CC Resolution No. 4825 ~ ~ ~
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• . RESOLUTION N0. 4825
A RESOLUfION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
OF INfE.YTION TO APPROVE AN AMENDMENf TO CONTRACT BEfWEEN
TIiE BOARD OF ADMINISTRATION OF THE PUBLIC EliPLOYEES'
RETIREMENT SYSTEM AND THE CITY COUNCIL OF THE CITY OF
CUPERTIPIO
WAEREAS, the Public Enployees' Retirement Law permita the participation
of public agencies and their employees in the Public Employees' Retirement
Syatem by the execution of a contract, and aets forth the procedure by which
said public agencies may elect to subject themselves and their employees to
amendments to said law; and
• WHEREAS, one of the steps in the procedure to ameiid this contract is the
~ adoption by the legislative body of the public agency of a resolution giving
~ notice of its intention to approve an amendment to said contract, which res-
olution ahall contain a summary of the change proposed in said contract; and
WHEREAS, [he following is a atatement of [he proposed change:
To provide 5ection 20614 (tha[ normal member contribution
rates be reduced from 7z to 3~5z). for miscellaneous members.
NOW, THEREFORE, BE IT RESOLVED, that the governing body of the above
agency gives, and i[ does hereby give notice of intention to approve an
amendment to the contract between the said governing body and the Board of
Administration of the Public Employees' Retirement System a copy of said anend-
ment being attached hereto, as an "Exhibi[" and by this reference made a par[
hereof.
PASSID APID ADOPTID at a regular mee[ing of [he City Council of rhA rt.~,
of Cupertino this 20th day of November , 1978, by the folloWing vote:
Vote Members of the Citv Council
• AY£S: Meyers, 0'Keefe, Rcgers, Sparks, Jackson •
NOES: None
' pgg~; None
ABSTAIPt: None
, ATT~'i : APPROVID:
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Cit Clerk ~ ~
Y /-Meyor, City~6f Cnpertino
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APffi~lfENT TO CONTRACT IIEIWEEN TEIE
• BOARD OF AD:dINISTRATIOY f~
PIIHLIC EMPLOYEES' RETIRE~NT SYSTE4
AND THE d' ~
CITY COIINCIL ~
OF THE ~p''~
CIn OF CUPERTLVO ~
The Soard of AdministraLion, Yublic Employees' Retirement System, herein-
after referred to as "Board", and the goveraing body of above public agency,
hereinafter referred to as "Public Agency"~ having entered into a contract
under date of July 10, 1967, effective August 16, 1967, and as amended
effective Juae 1, 1973, March 1, 1974, and December 22, 1976~ which provides
for participation of Psblic Agency ia aaid System, Board and Public Agency
hereby agree ae follows:
A. ~aragrapha 1 through 10 are hereby suicken from said contract ae
executad effective June 1, 1973, and herebq replaced by the
following paragraphe n~ber 1 through 10 inclusive:
~I 1. All vords and terms uaed herein which are defined in the Public
F~ployeea' Retizement Law shall have the meaning as defined therein
, ualess othersrise specifically provided. ":Iormal zetir~ent age"
edall mean age 60 for miscellaaeous membars and age 55 for local
' aafety members.
' 2. Public Ageacy ahall participate in the Public Fmployees' Retirement
-Syatem from aad after August 16, 1967, making its employees as
hereinafter provided, membera of said System subject to all provisiona
of the Public Employees' Retir~ent Lav except such as apply only on
nlection of a coatracting agency and are not provided for herein
aad to all ameadmeata to said Lav hereafter enacted eaccept such as
by eipresa provisions thereof applq onlq on the election of contractiag
agenciea.
3. Employees of Public Agencq in the following claseea shall become
membera of said Retizement Syste~ except auch in each such class
as are excluded by lav or this agreement:
a. Local Firemen (aerein referred to as local safety membera);
b. Local Policemea (herein referred to as local safety members);
c. Emploqees other than local safetq membera (herein referred to ae
miecellaneous members).
Ia addition to the classes of employees excluded from membership by
said Retiremeat LaW, the folla+ing classes of employees shall not
become members of said Retirement System:
NO ADDITIONAL EXCLUSIO:IS
CON-702-1
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4. The fraction of fiaal ca~pensatioa to be provided for each year of
credited p~ aad current service as a mi~ Zaneous m~ber shall
~ be detezmin in accordance wlth Sectiaa 21Z71.13 of said Retirement
I.av subject to the reduction provided therein for Federal Social
Security (Dlodified 2X at age 60).
5. The fraction of final compensation to be pravided for each year
o£ credited prior and curreat service as a safety member shall
' ba detarmiaed ia accordance with Section 21252.1 subject to
the reduction for Federal Social Security as provided in
Sectioa 21252.45 of said Retiremeat Lav (Modified oae-half paq
at agn 55).
