HomeMy WebLinkAboutORD 2758• 'ORIGINAL
ORDINANCE NO. 2758
ORDINANCE OF THE COUNCIL OF THE CITY OF PALO ALTO
AUTHORIZING AN AMENDMENT TO THE CONTRACT BETWEEN
THE CITY COUNCIL AND THE BOARD OF ADMXNISTRATION
OF THE CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT
SYSTEM
The council of the City ~f Palo Alto does ORDAIN as fol-
lows:
SECTION 1. That an amendment to the contract between the
City Council of the City of Palo Alto and the Board of Admdnis-
tration of-the California Public Employees' Retirement System·
is hereby-authorized, a copy of said amendment being attached
hereto I marked EXHIBIT A and by such reference made·-a part
hereof as though herein set out in full.
~~~~ The mayor, as presidinq officer of the Ci~y
Council is hereby authorized, empowered and directed to execute
said amendment for and on behalf of the City.
SECTION·3. This ordinance shall become effective upon the --
expiration of thirty days from-its passage.
INTRODUCED: Noveuaber 19, 1973
PASSED: December 10, 1973
AYES: Berwald, Comstock, Henderson, Rosenbaum, Sher
NOES: None
ABSEWT: Beahrs, Clay, Norton, Pearson
ATTEST: APPROVED:
Mayo:r
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APPROVED: . J_ cd~
• • EXHIBIT A
.IJdEN'DMENT TO COUTRACT BZT'UEEN THE
:OOARD OF ADMINISTRATION
PUBLIC El4PLOYEES 1 RETIREMENT SYSTEM
AND THE
CITY COUNCIL
OP THE
CIT"i OF PALO ALTO
!fhe :Board ot Administration, Public Employees• Re.tirell16nt System, hereinafter
referred to aa Board and the CITY COUNCIL ot the CITY OF PALO ALT'O, hereinal'ter
referred to as Public Agency having entered into a. contract under date of March 9,
1942, effective January l, 1942, and as amended eft'eotive January 1, 1948, Ap:r:il l,
1949, January 1, 1952, July 1, 1954, February 1, 1956, November 1, 1964, September
2't 1968, and December 14, 1970, and as provided oy Chapters 170 and 316, Statutes
of 1971, which provide for participation of Public Agency in said System, Board
8114 Public Agency hereby agree as follows:
A.. Paragraphs 1 through 11 are hereby stricken from said contract as executed
effective January 1, 1942, and are hereby replaced by the following para
grap~s n~bered l through 9 inclusive:
l. All words and terms used herein which are defined in the Public Employ
ees' Retirement Law shall have tb.P. meaning as defined therein unless
otherwise specifically provided. 11 Norrnal retirecent age 11 sr.all mean
age 60 tor miec~llaneous members and age 55 for local safety ~embers.
2. Public Ag~ncy ~hall participate in the ~tblic ~loyees' Reti~e~ent
System from and after January 1, 1942, making its employees as here
inafter provided, members of said System subject to all 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 all amendments to said Law hereafter enacted except such as by ex
press provision thereof apply only on the election of contracting
agencies. · '·"'"·
3. Employees of Public Agency in the following classes shall become mem
bers o! said Retirement System except su.oh in each such class as are
excluded by law or this B.gleement:
a. ·Local firemen (herein referred to as local safety members);
b. J,oc.al policemer (herein referred to as local safety members);
c. Employees other th$ll local safety members (herein referred to
as miscellaneous members).
The tollowiTJ.S ~m.ployees shall be excluded from membership in said
Retirement Sy.m: .
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PERSONS COMPENSATED Ofl L'f HOURLY BASIS
HIRED ON OR APl$R NOVEMBER 1, 1964.
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4. The f'J'action of final compencation to h0 provided for each yenr of
credited prior and current service au o. miscellaneous member shall
be that proYided in Section 21251~13 of said Retirement Law.
5. The fraction of final compensation to be provided £or each yee~ of
credited prior and current scF.rice as a local sai'cty member shall
be that provided in Section 21252.1 of the Retirement Law.
6. The following additional provisions of the Public Employees• Retire
went Law which apply upon election of a contracting agency sr!Bll
apply to the Public Agency and its employees;
a. Section 20952.5 (provtding for age 55 as the minimum volWltary
retirement age for local safety members with benefit payments
commencing prior to age 55 subject to actuarial discoWJt).
b. Section 21380-7 (providing for allowances for SWF~ivors of me~
bers covered under the program upon death before retirement)~
c. Section 21222.1 (providing for increases in allowances to wh5.ch
the annual cost-of-living provisions apply, payable for time co~
mencing on the first day of the calendar month coinciding vdth or
next follo~~ the effective date of this amendment to or on
account of persons retired or members decreased on or prior to
December 31, 1970).
