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Home My WebLink About2005-05-24 - ORDINANCES - CALPERS CONTR (2)ORDINANCE NO. 05-5 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SANTA CLARITA, CALIFORNIA, AMENDING THE CONTRACT BETWEEN THE BOARD OF ADMINISTRATION, CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE CITY COUNCIL, CITY OF SANTA CLARITA THE CITY COUNCIL OF THE CITY OF SANTA CLARITA, CALIFORNIA, DOES HEREBY ORDAIN AS FOLLOWS: An Ordinance of the City Council of the City of Santa Clarita authorizing an amendment to the contract between the City Council of the City of Santa Clarita and the Board of Administration of the California Public Employees' Retirement System. SECTION 1. That an amendment to the 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 amendment being attached hereto, marked Exhibit, 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 said Agency. SECTION 3. This Ordinance shall be in full force and effect thirty (30) days from its passage and adoption. SECTION 4. The City Clerk shall certify to the passage of this Ordinance and shall cause the same to be published as required by law. PASSED, APPROVED AND ADOPTED this 24`h day of May, 2005. MEMO, Ar, y 10 •ft ATTEST: CITY CLERK STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) ss. CITY OF SANTA CLARTTA ) I, Sharon L. Dawson, CMC, City Clerk of the City of Santa Clarita, do hereby certify that the foregoing Ordinance No. 05-5 was regularly introduced and placed upon its first reading at a regular meeting of the City Council on the 26h day of April, 2005. That thereafter, said Ordinance was duly passed and adopted at a regular meeting of the City Council on the 24`h day of May, 2005, by the following vote, to wit: AYES: COUNCILMEMBERS: Ferry, McLean, Weste, Kellar, Smyth NOES: COUNCILMEMBERS: None ABSENT: COUNCILMEMBERS: None CITY CLERK STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) ss. CITY OF SANTA CLARITA ) CERTIFICATION OF CITY COUNCIL ORDINANCE I, Sharon L. Dawson, City Clerk of the City of Santa Clarita, do hereby certify that this is a true and correct copy of the original Ordinance No. 05-5, adopted by the City Council of the City of Santa Clarita, CA on May 24, 2005, which is now on file in my office. Witness my hand and seal of the City of Santa Clarita, California, this _ day of 20_. Sharon L. Dawson, CMC City Clerk By Susan Coffman Deputy City Clerk Ca1PERS California Public Employees' Retirement System EXHIBIT AMENDMENT TO CONTRACT Between the Board of Administration California Public Employees' Retirement System and the City Council City of Santa Clarita The Board of Administration, California Public Employees' Retirement System, hereinafter referred to as Board, and the governing body of the above public agency, hereinafter referred to as Public Agency, having entered into a contract effective November 14, 1988, and witnessed October 20, 1988, and as amended effective August 14, 1992 which provides for participation of Public Agency in said System, Board and Public Agency hereby agree as follows: A. Paragraphs 1 through 11 are hereby stricken from said contract as executed effective August 14, 1992, and hereby replaced by the following paragraphs numbered 1 through 11 inclusive: 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 55 for local miscellaneous members. 2. Public Agency shall participate in the Public Employees' Retirement System from and after November 14, 1988 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 and to all amendments to said Law hereafter enacted except those, which by express provisions thereof, apply only on the election of a contracting agency. 'UA :_t LlUI ICU 16;U!'J "tl�hlbi [ ONLY11 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 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 percentage 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 21354 of said Retirement Law (2% at age 55 Full). 6. Public Agency elected and elects to be subject to the following optional provisions: a. Section 20938 (Limit Prior Service to Members Employed on Contract Date). b. Section 21024 (Military Service Credit as Public Service). C. Section 21574.5 (Indexed Level of 19,59 Survivor Benefits) 7. Public Agency, in accordance with Government Code Section 20834, 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 20834, and such contributions hereafter made shall be held by the Board as provided in Government Code Section 20834. 8. Public Agency shall contribute to said Retirement System the contributions determined by actuarial valuations of prior and future service liability with respect to local miscellaneous members of said Retirement System. 9. Public Agency shall also contribute to said Retirement System as follows: a. Contributions required per covered member on account of the 1959 Survivor Benefits provided under Section 21574.5 of said Retirement Law. (Subject to annual change.) In addition, all assets and liabilities of Public Agency and its employees shall be pooled in a single account, based on term insurance rates, for survivors of all local miscellaneous members. b. A reasonable amount, as fixed by the Board, payable in one installment within 60 days o; 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. 10. 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 on account of the experience under the Retirement System as determined 'by the periodic investigation and valuation required by said Retirement Law. 11. Contributions required of Public Agency and its employees shall be paid by Public Agency to the Retirement System within fifteen 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 squired of any employee may be made by direct payments between thCrnployee and the Board. B. This amendment on the day of BOARD OF ADMINIS,,rFTION CITY COUNCIL PUBLIC EMPLOY�I�E'S RETIREMENT SYSTEM CITY OF SANTA CLARITA A ,.1 l.1\J 1�1 BY_ r<t� BY LORA ARTLAND, ACTING CHIEF PRESIDING OFFI,O ` ACRIAL & EMPLOYER SERVICES DIVISION =y PUBLIC EMPLOYEES' RETIREMENT SYSTEM �S _'.Wiitr)ess Date sem. Attest: Clerk AMENDMENT ER#1468 PERS-CON-7028 (Rev. 8102)