HomeMy Public PortalAboutOrd. 0979
I
ORDINANCE NO. 979
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF LYNWOOD
AUTHORIZING AN AMENDMENT TO THE CONTRACT BETWEEN THE
CITY COUNCIL AND THE BOARD OF ADMINISTRATION OF THE
CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM
The City Council of the Cit~ of Lynwood does ordain as follows:
Section 1. That an amendment to the Contract between the City Council
of the City of Lynwood and the Board oF Administration, California Public
Employees' Retirement System is hereby authorized, a copy of said amendment
being attached hereto, marked "~xhibit A", and by such reference made a part
hereof as thougr, herein set out in full.
Section 2, The Mayor of the City Council of the City of Lynwood is hereby
authorized, empowered, and directed to execute said amendment for an on behalf
of said Agency.
Section 3, This Ordinance shall take effect 3o days after the date of
its adoption, and prior to the expiration oF 10 days from the passage thereof
shall be published at least once in the Lynwood Press, a newspaper of general
circulation, published and circulated 'tn the City of Lynwood and thenceforth and
thereafter the same shall be in full force and effect.
Adopted and approved this 6th
by the following vote:
day of November , 1974,
Ayes: Councilmen Byork, Green, Liewer, Morris, Rowe.
Noes: None.
Absent: None.
NR IEWER
Mayo
City of Lynwood
ATTEST:
, ' C4c~~/, ~~vc~5./c.LC..Pi1~A
JOSEP NE~ `SH P~ (
City Clerk
City of Lynwood
AMENDMENT TO CONTRACT BET'~YEEN TI~
BOARD OF ADMINISTRATION
PUBI,IC EPliPI,OYEES ~ R~TIREMENT SYSTEM
AND Tf~
CITY COUNCIL
OF THE
CITY OF I,YN~700D
The Board oY Administratior., Public Employeec' Hetirement System~ hereinafter
referred to as Board and the CITY COUNCIL of the CITY OF LYN1900D~ hereinafter re-
ferred to as Public Agency having entered into a contract under date oY May 7, 1946,
effective July 1~ 1946~ and as amended effective November 1~ 1951~ February 1~ 1954~
Au~ust l~ 1959~ vecember l~ 1964~ and November 13~ 1966~ and as provided by Chapters
1~0 and 316~ Statutes oP 1971, which provide for participation of Public A~ency~
hereby agree as follows:
A. Paraoraphs 1 through 9 are hereby stricken from said contract as executed
efYective July l~ 1946~ and are hereby replaced by the followin~ paragraphs
numbered 1 through 8 inclusive:
1. Al1 words and terms used herein which are defined in the Public Employ-
ees' Retirement Lavr shall have the meaning as defined therein unless
otherwise speciSically provided. "Normal retirement age" shall mean
age 60 for miscellaneous members and age 55 Yor local safety members.
2. Public Agency shall participate in the Public ~mployees' Retirement
System from and after July 1, 1946~ makino its employees as herein-
after provided~ members of said 5ystem subject to all provisions oY
the Public Employees~ Retirement Zaw except such as apply only on elec-
tion of a contracting a;ency and are not provided Por herein and to all
amendments to said Law hereafter enacted except such as by exprees pro-
vision thereof apply only on the election of contracting agencies.
3. Employees of Public Agency in the following classes sha11 become members
of said Retirement System except such in each such class as are excluded
by 1aw or this aareement:
a. Zocal firemen ~herein referred to as local sa£ety memUers~;
b. I,ocal policemen (herein referred to as local safety members~;
c. Employees other than local safety members (herein referred to as
miscellaneous members~.
The following employees shall be excluded from membership in said
Retirement System:
NO ADDITIONAI, r.-'Y.CI,USIOIQS
4. The Praction of final compensation to be provided for each year of
' credited prior and current service as a miscellaneous member shall
be that provided in Section 21251.13 of said Retirement Law.
