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Home My Public Portal About1946-07-01 Original Agreement with CalPERS,�- �?10 - STATE EMPLOYEES' RETIREMENT SYSTEM T7F-w . SACRAMENTO 14, CALIFORNIA nqAy 194b 11 izj4G g1 Contra BETWEEN ----------------------------------- —{!` `� �-------------------------------------- NAME OF LEGISLATIVE BODY OF ----------------------------=--- ------------------------------- NAME OF CITY, COUNTY, SCHOOL DISTRIICT, OR OTHER PUBLIC AGENCY AND THE BOARD OF ADMINISTRATION OF THE CALIFORNIA STATE EMPLOYEES' RETIREMENT SYSTEM thisagnment made this------ ==-- - -------day of-------------------- -=`------------------- 194- G--, by and between the Legislative Body of - ----- -- - — -------------------------- Name of City, County, School District, or Other Public Agency hereafter referred to as "Public Agency," and the Board of Administration, California State Employees' Retirement System, hereafter referred to as "Board." WITNESSETH: In consideration of the covenants and agreements hereinafter contained and on the part of both parties to be kept and performed, Public Agency and Board hereby agree as follows: 1. Public Agency is to participate in the State Employees' Retirement System, subject to the provisions of the State Employees' Retirement Law. 2. Public Agency shall participate in said Retirement System, making its employees members of said System, from and after -----+iiU� --J #------------------- 19#------ 3. Employees of Public Agency in the following classes shall become members of said Retirement System in accord- ance with the provisions of said Retirement Law, governing membership in said Retirement System, and subject to the further exclusions from membership in the next following sentence: NUMBER OF EMPLOYEES ELIGIBLE FOR MEMBERSHIP we CLASSES OF EMPLOYEES ON— -�--------, I&--- a. Local Firemen, as defined in the State Employees' Retirement Law . . . -------- _-_----- --------------------------------------- b. Local Policemen, as defined in the State Employees' Retirement Law . .-----------1! ------------------------- --------- --- r c. Employees other than Local Firemen and Local Policemen - - - - ------------ ---------------------------------------- F I266 - f -111) In addition to the employees excluded from membership by said Retirement ,_,a ,7+1e iono •1a �ernployees shall not become members of the Retirement System: �J I' A S0 ADDITIONAL EX(;LUSIGN-B Board and Public Agency agree that, except as provided in paragraph 9, no adjustment shall be made in the amount of contri- butions provided in paragraph 9a on account of prior service, or in the percentage provided in paragraph 9b, because of variations in the numbers of employees who become members of said Retirement System on the effective date hereof, from the number listed above, due to termination of service by such causes as death, resignation or discharge, or the employment of individuals not included in said number. 4. Age--.----- - shall be the normal minimum age for retirement for service, of miscellaneous members employed ( '60" or by public agency, that is, members other than Local Firemen and Local Policemen, and --------------- ("one -sixtieth' if age is 60, or "one -seventieth" if age is 65) shall be the fraction of final compensation, as defined in said Retirement Law, to be provided on the average, for each year of service as a member, by the members' and Public Agency's normal contributions, upon retirement at said minimum age. S. Benefits on account of prior service, that is, service credited hereunder as rendered to Public Agency prior to the effective date of participation, to respective members employed by Public Agency as Local Firemen or Local Policemen, shall be allowed only as a percentage of the average salary specified in said Retirement Law, for each year of such service, and said percentage shall be ---------- ---------------- per cent of the fraction of final compensation, as defined in the State Employees' (such as "50... ..75," "100") Retirement Law, for each year of service rendered after said date, as determined for said respective members under said law, for retirement for service at age S S, or upon qualification for service retirement at a higher age. If a member retires for service before attaining age SS, his prior service pension shall be reduced to that amount which the value of the pension as deferred to age S S will purchase at the actual age of retirement. 6. Prior service benefits to miscellaneous members employed by Public Agency, that is, members other than Local Firemen and Local Policemen, upon retirement for service at the normal minimum age entered in paragraph 4 hereof, shall be allowed only as a percentage of the average salary specified in said Retirement Law, for each year of such service, and said percentage shall be --------- **---- _-------- per cent of ---------- _----------- A _ _ -------------------- (such as "50," "75," "10011) ("one -sixtieth" if minimum age above is 60, or "one -seventieth" if minimum age above is 65) If a member retires for service before attaining the normal minimum age in item 4, his prior service pension shall be reduced to that amount which the value of the pension as deferred to said minimum age will purchase at the actual age of retirement. 7. The provisions of Section --------------------------------------- 212ra _ _ _ ____________ of the State Employees' ("21258b" if minimum age above is 60, or "21258c" if minimum age above is 65) Retirement Law, guaranteeing a minimum retirement allowance under certain conditions _----------- MLL__--_ ("shall" or "shall not") apply to Py em to ees of Public Azencv who become members of -.s;d Retirement tvStem _ - - - ' A "Said se*,t on f � �� ". ��° �#4 S. The provisions of Section 213 67. 5 of the State Employees' Retirement Law, providing a $300 death benefit after retirement ___ _ 5HAL ---XQV _wply to employees of Public .Agency who become members of said Retirement System. ("shall" or "shall not") Public Agency shall contribute to sal,letirement System as follows: a. The sum of $_'_:-___"__= _______ er an nu m, payable in equal monthly or less frequent installments as Board shall require, for a period, of_ --- +__�,___------------- years, on account of the liability for benefits based on service rendered to Public Agency prior to the effective date hereof. b,_--__per cent of tolkl salaries paid by Public Agency each month to its employees who are members of said Retirement System, povided that only salary earned as members of said System shall be included in said total salaries, and the -'employees who are members of said System shall include employees who become members upon the effective date hereof and employees who become members thereafter. c. A reasonable amount per annum, as fixed by Board, payable in equal monthly or less frequent installments, as Board shall require, 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 periodical investigation and valuation required by law, provided that said amount shall be determined on the basis of the number of employees of 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 date of said participation. d. A reasonable amount as fixed by the Board, payable in one installment from time to time as the occasions arise, to cover the costs of special valuations on account of employees of Public Agency, and the costs of the periodical investigation into the experience under said Retirement System, as it affects said employees, and the valuation of the assets and liabilities of said System on account of said employees. Contributions required of Public Agency and its employees shall be subject to adjustment by the Board of Admin- istration on account of amendments to the State Employees' Retirement Law, and on account of experience under the Retirement System, as determined by the periodical investigation, valuation and determination provided for by said Retirement Law. 10. Contributions required of Public Agency under paragraph 9 immediately preceding, and contributions required of Public Agency's employees who are members of said System, shall be paid by Public Agency to the State Employees' Retirement System within thirty days after the end of the month or longer period to which said contributions refer. If more or less than the correct amount of contribution required of Public Agency or its employees is paid for any period, proper adjustment shall be made in connection with subsequent remittances of Public Agency to the Board, to rectify the errors; or such adjustments on account of errors made in contributions required of employees, may be made by direct cash payments between the employee in connection with whom the error was made, and Board. Payments of Public Agency to Board may be made in the form of warrants, bank checks, bank drafts, certified checks, money orders, or cash. `�' 1TNESS OUR HANDS the day and year first above written. ST: — -------/v � C -------------------------------------------- Clerk ST: �: Secretary -------------- City---C o unc i 1-------- Name of Legislative Body - City/of Fullerton Name of Public Agency By--------------' ----------------- -------------------------------------------- Presiding Officer BOARD OF ADMINISTRATION STATE EMPLOYEES' RETIRErNT SYSTEM President, Board of Administration $5913 3-4C 1M SPO