HomeMy WebLinkAbout3240_CCv0001.pdf RESOLUTION NO. 3240
RESOLUTION OF INTENTION, TO APPROVE AN
AIENDIMNT TO CONTRACT BEM'IEEN THE
BOARD OF AD7MNISTRATION' OF THE
PUBIC EMPLOY ESS' RETIRE=MT SYSTETM
AND THE
CITY COUNCIL
OF ME
CITY OF REDLkINDS
WHEWREAS, the Public Employees' Retirement Law permits the participation of public
agencies and their employees in the Public Employees' Retirement System
by the execution of a contract, and sets forth the procedure by which
said public agencies may elect to subject themselves and their employees
to amendments to said law; and
�ME311-ak S, one of the steps required in the procedure to amend this contract is
the adoption by the legislative body of the public agency of a re:3olu-
tion giving notice of its intention to approve an amendment to said
contract, which resolution shall contain a sum:m- ry of the changes pro-
posed in said contract; and
WHERTAM, the purpose of the proposed amendment is to change the benefits,
retirement age and contributions for local safety members from those
provided under and with respect to Section 21252.1 to those provided
under and with respect to Section 21252.01 of the Governnent Code.
WHERaM, attached is a su=-ary of the major provisions of the plan as proposed
to be amended.
N9N, THEREFORE, BE IT RESOLVED, that the CITY COUNCIL of the CITY OF REDIDNDS
gives, and it does hereby give, notice of intention to approve "an
amendment to contract between said CITY CO OIL and the Board of
Administration of the Public 1,;mployees' Retirement System, a copy of
said amendn�ent and a summary of the major provisions of the pro-posed
charges being attached hereto, marked Exhibits "Aft and "B" and by
this reference made a part hereof.
CITY COUINC11'ri
OF THE
CITY OF'137-DLANDS
Mayor
(Title)
April 6, 1976 _
(Date adopted and app7;vej3
Ret. Form 122
EXHIBIT A
At=I iMTT TO CONTRACT BE74
BOARD OF A_DI,iI.II S`-RA I0N
�. PITI3T,IC Z�2�,CtYES R:,;T1RE1aXSYSa.EE"I
AND THE
CITY Con, CIL
k. x OF ' E
CITY OF REDLANDS
The Board of Administration, Public Employees' Retirement System, hereinafter
referred to as Board and the CITY COUNCIL of the CITY OF =!,UID S, hereinafter
referred to as Public .Agency, having entered into a contract oder date of June 1,
1945, effective July 1, 1945, as amended effective January 1, 1953, August 19 1956,
March 1, 1957, JaLnuary 1, 1960, Augm st 1, 1961. Janizary 1, 1969, August 16, 1.969,
May 16, 1973, April 25, 1974, and September 22, 1975, and as provided by Chapters
174 and 316, Statutes of 1971, which provide for participation of Public Agency
in said System, Board and Public Agency hereby agree as follows.
A. Paragraph 1 shall be stricken from said contract and the following
Paragraph I shall be substituted therefor:
1. All words and tejm, used herein which are defined in the Public
Employees' Rei it ement Law shall have tdhe mew.,ing as defined lex ul xl
unless otherwise specifically provided. "Normal retirement age's
shall mean age 60 for miscellaneous members and age 50 for local
safety members.
E. Sub—pa_-agraphs 5 (a) and 5 (b) shall be stricken from said contract and
the following slab-paragraph 5 (a) shall be substituted therefor:
5. (a) The fraction of final compensation to be provided for each year
of credited prier and current service for local safety members
shall be that provided in Section 21252.01 of the Government
Cade.
C. Paragraph 6 �b) shall be stricken from said contract and the following
Paragraph 6 b) shall be substituted therefor:
Ret. Farm 702--1
6i.. (b) With respect to local safety members, the public agency shall
contribute the following percentages of monthly salaries earned
as local safety members of said System:
(1) 0.046 percent until July 1. 1976 on account of liability
for prior service benefits.
(2) 27.329 percent on account of the liability for current
service benefits.
(3) 0.430 percent until May 31, 1983 to Provide the benefits
under Section 21222.1 of the Government Code.
D* This amendment shall be attached to said contract and shall become
effective on the day of
Witness our hands this clay of
BOARD OF ADZINZISTRkTION CITY C9JNCIL
=IC ELTILOYEEES I RETIRE�UMT S YSTMA OF THE
CITY OF-REDLAIMS
BY
Carl J. Blechinger, Executive Officer Pres'di f iMr
kpproved as to form:
Ret. Form 702-2
EMJIBIT B
Qcs;,l Safcty Me'.-.-J:,cri a 50
Retirement progral�'-L
MeMership is corynMory for all employees , othnr thri civ ation affieWs , Y
are ewploycd one-half time or tore encept Chosc Llike, ccntrnct.
SERVICE TITIRMANT
The earliest retirement age is 50; the normal retiremant age is 50 ; an6 the
campulsory retirement age is 60 . A local safety Membcr Ei�y Teti! ' Lily
age 50 provided he has at 1r,,ast 5 years, of t-,rvice.
The monthly Mccae is datermined by age at rat iroment, years of craditud vervine,
and "final compansution". The lartnr term means the avcrags monthly salary
overtime) earned durin; the final 36 consccutive MontO tn'lC:P'S spC-O" fically
requests anoth-er 36 consecutive tionth pc�riod.
