HomeMy WebLinkAboutRESO 2532\ ·~-
,,
·f! ·~
,\
•
... ,._.. --
"' • l • ........ • •. -~.-.. • ~" --............, .~"~~~.t.~Ml'W*~ ....... ~~.t~Y~~~··~ ............ ~,.......U: I ..................... l.ll--1.... R .. .
/.:;.-
.,~ ... ~ .. • ~ ·.!L
RESOLUTION NO. 253:G
RESOLUTIQN OF INTJ£NTION TO ~PPFOVE
AJJENilmNT TO CONTJt\CT PROVIDING rott
PAR'l'I~PJlTION IN
STATE miPtomES I RET:rmmNT SYSml
1,1 ,'
WHEREAS, the._Sta~ !mpl.oyees' Retil'llllent Law permits the partic~·.pat~on ot public
agencies in the State &lplo,yeea' Retil'llllent Syat.m, by the execution or a contract
making their employees m•~ra ot eaid S)rat•, and seta forth the proceclm-e by which
said Flblic agencies 111&1 elect to subject tb .. elvea arA their aaplO)"eeiS ·to amendments
to said law, providins tor a pranteed peroentap ot tir.1.l OCIIlpeneatiCA tor each
year or service as "lfmer", and pro'ri.dins tor the portion ot C<llllpensation to be in-
cluded in compu?-tione under said lawJ and
WHEREAS, one· ate'D in said prooedun b the adoption by the lepalative 'bod1' ot
the public agency, of a resolution giving notice of ite intention to approve an amend-
ment to a contract between said go'fttming board and the Board ot Administration of
said Retirement System, providing for said partici~tion, which said resolution. shall
contain a summary of the major provisions of· the ~posed Retirement S)"stemJ and
WHEREAS, the following is a BWIIIIAJ')" of the major provisions of the proposed
Retirement System&
1. Thi System is administered by a board of eight.m•'bers, composed of
three mtobers or the System, an attic~. ot .a bank, an official of a
life insurance compaey, the D.il''8ctor ot,'I::J'iha:nce, a in81Dber ot the state
Personnel Board •. and an official ot the University of California.
2. Retirem'!nt for t;ervice is optional upon attainment of age SS by l?-
c.1l firemen and local policaiten, and age 6o or age s~ at the election
ot the FUblic Agency, by othE~r employees, and completion or twenty
years of service for the PubJJ.c Ageney, and is oompiil.sory at ace 6S
for local firemen and local pol1c811lent and at age :70 for other employees.
a
3. 'lbe monthlJ' retirement allowance p&J&ble upon retirement tor service
is dependent upon such ractox•s aa age 1 sex 1 salaey and years of ser-
vice. For local tiremen and '·local policemen, ~tiring at age SS in
paragraph 2, or at a higl"er age with 20 years ot terri.ce, the month-~,. ~allowance is approXim&tely one--halt the &wrage mon~ ala:ey
during the five years illlmediately 'PNCeding ~·•ti~t, unless the
Public Agenay elects to provide prior service beneti ts at less ti.l&ll
the full amount. For other Agenc.r employees, the mon~ allcmmce,
upon retirement at age 6S if iihe Acencr elncta 60 ~·· .lonet op-ti~\111 service retirement age, ie approximatel7 1/ · ot the aver-.
age JllOnthq salary. during the tiw years illlllediateq ceding.
retirement, tor eaeh year ot eemce after the etteotiw date or
participation, plus approxima~ 1/?oth,: or lees as may be pro-
vided in eaid contract by' the Pu.blic Apncy tor i t.a Mpl.oyee•, of
"final. compenaatiOI'l" or ot the avvage JLOnthq salal"1 dur~.ng tha
three years iDiedi&tely preceding the etfecti '98 date or partici-
pation, for each year of sen:Lce prior to that date. Upon retire-
ment at age 60, if the agenoy elects 5S as the lcnrest optional
service retirement age, the traction is appro:dutely l/60th instead
of l/70th.
