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HomeMy WebLinkAbout1988-10-05; Municipal Water District; Resolution 593RESOLUTION NO. 593 OF THE 1 BOARD OF DIRECTORS (Name of Governing Body) AUTHORIZING AN AMENDMENT TO THE CONTRACT OF THE COSTA REAL MUNICIPAL WATER DISTRICT (Name of Public Agency) AND THE BOARD OF ADMINISTRATION OF THE PUBLIC ~MPLOYEES' RETIREMENT S HIEREAS, the BOARD OF ADMINISTRATION of the PUBLIC EMPLOYEES' RETIREMENT (Name of Governing Body) Name of Public Agency) and the Board of Directors the Costa Real Municipal .. Water District en t into a Contract effective on March 1, 9 191 providing for the participation of said -Real MunlcIDa 1 Watt (Name of Public Age .. in the Public Employees' Retirement System; and WHEREAS, it is now desirable to take advantage of certain benefits provid under said Retirement System and not.included in said contract; I NOW, THEREFORE, BE IT RESOLVED, that said Costa Real Municipal Water D-is. (Name of Governing Body) authorized, and it does hereby authorize, an amendment to said Contract, 2 copy of said amendment being attached hereto marked "Exhibit A", and by such reference made a part hereof as though herein set out in full; and NOW, THEREFORE, BE IT FURTHER RESOLVED, that the presiding officer of sai (Name of Governing Body) COSTA REAL MUNICIPAL WATER DISTRICT be, and the presiding officer is hereby authorized, empowered an directed to execute said amendment for and on behalf of said COSTA REAL MUNICIPAL WATER DISTRICT (Name of Public Agency) Adopted this fifth (5th) day of " October * 19 I Attest: U FCSD-CON- 13 (Amendment ) C0318 (Rev. 12/86) - STATE OF CALIFORNIA 1 1 ss COUNTY OF SAN DIEGO 1 I I, JOHN P. HENLEY, Secretary of COSTA REAL MUNI( WATER DISTRICT and of the Board of Directors thereof, do he certify that the foregoing Resolution was duly adopted bl Board of Directors of said District at a meeting of the E held on the 5th day of October, 1988, and that it was adoptc the following vote: AYES : Directors: Bonas, Woodward, Henley and Mac NOES : Directors: None I ABSENT : Directors: Haasl ABSTAIN: Directors: None and the Board of Directors thereof \ 1 EXHIBIT "A' I 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 The Board of Administration, Public Employees' Retirement System, hereinaf referred to as Board, and the governing body of above public agency, hereinafter referred to as Public Agency, having entered into a contract effective March 1, 1.963, and witnessed February 5, 1963, and as amended effective January 13, 1983, which provides for participation of Public Age in said System, Board and Public Agency hereby agree as follows: A. Paragraphs 1 through 9 are hereby stricken from said contract as execu effective January 13., 1983, and hereby replaced by the following parag numbered 1 through 10 inclusive: , . 1. All words and terms used herein which are defined in the Public Employees' Retirement Law shall have the meaning as defined there - unless otherwise specifically provided. "Normal retirement age" I shall mean age 60 for local miscellaneous members. 2. Public Agency shall participate in the Public Employees' Retireme System from and after March 1, 1963 making its employees as hereinafter provided, members of said System subject to all provi of the Public Employees' Retirement Law except such as apply only election of a contracting agency and are not provided for herein to all amendments to said Law hereafter enacted except those, whi express provisions thereof, apply only on the election of a contr ing agency. 3. Employees of Public Agency in the following classes shall become members of said Retirement System except such in each such class are excluded by law or this agreement: a. Employees other than local safety members (herein referred tl local miscellaneous members). 4. In addition to the classes of employees excluded from membership said Retirement Law, the following classes of employees shall not become members of said Retirement System: a. ALL SAFETY EMPLOYEES. I I 5. The fraction of final compensation to be provided for each year 01 credited prior and current service as a local miscellaneous membe~ shall be determined in accordance with Section 21251.13 of said Retirement Law with all service prior to Federal Social Security termination December 31, 1982, subject to the reduction provided I said section (2% at age 60 Full and Modified). 6- The following additional provisions of the Public Employees' Retirement Law, which apply only upon election of a contracting agency, shall apply to the Public Agency and its employees: a. Sections 21380 - 21387 (1959 Survivor Benefits) including Sec :21382.2 (Increased 1959 Survivor Benefits) and Section 21382. (Third Level of 1959 Survivor Benefits). b. Section 20024.2 (One-Year Final Compensation). 7. Public Agency, in accordance with Government Code Section 20740, ceased to be an "employer" for purposes of Section 20759 effective January 13, 1983. Accumulated contributions of Public Agency shal fixed and determi.ned as provided in Government Code Section 20759, accumulated contributions thereafter shall be held by the Board as provided in Government Code Section 20759. 8. Public Agency shall contribute to said Retiiement System as follow I a. With respect to local miscellaneous members, the agency shall contribute the following percentages of salaries earned as members of said Retirement System: (1) 8.514 percent until June 30, 2000 on account of the liability €or current service benefits. (Subject to ann change. ) b. A reasonable amount, as fixed by the Board, payable in one in stallment within 60 days of date of contract to cover the cos' of administering said System as it affects the employees of Public Agency, not including the costs of special valuations I of the periodic investigation and valuations required by law. c. A reasonable amount, as fixed by the Boaid, payable in one in stallment as the occasions arise, to cover the costs of speci valuations on account of employees of Public Agency, and cost . the periodic investigation and valuations required by law. 9. Contributions required of Public Agency and its employees shall be subject to adjustment by Board on account of amendments to the Pub Employees' Retirement Law, and on account of the experience under 1 Retirement System as determined by the periodic investigation and I valuation required by said Retirement Law. I 10. Contributions required of Public Agency and its employees shall bc paid by Public Agency to the Retirement System within thirty days after the end of the period to which said contributions .refer or i 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 remittance: Adjustments on account of errors in contributions required of any Board. . employee may be made by direct payments between the employee and t B. This amendment shall be effective on the tenth (10th) day October ,1988. BOARD OF ADMINISTRATION BOARD OF DIRECTORS . PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF THE COSTA REAL MUNICIPAL WATER DISTRICT BY ASSISTANT EXECUTIVE OFFICER October 5, 1988 I Witness Date Attest: J& /L ,LJA Clerk PERS-CON-702 (AMENDMENT) ; (Rev. 6/88) 1 .I