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HomeMy WebLinkAbout1982-11-17; Municipal Water District; Resolution 431RESOLUTION NO. 431 RESOLUTION OF THE BOARD OF DIRECTORS OF COSTA REAL MUNICIPAL WATER DISTRICT OF INTENTION TO APPROVE AN AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE BOARD OF DIRECTORS OF THE COSTA REAL MUNICIPAL WATER DISTRICT 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 I WHEREAS, one of the steps 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 change proposed in said contract; and WHEREAS, the following is a statement of the proposed change: To provide 2% @ 60 Full formula (due to Social Security termination), Sections 21380-87 (1959 Survivors Program) including Section 21382.2 (Increased 1959 Survivors benefits). -1- NOW, THEREFORE, THE BOARD OF DIRECTORS OF COSTA REAL MUNI- CIPAL WATER DISTRICT DOES HEREBY RESOLVE AND ORDER AS FOLLOWS: 7 1. That the Board of Directors of COSTA REAL MUNICIPAL WATER DISTRICT gives, and it does hereby give notice of intention -~ to approve an amendment to the contract between COSTA REAL MUNICIPAL WATER DISTRICT, formerly known as CARLSBAD MUNICIPAL WATER DISTRICT, and the Board of Administration of the Public Employees' Retirement System, a copy of said amendment being attached hereto, as an "Exhi- bit" and by this reference made a part hereof. 2. That the President and Secretary of the Board of Di- rectors of COSTA REAL MUNICIPAL WATER DISTRICT are authorized to execute any necessary documents for and on behalf of COSTA REAL MU- NICIPAL WATER DISTRICT to amend said contract. 7 ADOPTED, SIGNED AND APPROVED this 17th day of November, 1982. President of the Board of Directors of COSTA REAL MUNICIPAL WATER DISTRICT ATTEST : MAERKLE - FRED Secretary of pf$ Board of Directors of COSTA REAL U ICIPAL WATER DISTRICT -2- STATE OF CALIFORNIA ) COUNTY OF SAN DIEGO ) ss. P I, FRED W. MAERKLE, Secretary of the COSTA REAL MUNICIPAL I WATER DISTRICT and of the Board of Directors thereof, do hereby certify that the foregoing Resolution was duly adopted by the Board of Directors of said District at a regular meeting of the Board held on the l7th day of November, 1982, and that it was adopted by the fol- lowing vote: AYES: Directors: ALMACK, BONAS, KELLY, MacLEOD and MAERKLE NOES : Directors: None ABSENT: Directors: None P I Secretary of/~e Board of Directors Of COSTA REAL MUNICIPAL WATER DISTRICT -3- h I' , - ANENDPENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE BOARD OF DIRECTORS OF THE COSTA REAL MUNICIPAL WATER DISTRICT The Board of Administration, Public Employees' Retirement System, here- inafter referred to as Board, and the governing body of above public agency, hereinafter referred to as Public Agency, having entered into a contract under date of February 5, 1963, effective provides for partici- c A pation of Public Agency in said Agency hereby agree as follows: A. Paragraphs 1 through 12 are hereby said contract as executed effective March 1, 1963, and hereby the following paragraphs numbered 1 through 9 inclusive: 1. All words and terms in the Public Employees' Retirement Law &l have the meaning as defined therein unless otherwise specifi y provided. "Normal retirement age" shall mean age 60 for locsl m&ellaneous members. 2. Public Agency shall@%icipate in the Public Employees' Retirement System from and a* March 1, 1963 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 of a contracting agency and are not provided for herein and to all amendments to said Law hereafter enacted except such as by express provisions thereof apply only on the election of contracting agencies. _- 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. Bnployees other than local safety members (herein referred to as locsl miscellaneous memberp). 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: NO ADDITIONAL EXCLUSIONS 4. ?he fraction of final compensation to be provided for each yrsr of credited prior and current service as a local miscellaneous member shall be that provided in Ssction 21251.13 of said Retirement Law wl+h 311 service prior to Social Security terminstion December J1, 1922, subject' to the reduction provided by said section. - 5. The following additional provisions of the Public Employees' Retire- ment Law which apply only upon election of a contracting agency shall - apply to the Public Agency and its employees: a. Sections 21780-21387 (1959 Survivors Program), including Section 21 382.2 (Increased 1959 Survivors Benefits). 6. Public Agency, in accordance with Section 20740, Government Code, shall cease to be Public Employees this amendment to contract. of Public Agency as of the date of such and determined as provided in Section 20759, contributions and held by the accumulated Board as provided in Section 20759, 7. Public Agency shall Retirement System as follows: a. With respect to the agency shall contri- bute the salaries earned as (1 ) (3.054 percent until June 30, 2000 on account of the liability for prior service benefits. (2) 9.796 percent on account of the liability for current service benefits. (3) 0.400 percent on account of the liability for the 1959 Survivor Program. b. 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. c. 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. 9.- Contributtons required of Public Agency and its employees shali be subject to sdjustment by Board on account of amendments to the Bublic Employehs' Retirement Law, and on account of the experience under the Retirement System as determined by the periodic investigation ani valuation required by said Retirement Law. - - 9. Contributions required of Public Agency and its employees shsll be paid by Public Agency to the Retirement System within thirty days after the end of the perio-d to which said contributions refer or 8s may be prescribed by Board regulation. 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 acy employee may be made by direct cash payments between the employee and the 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 9 19-. Witness our hands the day of t '9-. BOARD OF ADMINISTRATION BOARD DIRECTORS PUBL~C EIFLOYEES RETIREMENT SYSTEM ~- Approved as to form: Attest : Clerk v PFRS' CON-702