HomeMy WebLinkAboutResolutions - No. 3520RESOLUTION NO. 3520
A RESOLUTION SELECTING A PAYMENT SCHEDULE
CONCERNING SENATE BILL 249 TERMINATING IN
THE YEAR 2000, AND ELECTING THE OPTIONAL
ONE-YEAR DEFERMENT OF THE 7.15% RATE
WHEREAS, Senate Bill 249 provides for increased retirement
benefits for employees through the Public Employees Retirement
System; and
WHEREAS, schedules bf increased contribution rates have
been provided the City of Lodi for said City to make its selection of
payment schedule:
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the City of Lodi that said Council hereby selected a schedule of
contributions for prior service terminating in the year of 2000, and
BE IT FURTWER RESOLVED by the City Council of the City
of Lodi that said Council hereby elects to accept a one-year deferment
in the application of the new 7. 15% contribution rate, said rate to be
effective July 1, 1972.
Dated: June 16, 1971
I hereby certify that Resolution No. 3523 was passed and
adopted by the City Council of the City of Lodi in regular
meeting held June 16, 1971 by the following vote:
Ayes: Councilmen - Ehrhardt, Hughes, Kirsten
and Katnich
Noes: Councilmen None
Absent: Councilmen - Schaffer
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