'
'
. "
F l22d - l ( auar~ ~ & Caup.) lo-SO
,.
'·' ·,
!I
It i' :;
ii l
I
'
I I·
fi
,·
f '\
.,
;s,
'i ' '
. '·"-~
... ~· ' ... ,
e
.
"'
' ~--~--···· ___ _,_ ... , .,,,.,,._,..-.. ,,._,_,,.,, .•. -......... -.1~.,"''1-} _,_ .... _~!.. ,._ . -~· ·--· .. ~·~'"'''• -~.:-.~::---~ .•.• , ... _'..::.:_~:-:;.:.::-:::-.: .. ~.~~-.... -.. ..---~ •••••. ~ ... ----..... -~ .. ---,.--------~ ----~·----•
t~ ,i ) \..;
4. A minimml service retirement &UOTtanee ot 140 per month ia ftu&r.anteect
upon retirement at age 10 with credit tor service Hllderecl prior to .
said etteotive date, it the ~~lie Apncy elect. age 60 &I the loweet
optional aemce retireent ap, or a DdnimUm.~ ot 860 per
month upon reti~Wtent at 1\18 6S ~·over witb twlntJ ·te&l'l ot •enloe,
or upon ntireas4tnt at aae 70 with areclit tor prior ae:"V!oe, :U the Plab-
lic Agency eleota age S5 •• the lon8t optional.· ter'fiee retj~ent ••~·
I I
S. Retirement for diaabili ty, except in the oaee l)f local t1reaien Nlcl lo-
cal policanen · dieabled .trom in.1uz7 ariting out of and, 1n the! ccmrae
ot anplO)'IUint, is P•mi tt4ild ~ alter t.n )r•rt of eemce :and upon
proot ot incapaoi v tor the perto1'111&nce ot duty. . · ·
6. The mOJlthly retireen.t ano..nce payable upon diaa~Uity ret1ntaent·1 ·
deeoribed in preceding itAia S,"it dependent upon euch tactore as ~p,
sa1&17. and r•r• of aemce1 ·but pneran, is equal to· ~ o,t 1/?0th,
or l/60th •• the case Jl&1. be, ot the • .,.rap month~ Alar,y durln:g
the tiw years illlediattly preceding retiNHnt, tor each year of
service, \dth a aua:rantK: ot 2S~ ot said ealary, subject to ·certain
reetrictione and moditic&tione. _ !
7. DiobUity retirement or local tiremlft and local polic.m, in the
event of di&&bility arising out ot and in tho course ot emplc,ment,
is permitted raaardleaa ot *P ancl service; the mor~thq retiJrtment
&llnanoe · beinc one-Mlt the .• .,...,. 11011-t.hq salary dur:lng the tift
years immediate~ preceding retirtmen"G,
a. 'l"'e benefit PI\Y&ble at death be.t'ore retil"alle'a'lt, exoe:p~:. in the cue of
local firemen and local pollcemen ctring traai injury ar111n1. :P".lt ot
and. 1n the couree ot· cplO)'ment, consists ot the contri'bu+-:cn. ot ·the
member ~us intereat, and plu. i./12th ot the mebe:t 11' ~.,::· . ...al 11&1417
during the rear :lmmediateq preoetU.ne death, tor e&olV..fe&r, not ...
ceecting six yearl, ot service •• 11 mfl!lber of the Sy~tem. Upon ~th
after retirtMftt, and at the lleciM.en of. the PubUo Apllq, a bene-tit of a. 11 pajable. · ..
