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HomeMy WebLinkAbout1988-10-13 - ORDINANCES - PERS CONTR (2)ORDINANCE NO. 88-42 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SANTA CLARITA AUTHORIZING A CONTRACT BETWEEN THE CITY OF SANTA CLARITA AND THE BOARD OF ADMINISTRATION OF THE CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM THE CITY COUNCIL OF THE CITY OF SANTA CLARITA DOES ORDAIN AS FOLLOWS: Section 1. That a Contract between the City Council of the City of Santa Clarita and the Board of Administration, California Public Employees' Retirement System is hereby authorized, a copy of said Contract 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 Howard P. "Buck" McKeon of the City Council is hereby authorized, empowered, and directed to execute said contract for and on behalf of said Agency. Section 3. This Ordinance shall take effect 30 days after the date of its adoption, and prior to the expiration of 20 days from the passage thereof shall be published at least once in the Newhall Signal, a newspaper of general circulation, published and circulated in the City of Santa Clarita and thenceforth and thereafter the same shall be in full force and effect. PASSED, October APPROVED, AND ADOPTED this 13th day of 1988. - Howard "Buck" McKeon Mayor I HEREBY CERTIFY that the foregoing Ordinance was duly adopted by the City Council of the City of Santa Clarita at a regular meeting thereof, held on the 13th day of October 1988, by the following vote of the Council: AYES: Councilmembers Boyer, Darcy, Heidt, Koontz, McKeon NOES: Councilmembers ABSENT: Councilmembers _ Arge ravalho (�/— City Clerk CONTRACT BETWEEN THE BOARD OF ADMINISTRATION PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE CITY COUNCIL OF THE CITY OF SANTA CLARITA In consideration of the covenants and agreement hereafter contained and on the part of both parties to be kept and performed, the governing body of above public agency, hereafter referred to as "Public Agency", and the Board of Administration, Public Employees' Retirement System, hereafter referred to as "Board", hereby agree as follows: 1. All words and terms used herein which are defined in the Public Employees, Retirement Law shall have the meaning as defined therein unless otherwise specifically provided. "Normal retirement age" shall mean age 60 for local miscellaneous members. 2. Public Agency shall participate in the Public Employees' Retirement System from and after making its employees as hereinafter provided, members of said System subject to all provisions of the Public Employees' Retirement Law except such as apply only on election of a contracting agency and are not provided for herein to all amendments to said Law hereafter enacted except those, which by express provisions thereof, apply only on the election of a contracting agency. 3. Employees of Public Agency in the following classes shall become members of said Retirement System except such in each such class as are excluded by law or this r- agreement: a. Employees other than local safety members (herein referred to as local miscellaneous members). 4. In addition to the classes of employees excluded from membership by said Retirement Law, the following classes of employees shall not become members of said Retirement System: a. SAFETY EMPLOYEES. 5. The fraction of final compensation to be provided for each year of credited prior and current service as a local miscellaneous member shall be determined in accordance with Section 21251.13 of said Retirement Law (2% at 'age 60 Full). 6. The following additional provisions of the Public Employees' Retirement Law, which apply only upon election of a contracting agency, shall apply to the Public Agency and its employees: a. Section 20835.1 (Limits Prior Service Credit to Members Employed on Contract Date). b. Section 20930.3 (Military Service Credit), as defined in Chapter 830, Statutes of 1976. 7. Public Agency, in accordance with Government Code Section 20759, shall not be considered an "employer" for purposes of the Public Employees' Retirement Law. Contributions of the Public Agency shall be fixed and determined as provided in Government Code Section 20759, and such contributions hereafter made shall be held by the Board as provided in Government Code Section 20759. 8. Public Agency shall contribute to said Retirement System as follows: a. With respect to local miscellaneous members, the agency shall contribute the following percentages of salaries earned as members of said Retirement System: (1) 0.501 percent until- June 30, 2000 on account of the liability for prior service benefits. (Subject to annual change): (2) 7.350 percent until June 30, 2018 on account of the liability for current service benefits. (Subject to annual change.) b. A reasonable amount, as fixed by the Board, payable in one installment within 60 days of date of contract to cover the costs of administering said System as it affects the employees of Public Agency, not including the costs of special valuations or of the periodic investigation and valuations required by law. c. A reasonable amount, as fixed by the Board, payable in one installment as the occasions arise, to cover the costs of special valuations on account of employees of Public Agency, and costs of the periodic investigation and valuations required by law. 9. Contributions required of Public Agency and its employees shall be subject to adjustment by Board on account of amendments to the Public Employees' Retirement Law, and r^^ on account of the experience under the Retirement System as determined by the periodic investigation and valuation required by said Retirement Law. 10. Contributions required of Public Agency and its employees shall be paid by Public Agency to the Retirement System within thirty days after the end of the period to which said contributions refer or as may be prescribed by Board regulation. If more or less than the correct amount of contributions is paid for any period, proper adjustment shall be made in connection with subsequent remittances. Adjustments on account of errors in contributions required of any employee may be made by direct payments between the employee and the Board. BOARD OF ADMINISTRATION PUBLIC EMPLOYEES' RETIREMENT SYSTEM BY Assistant Executive Officer iW CITY COUNCIL OF THE CITY OF SANTA CLARITA 91 ATTEST: y A --ler C f Public Employees' Retirement System Contract Services Division Contract Office, Section 900 Post Office Box 942709 Sacramento, CA 94229-2709 Telephone (916) 326-3608 326-3000 (Telecommunications Device for the Deaf) CERTIFICATION OF COMPLIANCE WITH GOVERNMENT CODE SECTION 7507 I hereby certify that in accordance with Section 7507 of the Government Code the future annual costs as determined by the System Actuary and/or the increase in retirement benefit(s) have been made public at a public meeting by the City Council of City of Santa Clarita (governing body) (public agency) at least two weeks prior to the adoption of the final Ordinance/Resolution. Date• Y61 7 PERS-CON-12A (Rev. 7/88) C0601 iginal signature City Clerk official title