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Home My WebLink About2001-04-24; City Council; Resolution 2001-126RESOLUTION NO. 2001-126 RESOLUTION OF INTENTION TO APPROVE AN AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION CALIFORNIA PUBLIC EMPLOYEES’ RETIREMENT SYSTEM ANDTHE ’ CITY COUNCIL CITY OF CARLSBAD 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 in the procedures to amend this contract is the adoption by the governing 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 change proposed in said contract; and WHEREAS, the following is a statement of the proposed change: To provide Section 21362.2 (3% @ 50 Full formula) for local police members only. NOW, THEREFORE, BE IT RESOLVED that the governing body of the above agency does hereby give notice of intention to approve an amendment to the contract between said public agency and the Board of Administration of the Public Employees’ Retirement System, a copy of said amendment being attached hereto, as an “Exhibit” and by this reference made a part hereof. By: ACTING MAYOR PRO TEM P Titles . April 24, 2001 Date adopted and approved (Amendment) CON-302 (Rev. 4/96) CalPERS EXHIBIT A California Public Employees’ Retirement System AMFNDMENT TO CONTRACT Between the Board of Administration California Public Employees' Retirement System and the City Council City of Carlsbad The Board of Administration, California Public Employees’ Retirement System, hereinafter referred to as Board, and the governing body of the above public agency, hereinafter referred to as Public Agency, having entered into a contract effective January 1, 1956, and witnessed December 23, 1955, and as amended effective July I, 1957, January 1, 1959, March 5, 1959, March 18, 1975, April 1, 1975, August 18, 1977, June 21, 1980, January 1, 1981, June 21, 1982, November 22, 1982, June 26, 1989, November 16, 1990, July 3, 1992, November 3, 1993, June 30, 1995, June 3, 1996, January 7, 1997 and June 14, 1997 which provides for participation of Public Agency in said System, Board and Public Agency hereby agree as follows: A. Paragraphs 1 through 13 are hereby stricken from said contract as executed effective June 14, 1997, and hereby replaced by the following paragraphs numbered 1 through 14 inclusive: 1. All words and terms used herein which are defined in the Public Employees’ Retirement Law shall have the meaning as defined therein unless otherwise specifically provided. “Normal retirement age” shall mean age 55 for local miscellaneous members and age 50 for local safety members. 2. Public Agency shall participate in the Public Employees’ Retirement System from and after January 1, 1956 making its employees as hereinafter provided, members of said System subject to all provisions of the Public Employees’ Retirement Law 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 those, which by express provisions thereof, apply only on the election of a contracting agency. PLEASE DO NOT SIGN "EXHIBIT ONLY" 3. Employees of Public Agency in the following classes shall become members of said Retirement System except such in each such class as are excluded by law or this agreement: a. Local Fire Fighters (herein referred to as local safety members); b. Local Police Officers (herein referred to as local safety members); C. Employees other than local safety members (herein referred to as local miscellaneous members). 4. In addition to the classes of employees excluded from membership by said Retirement Law, the following classes of employees shall not become members of said Retirement System: a. SENIOR INSTRUCTOR/LIFEGUARD HIRED AFTER NOVEMBER 3, 1993. 5. This contract shall be a continuation of the contract of the Carlsbad Municipal Water District, hereinafter referred to as “Former Agency”. The accumulated contributions, assets and liability for prior and current service under the Former Agency’s contract shall be merged pursuant to Section 20508 of the Government Code. Such merger occurred February 17,1992. 6. The percentage of final compensation to be provided for each year of credited prior and current service for local miscellaneous members shall be determined in accordance with Section 21354 of said Retirement Law, subject to the reduction provided therein for service on and after June 1, 1958, the effective date of Social Security coverage, and prior to December 31, 1980, termination of Social Security, for members whose service has been included in Federal Social Security (2% at age 55 Full and Modified). 7. The percentage of final compensation to be provided for each year of credited prior and current service as a local fire member shall be determined in accordance with Section 21362 of said Retirement Law (2% at age 50 Full). 8. The percentage of final compensation to be provided for each year of credited prior and current service as a local police member shall be determined in accordance with Section 21362.2 of said Retirement Law (3% at age 50 Full). The required member contribution rate is 9% of reportable compensation. 9. Public Agency elected and elects to be subject to the following optional provisions: a. Sections 21624, 21626 and 21628 (Post-Retirement Survivor Allowance). - PLEASE DONOT SIGN "^YHlBlT ONLY" 10. 11. 12. b. C. d. e. f. h i. j. Section 20425 (“Local Police Officer” shall include employees of a police department who were employed to perform identification or communication 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 Nonindustrial Disability Allowance) for local miscellaneous members only. Section 21024 (Military Service Credit as Public Service), Statutes of 1976. Section 21573 (Third Level of 1959 Survivor Benefits) for local miscellaneous members and local police members only. Section 21583 (Second Opportunity to Elect 1959 Survivor Benefits). Section 20434 (“Local Fire Fighter” shall include any officer or employee of a fire department employed to perform firefighting, fire prevention, fire training, hazardous materials, emergency medical services, or fire or arson investigation services as described in Government Code Section 20434). Section 21574 (Fourth Level of 1959 Survivor Benefits) for local fire members only. Public Agency, in accordance with Government Code Section 20790, ceased to be an “employer” for purposes of Section 20834 effective on August 18, 1977. Accumulated contributions of Public Agency shall be fixed and determined as provided in Government Code Section 20834, and accumulated contributions thereafter shall be held by the Board as provided in Government Code Section 20834. Public Agency shall contribute to said Retirement System the contributions determined by actuarial valuations of prior and future service liability with respect to local miscellaneous members and local safety members of said Retirement System. Public Agency shall also contribute to said Retirement System as follows: a. Contributions required per covered member on account of the 1959 Survivor Benefits provided under Section 21573 of said Retirement Law. (Subject to annual change.) In addition, all assets and liabilities of Public Agency and its employees shall be pooled in a single account, based on term insurance rates, for survivors of all local miscellaneous members and local police members. b. Contributions required per covered member on account of the 1959 Survivor Benefits provided under Section 21574 of said Retirement Law. (Subject to annual change.) In addition, all assets and liabilities of Public Agency and its employees shall be pooled in a single account, based on term insurance rates, for survivors of all local fire members. C. A reasonable amount, as fixed by the Board, payable in one installment within 60 days of date of contract 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 periodic investigation and valuations required by law. d. A reasonable amount, as fixed by the Board, payable in one installment as the occasions arise, to cover the costs of special valuations on account of employees of Public Agency, and costs of the periodic investigation and valuations required by law. 13. Contributions required of 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 periodic investigation and valuation required by said Retirement Law. 14. Contributions required of Public Agency and its employees shall be paid. by Public Agency to the Retirement System within fifteen days after the end of the period to which said contributions refer or as may be prescribed by Board regulation. If more or less than the rrect amount of contributions is paid for any period, proper adjustment s -% e made in connection with subsequent remittances. Adjustments on & B nt of errors in contributions required of any employee may be made by . Board. * ct payments between the employee and the A$- B. This amendment shall be e ‘G e@ive on the day of BOARD OF ADMINISTRATI 9’ CITY COUNCIL PUBLIC EMPLOYEES’ RE 8 MENT SYSTEM CITY OF CARLSBA 00 B \+ 6 BY ,&I$ BY *@ KENNETH W. FFICER ACTUARIAL & YER SERVICES DIVISION PUBLIC EMPLOYEES’ RETIREMENT SYSTEM Witness Date Attest: Clerk AMENDMENT PERS-CONJOZA (Rev. 8\96)