HomeMy WebLinkAboutResolutions - No. 4352RESOLUTION NO. 4352
RESOLUTION 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 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 raay elect to subject them --
selves 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 legislative body of the public agency of a resolu-
tion 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:
Miscellaneous members; (Full formula)
1. Section 21263 & 21263.1 Post retirement survivors benefit.
2. Section 21298 Increase in ordinary disability allowance.
3. Section 21380-21388 - 1959 Survivors benefit.
4. Section 21390 Additional allowance for 59 survivors.
Safety members;
1. Change formula to Full 2% @ 50.
2. Section 2138021388 - 1959 Survivor benefits.
NOW, THEREFORE, BE IT RESOLVED, that the governing body of the above agency
gives, and it 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.
CITY COUNCIL OF THE
CITY OF LODI
BY
e
Name)�([� ���'� (((('"+� �+
ALICE M, RE1MCHE
City Clerk
(Title)
Aye s Councilmen -- Ehrhardt, Hughes, Katzakian, Pinkerton, and Katnich
Noes: Cep ncil en - None THE FOREGOING DOCUMENT 1S CERTIFIED
Absent: Councilmen - NoneTO BE A CORRECT COPY Of THE ORIGINAL
NAV d 1.92.7 ON FILE 1N THIS 07F10E.
(Date adopted and approved) ALICE M. REWCHE Ret.. Foie: 122
CITY CLERK, CITY OF LODI
),ITR TI -
BOARD OF ADY1NISTFLATIObi
PUBLIC E:PLO LS' RETTEME T SYSTEM
AND THE
CITY COUNCIL
OF T'H
CITY OF LODI
The Board of Administration, Public Employees' Retirement System, hereinafter
referred to as Board, and the CITY COUNCIL of the CITY OF LODI, hereinafter referre
to as Public Agency, having entered into a contract under date of April 27, 1966,
effective June 1, 1966, and as amended effective May 1, 1970, and July 1, 1973,
which provides for participation of Public Agency in said System, Board and Public
Agency hereby agree as follows:
A. Paragraphs 1 through 12 are hereby stricken from said contract executed
effective July 1, 1973, and are hereby replaced by the following para-
graphs numbered 1 through 12 inelusivo:
1. All words and teras used herein which are defined in the Public
Employees, T etirement Later shall havethe meaning as defined therein
unless otherwise sp?c1^ical y 7cro4`idel. "Normal ret. .ream` l;.j�•
shall mean age 60 S or miscellaneous membcirs and age 50 for 1F caT.
safe.Gy memers.
2. Public _ ,e.acy ah,.11 pati :iplte
S'rstrJm fro_, and n.ft ;r 71.n) 1 1
a'te ' provided, ::rei' )er . C i.id
t 1e : ublic Employee;' et ' r e :len
election of a cc.atr,let _ng a.g anc
to all amendments to said Lal h
press provsion thereof apply c
agencies.
in tI a r ,ba le
f6� r a.1g e; -1t. e_
t..
a iTid .:xc .'pt such ?...S . p' -y
r:d are no-, ; :-ovidi n _ r .=a i.. a
lre:,fti,,r enacted excEDt such u._. .; . _..
ily or th= e1ecricn cm cntrac',i; .F
3. Employees of Public Agency in t ;e gal _ow ng c1ase ,=s shall bec Dm-.
bers of said Retirement S:rstem ..xcept such in each such class ar_ az e
excluded by law or this agreeme.)t:
a. Local policemen (herein referr :d 7,o .is local safety members);
b. Local firemen (heroin re er ^ed to as 10 a1. safety r.mber� );
c. Employees other than local 3a`' .ty members (herein referred to
as miscellaneous members).
The following employees shall be excluded from membership in sail
Retirement System:
PERSOMS C0 PEi•ISATED OIJ AIJ HOURLY BASIS 4}I0
ARE HIRED .flJNE 1, 1966 OR T Ti.zi.
ELECTIVE OFFICIALS.
4. Assets heretofore accumulated with respect to members in the local
Retirement System were transferred to the Public Employees' Retire-
ment System within four months after the effective date of this
contract and applied against the liability for prior service incurred
hereunder. That portion of the assets so transferred whi
c. Sections 21263 and 21263.1 (providing upon the death of a member
who retired for service or disability for continuance of a post-
retirement survivor allowance to certain survivors) for
miscellaneous members.
d. Sections 21380-21388 (providing for allowances for survivors of
members covered under the 1959 Survivor's Program upon the
member's death before retirement).
e. Section 21390 (providing that the increased level of 1959
Survivor Benefits provided under Section 21382.2 be applicable
to members of Public Agency) for miscellaneous members.
f. Section 21298 (providing increased non -industrial disability
retirement allowances of up to fifty -percent of final compen-
sation to members retiring after the effective date of the
amendment) for miscellaneous members.
10. ?ublic Agency shall contribute to said Retirement System as follows:
a. With respect to miscellaneous members, the public agency shall
cottribute the following percentages of monthly salaries earned
smiscellaneous members of sai6. 3stem:
percent until June 30, 200 on accourt of the
r ror service ')erefi'Ls.
(2, percent on account7..f." ;h. 1 '.1.t -r f,)r c;trent er
bencfi 3.
3: :ertent on acccint c) tLe 195-7;
EurvivLr program, with benefits increazed in accorCanee
vith Section 21390.
c•With xesl'ect to local safety members, the pLblf.c agency
contribute the following percentages cf aantM: sz.laries ez:•..rncd
as local safety members of said System:
(1) 11.505percent until June 30, 1986 on account of the liability
for prior service benefits.
(2) 17.3E5 percent on accolnt of t1t?.
bene:its.
for c=ent service
0.500 percent on account of the liability for the 1759
Survivor pro;ram.
c. A reasonable A:71ount per arulum, as fixed by Board to cover the
costs of administering said System as it affects the employees
of Public Agency, not including the costs of special valuations
or the periodical investigation and valuation required by law.
d. A reasonable amount as fixed by the Board, payable in one install-
ent the occasions arise, to cover costs of special valuations
on account of employees of Public Agency, and costs of the period-
ical investigation and valuation required by law.
Form 702-3
11. Contributions required by Public Agency and its employees shall be
subject to adjustaent by Board on account of amendments to the
Public Eaployees' Retirement Law, and on account of the experience
under the Retirement System, as determined by the periodical
investiaation and valuation required by said Retirement Law.
12. Contributions required of Public Agency and its employees shall he
paid by Public Agency to the Retirement System within thirty days
after the end of the period to which said contributions refer. If
more or less than the correct amount of contributions is paid for
any period, proper adjustaent shall be made in connection with
subsequent remittances, or adjustments on account of errors in
contributions required of any employee may be made by direct cash
payments between the employee and Board. Payments by Public AEency
to Board may be made in the form of warrants, bank checks, bank
drafts, certified checks, money orders, or cash.
B. This amendment shall be attached to said contract and shall be effective
on the e_ay of
-altness our hands this
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Approved a to form:
Legal Office, FES
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Form 7O2-4