Ret. Form ~02-1
~, Thf following additional pr~iisions of the Public Employees'. Retir.ement
Law which apply only upon eiection of a contracting agency shall apply
- to the Public Agency.and its employees: '
a. The fraction of final compenaation to be provided for each year of
credited prior and current service as a local safety member shall
be that proviaed in Section 21252•1 of the Retirement Law.
b. 5ection 21380-7 (providing for all.owances for survivors of inembers
covered under the program upon death before retirement).
c. Section 20952•5 ~providing for age 5~ as the minimum voluntary
retirement age for local safet~ members ~vith benefit payments
commencing prior to age 55 subject to actuarial discount).
d. Section 21222.1 and Section 21222.2 (providing for increases in
allowances to which the annual cost-of-living provisions apply,
payable for time commencing on the first day of the calendar
moizth coinciding with or next follo~ving the effective date of
this amendment to or on account of persons retired or members
deceased prior to July 1, 1971.
6. Public Agency sha11 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:
(1~ 1.01 percent until June 30, 1980 on account of the liability
for prior service benefits.
(2~ 7.67 percent on account of the liability for current service
benefits.
(3~ 0.75 percent on account of the liability for the 1959 Survivors
program.
(4~ 0.19 percent for ten years Yrom the effective date of this
amendment to provide the benefits under Section 21222.1 of
the Gover~unent Code.
(5) A lump sum of 961,624.00 payable within 30 days of the effec-
tive dr~te of this amendmen~ on account of the provisions of
Section 21222.2 of the Government Code.
b. With respect to local safety members~ the public agency shall con-
tribute the following percenta~es of monthly salaries earned as
local safety members of said System:
(1) 12.538 percent on account of the liability for current service
benefits.
~2~ 0.241 percent on account of the liability for the 1959 Survivors
program.
Ret. Form 702-2
` -(3) 0.400 percent for ten years Yrom the effective date of this
amendment to provide the benefits under Section 21222.1 of
. - the Government Code. ,
(4) A lump s~am of ~4~378•00 payable within 30 days of the effec-
tive date of this amendment on account of the provisions of
Section 21222.2 of the Government Code.
c. A reasonable amount per annum~ as fixed by Eoard to cover the costs
of administering said System as it affects the employees of Public
Agency, not including the costs of special valuations or the period-
ical investigation and valuation required by law.
d. 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 oP Public Agency, and costs of the period-
ical investigation and valuation required by law.
7. Contributions required by Public Agency and its employees shall be sub-
ject to adjustment by Board on account o£ amendments to the Public
Employees' Retirement Zaw, and on account of the experience under the
Retirement System, as determined by the periodical investigation and
valuation required by said Retirement Law.
8. Contributions required of Public Agency and its employeey shall be paid
by Public Agency to the Retirement System within thirty days after the
end of the period to which said contributions refer. I£ more or less
than the correct amount of contributions is paid for any period~ proper
adjustment shall be made in connection with subsequent remittances, or
ad~ustments on account of errors in contributions required of any
employee may be made by direct cash payments between the employee and
Board. Payments by Public Agency to Board may be made in the form of
warrants~ bank checks~ bank drafts~ certiYied checks~ money orders~
or cash.
B. This amendment shall be attached to said contract and shall be eYfective
on the lst day of JanuarX, ~975
Witness our hands this
14th
BOARD OF ADMINISTRATION
PUSLIC EMPLOYEES' RETIREMENT SYSTEM
BY
William E. Payne, Executive Officer
day of
November, 1974
CITY COUNCII,
Ot~ THE
CITY OF LYN~'OOD
BY
Presiding Officer
Attest:
i '
~ ~~,~ 9
~ ;.~.~L~. .i, ~4 ~"~-~,~~~I/~
~ Clerk
Ret. Form 702-3
S'Pl~'t~~&; OP C/~T~C]~~hD!7_~1 )
. ss
cour~~~v o!~ .,o:-~ r~;acT;~_:rs )
I, the unce~°:,i~,ned,
Ty~r.aood, and e~:-off'Lcic cler]c
her~eb;J cerLify that ti~~e a'oove
Ord-inance T~o. 979 ado~~ted
oi Lvm~~oc~;, and tliat same wau
vote tihcrr=in sta:,ed.
rit.y Cler?= of tY~c cits~ of
of thE. ~;ow:cil of said ciby, do
i.s a trL~~e and corrrct cop~~ of
t~y bhe C:it;~ Counci7; of the Cit;~
p2;se.;-d ~n che date and b,y Lhe
D•atcd i;hi.~ 14th day of ____`November _, 19 7~ •
\ ~,c`cyL~~. ~ / / ~ ~L~~cz~~
G~;~ C7:erl~, City o£' Lynvood_