HomeMy WebLinkAbout2148_CCv0001.pdf RESOLUTION NO. 2148
OF THE CITY COUNCIL
AUTHORIZING AN AliTNDMENT TO THE CONTRACT PROVIDING FOR THE FARTICIPATION
OF THE CITY OF REDLANDS
IN THE STATE EMPLOYEESf RETIREMENT SYSTEM, MAKING ITS EMPLOYEES 11EMBERS OF
SAID SYSTEM
WHEREAS, the Board of Administration of the State Employees' Retirement System
and the CITY COUNCIL of the City of Redlands entered into a contract
effective July 1., 1945, providing for the participation of said
C17T OF REDLANDS in the State EmployeesR Retirement System; and
WHEREAS., said contract provides for the funding of liabilities for benefit.A
based on "Prior service" by annual installment payments by said Agency
extending over a 25 year period beginning on the effective date of
said contract; and
WHEREAS., the amount of said prior service payment has been determined by
actuarial revaluation to be materially larger than previously
determined; and
WHEREAS, it is desirable that the contributions required of said Agency under
said contract not be excessive.- Now, therefore be it
RESOLVED, That said CITY COUNCIL authorize, and it does hereby authorize, an
am=dment' to said Contract, a copy of said amendment being attached
hereto marked "Exhibit Affs, and by such reference made a part hereof
as though herein set out in full.; and be it further
RESOLVED., That the presiding officer of said CITY COUNCIL be, and he is hereby
authorized, empowered, and directed to execute said amendment for and
on behalf of said CITY OF REDLANDS.
ADOPTED this Of 1961.
ATTEST: iW_oFCf the latyyof"e3dTands
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