HomeMy WebLinkAboutReso 1970-5528Form No. .,?42
Rcv ~~ ~ 1-69
RESOLUTION NO, 5528
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA, APPROVING AGREEMENT BETWEEN THE CITY Old HiJL.
VISTA AND PUBLIC EMPLOYEES' RETIREMENT SYSTEM
AND AUTHORI ZING THE MAYOR TO EXECUTE SAID AGREEMF?~7`"
The City Council of the City of Chub Vista deg hereby
resoa~=e as follows:
NOW, THEREFORE, BE IT RESOLVED that that cerr_aln ~:g:G~-T~:~~ r
betwFera THE CITY OF CHULA VISTA, a municipal c^:rporation, and
Public Employees' Retirement System
dated the day of 19 ~ ropy of w~~-~.~er
~s at*ached hereto and incorporated herein, the same ash=~+.~qh *~:: y
set forth herein be, and the same is hereby approved,
BE IT FURTHER RESOLVED that the sum of $25.00 be appropriated
from the unappropriated surplus of the General Fund for actuarial
evaluation of benefits under the retirement system.
BE IT FURTHER RESOLVED that the Mayor of the City ~.* ~.h.r ~.
Vista be, and he is hereby authorised and directed to exe:+~ut.~- ~~~:,~
agreement for and on behalf of the City of Chula vista,
PresQnted by
A (( ~
r+~l L~ __T.~-F-_._.__
~-om G. Mc abe, Director of
Personnel
Approved as tv f//Jo~a^~m by
~/ `A f
~° 1
-r'
George D. T~ndberg, City Attorney
,~
ADOPTED AND APPROVED by the CITY COUNCIL of r_he ~:I'TY a F -~~3 :J1
GdISTA, CALIFORNIP,, this 3rd day of February ~y 70 by rr,
following vote, to-wit: - ~~_
AYES ; Counc~ Lmen McAllister, Scott, Hamilton, Hyde
NAYES ; Councilmen None
ABSENT: Councilmen Svlvester
C~~ ---~ ~ ~ _ _
Ma or of the C r t ~ f ~:r. _. T~vi~ + a v
Y y
t_
A T T E" S T '`~ ``~ ~ -G '
City Clerk
~7['A'TE Off' CALIFORNIA
CO€~NTY OF' SAN DIEGO ~ ss ,
CI'T'Y Off` CHULA VISTA 1
I, City Clerk. :~f trcC~ Ca ty -
`'sta, Cnlifoxnia, DO HEREBY CERTTFY that. the above , s _ ~ F
__. _~ ,
~~- t copy of Reso ~.uti.on No. and that tY~e r.a-rye ~ -~ .:
am~~~ed or xepealed, DATED
COPdTRACT OF ~~~~ ~~ ~'~"~ ''~~~~'~
~dITH THE PUBLTC EMPLOYEES' RETIREP~IENT SYSTEM
FOR MAKING A VALUATION AS STATED HEREIN
By this AGREEMENT made this day of , 19 , in
accordance with and subject to the provisions of the Public Employees' Retirement Law,
t`~"T°Y ~~~ of the ~,~~'~' rya C33~~. +r". T~1
by and between the
hereinafter ref erred to as Agency, and the Public Employees' Retirement System herein-
after referred to as System, Agency and System agree as follows:
A. Agency herewith retains the services of System to perform, as of
the valuation required by Section 20+61.1 of the Public Employees' Retirement Law
for the purpose of determination by the Board of Administration of the Public
Employees' Retirement System of the contributions to be made by Agency under
Agency's contract with said Board if the benefits under said contract, described in
the attached Exhibit A, are changed as follows:
Change item ( s ) ~ " ~'~ ~c~l~.~ ~~~ '~ t~ } from the
description in Exhibit A to the description in the attached Exhibit B.
B. Agency will pay ~~~" to System upon completion of the valuation,
such fee being based on the number of persons and membership categories involved.
C. Any and all data and information requested by System from Agency for use in
compilation of this valuation shall be furnished to System by Agency upon request
by System. The actuarial tables and procedures to be used in the valuation shall
be in accordance with the tables approved by said Board of Administration.. System
shall have sole control of the valuation and its judgment in the determination
thereof shall be final and conclusive. All work sheets and final results and
reports, the product of the valuation, shall be and remain the property of the
System.
UTitness our hands the day and year first above written.
PUBLIC EMPLOYEES' RETIREMENT SYSTEM "'~$ `~'~ '-~ ~"`' '{~~'~~"~
BY
William E. Payne, Executive Officer
BY .1.~ ~C , i
TITLE t~layor
Amendment
Ret. Form 424-a (Rev. 6/68) 500
Contract Status as of September 191967 for CHULA VISTA, CITY OF Code 0195
Status ~°~l~ase num-b~~° 128
Amended: 10-1m519 llm1~559 1m1m60~,
lml®619 9®1-67
1.0 Coverage:
1.01 SERS since.
]~.02 OASDI since (D=Div:, A=All)
1.03 retro to. ~ .
l.OL~ Former Group A re-employ as
1.05 Refund retro OASDI ad j. contr.
2.0 Local System.
2.01 Use age for contr. rates. .
2.02 Employee contr. transferred .
2.03 Retired lives transferred .
3.0 Retirement Formula:
3.01 Basic Formula
3.02 Percent for P/S .
3.03. Miser P/S improved to. .
3.01 Minimum Retirement Age. .
3.05-.Minimum Guarantee .