¥0fJ . . .•
9. The mon~ allowance parabl• to ·the widow ancl children, at the d•th
of local f.il'IIUD and local polio•• .arising ou.t ot and in t)he ooune
ot 111t,tll.01Jilent, ie one-halt the &VIWt&e mont.M7 eal&l')' ~: the: tiw
)'e&Z'a iaedia~ pr.oeding death.; ·
10. 'l'be benefit upon aeparation hom. nerviee by othtr oaula than! d•t-Jl
or retirtlllent, 11 tbe refund ot the member'• oontmblltiou, [With! in·
tereat. Members hav:Lna aootaalat4!d contri\N.tiona ot at leatt ISOO
upon resignation or diacharp, DYQr elect ir:.~. .. '90oabll',, withiD IWlety
daya 1 to leaw contri'but:S.ona 1n ttle Retirement J'urad, and tb• upon
reaching tb• loweet optional serv:!~oe retU.Ct ... o,. 'tJeOc'lrf'• cii.a•
&bled, to be entitled to receift eluch r.it:!Naent all.dlllltce ~Will
be provided b1 their and. the Aaencr'• contribu.tion• •• their :
•credited semoe, rep.rdl•e of a~tmce rend-red. ' 1
·I
•
•
. . ..
f j •.
j
J
I; :.
•
•
........
~ "\.
• '•ft\ :~·~ ~
I .. f:"r
.•' ·~ •') ~" · ... , ..
• w ,. ~.
...... 'h:-• .. ~ '
"'::· '-t" "l. . ,.\ ;, ~ _.., ...... l:· ' ~~ "' ... -~ ·_A ..... ,
I-t7 '.: :. .. -': ~ ·.-.. Y.:, -t
., : .. \:~~. ~.. ~
·\· 14 ... .... ·. ' (~ ~~
..
,
~.:--·
e
" ( l
,.
•
•
---••• " 1 ....... . .l . .. ~ .... l
(,"'' i "' I
U. Contributions required ot lo~l t~.re.a.en and looal polic•en, w1:thout
credit tor prior aervice, depend upon ealar;y aM. upon ap of enu,-into
the RetiNDent System, the contribut:!.ons p.r 11.00 ot aaJ.arr 'V'IlJ'7iDI
trom t1.63 at entry as• 21, to &'J.4.3S at entrr ca• 3S. Contributiou
ot fi:.;~.J.tn and poUctlllal havJ.Dc oreclit tor prior •rri.Oti dieperld on
ulary, entry qt, and IIIOUDt ot pr:l.or service, the -.mt ot OOiltri!N•.
tiona per t:LOO beinl t1,6.)) tor ~mple, at •tl7 •1• $4, 1w1th 19 yean
ot prior eervioe. ' · · : ·
12. ror other Agencr,r employees, the ccmtri'blltions depeNt 1IPOft sal.&:eyo, ••
and ap of entry into the Retirement Syatemi tt.e oontribu.tiafta per tlOO
ot salart varying from 84.62 at •s• 20, to ~ .99 at ace 64, tor 11511
and trom tS.)6 at age 20, to ~.45 at ap 64, tor waaen, ~U based on
the Public .Agencr,r's election of age 6o as the lonst optic:mal •erv.lce
retireunt age. It' tha Public Agenq eleotl age SS u the lmnet op-
tioMJ. service retirement age, the contributions per 1100 ot 1al..t.J7
var.v trom $7 .)6 at •se. 20, to t:to.ee at ace S9, tor men, .uv· fra te.lS e.t aee 20, to 112.81 at age S9, to~! WQD81'l4 · ··
13. The Agency 1e required · to ·contribUte tn.e balance of tllnd8: nect~asar,y to
meet the cost of the bene.fite prpvided under the Retirement Systftl tor
the Agency employees. The AgmOT also is required to pq' its propor-
tionate share of the adminietratiw costs of the Systeaa.
14. Ability ot the Retirement Syat• to pq beneti ts :1:t satee~rdecl b¥ a
provision authorising the Board ot AdminiatratiCm to reviJie. contribu-
tions of both .aployees and the Agenoy I in the light or eatperieDCe
under the System.
m· IT RraOLVED, that the CI!Y COUIOIL ot . (Name ot QO'Nfii!i\g IOCiiT
the fH lALO fTO , give, and it hereby ~iwa notice ot inten-
(Yame o bl. c . pney
tion to approve an amendment to the cont.3ct betnen said ,_£I'fl ~~
( 0 :m-~
and the Board ot Administration ot the State &aployeea' Retiraent Sya·t.•, pro'9idi."l8
for the participation ot aaid CI(imeM 'M Pi£ ·· in raid Retire-' of: lie gen<iiJ
ment Systeai, a: cow ot said amendment being attached hereto, marked "Exhibit A", and
by reterenoe made a part hereof.
