HomeMy WebLinkAbout1955-11-22; City Council; Resolution 192J, RESOLUTION NO. 192
2 RESOLUTION OF INTENTION TO APPROVE
3 TION IN STATE EMPLOYEES' RETIREMENT
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CONTRACT PROVIDING FOR PARTICIPA-
SYSTEM.
5 WHEREAS, the State Employees' Retirement Law permits the partici-
6 pation of Public Agencies in the State Employees' Retire-
7 ment System, making their employees members of said
8 System, and sets forthe procedure by which participation
9 may be accomplished; and
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11 tive body of the Public Agency of a resolution giving
3.2 notice of intention to approve a contract between said
13 Governing Body and the Board of Administration of said
14 Retirement System, providing for said participation,
15 which said resolution shall contain a summary of the
WHEREAS, one step in said procedure is the adoption by the legisla-
16 major provisions of the proposed Retirement System; and
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18 the proposed Retirement System:
illEREAS, the following is a summary of the major provisions of
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1. The system is administered by a board of eight members,
composed of three members of the System, an official
of a bank, an official of a life insurance company,
the Director of Finance, a member of the State
Personnel Board, and an official of the University
of California.
2. Retirement for service is optional upon attainment
of age 55 by Local Safety Members (local fireman
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29 election of the Public Agency, by other employees,
30 and completion of twenty years of service for the
31 Public Agency, and is compulsory at age 65 for
32 Local Safety Members, and at age 70 for other
and local policemen) and age 60 or age 55 at the
employees,
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3. The monthly retirement allowance payable upon
retirement for service is dependent upon such factors
as age, sex, salary, and years of service, For Local
Safety Members retiring at age 55 in paragraph 2, or
at a higher age with 20 years of service, the monthly
allowance is approximately one-half the average
monthly salary (salary over $416.66 being excluded
unless Agency elects otherwise) during the five years
immediately preceding retirement, unless the Public
Agency elects to provide prior service benefits at
less than the full amount. For other Agency employees,
the monthly allowance, upon retirement at age 65 if
the Agency elects 60 as the lowest optional service
retirement age, is 1/70th of the average monthly
salary during the five years immediately preceding
retirement, for each year of service after the
effective date of participation, plus approximately
1/70th, or less as may be provided in said contract
by the Public Agency for its employees, of "Final
Compensation" or the average monthly salary during
the three years immediately preceding the effective
date of participation, for each year of service prior
to that date, Upon retirement at age 60, if the
Agency elects 55 as the lowest optional service
retirement age, the fraction is approximately 1/60th
instead of 1/70th, or exactly 1/60th, if the guar-
anteed fraction also is elected. The fractions are
reduced for both current and prior service if retire-
ment is below 60, and increased only for current
service, if retirement is above 60.
4, A minimum service retirement allowance of $40 per
month is guaranteed upon retirement at age 70 with
credit for service rendered prior to said effective
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date, if the Public Agency elects age 60 as the
lowest optional service retirement age, or a minum
allowance of $60 per month upon retirement at age
65 or over with twenty years of service, or upon
retirement at age 70 with credit for prior service,
if the Public Agency elects age 55 as the lowest
optional service retirement age.
5, Retirement for disability, except in the case of
Local Safety Members disabled from injury arising
out of and in the course of employment, is permitted
only after ten years of service and upon proof of
incapacity for the performance of duty,
10 below. )
(See item
6, The monthly retirement allowance payable upon dis-
ability retirement, described in preceding item 5,
is dependent upon such factors as age, salary and
years of service, but generally is equal to 90% of
1/70th, or 1/60th as the case may be, of the average
monthly salary during the five years immediately
preceding retirement, for each year of service, with
a guarantee of 25% of said salary, subject to certain
restrictions and modifications,
7. Disability retirement of Local Safety Members, in the
event of disability arising out of and in the course
of employment, is permitted regardless of age and
service, the monthly retirement allowance being one-
half the highest average monthly salary earnable
during any five years of membership,
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8, The benefit payable at death before retirement
except in the case of Local Safety Members dying
from injury arising out of and in the course of
employment, consists of the contributions of the
member plus interest, and plus 1/12th of the member's
annual salary during the year immediately preceding
death, for each year, not exceeding six years, of
service as a member of the system,
retirement, and at the election of the Public Agency,
a benefit of $400 is payable,
Upon death after
9. The monthly allowance payable to the widow and
children at the death of Local Safety Members,
arising out of and in the course of employment,
is one-half the average monthly salary during the
five years immediately preceding death.
