HomeMy WebLinkAbout3101_CCv0001.pdf RESOLUTION No. 3101
IRIESSOVilV101TV OF INTEWT� 101'i TO APP7--OVY, A'N
uh,11LAfi-MI `110 B1ZTwE1E__1N4 i_M�H.s
BCAPW OF OF THE
PUBL10 0VIPLOYM!'21 _F1ET_1'1PME7rTT 'SYSIPma A11D, THE
CITY COUNCIL
moverning Body",
OP THE
CITY OF REDLANDS
k
m'Nae of Public Agency,
the pal-ticipation �-.�f public
wmm-,r_As, t'Tie kablic '&_�Ployeesl I.ietirement Law permits
agencies Pmd their employees in the pubic NTap-10gees, fi"e—remen1stem
by the execution of a contract, and stjt� "L"orth the or-acedure bv whioh
said public agencies may elect to smoJect themselves axid their emplofir ,,es
to amendments to said Iswvy; and
b
WFM2A S one of Full-eps I'n the proc,,dur nateiM this c=,tract ia the adop-"on
by the 13g dative body of the publJe a,,,-
-ncy of a reau'ut"On g1vJng
- ntion -o approwe an -a:tenadm4ent to aaid conty-act, which
notice of its ine
t
resolution sh-all contain a auumn-ary of the changes propostd in Paid
contract; and
EkS, the following is a �tMement of the proposed Change:
Ratirement allowanceto whicdL 'Une annual Co;et-,)f-l_1Vir4 prov,,4_SJ04,8 apply,
Payable for time comenning on ryGha fi_-st day of the calendar montii coir,
ciding, w-ish or next follow-;UW the effective, date olf this smendr.,aenl to or
on account of persons refired or mernbers deceased on or after January
197' but efore Jl-,-.J.y 1, 107- 9 ase hereby increased by
Y I UU i EA S estimate of the cost or snich charip
I � _,e for the Dublic agency ia set forth
in a copy of the va-luation report attacche=d he.retl;o, war ed "Exhibi- 0
and b,%Y, this ref--rence incorporaved Into -U hle amendment as though therei-a
se,111" out in full.
NOW of --he city of
TF- EFORE, BE 1T RESOLVED$ that the Citv Council
'Gove-- -ing Body) of
Redlands
gives. and it, hereby gives rwtice oll". intention to approve
Publi-c Agency)
an aj.,,end-merit -to the cont_-�ict bet-'weari. th-e City of Redlands
ming Body
ov
and the Board of Adm?inist.-,ation of t1le PaoiiaEmployees' RetixemKent
System to accom-pli-sh tree above
City Council of the
city of Redlands
me oar Public Agnc,)r)
By-
Mayor
Fy 5,ebruar1974 (Ti
"A t
�,
k,, e adopted and approved)
EXHIBIT A
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
ACTUARIAL VALUATION TO DETERMINE COSTS
UNDER S8 1113, CHAPTER 1 123 (1973)
(5 Increase)
AGENCY NAME: and*
AGENCY NUMBER:
DAT E: J&M=Y'. lit
LUMP SLAM PAYMENT FOR LUMP SUM PAYMENT FOR
MISCELLANEOUS MEMKRS SAFETY MEMB RS
PUDLIC EMPLOYEES' RETIREMENT SYSTE111
P.O. Box 1953 (1416 - 9th Street) DATE: JANUARY 16, 19711
sacra"e9to, CA 95309 C I RCU LAR,
TO: AGENCIFS CONTIF CTIPG WITH THE PUBLIC LETTER
EKPLOYEES' RETIALMENT SYSTEM WITH UWASER.:
RETIREMENTS EFFECTIVE I/l/A through 6/30/71 DISTRIBUTION: SPECIAL
MJECT! MATE BILL 1113, CHAPTER 1123 (1973) 51 ALLOVAOCE INCREASE
Senate Bill 1113, Chapter 1123, Statutes of 1973, provides that monthly
allowaoccn paid with respect to persons who retircd or membcrs deceased on or
after January 1 , 071 but before July 1 , 1971 are in-creased by - 0
A . This bill
is an exuension of Senate Bill 135, Chaptar 1413, Statutes 1912, Which Pro-
vided that monthly allowances paid with respect to persons retired or members
deceased prior to innuary 1 , 1571 were incrcased by 51 for local members with
respect to whom allowances wero being paid on the =_ is date of the contract
amendment which included the benefit . Similar to Senate Bill 135 (1972) , Senate
bill 1113 ( IS 3) is not mandatory for coat racting agencies but is an optional
feature.
An agency that is considering amending its contract to be subject to the
allowance increase for persons retiring between January 1 , 1971 and June 30, IC71
will ?robably want to also consider amending to be subject to the provisions of
SG 135 if the agency has not prey iodsly omcnded.
The contract must be amended in the usu8l manner and the increases provided
by both Chapters are applicable to both miscellaneous and safety members and the
increases will apply only to payments commencing on or after the effective date
of the amendment .
We are enclosing, in duplicate, a Revolution of Intention to approve an
amendmcnt to contract to provide the Q increase of S8 1113. Attached to the
Resolution of Intention as "EMbit A" is a copy of the valuation results.. Your
governing body shavid return one complete executed set to this System if the
enclosed Resolution is adopted. (A Resolution of Intention and the results of
an actuarial valuation for SB IS were mvilcd to you last February.)
Upon receipt of the executed Resolvtion of Intention and attached exhibit ,
this Systa" will fovyard a revoiutioa authorizing the proposed contract ameniment
and other docunants pertinent to the amendTent. Cities and counties must adopt
by ordinances which do not become effective until 30 days following the final
reading, Emorgency ordinances are not acceptable for contract amendment purposes.
Effective date of the amendment must be the beginning of a payroll period
subsequent to the above actions and whenever possible should coincide with the
of the allowance increases,
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