CC Resolution No. 5591 ~ ~
RESOLUTION N0. 5591
A RF.SOI.UTION OF THE CITY COUNCIL OF T1fE CITY OF CUPERTINO
STATING [NTENTION TO APPROVE AN AMGNDEMENT TO CONTRACT BE-
' TWEEN THE 80ARD OF ADMINISTRATION OF THE PUBLIC EP4'LOYEES'
, RETIREMENT SYSTEM AND THE CITY OF CUPERTINO
WHEREAS, the Public Employees' Retirement Law permits [he par[icipation
of public agencies and [heir employees in the Public Employees' Re[irement
system by the execution of a contract, and se[s forth the procedure by which
, said public agencies may elect to subject themselves and their employees to
amendments to said Law; and
,
WEiEREAS, one of the steps in the procedure to amend this contract is the
adop[ion by the legisla[ive body of the public agency of a resolution giving
notice of its intentton to approve an amendment [o said contract, which resolution
~i, shall contain a summary of the change proposed in said contract; and
WH@REAS, the following is a statemen[ of the proposed change: To provide
' Section 20614 (Statutes of 1980; [o prospectively revoke Sec[ion 20614, Statutes
of 1978).
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NOW, THEREFORE, BE IT RESOLVED that [he City of Cupertino ~ives, and it does
hereby give no[ice of intention to approve an amendment to [he contract between
the said governing body and the Board of Adminis[ration of the Public Employees'
Retirement System, a copy of said amendment being attached hereto, as an "Exhibi["
and by this reference made a part hereof.
PASSED pND ADOPTBU at a regular mee[ing of [he City Council of the City
of Cupertino this 6th day of April , 1981 by the following vote:
Vote Members of [he City Councii
AYES: Ga[to, Johnson, Plungy, Sparke, Rogers
, NOES: None
ABSENT: None
ABSTAIN: None
ATTF.ST: APPROVED:
i`3~ v a'Q 1~.
City Clerk M or. City of Cupert
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' ?'.,Y s:h{~ AGT,L',r,[u~'C r.sctc Ci~f.r~ c'^y c~C 1it
,I er.cr:d~nce aritl~ nnd aaL.~ecG 1.n [hc pi:u•.•l.sic,nrs ot Ch^ I'Gb.1_i~: I:r~~tayc~c~Ti._tltc••~.!aC Ln;r bq
ea<i b^_tc*::c~~ th~ Govcrning L:~y of th^ r.coce !'ubllc ~,cenc:;r, ho:r:tn~fc~~' t'cfer.rr..d !'o 00
, P.;e»~rp, sad the Public Enplc~~ees' f,~tirec~nt Syetci, flCt'C~Ild1Ltl ceicrrc.d Co a;: C;~;;top,
' A~r_ac~ ,^.~id Systcro agrce no failowa:
' A. /~Pency herer•it}~ retnins f.he e~rv~cce of tiys.te~~ to p:•s:fnrn Cl.e ti;.l:in[i.er,(;,) r~.t,tcc~;
I by Sectlcu 20461,1. of [h: Public ti.~plo:cco' Y.~zt.tr.ercrC LaN for Clze ~~~a;~oor~ uf c~c.ctt•-
r.ination by [h^ Fazrd of Ad~Autn~rntion of Cb~~ Public f'.,:oln~;;r~' I;~Clr.ec_uC S;o[r.n
of the cuz~tributionn to bc. u?~c1e by A~ct~cy undr. t:ecucy'c coui:xr.c[ v1.~h oa1.c'• ):unrd if
, the benefi[a unc;er said contract aze Saj~;~l(1: ^Cted by u cu ~bi;,r,[ion of benr:fxka olinti~n
ns one of the vertical columne on a[tache.d E::hi.bit A. The t:ce for ench ec~binatio~
' ot neH bencfita ia ohoun at the bottora of tlic recpecCive colu~,z.
D. /~.~ency ~~ill pay $ 1^7,^p to Systca upoa cos~,le[Son of thn ncCuttrtcl vnluiiC:.on,
cuch fee b~ing bnned on ~he nucber of eia?loyce:~ (both acClve rr.d tho.e loavl.nF
con[ributiono on depoelt) f.ucluded isi the va.luatlon and [he t:enberchip cate~orlee
~nd different casbiuatione of I1CN beneflts iavolved.
C. Gny .;nd nll data end infornn[ion reqve~tr.d by Syntc:.~ frc*rn Ac,enc,+• for u:se i? coc~ji-
1nclon of this vrluaUor. shall bc furninl:ed Co Sys[c!n by ~?ancy upon reyur_r.+t by
Sycte~, The actuarlnl [ablea ond procedutes to be uo^_d in c}•~~ vnlentfon et~~ll 5c
in .:ecordsnce Hith the tables npproved by eaid Eoard of Adai.stiotrntl~.~. Syatea ahnll
havc s.ole control of th~ valuation snd 1ta j~nlE~en[ in [he deteminr.[icn thcrcof
nliall be finnl and cor~clunive, All wozk ehec[a and tSnal rc;ulte and reporta, the
produc[ of [he valua[Son, ahall be aad remain the property of Cl~c SycCCm,
{~icncss our hands [he day and year first nbove vtitten.
PUBLIC r2~LQYEES' ItE'CIREPtENT SYSTEH CITY CF CUCEf?TI`:0
BY BY
CARL J, B1.ECNINGG&, EXECUTIVE OFFICER
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