HomeMy Public PortalAbout2359 (08-21-51) � ? � _ Y � ' . .
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RESOLUTION No. 2359
RESOLIITIC:N OF ITdTE^�'TION TO APPROVE
AP:TENDP7E�IT TO C,01QTR4CT i RO'VIDING FOR
Pr1PT;CIPATION IN
STAT� E'i:IrLOYP�,FS � P�.£TIR�:iEiIT S°5'!'T'.�it4
P7f�REAS, the State Employees' Retirement law pex^nits the participation of public
agencies in the State P,mployees' Retirement System� by the execution of a contract
making their employees members of said System� and sets forth the procedure by rvhich
said public agencies may elect to subject themselves and their employees to amendments
to said lar:, providing £or a guaranteed percentage of 'fi.nal compensation £or each
year of service as "P2ember"� and providing £or the portion o£ compensation to be in-
cluded in computations under said la�,v; and
T1'i�:RFP_S, one step in said procedure is the adoption b,y the legislative body of
the pubTic agency, of a resolution giving notice of its intention to approve an amend-
ment to a contract between sai3 governing board and the Board of kdministratien of
said Retirement System, providing for said participation, which said resolution shall
contain a sur.vnary of the major provi.sions of the proposed Retirement System; and
WH&RE4S, the following is a sumnary of the major provisions of the proposed
Retirement System:
1. The System is adrainisterel by a board of eightnembers, cemposed of
three members o£ the Systen� an o£ficial of a banic, an official oY a
life insurance company� the Director o£ Finance, a member of the State
Personnel Board� and an official of the University of California.
2. Retirement for service is optional upon attainment of age 55 bY lo-
cal £iremen and local police:nen, and age 60 or age 55 at t.he election
of the i'ublic aoency, bJ other emoloyees, and completion of tvrenty
- -- Jears of service for the iublic �"�gency, ar.d is compulsory at a�e 65
for local firemen and local policemen, and nt age 70 Sor other
3, The monthly retirement allovrance payable upon retirement £or service
is de�endent upon such factors as age� sex, salary and years of ser-
vice. For iocal firemen and local policemen, retiring at age >5 in
paragranh 2, or at a hi�her age vrith 20 years o£ service� the month-
ly allovrance is approximately one-half the average monthly salary
during the £ive years immediatel,y preceding retirement, unless th�
Public �lgency elects to provide prior service benefits at less than
the �ull amount. For other �'�gency employees� the monthly allosvance�
upon retirement at age 65 i£ the Agency elects 60 as the loivest op-
tional service retirement age� is approximately 1/�Oth of the aver-
age monthly salary during the £ive ;/ears immediately preceding
retirement, for each year of service after the ef£ective date of
participation, plus approximately 1/70th, or less as may be pro-
vided in said contract by the Public �gency £or its employees, of
"£inal compensation" or of the average monthly salary during the
three years immediately precedin� the effective date of partici-
pation, £or each year o£ service prior to that date. Upon retire-
ment at age 60� if the agency elects �� as the ].owest optional
service retirement age, the £raction is approximately 1/60th instead
of 1/70th.
F 122d - 1 (Guar. �& Comp.) 10-50
, .
s � � I . . ,
l�. A minuaum service reti:ement alloraance of 51,0 per month is �uaranteed
upon retirement at age 70 roaith credit £or service rendered prior to
sa�d effective date� if the F'��lic �agenc;� elec+s a�*e 60 as the lot•�est
optional service retirement age� or a minimum allo�:�ance of ,�,60 per
month upon retirement at age 65 or over ,vith trventy ;rears of service,
or upon retirement at age 70 with credit for prior service� if the Pub-
lic Agency- elects age 55 as the lo;�est optional service retirenent age.
[. ^etirement for disability, except in the case of local £iremen and lo-
cal policer�en disabled £roru in�ury arisin� out o£ and in tne course
o_° er.:plo;�ment, is nermitted on13� after ten years o£ service and uran
;�roof of incapacity for the per£ormance o£ duty.
