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Home My WebLink AboutOrdinance 2113 N.C.S. 05/07/2001emu^ N` :, VM' 6 2001 ORDINANCE NO. 2113 N.C.S. Introduced Seconded By Vice Mayor By Councilmember Janice Cader Thompson Matt Maguire AUTHORIZING AN AMENDMENT TO THE CONTRACT BETWEEN THE CITY OF PETALUMA AND BOARD OF ADMINISTRATION OF THE CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM BE IT ORDAINED BY THE COUNCIL OF THE CITY OF PETALUMA AS FOLLOWS: Section 1. That an amendment to the contract between the City Petaluma and the Board of Administration, California Public Employees' Retirement System is hereby authorized, a copy of said amendment being attached hereto, marked Exhibit A, and by such reference made a part hereof as though herein set out in full. Section 2. The Mayor of the City Council is hereby authorized, empowered, and directed to execute said amendment for and on behalf of said Agency. Section 3. This Ordinance shall take effect thirty days after the date of its adoption and prior to the expiration of thirty days from passage shall be published at least twice in the Petaluma Argus-Courier, a newspaper of general circulation, published and circulated in the City of Petaluma and thenceforth and thereafter the same shall be in full force and effect. INTRODUCED and ordered ga�d Posted this 161h day of April 2001. ADOPTED this 7'h day of May 2001, by the following vote: AYES: O'Brien, Healy, Torliatt, Maguire, Moynihan, Vice Mayor Cader-Thompson, Mayor Thompson NOES: None ABSENT: None Mayor ATTEST: APPROV D AS TO FORM: Richar dnansky; tity Attorney Beverly J. K e ity C rk Ordinance 2113 NCS California Public Employees' Retirement System AMIEd"NDMIENT TO"CONTRACT Between the -Board of Administration California ]Public Employees' Retirement System and the City Council City of Petaluma - 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 effective. January 1 „ 1950, :and witnessed October 1:8, 1945,, and as amended effective 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, 1.987, December 28, 1987 January 1, 1992,'January 4, 1996 June 30, 1996, May 4, 1998. and April 5, 1999 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 April 5; 1999, and hereby replaced. b.y 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. a, 2. Publif'; Agency shall participate, in the Public Employees' Retirernent, System from and after. January 1, 1950 making, its, employees as hereinafter provided, ded -H provisions: of reiria , er prov members. Of -said System subject to a. the ' Public Employees' Retirement Law except such, as apply only on election. of,q, contracting -agency and are.',not provided for herein and to all amendments 'to said Law hereafter enacted except '11-iose"r Which by express provisions thereof, apply only .on the election of -a contracting' agency. 3. Employees of Public., Agency in thefollowing classes shall,, become members of said Retirement System except such in each such class as -are. excluded by law or this agreemerit: a. Local Fire Fig htefs, (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 (here;in referred to as local'. miscellaneous -members.): 4.. In addition to the classes of eMployee:5 excluded from membership by said ;Retirement Law, the,followingclasses of employees shall not become membersof'said Retirerh`ent'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 miscellaneaps,rh.erriber shall be determined in accordance with Section- 21 3'54!of said Retirement. Law (2%'at ag"e,55 Full). 64t Thee „percentage of'final compensation to be provided 'f6r each ;year, of credited prior and :current service as a J,ocal= safety member- shallbe determined in, accordance With Section- 21362.2 of said Relitemerif'.Law (3% at, age, 50 'Ful,l). The required member contribution rate is 9% of reportable compensation. 7. Public Agency' elected and elects to be subject to the following, optibrial- provisions-., 2 -(Spe�cial'5% lncre�ase4;970)., Legi lation, repealed a., Section -21' 22A s said Section effective January 1, 1GG. b: Secti Om,20042, (O-ne-Yea.r Final Compensatibri)., C. Section 209155 (CreditforU,n'us'ed Sick Leave). d. Section 21326; (Special to 7% lncrease For Local Miscellaneous Members Who Retired or Died Prior,to July" 1,1974),. 0 LL AvC DO. NOT SIGN //EA I'i'�T C��LI''' e. Secti'o.ns 21624„ 21626 and 21628 (Post -Retirement Survivor Allowance) for16cal fire members only. f. Section 21`024 (Military` Service Credit as .Public Service), Statutes of 1976. 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, 8. Public Agency, :'in accordanc_ e 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 Retifement,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` inenber on account of the 1959 Survivor Benefits provided .under Section 21,573 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. 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 bylaw'. 11.. Contributions :required of Public Agency and its employees shall be subject fo adjustment by Board on account of amendments f&. the. Public Employees' Retirement Law, and .o.n acco,unt of 'the .experience under the Retirement System: as determined by , the periodic 'investigation and valuation required by said Retirement Law'. 12. Coritributions required of Public Agency and. its employees' "shall be paid by Public..Age.ncy to: the .Retirement Sysiem within fifteen days after the end of the'period to which said contributions referor;as may be prescribed by Board regulation. :If more, or less thanthe correct amount of contributions .is :paitl for •any period, proper adjustment shall be, made in connection with subsequent remittances., Adjustments on account, of errors ,in contributions required oVany, employee may ,be ,made by direct payments between the employee and; the :Board. B. This amendmeritshall be. effective on the ..day of , BOARD OF ADMINISTRATION CITY COUNCIL PUBLIC EMPLOYEES' RETIREIy NT SYSTEM... CITY OF PETALUMA BY - BY KEN;N:ETH W.: MA'RZLEN,'CHI'EF PRESIDING'OFFICER' ACTUARIAL &'EMI LOYER SERVLCES DIVISION PUBLIC;EMPLOYEES' R€TIREM ENT. SYSTEM _ WitnessZ.ate e r• , 1 .CLefE� .AMENDMENT PERS`-CONJO7 A (Rev. 8\96) -CALIFORNIA PUBLIC :EMPLOYEES' RETIREflAENT SYSTEM .Actuarial antl Ernployej Services Division Public Agency Cphtract' Services P O:'Box 942709 Sacramento, CA- 94229-2709 (916) 326-3420 CERTIFICATION OF .COMPLIANCE WITH GOVERNMENT CODE SECTION 7507 1 hereby certify that in accordance with Section 7507 of the Government Code the future annual costs as determined by.the System Actuary and/or the increase in retirement'benefit(s) have been made public at a public meeting of the on APRIL 16, 2001 (date) Resolution / Ordinance Date MAY 24, 2001 ('TTY CYli1mm. of the (governing body) CITY OF PETALUMA (public agency) which is at least two weeks prior to the adoption of the Clerk/Secretary CITY CLERK Title PERS-CON-12A (rev. 1/96)