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Home My WebLink About945 _� • RESOLUTION NO. 945 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF THE TOWN OF LOS ALTOS HILLS DECLARING INTENTION TO APPROVE AN AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE CITY OF THE TOWN OF LOS ALTOS HILLS. WHEREAS, the Public Employees' Retirement Law permits the participation of public agencies and their employees in the Public 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 of the steps required in the procedure to amend this contract 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 changes: 1. Provides, upon death of a miscellaneous member who has retired for service or disability, for the continuation of post-retirement survivor allowance to certain survivors. 2. Provides service credit up to four years for any continuous military or merchant marine service. 3. Provides a monthly allowance shall be paid to certain survivors of a member who dies before retirement. NO, THEREFORE, BE IT RESOLVED by the City Council of the City of the Town of Los Altos Hills gives, and it does hereby give, notice of intention to approve an amendment to contract between said City Council and the Board of Administration of the Public Employees' Retirement System, a copy of said amendment and a RESOLUTION NO. 945 (Cont'd) : summary of the major provisions of the proposed changes being attached hereto, marked Exhibits "A" and "B", and by this reference made a part hereof. * * * * * I HEREBY CERTIFY THAT the foregoing Resolution was passed and adopted at a Regular Meeting of the City Council of the City of the Town of Los Altos Hills held on the 17th day of March , 1976. ATTEST: City Clerk Resp: #945 �i IMENT.-TO CONTRACT. BETWEEN 'rHr: • • `` +? BOARD OF ADMINISTRATION EXHIBIT A s r PUBLIC EMPLOYEES' RETTR^r,MENT SYSTEM • . 4 AND THE �d J� ; ' ' 'TOWN COUNCIL _ ��an p. 1.i:::1,.:!'•:''''. ,<<� , - `'• OF THE -�,-. - 5,�Yy _ 'OWN'OF -LOS.ALTOS ?n'T�T;S. • ' x The Board, of Administrations Public Employees' Retirement System,..hereinafter . _ --refezTed•-to as Board and the TOWN COUNCIL -of the TOWN OF LOS ALTOS HILLS, herein- after referred to as Public Agency,. having entered into a contract, under date of June 16, 1967, effective July 1, 1967, and as provided by Chapter 170, Statutes of 1971, which provides for participation of Public Agency in said System, Board - . •-.and: Public Agency hereby agree as follows: A. Paragraphs 1 41rough ,11.are hereby stricken from said contract as executed • effective July: 1, '1967, 'and. are hereby replaced by the following para- --graphs numbered 1 through 9 inclusive: . ` • 1. All words and terms used herein which are defined in the Public Employees' Retirement Lawshall have the meaning as defined therein unless otherwise specifically provided. "Normal retirement age" • shall mean age 60 for miscellaneous members. 2. Public Agency shall 1participation in the Public Employebes' Retirement • Systemfrom and after July 1, 1967, making its employees as herein- after provided, members• of said System subject to all provisions of the Public Employees' Retirement Law except such as apply only on ,election ofa 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 electionof contract- ing agencies. . 3. Employees of Public Agency in the following classes and groups shall. become members of said Retirement System except such in each such class and group as are excluded by law or this agreement: a. Employees .other than local safety members (herein referred to - asmiscellaneous members). . . • In addition tothe classes excluded from membership by said Retire- ment Law, the following employees shall not become members of the Retirement System: • LOCAL FIREMEN AND POLICEMEN. PERSONS COMPENSATED ON AN HOIIRLY BASIS.' • ELECTIVE OFFICIALS. -4. The- fraction of final compensation to be provided for miscellaneous membersfor each year of credited prior and current•service- shall be that provided in. Section 21251.13. with all service prior to the termination 'of Social Security coverage subject..to- the reduction - provided by said section. • • Ret. Form 702-1 5. The followingilkovisions of the Public Employe Retirement Law w ich apply upon election of a contrac agency shall apply ` to• the Public Agency and its employees: • -�.•.1_r,S'ection 21263 and 21263.1 (providing upon death of a local :miscellaneous member who retired for service or disability •r. for the continuation of the post-retirement .survivor benefit). • ,-4;.=- 1,',3%.-A). Section 21380-7 (providing for allowances for survivors of members covered under the program upon death before retirement)." c. Section 20930.3 (providing service credit up to four years for any continuous military or merchant marine service for persons who are members because of employment by Public Agency). 6. Public Agency, in accordance with Section 20740, Government Code, shall cease to be an "employer" for purposes. of Chapter 6 of the Public Employees' Retirement Law effective as of the effective date_ -of this amendment to this contract. Accumulated contributions of ' the Public Agency as of the date of such amendment shall be fixed and determined as provided in Section 20759, Government Code and -" such accumulated contributions and contributions hereafter made shall be held by the Board as provided in Section 20759, Government - Code. 7. Public Agency shall contribute to said Retirement System as follows: a. : With respect to miscellaneous members, the public agency shall contribute the following percentages of monthly._salaries earned as miscellaneous members of said System: (1) - r percent until June'.30, •1990 on account of the liabilit3. for prior service benefits. (2) .4-51-percent on account of the liability for current service benefits. (3) ' 1.00 percent on account of the liability for the. 1959 survivors program. • e • • b. 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 the periodical investigation and valuationrequired by law.. c: A reasonable amount as fixed by the Board, payable in one install- ment as the occasions arise, to cover costs of special valuations on accountofemployees of Public Agency., and costs of the periodi- cal investigation and valuation required. by law. ' 8. Contributions required by Public Agency and its employees shall be subject to adjustment by Board on account of amendments to the Public . Employees' Retirement Law, and on account of the experience under the Retirement System, as determined by the periodical investigation and valuationrequired by said Retirement Law. - Bet. Form 702-2 • 9. Contributions required of Public Agency and its employees shall be paid by Public Agency to. the Retirement 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 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. B. This amendment shall be attached to said contract 'and shall be effective • on the • day of - . • • • • Witness our hands this day of. • ___ .• • BOARD OF ADMINISTRATIONTOWN COUNCIL PUBLIC EMPLOYEES' RETIREMENT SYSTEM • OF THE TOWN:OF LOS ALTOS HILLS BY BY - Carl J. Blechinger, Executive Officer Presiding • A ? Attest: . ;