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Home My WebLink About1996-10-22; City Council; Resolution 96-3530 f RESOLUTION NO. 96-353 e RESOLUTION OF INTENTION TO APPROVE AN AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE CITY COUNCIL OF THE CITY OF CARLSBAD WHEREAS, the Public Employees' Retirement Law permits the participation of public agencie and their employees in the Public Employees' Retirement System by the executio of a contract, and sets forth the procedure by which said public agencies may elec to subject themselves and their employees to amendments to said Law; and WHEREAS, one of the steps in the procedures to amend this contract is the adoption by th governing body of the public agency of a resolution giving notice of its intention t approve an amendment to said contract, which resolution shall contain a summar of the change proposed in said contract; and WHEREAS, the following is a statement of the proposed change: To provide 2% @ 55 Full and Modified formula for local miscellaneous members, including an extension of the funding period to the year 2016. NOW, THEREFORE, BE IT RESOLVED that the governing body of the above agency do hereby give notice of intention to approve an amendment to the contract betwe1 said public agency and the Board of Administration of the Public Employe! Retirement System, a copy of said ame "Exhibit" and by this reference made Mayor Title October 22, 1996 Date adopted and approved (Amendment) CON-302 (Rev. 4/96) 0 0 EXHIBIl AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE CITY COUNCIL OF THE CITY OF CARLSBAD The Board of Administration, Public Employees' Retirement System, hereinafter referred to Board, and the governing body of above public agency, hereinafter referred to as Public Agenc having entered into a contract effective January 1, 1956, and witnessed December 23, 1955, and amended effective July 1, 1957, January 1, 1959, March 5, 1959, March 18, 1975, April 1, 195 August 18, 1977, June 21, 1980, January 1, 1981, June 21, 1982, November 22, 1982, June 2 1989, November 16,1990, July 3,1992,November3,1993, June 30,1995 and June 3,1996, whi provides for participationof Public Agency in said System, Board and Public Agency hereby agr as follows: A. Paragraphs 1 through 13 are hereby stricken from said contract as executed effective June 1996, and hereby replaced by the following paragraphs numbered 1 through 13 inclusive: 1. All words and terms used herein which are defined in the Public Employ< Retirement Law shall have the meaning as defined therein unless othem specifically provided. "Normal retirement age'' shall mean age 55 for lo miscellaneousmembers and age 50 for local safety members. Public Agency shall participate in the Public Employees' Retirement System fr and after January 1,1956 making its employees as hereinafter provided, member! said System subject to all provisions of the Public Employees' Retirement L except such as apply only on election of a contracting agency and are not provil for herein and to all amendments to said Law hereafter enacted except those, wk by express provisions thereof, apply only on the election of a contracting agency. Employees of Public Agency in the following classes shall become members of 5 Retirement System except such in each such class as are excluded by law or agreement: a. b. c. 2. 3. Local Fire Fighters (herein referred to as local safety members); Local Police OfFcers (herein referred to as local safety members); Employees other than local safety members (herein referred to as 1( miscellaneous members). p&E DO N(3T $i<-"' d!yL! - - a Vl'd,. L;iI!!d 4. In addition to the classes of employees excluded from membership by sail Retirement Law, the following classes of employees shall not become members o said Retirement System: a. SENIOR INSTRUCTOFULIFEGUARDHIRED AFTER NOVEMBEI 3,1993. 