HomeMy WebLinkAbout3032_CCv0001.pdf RESOLUTION O. 3032
RESOLUTION OF INTENITION TO AP?ROVE AN
t iV - 4'%i ;ACfWt"-
4.E' '". - -0"M61 3 N1 i E
BOARD OF ACA I N I STRAT I ON OF THE
PUBLIC EMPLOYEES' RETIRED EN SYSTEM AND THE
city counci.,
(Governing Body)
DF THE
City of Redlands
(Flame of Public Aq;�ncy)
WHERE-AS, the Public Employ Wes' ketirefr,�nt Law permits the participation of public
agencies and their cmployces in the Public Employees' Retirement System
by the execution cf a contract, --nd sets forth the procedure by which
said public agencies may elect to subject themselves and their employees
to amendaients to said law; and
WHEREAS, one of the steps in the procedure to amend this contract is the adoption
by the legislative body of tha public agency o-if a resolution giving
notice of its intention to approve an am-endment to said contract, which
resolution ::hall co,itain a sum.-aary of the changes proposed in said
contract ; and
WHEREAS, the following is a sta-mrz.it of the proposed change:
Retirement to ;';loch the annual cost-of-living provisions apply,
payable for coirr;-Inciaq on the first day of the calendar month coin-
ciding with or ncuxt the effective date of this amendment to or
an account of perscn� retired or mem'Ders deceased on or prior to
December 31 , iq-/0, are h-areby increased by 5%.
WHEREAS$ the estimate of the cost of such change for the public aqency is set forth
in a copy of the valuation report attached hereto, marked "Exhibit A"
and by this -eference incorporated into the amendment as though therein
-set out in full .
NOW, THEREFORE, BE IT RESOLVED, tntat the CitSr Council — of the City. Of
(Coverning Brady) Came of Public
Redlands , gives, and it hereby gives notice of intention to approve an
Agency)
amendment to the contract between the cit;v, Council
(Governing Body)
and the Board of Ad-iinistration of the Public Employees' Retirement System
to accomplish the abcve change.
City Council. of
(Governing Body)
ci—ty of—Redlands
(Name of Oublic Agency)
By;
(cul Jack 13 . CuTnurnincTs
Ma
yo r
(Title)
March 6, '191,31
ENUTBIT A
rUBLIC 11MLOYEES' _moi TIOEMOT .'YS OT
ACTUARIAL V0,1JI-ATION' TO
UNDER Sa 135, CPAPTO 1613 (1972)
(5Z increase)
AGENCY 'NAME: City of Redlands
AGENCY NUMBER: 78
DATE: FEgRUARY 9, 1973
TudicatO Owirei r0thad of fundinq the liability Or thn incrnawes pith respect
to persons rKiyed or nUlar3 dawmo ! prJor to J!,.muary 3..
M3_SCEL1.IAN31-101-1;s
ST- 3 5 Y7,ARS 10 YTI'l-AR";
$ 51819 1881 .531 .271
SAFETY MEIMER'S
-3 5 Y'FARS 110 yl-f,.Rs
449S4 1,40% .84% .43%