7. Public Agenoy shall contribute to said Retirement System as follows~
a. Wit.h respect to miscellaneous members, i:he yublic agency ohall
contribute the follovdng percentages of montruy salaries earned
as·miscellaneous members of saitt System:
. (1) 0.33 percent until June 30, 2000 on account of the liability
for prior service benefits.
(2) 7.67 percent on account of the liability for cu.rrent service
benefits. ,
(3) 1 .. 00 percent on account of the liabi1i ty for the 1959 Surv:i.vors
program.
(4) 0. 76 percent for three (3) years from the effective date of
this amendment to provide for benefits under Section 21222.1
of the Government Code.
b. With respect to local safety members, the public agency shall con
tribute. the following percentages of monthly salaries earned as
local safety members of said System:
(l) 0.444 p·~rcent u.ntil June 30, 1981 on account of the liability
for prior service benefits.
(2) 10.208 percent on account of the liability for current service
.benefits.
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(:5) 0.056 percent on account ot the liability for the 1959 Survivors
progrOlU.
(4) 1.27 percent for three (3) years from the effective date o!
this amendment to provide for benefits urider Section 21222.1
ot the Government Code.
o. A reasonable amount per annum, as fixed by Board to cover the costs
of administering said System as it affec1;s the employees of Public
Agency, not including the costa of special valuations or the period
ical investigation ana valuation required by law.
d. A reasonable amount as fixed by the Board, payable in one install
ment as the occasions arise, t.o cover costs of special valuations·
on account of employees of Public Agency, and costs of the period
ical investigation and valuation required by law,
8e CloLtrib'..ltions required by Public Agency and ito employees shall be sub
ject to adjustment by Board on account of amendments to the Public
E:nployees1 Retirement La.w, and on aocount of the experience under the
Retirement System, as determined by the periodical investigation and
valuation required by said Retirement Law.
9. Contributions required of Public Aeency and.its employees shall be paid
by Public Agency to the Re tireme.ot System within thirty days after the
end of the period to which said contributions refer~ 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,
or adjustments on acco1mt of errors in contrib.J.tions required of any
employee !r-:3Y bs =1e by diroc-:. cash· payruants b€:tween tJ1e employee and
Board. Payments by Public Agency to Board may be made in the form of
warrants, bank checks, bank drafts, certified checks, money orders,
or cash.
·B. This amendment shell be attuche·d to said contract and shall be effective
on the day of •
Witness our handa this-------·---day of------------·
BOARD OP ADLD:NISTRATION
PlJBLl(! EMPLOYEES' RETIREMENT SYSTEM
BY~~~~~~--~~--~~~~--Willie.m E. Payne, Executive Officer
Attest:
Olerk
Rot. Poria 702-:S
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(3} 0.056 percent on account of the liability !or tho 1959 Survivors
program.
{4) 1.27 percent ror three (3) years from the effective date of
this ~.andment to provide for benefits under Section 21222el
ot the Government Code.
c, A naeom:tble amount pet' annum., as fixed by Board to cover the costs
of administering said System as it affects the employees of Public
Agency, not including the costs of special valuations or the period
ical ~nvestigation and valuation required by law.
d. A reasonable amount as .fixed by the Board, payable in one install
ment as the occasions arise, to cover costs of special valuations
on account of employees of ~Ablio Agency, and costs of the period
ical investigation and valuatio~ required by law.
a. Contributions required by Public Agency and its employees shall be sub
ject to adjustment by Board on account of amendments to the Public
Employees 1 Retirement Law, and on account of the experience under the
Retirement System, as determined by the periodical investigation and
valuation required by said Retirement Lawc
g. Contributions required of Public Agency aml. its employees shall be paid
b7 Public Agency to the Retirement System within thirty days after the.
end of the period to which ~aid contributions refer. If more or less
than the correct amoWlt of contributions is paid for any period, proper
adjustment shall be made in conn2ction vd th subsequent remittances,
or adjustments on accotmt of errors in contrib'.tticns required of any
employee may be =:l.de by diroct cash· pa:flilents bt:tween the employee end
Board. Payments by Public Agency to Board may be I!".ade in the form of
warrants, bank checks, bank drafts, certified checks, money orders,
or cash.
B., This amendment ahall be attaclla·d to said contract and shall be effecttv·e
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on the day of • : {
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'fitness our hands this----------day of------------·
BOARD OP ADMIHISTRATION CITY COUUCIL
PUBLIC EMPLOYEES 1 RETIREMEllT SYSTEM OE' THE
CITY OF PALO ALTO
BY~~~~~~--~~--~~~~--William E. Payne, Executive Officer
Attest:
Clerk
Ret. Porm 102-'
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