Ordinance 1105
ORDINANCF. NQ. 1105
AN ORDINANCE OF THF. CITY COUNCIL OF T}iE CITY OF CUPERTINO
AUTNORI2ING AN AMENDMENT TO TFIE CONTRACT BETWEEN TiiE CITY
COUNCIL AND THE BOARD OF ADMINISTRATION OF THE CALIFORNIA
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
THE CITY COUNCIL OF .THE CITY OF CUPERTINO DOES ORDAIN AS FOLLOWS:
Section 1. Than an amendment to the Contract between the City Council
of the City of Cupertino and the Board of Administration, California Public
Employees'. Retirement System is hereby authorized, a copy of said amendment
being attached hereto, marked "Exhibit A", and by such reference made a part
hereof as though herein set out in full.
Section 2. The Mayor of the City Council is hereby authorized, empowered,
and directed to execute said amendment for and on behalf of this agency.
Section 3. This Ordinance shall take effect 30 days after the date of
its adoption, and prior to the expiration of 15 days from tha passage thereof
shall be published at least once in the Cupertino Courier, a newspaper of general
circulation, published and circulated in the City of Cupertino and thenceforth
and thereafter the same shall be in full force and effect.
INTRODUCED at a regular meeting of the City Council of the City of Cupertino
this 6th day of Aoril 1981, and ENACTED at a regular meeting of the
City Council of the City of Cupertino this 20th day of April 1981 by
the following vote:
Vote Members of the City Council
AYES: Gatto, Johnson, Plungy, Rogers, Sparks
NOES: None.
ABSENT: None
ABSTAIN: None
ATTEST:
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City Cleat
APPROVED:
Mayo City of C p rtino
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l.'ITII T!1E Pl^SJ:IC C""I^Y°"."' j'atJ.-;~7n!T ~~.r~~r:t
` FOR tlAla!:G f.'1 ACTUA3tT1'L 1AL141'il0it A3 STA':'i;p 11kC.EIa
P.y thl,~ ALT.LCl[E:iT rsdo this d..^y of , 1,~ , /n
arcor@rnce with and oubject to the proviaiuun of th° i'ublic F.:~nloyu"n l:_tlrer-nt l.aa bq
~ sad bctu::en the Governing holy of th^ above Yub11c Ac,ency, h_rr.inafc~r rrfarrud !.o no
A~cnr:y, e_Rd the Public E!aployeea' A~tirnsent Syatea!, hereinafter refarrc.d Co ao Syatu~,
Agcacy and System agree ao followst
A. Agency herewith retains the services of System to p: rforn tl!r, r•rluntl.on(c) rcc;!,irrd
by Secticn 20461.1. of tha Public limplo;eca' t:eti.rrr..^.rt Ls.w for the Carpuoa of c'r.tet•-
r•luation by the fionrd of Adminiar<ratioa of tb~~ Public F.xployt:o' C.ctirer:»t Syr.tcn
of the cuntributiona to be wide by Agency andrr Leeucy'c contract wlth oaid Guard if
the b^_nefits under said contract are rupnlerentcd by n cv:bi^.atioa of bear.fit.o ahot•n
ns one of [he vertical columns on attached E::hibit A. The fcc for cash ec:bisation
of new benefits is show at the bottom of the respective coluaz.
8. /.Seney will pay $ 1^7.^0 to System upon completion of the actuarial vnlunti.on,
such foe b~1ng based nn the nucber of etnployr_~a (both active rrd those loavl.nf
contributlono on deposit) i!!eluded St! the valuation and the uenbercltip cate„ories
and different cosbinati.ons of maw benefits involved.
C. /.ny and all data end ieforration requested by Syste:a frost Agency for use in coepi-
lotion of Chia veluatloa shall be furnished to System ley Agency upon raqueet by
Syctca. Tha actuarial tables and procedures to be uoed in tt~e valuatioa shall be
in aceordsnce with tha tables approved by said Eoard of Adainiotratiou. Syatea shall
have sole control of thn valuation sad ico jvlEment in the deterainr.tica thereof
I shall be final and concluoive. All work sheets end final rc~ulte and reports, the
product of the valuation, shall be and rem in the propertq of the System.
Wlcncae our hands the day and year first above written.
PUBLIC P1II'LOYEES' RETIREtffdiT SYSTEH
BY
CARL J. BLECHI1iCCR, EXECUTIVE OFFICER
CITY OF CUPF.F.TIRO
BY
TITLE
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A^eca:.ent Valuation ~_,~,. ~, ~, , ,