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Home My WebLink AboutResolution 2008-185 N.C.S. 09/15/2008 Resolution No. 2008-185 N.C.S. of the City of Petaluma, California KESOLUTION OF INTENTION TO APPROVE AN AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE CITY COUNCIL CITY OF PETALUMA W>FIEREAS, 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 for 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 20903 (Two Years Additional Service Credit) for local miscellaneous members and local safety members. NOW, T>FIEREFORE, BE IT RESOLVED that the City Council of the City of Petaluma does hereby give notice of intention to approve an amendment to the contract between the City and the Board of Administration of the Public Employees' Retirement System, a copy of said amendments being attached hereto, as an "Exhibit" and by this reference made a part hereof. Under the power and authority conferred upon this Council by the Charter of said City. REFERENCE: 1 hereby certify the foregoing Resolution was introduced and adopted by the p ov d as to Council of the City of Petaluma at a Regular meeting on the 15`x' day oP September, Po m: ?008, by the following vote: City torney AYES: Barrett, Freitas, Hands, Neu, O'Brien, Vice Mayor Rabbitt, Mayor Torliatt r NOES: None ~ ABSEN'C: Nonc ~i° r ABSTAIN: None 1~ ATTES 1 : ~ f r City Clerk Ma~or Resolution No. 2008-ISM N.C.S. Page 1 `,ice, CaIPERS I I California Public Employees' Retirement System Between the Board of Administration California Public Employees' Retirement System and the City Council City of Petaluma . ,:4 ....~,..~......n~~. 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 January 1, 1950, and. witnessed October 18, 1949, and as amended effective August 1, 1959, November 1, 1959, March 1, 1965, June 1, 1965, April 1, 1969, January 1, 1974, November 1, 1980, November 1, 1981, July 1, 1982, January 1, 1987, December 28, 1987, January 1, 1992, January 4, 1996, June 30, 1996, May 4, 1998, April 5, 1999, June 30, 2001 and January 16, 2003 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 as executed effective January 16, 2003, and hereby replaced by the following paragraphs numbered 1 through 12 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. Resolution No. 2008-18~ N.C.S. Paget ~Y 7' 1 ~ ! i 2. Public Agency shall participate in the Public Employees' Retirement System from and after January 1, 1950 making its employees as hereinafter provided, members of said System subject to alf 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 alt 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 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: NO ADDITIONAL EXCLUSIONS 5. The percentage of final compensation to be provided for each year of credited prior and current service as a local miscellaneous member shall be determined in accordance with Section 21354 of said Retirement Law (2% at age 55 Full). 6. 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 21362.2 of said Retirement Law (3% at age 50 Full). 7. Public Agency elected and elects to be subject to the following optional provisions: a. Section .21222.1 (One-Time 5% Increase - 1970). Legislation repealed said Section effective January 1, 1980. b. Section 20042 (One-Year Final Compensation). c. Section 20965 (Credit for Unused Sick Leave). d. Section 21326 (One-Time 1 % to 7% Increase For Local Miscellaneous Members Who Retired or Died Prior to July 1, 1974). Legislation repealed said Section effective January 1, 2002. Resolution No. 208-185 N.C.S. Page 3 e. Sections 21624, 21626 and 21628 (Post-Retirement Survivor Allowance) for local fire members only. f. Section 21024 (Military Service Credit as Public Service). g. Section 21574 (Fourth Level of 1959 Survivor Benefits) for local safety members only. h. Section 21573 (Third Level of 1959 Survivor Benefits) for local miscellaneous members only. i. 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). j. Section 20903 (Two Years Additional Service Credit). 8. Public Agency, in accordance with Government Code Section 20790, ceased to be an "employer" for purposes of Section 20834 effective on November 1, 1980. 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. 9. 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. 10. 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. b. Contributions required per covered member on account of the 1959 Survivor Benefits provided under Section 21574 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 safety members. Resolution No. 2008-185 N.C.S.. Page 4 c. 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. d. 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. 11. 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. 12. 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 ' CITY COUNCIL PUBLIC EMPLOYEES' RETIREMENT SYSTEM CITY OF PETALUMA BY BY LORf MCGARTLAND, CHIEF PRESIDING OFFICER EMPLOYER SERVICES DIVISION PUBLIC EMPLOYEES' RETIREMENT SYSTEM Witness Date Attest: Clerk AMENDMENT ER# 0293 PERS-CON-702A (Rev. 10\05) Resolution No 2008-185 N.C.S. Page 5