6. The followiag additional proviaiona of the Public Fmployees' Retirement
Law vhich apply only upon election of a contracting agency ahall apply
Co tha Public Agency aad its employeea:
a. Section 21222.1 (providiag a five-percent increasa in allowance
to vhich the a~ual costrof-living provisions apply~ payable
for Cime co~encing on the first day of the calendar month
coiaciding with or next followiag the effective date of the
aaendment to add this section to this contract, to or on account
~ of umbera retired or deceaeed on or pzior to December 31, 1970).
b. Sectian 208b2.8 (providing aervice czedit at retirement for
unuasd sick leave).
c. Saction 20614 (that aoimal member contribution rates be
reduced from 7X to 3~X), for miscellaneous membera.
7. Public Agency~ in accordance vith Section 20740, Government Code,
ceased to be an "employer" for purposes of Chapter 6 of the Public
Paployeee' Retire~ent Law effective on December 22, 1976.
Acc~ulated contributions af Public Ageacy as of the aforementioned
date ahall be fized aad determined as provided ia Section 20759, "
Gaverament Code, and acc~ulated contributiona as of the aforr
mentioned date aad contributiona thereafter made shall be held bq
the Board as prrnrided ia Section 20759~ Government Code.
8. Public Agency shall contribute to esid Retirement Syatem as follows:
a. With respect to miacallaneoua members, the agency ahall
coa[ribute the folloving perceatagea of monthly salariee
earaed as miscellaneous members of said Retirement System:
(1) 0.910 percent ~mtil Juae 30~ 1990 oa accouat of the
liability for prior service benefita.
(2) 13.545 percent on accouat of the liability for current
anrvice benefita.
' b. A ressonable aount per ann~, as fixed by the Board to cover
tha coats of adminiatering said Sqatem as it affects the
emploqeea of Public Agencq~ not including the coata of special
valuatiana or of tha periodical iaveseigation and valuations
required bq law.
c. A reasonable smount as fixed by the Board, payable in one
iastallment as the occasiona azise, to cover the costs of
special valuations on account of ~ployees of Public Ageacy,
aad eoats of the periodical imestigation and valuations
required bq 2av.
CON-702-2
. 9. Coatributions required of Public Agency aad its emploqees ahall be
' ~ subject to a s~ent by Board on accouat of eadmenta to the
, Public Fsnplo~s' Retirement Law, and an acc~t of the eaperience
aader the Retiremeat Syatem aH determined by the periodical
iaveatigation aad valuatioa required by said Retirement Law.
10. Contributiona required of Public Ageacy and ita emplopees ahall
be paid bq Public Agency to the Retiremeat Syatem within thirty
• days after the end of the period to which said contributions
~ rafer or as maq be prescribed by Board regulation. If more or
less than the correct ~ount of caatribntiona ia paid for aay
period~ proper adjustmeat ahall be made in conaection with
subaequent remittanc~s, or adjusuneats on accoua[ of errors
ia contributiona required of any employee maq be made by
direct caeh paqmenta between the employee and the Board. '
Payments bq Public Agency to Board maq be made in the form
of varraata. bank checks, bank drafta, certified checks,
aoney ordera, or caeh.
B. This ameadment ahall be attached to said contract and ahall be effective oa
the day of , 19
Witness our handa this daq of , 19
BOABD OF AD!lINISTBATION CITY COUNCII.
PIIBLIC E2~LOYEES' RETIREMENT SYSTEM OF THE
CI1Y OP CUPERTINO
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BY BY
Carl J. Blechinger~ Ezecutive Of Presiding Officer
Approved ae to form: test:
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Legal Office. PERS Clerk
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CERTIFICATION OF GOVERNING 80DY'S ACTION
I hereby certify chat the foregoing is a true and correct copy
of a Resolution adopted by the ~
(Governing Body)
of the
(Name of Public Agencyj ~
, appearing at Paqe ,
(Date)
Volume of the (Minutcs) (Official Records) of the '
(Governing Body)
CITV CLERK or
Secretary of the Board
PEKS-CON-12 (II/77)
Poet Office Box 1953 y
Sacrmmento CA 95809 ~ •
~ CERTIFICATION OF COC~iPLIANCE WITH
GOVERHI9ENT CODE SECTION 7507
I hereby certify that in accordance vith Section 7507 of the
Covernment Code the future annual costs as determined by the Syetem
Actuary have been made public at a public meeting at least tWO weeks
prior to the adoption of the increase in public re[irement plan
benefits as provided by the
(optional benefit)
which vae adopted by the of
(legislative body)
the on the
(public agency)
Date:
original eignature
official title
?~AS-CON-12A (9-78)