3.06 Mod lst $ for QASDI from
3.07 until .
3.08 thereafter lst.$. to.
3.09 thereafter 1st $ to.
3.10 Ordinary disability formula .
3.11 Disability limit (section). .
1t.0 Compensation Average:
4.01 For P S Benef its. .
4.02 For C/S Benefits. .
I~ . 03 Gr. s inc e
L~.04 Include overtime. .
5,0 Post-retirement Death Benefits:
5.01 Lump um. .
5.02 1/2 continuance ( 2126l~ )
6.0 Pre-retirement Death Benefits:
6.01 Local System contr. credit .
6.02 Local System serv, credit .
6.03 'S7 Survivor (21365.5) since.
6.0l~ 'S9 Survivor (21380m 7) since..
.u ~pec~al service:
2093 or 20580 effective Not Applicable Alpha 065c~
iscellaneous Local Safety
Fire Pol.
10-1-~8 ~ ~ 10-1m1~8 ~lOml~Zt8
e
- X:{X7~
No No No
0 Disc
F
3x llmlm55 3x llml®
x 11-1- 3x 111 5 3x llml-
10-1-L.8 Oml- 8 10-1®L.8
No u~ N~
j1-1-61 I 11=1=61 fl~l-61 1
Entries
7.02 C/S ® non-cont. agcy. (20818_) No
7.03 Mil. Q agcy. cost (2089l~.5) No
7.04 P/S with 10 yr. C/S (2083l~.1) No
7.05 P/S wage other source (20839) No
usions & Remarks
~l to all rou s
.0 Allowance Increases:
8.01 To member formula (21251.3) 10-1m l
8.02 $100 min. guar. (21'258.2). No
8.03 ' S5 to pre-3 yr. ave. (21251.l~) No
8.01 'S7 to pre-7/2/56 ret.(21251.5). No
8.05 For 20831.1 service (2o83J~.2). No
8.06 For 20839 service (20810). No
8,07 Q63 to pre~l/1/62 ret (21251,6), mlm6
i~~~1I~Z'f A
'"~ y
;~~_ - ~-~ .2.~
p~'~' ~I (1NM ~~~-C I AoTT R /~~ 1
Contract Status as of
Status release n~zrr~laar
Amended:
1.0 Coverage:
1.01 SERS since.
1.02 OASDI since (D=Div:, A-All) .
1.03 retro to. .
.1.04 Former Group A re-employ as .
1.05 Refund retro OASDI adj. contr.
2.0 Local System.
2.01 lise age for contr. rates. .
2.02 Employee contr. transferred .
2.03 Retired lives transferred .
3.0 Retirement Formula:
3.01 i3asic Formula ~. .
3.02 Percent for P/S .
3.03 Nji sc. P/S improved to.
3.04 Minimum Retirement Age. .
3'.05-- .Minimum Guarantee
3.06. Mod 1st $ _ for OASDI from
3.07 until .
3.08 thereafter lst•$• to.
3.09 thereafter lst $ to.
3.10 Ordinary disability formula .
3.11 Disability limit (section). .
~.7 Com ensation Average:
4.01 For P S Benefits. .
4.02 For C/S Benefits. .
4.03 Gr. since ( date) ~a~~r'f&rx.
4.04 Include overtime. .
5.0 Post-retirement Death Benefits:
5.01 Lump Sum. .
5.02 1~2 continuance (21264) .
G.0 Pre-retirement Death Benefits:
6.01 Local System contr. credit .
6.02 Local System serv, credit .
6.03 'S7 Survivor (21365.5) since.
6.04 'S9 Survivor (21380-7) since.
Entries
.0!~ _; ~~n n ,yr. C/S (2083!i.l)
.05 '!S w=ge. at;~er source (20?39)
;x::lusicns ~- :reerarks
for Code
20493 or 20580 effective Alpha
~~ a ~~~~b c d _~ _.___
Miscellaneous Local Safety "~~'~`~'
I Fire. ~Pol . -CPO .~
ow a 1 to all rou s
.0 Allowance Increases:
8.01 To member formula (21251.35) .
8.02 $100 min. guar. (21258.2). ~.
8.03 'S5 to pre-3 yr. ave. (21251.4) .
8.04 'S7 to pre-7~2~56 ret.(21251.5).
8.05 For 20334.1 service (20834.2). .
8.06 For 20839 service (20840). .
8.07 '63 to pre-1-1-62 ret (21251.6)0
8.03 '68 to pre-t-1-67 ret (21?51.75).
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