HomeMy WebLinkAbout1467 411
lir
RESOLUTION NO. 1467
RESOLUTION REQUESTING
THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM
TO EXTEND THE FUNDING PERIOD FOR
CURRENT SERVICE, DEATH BENEFITS, AND 1959 SURVIVOR BENEFIT
ACTUARIAL LIABILITIES
OF THE TOWN OF LOS ALTOS HILLS
WHEREAS, the Town of Los Altos Hills is a contracting agency of the Public
Employees' Retirement System; and,
WHEREAS, the Town of Los Altos Hiils is anticipating budget deficiencies due to
decreasing revenue sources; and,
WHEREAS, the Town of Los Altos Hills has been advised by the Actuarial Office
of the Public Employees' Retirement System that the Town of Los Altos
Hills may request the extension of its funding period for current
service, death benefits and 1959 Survivor Benefit actuarial
liabilities to June 30, 2011 , under the terms of the contract with the
Public Employees' Retirement System;
BE IT THEREFORE RESOLVED, that the Town Council of the Town of Los Altos Hills
does request the extension of the funding period for the current ser-
vice, death benefits and 1959 Survivor Benefit actuarial liabilities
to June 30, 2011 , under said agreement and further resolves to direct
the Town Clerk to forward a certified copy of this resolution to the
Public Employees' Retirement System.
Adopted this 4th day of August , 1982.
•
Presiding Officer
Attest:
Clerk