10, The benefit upon separation from service by other
cause than death or retirement, is the refund of
the member's contributions, with interest,
having accumulated contributions of at least $500
upon resignation or discharge, may elect irrevocably,
within ninety days, to leave contributions in the
Retirement Fund, and then upon reaching the lowest
optional service retirement age or becoming disabled,
to be entitled to receive such retirement allowance
as will be provided by their and the Agency's con-
tributions and their credited service, regardless
Members
of service rendered.
11, Contributions required of Local Safety Members,
without credit for prior service, depend upon salary
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and upon age of entry into the Retirement System,
the contributions per $100 of salary varying from
$7.63 at entry age 21, to $14.35 at entry age 35.
Contributions of Local Safety Members having credit
for prior service depend on salary, entry age, and
amount of prior service, the amount of contributions
per $100 being $16.33 for example, at entry age 54,
with 19 years of prior service.
12. For other Agency employees, the contributions depend
upon salary, sex and age of entry into the Retirement
System, the contributions per $100 of salary varying
from $4.62 at age 20, to $7.99 at age 64, for men,
and from $5.36 at age 20, to $9.45 at age 64, for
women, all based on the Public Agency's election of
age 60 as the lowest optional service retirement age.
If the Public Agency elects age 55 as the lowest
optional service retirement age, the contributions
per $100 of salary vary from $7.36 at age 20, to
$10.88 at age 59, for men, and from $8.35 at age 20,
to $12.81 at age 59, for women.
13. The Agency is required to contribute the balance of
the funds necessary to meet the cost of the benefits
provided under the retirement system for the Agency
employees. The Agency is also required to pay its
proportionate share of the administrative costs of
the system.
14, Ability of the Retirement System to pay benefits is
safeguarded by a provision authorizing the Board of
Administration to revise contributions of both
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employees and the Agency, in the light of experience
4 NOW, TER'EFORE, BE IT RESOLED, that the City Council of the City
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of Carlsbad give, and it does hereby give notice of in-
tention to approve a contract between said City of Carlsbad
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and the Board of Administration of the State Employees'
Retirement System, providing for participation of said
City of Carlsbad in said Retirement System, a copy of
said contract being attached hereto, marked "Exhibit A",
and by reference made a part hereof.
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13 PASSED, APPROVED AND ADOPTED this 22nd day of November, 1955 by
14 the following vote:
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AYES: Councilmen Helton, Castorena, Robinson,
NOES: None, Sutton; Mayor Ede.
17 ABSENT: Nonep
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22 ATTEST:
of the City of Carlsbad, Carlsbad, California
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CALIFORNIA STATE EMPLOYEES' REmMEN'II: SYSTEM .
7' hereafter nPd to as "Public Agency,'' and rhe Board of AdminisFtion, c;diforni? State Employes' R-xt System,
hereafter refd to ~~g%~ard"
WmzssETH: -.
In consideration of the covenants and agreaneats herebfter c~rn&ed and' OB the pan of both pudts to kept
and performed, Public Agenv and Board hw% agree a~ fohws:
1. Public Agency io to partkipate the State EmpIoyd system, subject to the pm6Gom of the Sate
. Employed Retirement Law. ..
