HomeMy WebLinkAbout1958-01-21; City Council; Resolution 334m
RESOLUTION OF IMTENTION No. 334
TO APPROVE AX AMENDMENT TO THE CONTRACT
B~EN THE BOARD OF ADMINIaMION OF THE
STA!I'E EMPLOYEES' RE TIRES^ SYSI'EM
mTHE
CITY COUNCIL
OF THE
CITY OF CARLSBAD
WKEREAS, the State Employees' Retirement Law permits the participation of public agencies
and their employees in the State Esnployees' 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, Section 21'702 of the Government Code provides that a contract between a public
agency and the Board of Administration may be amended to modify benefits and ad-
just contributions if the California State Social Security Agreement of March 9,
1951, is modified to include employees of the public agency in positions covered by the System; and
V€IEBEAS, Federal and State law permit the present members (other than policemen and firemen)
of a retirement system to choose individually whether they wish to be covered by
Federal Old-Age, Survivors, and Disability Insurance; and
WHEREAS, it is the intention of this governing body to allow employees of this agencyto
exercise such choice md, further, to provide an appropriately modified program
of retirement system benefits and contributions for such employees as elect to be
covered by Federal Old-Age, Survivors, and Disability Insurance; and
WHEREAS, it is required that an election be held among members of the system before members may be given such choice; and
bEEEUW3, one step required in procedures for contract amendment is the adoption by the
governing body of a public agency of a Resolution of Intention giving notice of
intention to amend its contract with the bard of Administration, which Resolution
shall contain a summary of the major changes to be made in the retirement plan;
and
VHEBEAS, the folloving is a summary of the major changes to be accomplished by said amendment :
A. Miscellaneous rars of the retirement system
groups as follows:
be divided into two
Group A shall consist of those members who, on division date, do not elect
to be covered by Federal Old-Age, flrrvivors, and Disability Insurance;
Group B shall consist of:
1. All members who choose to be covered by Federal Old-Age,
Survivors, and Disability Insurance;
2. All employees who are not miscellaneous members on the date
the retirement system is divided, but who become miscellaneous
members thereafter;
3. All Group A members who terminate and re-enter employment as miscellaneous members; and
4. All future employees who become miscellaneous members.
B. Benefits for {local safety and) miscellaneous Group A members shall not be changed by this amendment nor shall there be any change in benefits
of miscellaneous Group €3 members on account of service prior to the
effectivity of membership in the Group B classification.
C. Benefits earned and rates of contribution on account of service as
a Group 3 member after the effective date of the amendment shall be
changed as follows:
1. The retirement allowance per year of service for a
miscellaneous Group B member upon retirement at age 60 shall be 1/90 of "final compensationn up to and
including $350.00 per month and 1/60 of such "final
compensation" as is in excess of $350.00 per month.
2. Any miscellaneous Group B member retiring for service
before age 65 who is fully insured under Federal Old-
Age, Survivors, and Disability Insurance may elect to have the actuarial equivalent of his modified service retirement allowance paid in two parts as follows:
a. Rtemporary annuity which shall not exceed the primary Social Security benefit which it is anticipated the member will be entitled to receive
at age 65, plus
b. A life income such as may be provided by the re-
maining actuarial value of his service retirement
allowance.
3. The contributions to be made by a miscellaneous Group B
member with respect to compensation for such service equal to or less than $350.00 per month (or its
equivalent for other than monthly pay periods) shall
be two-thirds of the rate which would otherwise apply to such members.
4. Benefits payable for death and disability shall not be
affected or modified by modifications in the retirement
allowance payable upon retirement for service.
NOW, THEREFORE, BE IT RESOLVED, That the City Council of the City of Carlsbad gives,
and it does hereby give notice of intention to amend its contract between
said City Council and the Board of Administration of the State Employees' Retirement System to provide for a modification of benefits and adjustment of rates, a copy of said amendment being attached hereto marked "Exhibit A,"
and by this reference made a part hereof; and be it further
RESOLVED, That written explanatory statements be furnished to each employee who is
or may become a retirement system member affected by these changes, which
statements shall contain a summary of the proposed changes and a notice
that an election on the proposed changes and on the question whether
members shall be permitted to choose individually whether to be covered
under O.A.S.D.I., will be held among eligible employees; and be it further
RESOLVED, That such election is hereby authorized to be conducted not less than
fifteen nor more than thirty days after issuance of such explanatory
statements, and that RALPH SCHOLINK is hereby designated and appointed to conduct such election in accordance with
law, regulations, and this resolution, including the issuance of proper
explanatory statements and notices to eligible employees.
CITY COUNCIL OF THE
CITY OF CARLSBAD
T Y 1958 ~~o&~~ 'and Approver Mavor of the City of Carlsbad (Title)
CEB’TPICATION 03‘ GOVERTJIN2 BODY S ACTION
1_1
I hereby certify that the foregoing is a true and correct
copy of a Eesolution of Intention with attachment thereto adopted
by the City Council of the City of Carlsbad
(Governing 3ody) (Kame of Public Agency)
on January 21, > 19 58 -’
02 the (Kinutes)(- ) of the
City Council . (mverning SOC!~)