HomeMy WebLinkAboutResolution 95-073 03/20/1995 ReSO~UtIOCI ~O. 95-73 N.~..S.
of the City of Petaluma, California
RESOLUTION ESTABLISHING PST WITH THE PUBLIC AGENCY RETIREMENT
SYSTEM (PARS) ALTERNATE RETIREMENT SYSTEM FOR NON PERS
ELIGIBLE EMPLOYEES
WHEREAS, it has been determined to be in the best interest of the City of
Petaluma and its employees to provide a Qualifying Retirement System to all employees
who are curcently eligible for such a Qualifying Retirement System thereby meeting the
requirements of Section 11332 of the 1990 Omnibus Budget Reconciliation Act and .
Section 3121(b)(7)(F) of the Internal Revenue Code; and
WHEREAS, the Public Agency Retirement System (PARS) Plan, a governmental
plan qualified under Section 401(a) of the Internal Revenue Code, has made such a
System available to the City of Petaluma and its eligible employees, and qualifies under
California Government Code Sections 20,000, 53216, et seq., and Section 111332 of the
1990 Omnibus Budget Reconciliation Act, and meets the meaning of the term "retirement
plan" as given by Section 218(b)(4) of the Federal Social Security Act;
NOW THEREFORE BE IT RESOLVED THAT:
1. The City Council of the City of Petaluma does hereby adopt PARS Alternate
Retirement System effective March 27, 1995, the effective date for the benefit of eligible
employees on that date and those hired thereafter; and
2. The City Manager or the designee of the City Manager is hereby appointed.
Administrator for the PARS Alternative Retirement System; and
3. The Plan Administrator is hereby authorized to execute the Adoption
Agreement for the PARS Alternative Retirement System on behalf of the City of Petaluma
and to take whatever additional actions are necessary to maintain the participation of the
City of Petaluma in PARS and to maintain PARS compliance with Section 11332 of the
Act and relevant regulations issued or as may be issued.
Under the power and authority conferred upon this Council by the Charter of said City.
KEFERENCF.: I hereby certify the foregoing Resolution was introduced and adopted by the Approved as ko
Council of the City of Petaluma at a (Regular) (dC:'f3t~diA1) meeting~~-"-form
on the 20th day of --It12PCh.........,.. 19.95.., by the c__=~~\~t
following vote:
~ City Att~rney
AYES: Shea, Maguire, Barlas, Stompe, Mayor Hilligoss
LACES: None ~
ABSENT: 1-Iamilto or Read -
ATTEST: _
City Clerk Mayor
Comcil File