2. Public Agency shall participate in said Retir-c System, &g its -10~~ membm of said Systao, fmp
and after ---...Zam-,L, 19561 -1
.. 3. Employees of Public Agency id the following cltsses &aU become memben of said Retirement System in 5c~&
ancc with die provisioas of said Retirement Law, govemiog membffship in said Retirement SFtem, . .. 2nd subject to the
exclusions from membership in the n$xt following sentme: ,
~ NUMBER OF EMPLOYEES ELIGIBLE FOR bLEsc8ERsnLP . CLASSES OF ESPLOYEES
_. 2. e. Local Firemen, as defined in the Scare Emp!oyeer' Rcriremenc Law e .
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4 lrC0 IO. Thc provis' 67.hf die Stztc Employees' R, providing 3 $Wcath benefit afccr
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11. The provisions of Scction 20025 of the State EmpIoyees' Retkmenr Law, providing for the portion of corn-
pensation which shall be included in compuritions under the Retirement L,aw __.-__.__ __. .__- su&--- ._______________ ~ _____ 1 _____-
apply ro employes of Public Agency who Lecorne members of said Retircmcnr Sys:eni.
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a ("shall" or "rhJl nm")
12. PfibIic Agency sh& contribute to said Retirement System as foI!ows: 30-W
a. The sum of $ 22*u *per annum, payable in equal monthly or frcquent inst&ents as
shall require, for a period of-L?..-.years, on acICCOUnt of the liability for benefits based on scnicc
rendered so Public Agency prior to the etfective date hereof.
b -~J9Z,--per cent of total s31aries paid bp Public A,w~y each month to its employee^ who 3~1: memben of said Retiremenr System, providcd that only salary earned as members of said System shd! 5- included in said total salaries, and the employees who 3rc members of ssid-System shall include en~ployccs who Lccomc
members upon the effective datc hcrcof and employees who become nembers thcrcaftcr.
-tau of special vduttions or of the periodical iavestig3tion and valuation quircd by jaw, provided that said amount shall be determined on the basis of the number of cmp!oyees uf Public Agency
who are members on July 1st of the respective fiscal years, or with respect to- the first year of participation,
on the effective dare of said participation.
d. A reasonable amount as fixed by the Board, payable in one installmest from time to time as the occasions
arkie, to cover the costs of special V3htkS on account of employees of Public Agency, and thc costs of the periodical investigation into &e experience under said Retirement Sys~em, BS it affects said employees, 3nd
the vaiua tion of the assets and Iisbilieies of said System on account of said employees.
Contributions required of Public Agency nnd its employees shall be subject to adjustment by t5c Eozrd of Admin-
isrtation on ;iccount of amendments to thc State Employees' Retirmtnt Law, and on account of experience under the Retirement System, 3s descrmined by the ptliodicd investigation, valuation and detenminathn provided for r;Y said Retirement
Law.
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e. A rcasonable amount per ~MW, as 5xcd by Board,
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13. Contributions required oi PcbKc Agency under pr2,gaph 12 immediately preceding, 3nd concdbutlons requimi
of Public A3acy's employees who are members of said System, shall be paid by Public Agency to t5e State Employ& Retiremmt System within thirty days after the end of the month or longer period to ~bkh sGd contributions refer. If more
or less than the corrccr amount of contribution sequired of Public Agency OK its employees is paid for any period, proper adiuszment shall be made in connection with subxqwnt remittaxes of Public Agency to the Ecard, to rectify the crrors;
or such adjustments on account of errors made in contributions requitcd of employees, m3y made by direct czsh paymenis
between the emp!oyec in connection with whom the error was made, and Bawd. Payments of Public Agency io Boird mq be
m2de in &e form of warranrs, bank checks, bank drafts, certified checks, money orders, or cash.
