HomeMy Public PortalAbout85-054 (05-07-85)RESOLUTION N0. 85-54
RESOLUTION REQUESTING
THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM
TO EXTEND THE FUNDING PERIOD FOR
CURRENT SERVICE, DEATH BENEFITS, AND 1959 SURVIVOR BENEFIT
ACTUARIAL LIABILITIES
FOR THE
CITY OF LYNWOOD
idE~ REAS, the City of Lynwood is a contracting agency of the Public
Employees' Retirement System; and
WHEREAS, the City anticipates revenue reductions which could be
partially offset by extending the funding period for current service, death
benefits, and 1959 survivor benefit actuarial liabilities; and
WHEREAS, the City of Lynwood has been advised by the Actuarial Office
of the Public Employees' Retirement System that the City Council may request the
extension of its funding period for current service, death benefits and 1959
survivor benefit actuarial liabilities to June 30, 2011, under the terms of the
contract with the Public Employees' Retirement System;
NOW, THEREFORE, the City Council of the City of Lynwood does hereby
find, determine, order and resolve as follows:
Section 1. That the. City Council of the laity of Lynwood does request
the extension of the funding period for the current 'E'S service, death benefits
and 1959 survivor benefit actuarial liabilities to .rune 30, 20].1, under said
agreement and further resolves to direct the :]ity 71erk to forward two certified
copies of this resolution to the Public Employees' Retirement System.
Section 2. That this resolution shall be effective July 14, 1985.
PASSED, APPROVED and ADOPTED this 7th day of MaY 1985.
ATTEST:
ANDREA L. HOOPER, City Cler
City of Lynwood
AF PROVED AS TO FORM:
l City Attor ey
~~~
JOEIN D. BYORK, Ma or
City of Lynwood
APPROVED AS TO CONTENT:
(715-rW`i l.~A.iC/V "\A~~
Sandra Chapekek, Personnel Manager
NOTED:
Barbara Fikel, Accounting Manager
STATE OF CALIFORNIA )
ss.
COUNTY OF LOS ANGELES )
I, the undersigned, City Clerk of the City of Lynwood, do hereby
certify that the foregoing resolution was passed and adopted by the City
Council of the City of Lynwood at a regular meeting held on the 7th day
of MaV 1955.
AYES: COUNCILMEN HENNING, f40RRIS, ROWE, THOMPSON, BYORK
NOES: NONE
ABSENT: NOfJE
City Clerk, City of Lynw od
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