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CC Resolution No. 5759 . • ~ ` RESOLUTION N0. 5759 A RESOLUTION OF INTENTION TO APPROVE AN AMENDMENT TO CONTRACT BETIJEEN THE BOARD OF ADMINISTItATION OF THE PUBLIC E~~LOYEES' RETIREMENT SYSTEM AND THE CITY COllNCIL OP THE CITY OF CllPER- TINO WFiEREAS, the Public Employee's Re[irement Law permits the participation of public agencies and their employeea in the Public Employees' Retirement System by the execu[ion of a contract, and sets for[h the procedure by which said public agencies may elect to sub~ect themselves and their employees to amendments to said Law; and WNEREAS, one of the ateps in the procedure to amend 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 con[ract, which resolution shall contain n summary of the change proposed in said contract; and ' WHEREAS, the following is a s[atement of [he proposed change: To provide for a formula change from 1/2 @ 55 Modified to 1/2 @ 55 Full Formula and a 2X @ 60 Modified to 27 @ 60 Fuil Formula due to Social Security termination and to provide Section 20024.2 (One-year final compensation), for local miscel- laneous membera only. NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Cupertino giveA, and it does hereby give notice of in[en[ion to approve an nmendment [o the contract between [he said governing body and the Board , of Administration of the Public Employees' Retiremen[ Sys[em, a copy of said amendment being attached hereto, as an "Exhibit" and by thie reference made a part hereof. PASSED AND ADOPTED at a regulnr meeting o[ the City Council of the City of Cuper[ino this day of NovPmhrr , 1981 by the foilowing vote: Vote Members of the Citv Council ' AYrS: Gntto Johnson, Plungy, Rogers, Sparka. NOES: None AIISENT: None ABSTAIN: None ATTEST: APPROVED: • ~ -1 ~ City Clerk Mayor, City of pertino . ~ ~ RR~(1L~f^T~N (1P TFTr°'^I0~ TO ~PF'?OVF. AN ~ ArtFFJA~!R~;T T~ ('~tt^'RA~?' AFTWT'R~l TNF A(~ARD OF AllNIp1S??tA?'fnv nu mNF " PllPLIC F•1dPL0YEFn' RRTIRR}tRNT SYSTFH AI4D THF CITY COirrir,IL OF T!tF CIT~ OF CUPERT.lNO KI~~'RFAR, ~.hp PuDli~ ~'rt'j`lo,y~~!tl' T~^t.lrrm~nt I~nu prr~itH t.ha pnrticipetion of rublic ~r~n~i~n pnd t.heir ~rorloyeF. in the P11U1~C I'lllj!lOJPP~~ Retir~m^nt ~y:~t~t~ ~y Lhe ~x~~ution of A contrnet, nnA e~t.e forl,h the pror,~durp h,y which eefd publie ~Rrnr.l~e tnny elect to eub1eot them- nPl~ea nnd their amploqPee to omendmPnUe lo nnid Lax? ~nA MF{F,RFAS, on~ of t.he NI.~f7P in lha prncenurr i,o ~n~nd LMe contrnct ie tha n~ionfi.on hy thP lPpinlnf,ivr hody o° f.hr rublir. npPnry of 4 rPeolu- klon pivinF noticN o+' ite in~.Pnt.ion f.o npprove nn smc~ndmPnt !o e~id r.ontr^~t, vhi~h rPeolut.ion ehnll contrin n eummnrv of LhP ~henae ~TOnON~~ in enid contrAr.t; nnd HHFRFAR, ~.h~ rollcwin~ le n etet.pmnnt of thP prpront~d ehnnp,A: '"o p*ovi~i~ *o~ a tortnuln rthnnn~~ from t~2 ~~5 nodifi~d to 1~2 ~ 5F Full Formul~ nnd n 24 60 Tto~ii~f~d t.o ~ 60 Full Fnrn~ula dup ?.o Socinl rdcu*i6.y lprm.nntion nn~i to prov;~iA Section 2U024.2 ' (~ne-year finel aempenenlionl, for locel mier.el- lnnhoue mrr~prre only. IPOM, TxFa~r•na~, RT~' 1T T+r^OL~RA, t.h.f, t.h~ ao~a~•nin~ Dodv of the nbove ngenc~ pivrn, nnA 11. donn hPreb,y p,ivr nottrp of int~ntion to aporove an nmendmAnt to thn cont.rneL bo~.vnr.n th~ r~id rtovPrninR body nnd thn Poard o" Adminielrntion of t,hk Public ~;mplo,yces' Aelirn~eent 9yetPm, n c~po o° u~Ld nn;andmnnt b~~ina rElpchPd hcreto, ne na "Rxh1Mt" end by thie rPferpn~P maAp n pnrt hprPof. F1f ~/v ' , 11AHR, .c_..,.~--~_./ TITLB //-/(o-!i D•lr pAopl~~1 AnA npproead RoE. Form 122 . • ~ • CERfIFICATION OF GOVERf11NG BODY'S ALTION i hereby certify tha[ the foreqoinq is a true and correct cooy of a Resolution adopteA by the City Council ' (Governing Body) ~ of the Citv of Cupertino (Name of Publi~ Age~~y) ' on _ November 16 1981 - , appearing at Pagc (Datc) ~ Volume - of the (Minutes) (Officiai Records) of the ^ -_Citv Council (Governing Body) - l~~~ C IT CLEP,K or Secretary of the Board PERS-CON-12 (11;77) ~t ~ ~ ;,.x t y~ { Sacramento, CA 95909 • • CF.RTIFICATION QF COMPLiANCE WITH GAVERNHENT CODF. SECTION 75~7 I . ~ I nereby certify that in accordance wltn Section 7507 of tne Government ~ Cude the Cuture annual ccsts as determined by the System AcLuary ~ave been ' made public at a public meeting by the City Council of (FoverninR body) Citv of Cupertino at least tWa weeks prior to the adoption (public agency) of the increase in public retirement plan benefits as provided by Sectfon 20024.2 , Final Compensation Average (opttonal benefit) Date: 12/10/81 ~~Y ' origin~l aturc Mayor official title PERS-CON-12A (1/AO)