HomeMy WebLinkAboutReso 1959-2329 f.
v. •
No. 2329
RESOLUTION OF INTENTION TO APPROVE AN
AMENDMENT TO CONTRACT BETWEEN THE
BOARD OF ADMINISTRATION OF THE
STATE EMPLOYEES' RETIREMENT SYSTEM AND THE
CITY COUNCIL
OF THE
CITY OF CHULA VISTA
WHEREAS, the State Employees' Retirement Law permits the participation of public
agencies and their employees in the State Employees' Retirement System
by the execution of a contract, and sets forth the procedure by which
said public agencies may elect to subject themselves and their employees
to amendments to said law; and
"WHEREAS, one step in said procedure is the adoption by the legislative body of
the public agency of a resolution giving notice of its 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 chang:
1. The minimum monthly retirement allowance for any person who
retires at the compulsory age of 70 with prior service shall
be $100.00 instead of $60.00. The $100.00 minimum guarantee
shall also apply to any member who retires after age 6o with at
least 20 years of service.
NOW, THEREFORE, BE IT RESOLVED, That the CITY COUNCIL of the City of Chula Vista,
gives, and it does hereby give notice of intention to approve an amend-
ment to contract between said CITY COUNCIL and the Board of Administration
of the State Employees' Retirement System, a copy of said amendment being
attached hereto, marked Exhibit "A" and by this reference made a part
hereof. .
eity Bouncil of the
City of-Chula Vista
By ,ems,.,r/.L� �.rc_.a
G '
)ame
Title Mayor
October 6, 1959
Date 2 ted nand Approved
Form 122
•
AMENDMENT TO CONTRACT BETWEEN THE
BOARD OF ADMINISTRATION
STATE EMPLOYEES* RETIREMNT SYSTEM
AND TEE
CITY COUNCIL
OF THE
CITY OF CHULA VISTA
The Board of Administration, State Employees* Retirement System, hereinafter
referred to as Board, and the CITY COUNCIL of the CITY OF CHULA VISTA, hereinafter
referred to as Public Agency, having entered into a contract under date of
August 31, 3948 effective October 1, 1948, and as amended effective October 1, 1951
and November 1, 1955, which provides for participation of Public Agency in said
System, Board and Public Agency hereby agree as follows:
A. , 'he following phrase is added to the sentence which constitutes Paragraph
Number 1 of said agreement:
**except such as apply only on election of a contracting agency
and are not provided for herein and to all amendments to said
Law hereafter enacted except such as by express provision
thereof apply only- on the election of contracting agencies.**
B. Paragraphs 4$ 5$ 6, 7, 8, 9, 10, 11, 12, 13, 14 and 15 are hereby stricken
from said contract as executed effective October 1, 1948 and as amended
effective October 1, 1951 and November 1, 1955, and are hereby replaced
by the following paragraphs numbered 4 through 9 inclusive:
4. All wards and terms used herein which are defined in the State
Employees* Retirement Law shall have the meaning as defined
therein unless other' se specifically provided. **Normal retire-
ment age" shall mean age 60 for miscellaneous members and
age 55 for local firemen and local policemen.
5. 1160 shall be'the fraction of final compensation to be provided
for each year of credited current service as a miscellaneous member
upon retirement at normal retirement age,
6. Benefits on account of each year of prior service shall be 100
percent of the fraction of final compensation provided under the Law
and this contract for each year- of current service upon retirement
for service,
7, The following provisions of the State Employees► Retirement Law which
apply only upon election of a contracting agency shall apply to the
Public Agency and its employees:
Bet. Form 70271
(1) Section 21251.1 (providing for a guaranteed percentage of final
coo nsation for each year of current:service as a miscellaneous
member):..
(2) Section 2125244 (providing for a guaranteed percentage of final
compensation for each year of current and prior service as a
local safety ember)`
(3) Section 2002/441 (defining "final compensation" on the basis of
a period'of three consecutive years).
(4) Section 21258.,1 (providing a .minimum retirement allowance of
$1200.00 per year subject to certain. conditions).
(5) Section 21367,51 (providing a $400.00 death benefit upon death
after retirement)
(6) Section 2005 (providing for inclusion of compensation without
limit in computations in which compensation is a factor).
(7) Section 20952.,5 (providing for age 50 as the minimum voluntary
retirement age for local firemen and local policemen).
(8) Section'21251..3 (providing' for the recalculation of allowances
to persons retired prior to October 1, 1951 for time eommencing
on October 1,. 1951 in accordance with this contract as amended
effective October 1, 1951 provided that no allowances are to
be decreased by such recalculation.. "Final compensation" for
such recalculation shall be determined in accordance with
Section 200214 instead of Section 20024.01),
8., Public Agency shall contribute to said Retirement System as follows:
a.,. 1.608 per cent of total salaries each month for 25 years less
the years elapsed between the effective date of the contract
and the effective date of this amendments on account of the
liability for prior service.,
b.. 6..942 percent of total salaries paid by PubIie Agency each
month to its employees who are and hereafter become members of
said Retirement System, provided that only salary earned, as
members of said System shall be included in said total salaries.
c. A reasonable amount per 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 of the periodical investigation and valuation required by
laws provided that said amount shall be determined on the basis
of the number of employees of Public Agency who are members on
July 1 of the respective fiscal years, or with respect to the
first year of participation, on the effective date of said
participation.
Bet. Form 702--2
d. A reasonable amount as fixed by the Boards payable in one in.
stallment as the occasions arise, to cover costs of special
valuations on account of employees of Public Agency, and costs
of the periodical investigation and valuation required by law,
9. Contributions required of Public Agency and its employees shall
be subject to adjustment by Board on account of amendments to the
State Employees' Retirement Law, and on account of experience
under the Retirement System, as determined by the periodical in.,
vestigation and valuation required by said Retirement law.
}. Contributions required of Public Agency and its employees shall
be paid by Publio Agency to the Retirement System within thirty
days after the end of the period to which said contributions .rifer.
If more or less than the correct amount of contribution is paid
for any period, proper adjustment shall be made in connection
with subsequent remittances, or adjustments-on account of errors
in contributions required of any employee may be made by direct
cash payments between the 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.
C. This amendment shall be attached to said . . ract and shall become
effective on the 1
/_� - day of C)
Witness our hands this / (o v day of /
BOARD OF AAMIMISTRATI0N
STATE BMPLO EES I RBTIRBih T SYSTB CITY COUNCIL
OFTF
CITY P CHULA VISTA
Attest, . �►! .'. .At/ Ali / L
By Attest:
it iam E. Payne, utive ficer
if
A -��yt , i .. �..r//
er.-
Ret. Fo= 702-3