HomeMy Public PortalAboutResolution - 73-32- 19731114 - Authorize participation4
RESOLUTION 73-32.
I�1
RESOLUTION AUTHORIZING A CONTRACT PROVIDING FOR THE PARTICIPATION OF
THE PUBLIC AGENCY IN THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM,
MAKING ITS EMPLOYEES MEMBERS OF SAID SYSTEM
WHEREAS, the Public Employees' Retirement Law provides for the participation of
Public Agency in the Public Employees' Retirement System, making its
employees members of said system, and
WHEREAS, the
BOARD OF DIRECTORS of
Name of Governing Body
MIDPENINSULA REGIONAL PARK DISTRICT
(Name of Public Agency)
on October 1.0, ). 73, adopted a Resolution giving notice of intention
to approve a contract providing for such participation, and
WHEREAS, the employees of said Agency, whose memberships in said Retirement System
are contemplated, have approved said participation, by majority vote,
NOW, THEREFORE, BE IT RESOLVED, that said Board of Directors
(Name of Governing Body)
authorizes, and it does hereby authorize a contract between said
Board of Directors and the Board of Administration,
(Name of Governing Body)
Public Employees' Retirement System, a copy of said contract being
attached hereto marked Exhibit "A" and by such reference made a part here-
of as -though herein set out in full, and
BE IT FURTHER RESOLVED, that the presiding officer of said Board of Directors
(Name of
be, and he is hereby authorized, empowered
Governing Body
and directed to execute said contract for and on behalf of Midpeninsula
(Name of
Regional Park District
Public Agency
Adopted this
Attest:
14th
day of November
1973 .
ir24642I:ft :ED—
Presiding Officer
Attest:
Q
0
S
Clerk Secretary
PERS-ACT-13 (Contract) 11/71
EXHIBIT A
CONTRACT .
BETWEEN TUE
BOARD OF ADMINISTRATION
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
AND THE
BOARD OF DIRECTORS
OF THE
MIDPENINSULA REGIONAL PARK DISTRICT
In 'consideration of the covenants and agreement hereafter contained and on
the part of both parties to be kept and performed, the BOARD OF DIRECTORS of the
LIDPENINSULA REGIONAL PARK DISTRICT, hereafter referred to as "Public Agency",
and the Board of Administration, Public Employees' Retirement System, hereafter
referred to as "Board", hereby agree as follows:
1. All words and terms used herein which are defined in the Public Employees'
Retirement Law shall have the meaning as defined therein unless otherwise
specifically provided. "Normal retirement age" shall mean age 60 for
miscellaneous members.
2. Public Agency shall participate in the Public Employees' Retirement System
from and after , 19 , making its employees
as hereinafter provided, members of said System subject to all provisions
of the Public Employees' Retirement Law except such as apply only on
-election ot•la+aontracting agency and -are -not provided for herein and to,
all amendments to said Law hereafter enacted except such as by express
provision 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. Employees other than local firemen and local policemen (herein
referred to as Miscellaneous Members).
The following employees shall be excluded from membership in said Retire-
ment System:
NO ADDITIONAL EXCLUSIONS
The fraction of final compensation to be provided for each year of credited
prior and current service as a miscellaneous member upon retirement at
normal retirement age shall be applied as provided in Section 21251.13
of said Retirement Law.
5. Public Agency shall contribute to said Retirement System .as follows:
a. With respect to miscellaneous members, the public agency shall
contribute the following percentages of monthly salaries earned
as miscellaneous members of said System:
Ret. Dorm 126-1
(1) A lump sum of $619.00 payable on or within 30 days following the
effective date of this contract on account of the liability for
prior service benefits.
(2) 7.67 percent of monthly salaries earned as miscellaneous members
of said System on account of the liability for current service
benefits.
b. A reasonable amount per annum, as fixed by Board to cover the cost
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.
c. A reasonable amount as fixed by the Board, payable in one install-
ment as the occasions arise, to cover costs of special valuations on
account of employees of Public Agency, and costs of the periodical
investigation and valuation required by law.
6. Contributions required of Public Agency and its employees shall be subject
to adjustment by Board on account of amendments to the Public Employees'
Retirement Law, and on account of experience under the Retirement System,
as determined by the periodical investigation and valuation required by
said Retirement Law.
7. Contributions required of Public Agency and its employees shall be paid
by Public Agency to the Retirement System within thirty days after the
end of the period to which said contributions refer. If more or less'
-than the correct amount .of contribution is paid for any period, proper
adjustment shall be made in connection with subsequent remittances, or ad-
justment on account of errors in contributions required of any employee
may be made by direct cash payments between the employee and Board. Pay-
ments by Public Agency to Board may be made in the form of warrants, bank
checks, bank drafts, certified checks, money orders, or cash.
Witness our hands this day of
BOARD OF ADMINISTRATION
PUBLIC EB3PLOYEES' RETIREMENT SYSTEM
BY
William E. Payne, Executive Officer
Attest: .
BOARD OF DIRECTORS
OF THE
MIDPENINSULA REGIONAL PARK DIS'TRICT
BY
Presiding Officer1441
�. Y.�►
Clerk :›
•
Ret. Pori 126-2