fkard and Public Agency igrce &3t, except as provided in pangraph 12, no adjutment shall be made in &e amount of contri- hrions providcd in paragraph 12s on accoune of prior sehce, or in the percattg? provided in paragraph 12b, bec3use of siriations in thc numbers of employees who become members of said Retirement System on &e effective &te hereof, from
t!,c number listcd abovc, due to termination of service by such caw zs kth, resignation or discharge, or the employment .of individuals not included in said number-
* .. * - 4. Age ________________. shall be the nod age for retirement fot service. of miscellaneous members
cmployed by public agency, that is, members other Jun Local Fi, Loul Policemen and County Peace OBcen, ad
. ___I-- ___---.- -- shall be the fraction of final compensation, as defined in said Retirunen; Iaw, to
be provided on &e average, for each yeu of service as a member, by the mernbed and Public Agacy's nomd.conttiSutiQns,
upon retirement 3t said minimum agc,
("60'. or "6)") --
C.~ixdda" if a~ is 60, or "one-rrontirrh" if is 63) -
5. Benefits un account of prior mice, that is, service credited hereunder as rendered to Public Agency prior to the efiectiye date of participation, to respective members employed by Public Agency 3s Local Firemen, Local Policemen or County
Pcacc Ofiiccrs shall be allowed only as a percentage of the average sdary specified in said Retirement Law, for cad pr of
such service, and said percentage shall be-l@----per cent of the fraction of final CompUUation, as defined in
&e Stjte E~~I~~~~ Retimat Law, for eash year of service rendered after said date, as dctennined for wid repectivc
. mmbm under said law, for retirement for sewire at age SS, or upon qualification for service retirement at a higher age. If 3 member retires for service before attaining age SS, his prior service pension shall be reduced to tht amount which the
.~.alue of thii pension as deferred to age 15 will purchase at the actual age of retirement.
(such .I "SO." -7%- "100")
6. Prior service benefits to miscellaaeous members employed by Public APT, that is, memben other than J..wzd r-iiemen, Local Policemen or Countg Peace CScers, upon rcrirement for service at the nod mini" age entered in
pcigraph 4 hereof, shall be allowed only as a percentage of the aver3ge.A~ specified in Section __ . __ ____. . of said (tCSlSor 21255)
Xetircment Law, for each yesr of such swice, and said percentage SU be.----.- -- . _-. ---_--_per Cent Of (aush u "%." "75.'. '"P)
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before attsining the normal minimum zge entered in p:lm~aph 4 hereof, his prior semice pension sh3E be reJuce2 to t!*=i
3m0u~t which rhe value of the pension 3s deferred to s&I +~m age will purchase at the actus! age of retirement.
_._.__ L--: _____-__ __ ---------- --------.--------.---. If a fi.ember retires for service
~oae-rixticth" or"one-sermzi~rb" if minimum am abore it 60 or 61 and auti- is ?OSJS: othcrwiv "&e prcmtap hrmiad under uid wctiou")
7. If the frzction stated in the preceding pmgnph is one-sixde& the pm660n~ of Section 2I2SI.l of the State
Employees' Retirmmt Law, providing far 3 paranteed percentage of find compcwth for each yw of currcnr service
3s 3 member, __ __ ._._ ._._ _____ __________ ______apply to employe of Public Agency who become members of said Retirement Sy;tum.
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("slutl" or "rh$ not-') ,..
J 8. The provisic-ns of Section 21252.4 of the State Employees' Retirement Law, prosding for 3 guaranteed per-.
centsge of final compensation for each year of current service as a mem~r,----~-..------.--------~ appiy. to employees of
Public Agency who become members of the Retirement System as Local Firercen, Local Policemen or County Pe3ce OGccn.
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SFFaLL
("rbdl" or "shdl mot)
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9. The provisions of Section ______ LUZ$&-- _.___I___._ .-of the.State Employes' Retirement Law, guarxtt&x;nS a
S%IL minimum rctirsment ~llowt?cc under certain conditions --.,-.-.---.----..pply to employm of Public Agcncy who
become mambers of said Retirement System.
(.'212Wb" if n" &T* b a, Or "tl23lc" if minimum a9 Jon h 6s)
("rbdl" or "s!adI IY)I") .
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