER SERVICES DIVISION
PUBLIC EMPLOYEES VETIREMENT SYSTEM
AM EN D'd =NT
P=RS-00N-702A (Rev. 6\96)
CITY COUNCIL
CITY OF LODI y
BY
PRESIDING OFFICER t.
Witness Date C
x.
Attest: '
Clerk