·,. CI'l'f COUHCIL
(N'ue ot OOwm~J
1\r +i vv 1#/' v' 4t/ -., F--v • ~ ~ =>= r Wfll.j 1 ¥11i1-
IH £ l'tl:t~9 --!1 1,~~
Pl2l4 -3 (.Qaar. • • Casp.)
1 l j
!
I I
•
j
~ :. ii I
•
•
•
. \.
.to\.·:.,_ --:(·r~·:_ .... _.;•. _,.... . f'" • ... ·4( ... :\-· _, ·: . l ., . . . ) . -. . . . ... ·"'-·· .... . . c-· . ,. r • ,: ; ·. . .• ,. . · .. ,·~.;~:~;?.;
~
'1 .... '"( ~ 1:o .:.., ...
. "', j ~··~~. · ..
,:, .,) .. ,."· , . ..........
., -,.;..• ..
• j_ • ..•. .. .
..
•
('
•
,.. . •• AMIJ;ND!·Th."'~~lT TO CONTRACT Bl~'NEEII THE
BOARD OF AOONISTRllTIOI
STA'!'E l!MPLOY.aS 1 RETIRD~T SYSTJ!M
/U:D THE CITY COUNOD~ OF THE
CITY OF PALO AL~r<>
"Bzh1b1t A"
The Boare of Administration, State :bplc)yees 1 Retirement Syst•, and the CI'l'I
COUNCIL of the City of Palo Alto, hereillUter :refened to as Agenc7,~ having
entered into a contract under date of Marc~ 9, 1942, effective Januar,y l, 1942,
which provides for the participatiou of said Agency in said Retirement Syst•, and
said Contract being based on the Retirelll$nt Law exclusive ot amendments thereto
which changed bene!its o.f retirelltint; 3.!dd Board of Administration and said em
COUNCIL hareby agree as follows:
l. Paragraph 9 shall be and is h~reby stricken from said Contract.
2. The following paragraphs shall be and an hereby added to said ·
Contract&
• 9. The provisi~ns of Section 21367.51 of the State ~ployeesl
Retirement Law, providir1g a $400 death benefit afte-r retirE:-
mont SHALL APPLY to persons who a.re members \)ecause of .,mpl.oy-
ment by Public Agency. · ·
13. The provisions of Section 20021 ..• 01 of the Sta.ttt Employees'
Retirement Law, which provide that "final compensation"
shall Il'aan the highest average annual comp~nsation earnable
by a member during any period of three consecu.tive years
during his membership in the System, $HALL APPLY to en~ployeea
of Public Agency who become member"' o1' said Retirement Sy1tem.
3~ 'l'he cost of suoh applicatJ.on, except paragraph 91 not lendJ.ng Uselt
to ready determination in advance 1 shall be detertdned by the 3oard
as necessary shall be included in the contributions tr.eru.i'ter re-
quired o1' Age£'1CY' under said Contra,:t.
4. The percent stated in paragraph llb shall be a.merded to ret~ 5. 924.
• 5. This amendment shall be attached to oaid Contract and shall be ef!~ct~ve
as of . __ 1954·
Wit.nns our band this day' of _1954
BO.Am> OF AIIUNISTRATION
STATE :BMPLOYESS 1 ~IRII'W£NT SYSTI!l1
BY President
Attest:
Execut!vft Officer
•
I
cnY COUNCIL OF THE
Cln OF PALO ALTO.
'BY . _ __,.P"""re-rJi~ding~~O,..,f~f~ic_e_r_
• Attest&
Clerk
.........
•
' !
"
•
·~ ,,