6. `I^.ie monthly retirement alTovaance payable upon disabilit�- reti:ement,
described in precedin� item 5� is dependent upon such £actors as a�e,
salary and years of service� but generally is eoual to 9c� of 1/?Oth,
or 1/fi0tn as tne case may be� of the average monthly salary durir.g
the iive �.rears :mmediately preceding retirement, for each year of
service� v�ith a guarantee of 25% o£ said sala:y� subject to certain
restrictions and modifications.
7. �isability retirement of local firemen and local policenen� in tne
event of disatility arising out of and ir. the course of emplo;,^.aent�
is percnitted regardless of age and service, the monthly retirement
allmvance being one-half the average montnly salar,y during the five
years immediately preceding retirement.
8. The benefit payable ^t death before retirement� e;ccelt in the ca,e o£
f local firemen and local policen;en dying from inju:,y arisin� out o£
and in tae course of'employment, consists of tt:e con�.ibutions o£ the
member plus interest� and plus 1/12th o£ the r,iera;e�'s annual sal.ar;,r
durin� the year imr,:ed-atel�� preceding death, °or eacY'. year, not ex-
ceecing six years, of service as a member of t:ie System. Upon death
after retirement, and at the election of the i'ublic Agency� a bene-
- - ° fit-of-�300 is payable. � - '-""
9. The monthly allo�vance payable to +he PJ1C�047 and children, at the death
of local firemen and local ;?olicemen arising out o£ and in the course
cf employmer.t� is one-half the average monthl,y salary during the five
, years im^�ediately precedin� death.
10. Tne bene£it upon separation from service b�� other cause than death
or retirement, is the refund of the member's contributions, vrith in-
terest. r`.embers having acct:mulated contriUutions o£ at least u500
upon resi�nation or dischzrge, may elect irrevocably, vrithin ninety
days, to leave contributions in the Retirement Fund, and then upen
reaching the lovrest optional service retireMent age or beco�ing cis-
abled� to be entitled to receive such retirement allovaance as vrill
be provided by their and the Agency's contributions and their
credited service, regardless of service rer.dered.
r 122d - 2 (Guar, `,°� & Co;ap.) 10-50
�� . _ ,
�
State LMPlot�ees � R.etirement. Lav,�, £or each year of service rende:^ed after
said c'ate, �s dete.snined. for said respective members under said lar•r, £or
re±.irement :'or service wt «�,e 55, o� ur quali£ication for service
retire:neat �t a hi,^,her n.�e. I£ '� :nember �et�_rea for service be£cre
attain,ing age ��, Lis prio. serv'.ce nension shall ��e rerluced to that
amount , .rhicii the value of the pensior, �s ceierred. to a,^�,e » r:ill purchase
at the :zctuai a.ge of retirement.
,
f,. 1"ze :,rovi.sions oi Sactinn 212r�b o£ thP Stat.e L`nuloyees' retirerent Lavr,
guarant.�ein- a miniatsr. retirement allo;:*ance �.uider certain conditions
shali :aP;.ly to persons �;rho are mrr�bers because o£ emplo;,raent by
ruLlic N,•enc;�.
;. The nr�visio:i^ of Sect.ion 213�7.> of t'rie State �r!ployees' Retirement Lair,
i`rov=w'i.::F a a:;p0 desth benefi� a;'t.er retirement sh�ll apply to
ner,c�ns �:r:o ..re r.tember; tecause o£ errplo;,�ment b, Feblic A�ency.