5. This contract shall be a continuation of the contract of the Carlsbad Municip Water District, hereinafter referred to as "Former Agency". The accumulatt contributions, assets and liability for prior and current service under the Formc Agency's contract shall be merged pursuant to Section 20508 of the Governme Code. Such merger occurred February 17,1992. The percentage of final compensation to be provided for local miscellaneo members for each year of credited prior and current service shall be determined accordance with Section 21354 of said Retirement Law, subject to the reductic provided therein for service on and after June 1, 1958, the effective date of Soci Security coverage, and prior to December 3 1, 1980, termination of Social Securil for members whose service has been included in Federal Social Security (2% at i Full and Modified). The percentage of final compensation to be provided for each year of credited pi and current service as a local safety member shall be determined in accordance wi Section 2 1362 of said Retirement Law (2% at age 50 Full). Public Agency elected and elects to be subject to the following optional provision: a. Sections 2 1624,2 1626 and 21 628 (Post-Retirement Survivor Allowance). b. Section 20425 ("Local Police Officer" shall include employees of a polj department who were employed to perform identification or communicati duties on August 4, 1972 and who elected to be local safety members). Section 20965 (Credit for Unused Sick Leave). Section 20042 (One-Year Final Compensation). Section 21427 (Improved Non-Industrial Disability Allowance) for lo miscellaneous members only. Section 2 1024 (Military Service Credit as Public Service), Statutes of 197 Section 2 1573 (Third Level of 1959 Survivor Benefits). Section 21583 (Second Opportunityto Elect 1959 Survivor Benefits). 6. 7. 8. c. d. e. f. g. h. 0 PmSE DO NOT SIGN "EXHI8 1. Section 20434 ("Local Fire Fighter" shall include any officer or employee a fire department employed to perform firefighting, fire prevention, fi training, hazardous materials, emergency medical services, or fire or arsc investigation services as described in Government Code Section 20434). 9. Public Agency, in accordance with Government Code Section 20790, ceased to Accumulated contributions of Public Agency shall be fixed and determined provided in Government Code Section 20834, and accumulated contributic thereafter shall be held by the Board as provided in Government Code Secti 20834. Public Agency shall contribute to said Retirement System the contributic determined by actuarial valuations of prior and future service liability with respl to local miscellaneous members and local safety members of said Retireml System. Public Agency shall also contribute to said Retirement System as follows: a. an "employer" for purposes of Section 20834 effective on August 18, 19: 10. 1 1. Public Agency shall contribute $1.50 per member, per month on account the liability for the 1959 Survivor Benefits provided under Section 2 1573 said Retirement Law. (Subject to annual change.) In addition, all assets s liabilities of Public Agency and its employees shall be pooled in a sin account, based on term insurance rates, for survivors of all lo miscellaneous members and local safety members. A reasonable amount, as fixed by the Board, payable in one installm within 60 days of date of contract to cover the costs of administering s System as it affects the employees of Public Agency, not including the cc of special valuations or of the periodic investigation and valuations requi by law. A reasonable amount, as fixed by the Board, payable in one installmen the occasions arise, to cover the costs of special valuations on accounl employees of Public Agency, and costs of the periodic investigation i valuations required by law. b. c. 12. Contributions required of Public Agency and its employees shall be subjeci adjustment by Board on account of amendments to the Public Employ Retirement Law, and on account of the experience under the Retirement Systen determined by the periodic investigation and valuation required by said Retireu Law. 0 0 13. Contributions required of Public Agency and its employees shall be paid by Publil Agency to the Retirement System within fifteen days after the end of the period tc which said contributions refer or as may be prescribed by Board regulation. If mor1 or less than the correct amount of contributions is paid for any period, prope adjustment shall be made in connection with subsequent remittances, Adjustment on account of errors in contributions required of any employee may be made b direct payments between the employee and the Board. B. This amendment shall be effective on the day of 9 19- BOARD OF ADMINISTRATION CITY COUNCIL PUBLIC EMPLOYEES’ RETIREMENT SYSTEM OF THE CITY OF CARLSBAD BY BY .$ KENNETH W. MARZION, CHIEF PRESIDING OFFICER 8 ACTUARIAL & EMPLOYER SERVICES DIVISION PUBLIC EMPLOYEES’ RETIREMENT SYSTEM & k Witness Date e . Attest: & <& + Clerk%\ AMENDMENT PERS-CON-702A (Rev 8\96)