Thc- ugimodified life allowance will be "21 of final cotn?,, cnsntlon" for cFc.1h year of
rafety service upon retirement at nqe 50 with incressiall percraitavos to a manimum of
2.7% at retiremcno at age 55. Service retirnmenr benefit is subject to a limiontica
of 75Z of final co--pensation.
A miiAlxrtum service rctiremcnt allownnce of $100 per ino-ntlh is )oL
uaranteed u,
compulsory retirement with credit for prior servive.
DISABILITY YETTREWT
Jul cinployea becoming disabled to the exnent that he is i-nca?able of plrfoyminq,
his duties shall be retired for disability. His disability will be either emplaymcnt
connected (industrial disability) or otherwise (noaindu-striai diszibiliq) .
An employee who bccomes disabled i,:Iiile a member of this, System for ronsol's
arising on of his employment, will be eligible for a life incotrlc of fifty (50A Qr-
cent of his final compensation. If iris disability is such that W is also en;Uled
to a disability income from Social Fecurity , the State System, benefit u-ill be recluced
by the-, amount of his Social Secarity benefit.
An employee becoming d1sabRd for rMsons not connected with bis ewploymn= shalli.
be eligible for disability retiroment provided ho Us at least 5 years of service;
such disability allowance is oqual to 1.8Z of final compensation for each year of
servicel with a guarantee of 1/3 of such Mal MmPensation Ur most employecs Wo ha_v1z_:
rendered at least 10 years of service. The "or&nary" disability retirencnt allavanw�
shall vad2r no circunstances onceed the servico rctircmeat allowance which wouid
become payable at age 60 if employment could be continued to that age.
DEATU BENEFITS
Death B 'WremM
Basic Death Benefit Mis bencUt is a refund of the
contributions plus six months ' salary provJdcd h,17, has, b�:aI4 a
for six-yanrs or more. For those vlo die hefni:c, ycars
of mambership , WQ benefit is one month 's Wary Or each yuar o-_
rnerlljerw31ii,p rafund of contributions . Tne Mary rcKrrcd to is
that earned during Lhe yenr preen ding death. Pr_-Ur s, rvicc joos not
count toward this Knefit.
Industrial Death If death is Pervice-connectud jjj thn pul,:Int , i:11-:1
Industrial Accident CoTmission, a ?" :'t " 3 Cs,.._. :-'s pid 'Lo tile PPOIAIC,
for life (or until remarriage) luo' cad o: the e,-: Luh
benefit. However, if also eligi,,5r so
3_c� ;:orvJbcric
-vor .fit:s
Social Security because of the tho stte
banefiL will be redUCCd ii i' the MOYM Of SUCh SOMI SeCUNLY SO Kug�
as Social Security benefits are payahlc (uzually UnLil the younZwst
child rcaches Is. The total,
including Social socurity, yould be 502 of "finnl compensation". if
death was cnuscd by enuornal violence or P 'Ysical force! th,_ tr"t-al
benefit (including Social Mcaril) vould ba increancd to thn follow-
ing parcentagns of "final so jon9 ; thostouliva_s
and do-aa not rc-marry:
Spouse with 3 or roue ceoildruu candor IS 75X
Spouse UK 2 children under 18 70,1
Spouse with 1 child undcr 13 62111'
1957 Survivor raoefit EmployQcs with 5 or more years of nervice v-1ho '-_a-ve
reached dic minimum Pk e for service Mireroat have furthcr e2ou'll
Protaction under this RCM. Here the surviving SPOUP0 col Cloct 00
receive either the basic do t > benefit or a monthly income equal no
one-half the unmDdified retirement allowance tbr.-� employee el_" -jhjc
for on the date of his dcath . The montlily lants until tV�,
spouse's death or remarrin, with a guarantee that the Systcm will pay
as I-ruch as under the basic 6aaUi beni�fjt.
. .
Death After Retirement
The death benefit is $500. This is in addition to any payments wh ch
might be made under an optional retirement benefit chosen by the
Taember at retirement.
One-half Continuance provides upon the death of a local safety memnber who
has retired for service, or disability, for the
continuation of one-half the retirement allowance to certain survivors.
TERMNATION OF EMPLOYMENT
Upon termination of employment, an employee with at least 5 years of service may
either Leave his contributions with the System and receive, upon attaining retirement
age, the retirement benefit he has earned, or he may withdraw his contraibutions (plus
interest) , thus terminating his membership in the System and receiving no retire=m-ent
benefits. Except, (l) a member with less them 5 years of service shall not have the
privilege of leaving his contributions with the System, but shall automatically have
his contributions, plus interest, refunded upon termination of employ-zelit, and (2) a
member who is transferring to employment with another agency which is covered urder
the System skull not have the right of withdrawing his accumulated contributions.
EMPLOYEE CONTRIBUTIONS
Each mc-mber makes mo thly contributions to the System which are deducted from his
salary. The rate of contribution (percentage of pay) is 9% of salary earned,
exclusive of overtime, on the date this formula becomes effective.
The employer also contributes toward the cost of the benefits. The amount con-
tributed by the employer for current service retirement benefits will, on the average
exceed the cost to the employee. In addition, the employer bears the entire cost of
prior service benefits.
employer
AU/contribution rates are subject to revision by the Board of Administration.
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