10. ir.e. provi.si�ns o£ Section 2002� of tY.e State �mp'oyees' Retirement La�z�
prcvidinr � i^.;; t:iere shall be n.o max:�num li!nitation in the compensation
��mi.ch silail, be included in eomputati.ons under tne ?tetir�^�ent LatiJ,
shall appl;y tc empin��ees of Pu.blic Agency who become me,nhers of
said Ret�re:nent. iyste;m. -
11. The retirement allowances oY persons who srere membera because of employ-
ment by Public Agency and vho srere retired prior to the effective date
of this amendment shall be recalculated on the basie of this contract�
but in no ement shall ar�y allowance be decreased� and said allowancea
ahall be paid for tir� beginning with the ePfective date of this amend-
ment in the recalculated amounta. Paragraph 9 of this contract shall
appl,y to persons retired prior to the eYPective date of this atnendment
and whose death occurs xhile receiving a retirement allowance based
on tiine after said effective date because o£ employroent by Public
Agenep. �
12. Public A;eacy shall centri:»tte to said Re�i��arient ;;��sten as £olloi;�s:
a. The st±m e° 4� 8 583.00 per •snrn:m, or more fr•eouent installments as
3oa;d slYail ^eq�.xi.re, For tt:n per_.od of years stated in said Contract,
less the t9ne cicpsed °rom t.�e d�te of participation to the effective
d�.te 1lereo�'.
r• $•182 per cent oi total salaries pai:l b;j Public A�ency each mor.th
to i{;s emp=o,y�es 1^rho a� e nem,�ers o.i said ?tetirement i,ystem, pro��ided
that enly 5?lary earned as menbers c; said Syste� shall be included in
said total salaries, and the empl.o,yess Jrno are mernbers of said System
sh�l_l incluce ernnloyees tivho are members upon the e£fective date hereof
ar.d erap7.oyees rrho become �em�ers thereaf'ter.
c. !1 r.ecsonable arnovnt per annum, as fixed b,y Board, to cover the costs
of ac';minister;ng said System as it :xf£ECts the employees of Pub7.ic
Agency, not including �he co�ts o£ �peci�l valuations or of the peri-
odical investi�ation and valuat.ion .required hy la�v, provi.ded that
said amount shall be: dA+.exT��.i:1ed en tr,e rasis of the msnber of employees
uf Public ��cencJ �:ho are. members cn July lst o£ the respective fisca).
;rears.
d. A reasonable amoiuit as .f'ix.ed ty'the Board, payaule in one installment
fro*� tine to time as the occasions arise, to cover the costs of
special valua+,ions on account of employeAs of Public i�gency, and the
F7o3-2 (47-49 s,a) 6/51 l�:o
r '
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,�; ,
11. Contributions required oF local firemen and local policemen, without
credit for prior service, depend upon salary and upon age o£ entry into
the 3etirement uysten� the contributions per �100 of salary varying
- fro;� �7,63 at entry age 21� to �ll� at entry age 35. Contributions
o£ £iremen and policemen naving credit £or prior service depend on
salary, entr,y age, and aznotuzt of prior service, the amow-�t of contribu-
tions per �100 being $16.33 for example, at entry age 51�, with 19 years
o£ prior service.
12. For other n.gency employees� the contributions depend upon salar,f� sex
and age of entry into the Retirement Stjstem, the contributions per �100
oi sala;y varying £rom �p1y.62 at age 20� to �7.99 at age 6�� for men�
and £rom $5.36 at age 20� to Y�9.1y5 at age 61y, £or ��omen, all ba^,ed on
the Public .4oencf+s election of a�±e 60 as the lot^rest optional service
retireaent age. If the Public Agency elects age 55 as the lowest op-
tional service retirement age, the contriUutions per �100 0£ salary
vary from w7.36 at aPe 20� to �10.88 at age 59� for men, and £rom
�8.3� at a�e 20, to ,�12.81 at age 59, for vromen.
13. The Agency is required to contribute the balance o� funds necessary to
meet the cost o£ tne benefits provided under the Retirement System for
the Agency emoloz�ees. The .4gency also is required to pay its propor-
tionate share of the administrative costs of the System.
