HomeMy Public PortalAboutOrd. 1008ORDINANCE N0,_ 1008
AN ORDINANCE OF THE CITY COUNCIb of the
(Name of Governing Body)
CITY OF LYNWOOD authorizing an
(Name of Public A9ency)
AMENDMENT TO THE CONTRACT BETWEEN THE CITY COUNCIL
(Governing Body)
ANO TME BOARD OF ADMINISTRATION Of THE CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM,
The CITY COUNCIL of the CITY OF LYNWOOD
Name of Gover~ing Body) (Name of Public Agerscy)
does ordain as follows:
~ECTION 1, That an amendment to the Contract between the CITY COUNCIL
CITY OF LYNWOOD Name of
of the a~d the Board of
Governing Body) (Name of Public Agency)
Administration, California Publfc Employees' Retirement System is hereby authorized,
a copy of said amendment being attached hereto, marked "Exhibit A", and by sueh refer-
ence made a part hcreof as though herein set out in full, °
SECTION 2, The ~Y~R of the
CITY COUNCIL ~T~tle of Presidi~g Officer)
is hereby authorized, empowered, and directed to
(Name of Governing Body)
execute said amandment for and on behalf of said Agency.
SECTION t, This O~dinance shall take effect 30 daya after the date of its
adoption, and prior to the expiration of 1~ days from the passa9e thereof shall be
pubitshed at least once in the L nwood Press
Name of Newspaper ~
a newspaper of general circulatlon, published and circulated in the Cit.y of
(Name of
Lvnwood and thenceforth and thereafter the same
Public Agency)
shall be in full force and effeet.
Adopted and approved thts 5th da f October ~g 76
Attest: ~Presiding Officer
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PERS-ACT-11 (Amendment) ~9/7~)
CERTIFICATION OF FINAL
ACTION OF GOVERNING BODY
DATE: October 6, 1976
. Board of Administration
' Public Employees' Retirement System
P,o, Box 1953
Sacramento, California 95809
I hereby certify:
That the i%~Ti' COUP~CIL
of the CITY OF LYNWOOD
pted on October 5, 1976 ~ by an affirmative
vote of a majority of the members of said governing body,
GRDIivATdCc: ryo 100i5 approving the attached
Anendment
between the governing body of said Age~cy and the Board of Administration of the
Public Employees' Retirement System, a certified copy of said Hmerldment
in the form furnished by said Board of Admfnistration being attached hereto,
~
, ~
/i
z`-c=c~~tL-C„~a~" ~~'i ',~-f[t~~C-~27~
Clerk et-Secretary '
CITY OF LYNWOOD
Name of Ageney
PERS-ACT-S (1/74)
Al~ND~T TO CONTRACT SETNEEN Tf~:
BOAHD OF ADffiINISTRATION
PUB7,IC EMPLOYEES' RETIRED~NNT SYSTEM
AND Tf~
~~
CITY COUNCIZ,
OF TfIE
CITY OF L~TWOOD
The Board of Administration~ Publie Emploqees' Retirement Syetem, hereinaPter
rePerred to as Board and the CITY COUNCIL oY the CITY OF I.YNWOOD, hereinaPter re-
Yerred to ea Public Agency, having eatered into a contract under date of May 7, 1946~
efYective July 1~ 1946~ as amended eYfective November 1~ 1966~ Janusry 1~ 1975~
July 13, 1975~ and September 7, 1975, which provide ior participation oP Publia
Agency, hereby agree as followe:
A. Subparagraph 5(e) ehall be stricken Yrom said contraot, and the following
subparagraph 5(e) ehall be substituted therePor:
5(e) Section 20024.2 (deYining "fYnal compensation" on the basis oP
average compensation earnable during the year im~ediately pre-
ceding retirement or any other one year period elected by the
member).
B. Paragraph 5.5 ahall be added to said contract:
5.5 Public Agency, in accordance with Section 20740, Government Code,
shall cease to be an "employer" for purposes of Chapter 6 of the
Publie F~uployeea' Retirement Law effective aa of the effective
date oY this amendment to thie contract. Accumulated contribu-
tions oP the Public Ageacy as oP the date oY such amendment shall
be Piaed and determined as provided in Section 20759~ C~vernment
Code, and such accumulated contributions and contributiona here-
after made shall be held by the Board as provided ia Section
20759, Government Code.
C. Paragraph 6(a) shall be strickea from said contract and the following
paragraph 6 (a) subatituted thereYor:
6(a) With respect to local miscellaneous members, the public agency
shall contribute the Pollovring percentages of monthly ealaries
earned se local miscellaneous membera oY ea3d System:
Ret. Form 702-1
^ .
_ (1~ 0.489 percent until June 30~ 1980 on account oY the liability
Yor pr3or service beneYits.
(2~ 8.784 percent on account oP the liab3lity tor current service
~ benePite.
(3) 0.173 percent on account oP the liability for the 1959
survivore program.
- (4) 0.190 percent until December 31~ 1984 on account oY the
beneYita provided under Section 21222.1 oY the Government
' Code.
D. This amendment shall be attached to esid contract and shall be ~pfective
on the 17th ~,of October, 1976
Witnese our hands thte 6th
BOARD OF pDMINISTRATION
PUBLIC EMPI,OYEES~ EETIREBIENT SYSTEM
BY
Carl J. Blechinger~ Eaecutive OYficer
Approved as to Form:
~y of October, 1976
.
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f ^-~'l~°L L ~
- Clerk
Ret. Form 702-2
CITY COUNCII,
OF THE
CITY OF L7(NWOOD