HomeMy Public PortalAbout66-075 (08-02-66) . . . �
RESOLUTIOIQ No. 66-75
RESOLUTION OF INTENTION TO APPROVE AN
AMENDMENT TO CONTRACT BETWEEN THE
HOARD OF ADMINISTRATION OF THE
STATE EMPLOYEES� RETIR.Er�NT SYSTEM AND THE
CITY COUNCIL OF THE
CITY OF LYNWOOD
WHER�EAS, the State Employees' Retirement Law permits the participation of public
agencies and their employees in the State Employees' Retirement System
by the execution of a contract, and sets forth the procedure by which
said public agencies may elect to subject themselves and their employees
to amendments to said Law; and
WfIEREA5, one of the steps required in the procedure to amend this contract is the
adoption by the legislative body of the public agency of a resolution
giving notice of the intention to approve an amendment to said contract�
' which resolution shall contain a summary o£ the changes proposed in said
contract; and
�_ _ Y,�IiEREAS, the £ollowing is a swmnary o£ the proposed change:
-- ----'-"""' l. Monthly retirement allawances being paid on the effective date o£
, this amendment to persons (or their bene£iciaries) who retired with
credit for 20 or more years o£ service to this agency and whose
allowances were based on a five year £inal compensation shall be
increased £or time beginning with the first day of the calender
month coinciding with or next following the effective date o£ this
amendment.
Date o£ Retirement Amount of Increase
June 30� 1951 or earlier $25.00
July 1, 1951 through sune 30, 1952 20.00
July 1� 1952 to amendment date 15.00
If retirement occurred xithin the above specified dates and credited �
service was less than 20 years� the increase shall be in the same
proportion to the above specified amount as the years of credited I
service bear to twenty. Increases granted under this paragraph shall
be in addition to any prior increases.
2. Retirement allowance payable for time cotmnencing on the £irst day I
of the calender month coinciding with or next folloxing the e££ec- J
tive date of this amendment to or on account of any member who re- I
tired on or prior to July 1, 1956, are hereby increased by $10.00 i
a month plus a percentage varying according to date o£ retirement I
-"' -� and years of service to a maximum of 5�. ��
" 3• Retirement allowances payable for time commencing on the first day
of the calender month coinciding with or next £ollowing the ef£ec-
tive date of this amendment to or on account o£ any person whose
retirement became e£fective on or prior to December 31, 1961 are
hereby increased according to a sliding scale ranging from two
percent £or those whose retirement became ef£ective during the
eighteen months ending December 31, 1961� to a maximum o£ ten �
- Ret. Form 122-1 I
percent for those whose retirement became effective
July l, 1g57, or earlier, but not to exceed the sum
o£ $50 per month, as provided in Government Code
Section 21251.6 added by Chapter 2099 Statutes of
1963•
NOW, THEREFORE, BE IT RESOLVED, that the CITY COUNCIL of the CITY
OF LYNWOOD gives, and it hereby gives notice of intention
to approve an amendment to the contract between the CITY
COUNCIL and the Board of Administration of the State
Employees' Retirement System, a copy of said amendment
being attached hereto, marked "Exhibit A" and by this
� "`�� � � re£erence made a
, .. part hereof.
y � r �
_'�� APPROVED�and ADOPTED this CITY COUNCIL
'` 2nd, day, of�.August, 1966. OF THE
� _ -�- CITY 0� LYNWOOD �
, ' , f
' � . BY . � . .1 . �---•
. ayo tr, ity of Lynwooa .,,, .______._..__
ATTEST:
��r��i��ti�?�.-��<�L'v�
/City Clerk, Cityiof Lynwood
Ret. Form 122-2
: , , _
:
C�R'"IFICl�TIOIS OF GOVERi'iI?JG BODY' S!�C7'IORr
I hereby certify �i�at t'.�� foregoir:g ic a true �id correct
copy of a Re�olution adopted ry t;;�e CITY COUNCIL
Governing Body
of the CITY OF LYNWOOD on Au�ust 2
ila�me o£ Public Agency '
19 66 , appe,^sing at Page 210 , Volw+�e 15 oi' the (Dlinutes)
_�°"`�(Official Records) of 1;he CITY COUNCIL OF THE CITY OF LYNWOOD.
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— . '� CTiY CLERK or '
' - Secretz�sy oi' t1�e T3oa:d
, _
Ret. rorm 949 (Rev. 9�77) 75
--- �, � ,�. . ,
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