14. Abilitp of. the Retirement System to pa;� benefits is sa£eguarded by a
provision authorizin� the Board o£ Administration to revise contribu-
tions of roth employees and ttie Agency, in the light o£ experience
under the System,
BE IT RESOLQED� that the Cit Council o£
:,a�e o£ Governing �7ody
the Cit of L nWCOd , give� and it hereby �;ives notice o£ inten-
ame of blic Agency
tion to approve an a:,iendment to the contract between said City Council
, Name of Governing Body
and the Hoard of Ad,.^�inistration cf the State Llnplo,yees� Retirement System, providing
for the participation of said Gity of Lyntvood in said Retire-
i•.a;�e e£ Ulic �lgency)
ment System, a copy of said amendment being attached hereto, marked °Lkhibit A'�, and
by reference iaade a gart hereof.
City Council a f
2dame o�' Governin� Body '"
the City oP LynFrood
P•tame of Fu b lgency
Ry � ` � / ;
/ it e
� 19J �i4�02
_ Dat Adopted and Approved �
F122d - 3 (Guar. J & Comp.}
. r
,.: . .
�� costs of the periodical. investigation into the ex�erience under said
Retirement Sy�tem, as it aSfects said emplo;�ee�, and the valuation of
� the assets snd liabilities oi S31C� Sgste:n on account of said employees.
Contributions :equired of Puhl_c 9�ency_and its emplo�ees shall be subject
to ac?justment by the Poard o£ Ad:ninistration on accowit of ar.iendments to
the >tate ?'.np�cyees' Fetiser.;ent I,a•rr, and on account of experience under the
Reti:ement S�:;te:1, as deternined hy +.,!�P periodical investigation, valuation
and determination provided £or by said Eetirement I.avr.
13. Contri.butior.s reqn.ired of ?'ublic P.genc;� under the para�raph immediately
precedine, and contr_butions required of Public Agency�s employees vrho are
membe�s of said Sy-stem� shall be paid by PuUlic Agency to the State
�ployees' Retirenent ;}-etem raithin thirty da��s after the end of the r�onth
or lon�e; period to �:�hich said contributions refer. If more or less than
the correct a-�ount of' contributions renuired of Public Agency or its
employee.s i, paid for any period, proper adjustnent shall be msde in connec—
tion �.2th subsequent re:�ittances oF Public Agency to the Board, to rectify
the e:roi•s; or such adjust�aents on account oY errors made in contributions
requi�ecl of er�ployees, ma,y he made by direct cash payments bet:veen the
employee in connection t;�ith *:hcm the error �ras rnade, and Board. Payments
o.f Rlblic CgenCy to Aoard ma�� be made ir. the `orr., oS tvarrants, bank checics,
banlc draft�., certi£ied chec?;s, monev o^ders, or cash.
3. Bene£its, inclu3ing retirement allovrances, prior to the efFective date of this
amend�ent, shall not be a£fected by this amendment� unless othervrise provided
herein.
4. This amencLment shali be attached to said Contract and shall be effective as
of October , 19 51 .
F+itness cur hand this day of � 19_
CITY COIJNCIL of
?lame o£ Legislative Body
Attest:
CITY OF LYNFJOOD .
., er ilame of Fuolic :l�enc��
r
. � � ��,. '�C����� .
F'resid g 0£fi .er
� „
!.OA:�D CF' ADb:IDiISTRATIOid
STpTE Elt?PLOYE�S � RETIREh4ENT SYSTEP�
Attest:
��
:cecutive 0 ficer P: esident� Eoard o£ 'ldministration
F7o3-3 (1s7-1l9 si:i) 0/>'1 1�50
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ti
� � I�.l��:�1`iT `�� C�IJ�1Ci`r B�`�I��Q �T.E
` �on�n o�� an•,:�is�a�zota
STATB II`:iPLOYF�S� RETIRI�.4BPIT SYSTL�;?
