HomeMy WebLinkAboutRESO 4377•
93 7
RESOLUTION NO. 4103•14-
10 ORIGINAL
RESOLUTION OF THE COUNCIL OF THE CITY OF PALO ALTO
OF INTENTION TO ADPROVE AN AMENDMENT TO CONTRACT
BETWEEN THE BOARD OF ADMINISTRATION OF THE PUBLIC
tMPLOYEES' RETIREMENT SYSTEM AND THE CITY COUNCIL
OF THE CITY OF PALO ALTO
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 con-
tract, and sets forth the procedure by which said public agencies
may elect to subject themselves and their employees to amend-
ments to said Law; and
WHEREAS, one of the steps required in the procedure to
amend this contract 4.s the adoption by the legislative body of
the public agency of a resolution giving notice of the intention
to approve an amendment to said contract, which resolution shall
contain a summary of the changes proposed in said contract; and
WHEREAS, the following is a summary of the proposed changes:
1. Retirement allowances payable for time commencing on the
first day of the calendar month coinciding with or next
following the effective date of this amendment to or on
account of any person whose retirement became effective
on or prior to Deceir er 31, 1966 are hereby increased
according to a sliding scale ranging from„ two percent for
those whose retirement became effective during the twelve
months ending December 31,::%66, to a maximum of twelve
percent for those whose retirement became effective prior
to January 1, 1962.
2. A monthly allowance shall be paid to certain survivors of
a member who dies before retirement,.
NOW, THEREFORE, the Council of the City of Palo Alto does
ABSOLVE as follows:
SECTION 1. That the City Council of the City of Palo Alto
gives, and it does hereby give notice of intention to approve
an amendment to contract between said City Council and the
Board of Administration of the Public Employees' Retirement
747.4Z -f_
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System, a copy of said amendment being attached hereto, marked
L'%E IT A d. by t is r --f r3nc •din , .� s. i -c
a ari+ and `..i V�V��VV •:1w o �.a j./Oj. �. LiCgGVL.
INTRODUCED AND PASSED: September 8, 1°70
AYES: Arnold, Beanrs, Berwald, Clark, Coinstock, Gallagher, Wheatley
NOES : None
ABSENT: Dias, Norton
ATTEST:
c
AP ED AS TO FORM:
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t:AA
e!ir '^ h
C y ttorney
APPROVED:.
Ci y ..ontr 1 er
APPROVED:
CERTIFICATION
1 hereby certify that the foregoing is a true and correct
copy of a Resolution adopted by the City Council of the City
of Palo Alto on Monday, September 14, 1970, the original of
which is on file in the Office of the City Clerk of thR City
of Palo Alto.
1
City Clerk
ATTACI:MENT C
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EXHIBIT A
BC -''.;t3 :-:1 1 ;:ti TICI SYSTEM
CITY COUNCIL
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CITY CP PALO ALPO
7'3:e ioerd of A,Ilinistration, Public im:plopees' Retirement u"yste:►, hereinafter
T forrsd to .13 ?chard, ale! the CITY C'i ;;CXL of the CITY CY ' tLO A .T^., hereinafter re-
ferred to as ?also h ,ccy ?saving entered into a contract undor date of :arch 9, 1942,
effective January 1, 19142, and as araes.ded eftactive January 1, 19L3, April 1, 19=j9,
January 1, 192, July 1, 19514A l'obrnary 1, 196, ;:ovenier 1, 2.96!:, and Se;:terber 23,
1963, which proviuos for participation of Public Agency in said Sy:;ten, Lour 1 and
:'bbl c Agency hereby agree an follows:
A. The following subpa,a raphs s4a11 be ceded to said Contract:
8 (k) Section 21251.7? (:}rovidia ; for increases in allowances payable for
tire c; nmanoin7 on the first drat; or the caiorAer month coinciding
ulth or next follo4.►g tho eLfectivc date :,f this amendment to per -
stns retired prior to January 1, 1967).
8 (1) Sections 21330-7 (pravidinC for a11oaa:tctiq for survivors or moihers
covered tisa r tho program upon death before retirement).
B. ?ara:-raphs 9 (a) aid 9 (b) shall be stricken from said Contract and the follow-
ing paraCrapte a bltituted therefor: -
9 (a)
With ravect to miscellaneous members, the public a orcy shall cootri.-
bute the following percerttat!ei of monthly salaries ear:aed as saiscel-
1a nea•.is Acrbars of said Systems
(1) 1.338 p:rcont until December 31, 1981 on account or tioa liability
(2) 9.033 percent on account of the liability for current service
(3)
for prior service benefits.
bonefite.
15.01 per'month for each menber covered under the provisions of
Section 2130-7 (eFAS Survivor program).
9 (b) With rosy►eat to lneal safety members, the public a,;eiloy shall contri-
bute tho frllo}'inr percentages of monthly salaries earned as local
8Rf oty ►ro bar.; of said wyste '.:
•
2.:,:.7 !xi—cent,..;t.ii r.c^:.�.,r 31, 193. on zcc:_nt cr the for prf_or c€!rvico reh ati.
t -),29L ptrcent c. : cco t of the 1i btl tr for c.:rr nt service -
:5.0) par .Tony for each xd'-Sbor cyv'ored tit_:;.:r the p ovIi ,oils
of Soctiozl .13.3)-7 (;', 3 ;;:rvi: or : rei r t).
C. This e:sor .::s,.t shail be ait;,c et to aid Ccrt.aE:t c::;a sLail trcoze effective
ea the - day of •
Vi tr:C3B our t.ar s his duyt of — •
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