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Last modified
9/19/2022 8:38:14 AM
Creation date
9/19/2022 8:38:00 AM
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Ordinances
Number
602
Date (Introduced)
8/18/2022
Date (Adopted)
9/15/2022
Description
Amendment to the Contract Between the Town and the Board of Administration of the California Public Employees Retirement System
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5. In addition to the classes of employees excluded from membership by <br />said Retirement Law, the following classes of employees shall not become <br />members of said Retirement System: <br />a. SAFETY EMPLOYEES; AND <br />b. - ELECTIVE OFFICIALS. <br />6. Removal of the exclusion of "Persons Compensated On An Hourly Basis," <br />pursuant to Section 20503, is declarative of agency's previous <br />interpretation and does not mandate any new classes of employees into <br />membership. <br />7. The percentage of final compensation to be provided for each year of <br />credited prior and current service for classic local miscellaneous members <br />entering membership in the miscellaneous classification on or prior to <br />September 1, 2011, shall be determined in accordance with Section <br />21354 of said Retirement Law, subject to the reduction provided therein <br />for service prior to March 31, 1976, termination of Social Security, for <br />members whose service has been included in Federal Social Security <br />(2% at age 55 Full and Modified). <br />8. The percentage of final compensation to be provided for each year of <br />credited current service as a classic local miscellaneous member entering <br />membership for the first time in the miscellaneous classification after <br />September 1, 2011, shall be determined in accordance with Section <br />21353 of said Retirement Law (2% at age 60 Full). <br />9. The percentage of final compensation to be provided for each year of <br />credited prior and current service as a new local miscellaneous member <br />shall be determined in accordance with Section 7522.20 of said <br />Retirement Law (2% at age 62 Full). <br />10. Public Agency elected and elects to be subject to the following optional <br />provisions; <br />a. Sections 21624 and 21626 (Post -Retirement Survivor Allowance). <br />b. Section 21024 (Military Service Credit as Public Service). <br />C. Section 21574 (Fourth Level of 1959 Survivor Benefits). <br />Ordinance 602 Page 5 <br />
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