' A �
Governin� Bod
GF ^HE CITY OF LYN{d00D
Name of Public Agency
The Boar� o£ Adriinistration, State Employees' Retirement System, and the
CITY COUNCIL of the CITY OF I,YNWOOD ,
Governinv �SOdy Plame of Pub ic A�ency
hereina£ter re"erx•ed to as APenc;/� `�aving entered into a contract under date of
May 7 , 19 !ab , e£fective Jiy'�y 1 , 19�,_,
,_ _ rrhich provides for the participation o£ said Agency in said Retirement System,
and said Contract' being based on the' Retirement Larr exclusive of amendcnents�-� �
thereto ��rh.ich chan€ed benefits and ages o£ retirement, said Board o£ Adninistration
and said . CITY COUNCIL hereb,y agre? as follotivs: .
-- -�Governin� �?ody
]:. Fara�,�� 6� 7� 8� 9 and 10 shall Se and are hereb,y stricl:en from said
Contract.
. 2. The follo�.�ing _r.aragraphs shall be and ai�e hereb;/ added to said Contract:
ll. Aee 60 shall be t,iie nonn�l age i'or rrtirement £or service, of persons
rino are miscella.neous :�erbers hecause of emnloyment b�� Public A�ency,
that is, me*�bers other t::an Local I'iremen� iocal Policenen or County
Peace GS�icers, and one-six. shall be the £raction of £inal compensa-
tio�i, as de"ined in said Rstirement• Latir, to Ue previded for each year
o£ servire .�.s a nember uPon retirement at. age o0, and the provisions of
Section 212�1.1 of said ?2etirenent Lai:�, nro�.�idin, for a,r,uarante�d percent-
age oi sa�.d final ro:pensation, shall anply.
5• Prior seraice.bene£its tc r�iscellaneous riembers e:sployed by Public Agency,
that is, �aem5ers other taan Local I'iremen, Local �olicemen, or �ounty
'Peace OSficers, upon retirenent £or ser��ice, shall be alloered only as a
percenta�� of tne average salar,y specified ir. Rection 21253 0£ said
I'etirement Law, for each ;;ear o£ such service, and said percenta�e shall
be 1C0 per cent of the pex�cer.ta�e d.eterminer'_ under said Section for the
1�e �t retzrement. ' '
6 :ige 55 shall be the min::-�um age £or ret.irement for service, of persons
. who are members because oi' employment b�r Public A�ency as.Loca1,I'iremen,
Loca7. Police:aen er Co�.uity Peace Officers and the provisions o£ Section
212[2.ly of tne 3tate F�Y;:pinyees' P�etirement Laiv, providing fc,r a cn;aran-
teeci percenta�e o£ final compensation for each ,ye�r of eurrent �ervice
as a merriber, shall appl;,� to such menbers..
7. P.en�fit; on account of prior service, tnat is, service credited hereunder
as rendered to ;ui,lic ilgenc;y prior to the ei'fective date of participation,
to resnective persons tirho are r.ier�Uers because of employ:�ent U,7 Public
^.�ency as Local Piremen, Local :'olicemen or County Peace Gi'£icers, shall
be a.11o�red onl,y= as s percentage o° the a.vera:�e salary specified in said
'.?etirenent La�z, ior each ;;ear o..° s��ch servi�e, and said percentage shall
be 100 I�?r cent cP_the fraction of £i�al cc�pensation, as de£ined in the
r7o3-1 (1t7-1t9 SM) 6/51 tt50
9TATE OF_CALIFORNIA )
� COUNTY OF LOS ANGELESo ea
CITY OF LYNWOOD
I, the undereigned City Clerk of the
City of Lynwood do hereby certiPy that the above
and foregoing resolution wae d��y adopted b5� the
City Council of eaid City at �� regular
meeting thereof heTd �n the City Hall of sa�d City,
on the ZlBtday of August , 19�1, and passed
by the following voteo
AYEBo COUNCILMEN Bruner, Daetweiler
Moffitt, 8n�ddon, Willard
NOESe COUNCILMEN None
AHSENTo COUNCILMEN None
.. LERK, CIT• LYNWOOD.� ; � %
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