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Home My WebLink AboutOrd 0980ORDINANCE N0. 980 AN ORDINANCE OF THE CITY COUNCIL of the Name of Governing Body CITY OF' BURLItJG4B authorizing an Name of Public Agency P14ENDMENT TO THE CONTRACT BETWEEN THE CITY COUNCIL Governing Body AND THE BOARD OF ADMINISTRATION OF THE CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM. The Ciltv Council of the City of Burlin ame Name of Governing Body) Name of Public Agency does ordain as follows:. SECTION 1, That an amendment to the Contract between the Cit Name of Council of the City of Burlingame and the Board of Governing Body (Name of Public Agency Administration, California Public Employees' Retirement System is hereby authorized, a copy of said amend:::ent being attached hereto, marked "Exhibit All, and by such reference made a part hereof as though herein set out in full. SECTION Z. The MAYO R of the (Title of Presiding Officer City Council is hereby authorized, empowered, and directed (Name of Governing Body to execute said amendment for and on behalf of said Agency. SECTION 3a This Ordinance shall take effect _� days after the date of its adoption, and prior to the expiration o£ is days from the passage thereof shall be published at least once in the ADVINCS-STAR Name of Newspaper a newspaper of general circulation, published and circulated in the Name of CITY OF iBUR LINQkME and thenceforth and thereafter the same Public Agency) shall be in full force and effect. Adopted and approved this Attest: Clerk PERS-ACT-11 (Amendment) (g/%1) ?-8t'rs day of 'February , 19 73 . may STATE OF CALIFORNIA—BOARD OF ADMINISTRATION RONALD REAGAN, Governor PUBLIC EMPLOYEES' RETIREMENT SYSTEM 1416 NINTH STREET, P.O. BOX 1953 SACRAMENTO, CALIFORNIA 95809 March 7, 1973 Mr. Herbert K. White Finance Director�City Clerk City of Burlingame City Hall --501 Primrose Road Burlingame, California 94010 Please Direcf Your Reply to Section OZO Refer to Member A«Dunt amendme to The %ontractn etT•reen your agency and the Rablic Em�loyeesL Retirement System has been executed by our office, 17e are enclosing a copy of the executed contract for your files. i• `IiiSUK Yl�T1Ci /' ACTUIsRY Enclosure PERS-ACT-2 �1 x t • e' a�� " • - • • X91 -7 `#. tJl � ' l IJ CITY COUPtCZL �� THE CTCY OF FURLSNGAMB the Baard of Administratian, Public �5aploy®esu Ret3.rement System,herein.tifter referred .to as Board, and the CITY GOUt:CIL of the CITY OF BUF.LifiGAi9E, hereinafter referred to as Public AEancy having entered into a cantract Zander date of July b, 1942, effective July 3, 1942, and as azuended effeetive Februa,.a� 1, 1954, July l� 195, April 1, 1963, 2iarch 1, 1964, April 1, 196$, F;areh 16, 1967, November 1, 19613, and Septemhc-;r 1, 19%0, axzd as provid�t by Chapter 31b, Statutes of I97]., rich provides for participation of Public Agency in said System, Board and Public Agency hereby agree as folletrrs s ., • :., • r . .. a rasa. . rr t . a- i as ♦ a •- • ' air a. •. _ s a s. , _ .. • � r•.,s. .. s a ♦.. r s ata • .�,. • ♦. •sr • a..... -, a ,. ,. •. ... ... � .* •._ a. �.. :r �• .t a � .. .. ;i ..r .. gin. - j : s -r a=: _ as - riar.- •H:, 'k EXCLUI3E PLAYGROtnil? LFsADER5 HIRED CN OR AFTER hiAiiCH lb, 1967 'N'?i0 ARF: PAiD OK AN HOURLY BASIS. �cLunE PGLICE CA�Fs<rs HSI aN ox. AFTER .Cx 1b, 1967. E%CLUDE LIBRARY PAGES HIRED ON oR AFT'i�rR h�ARCx 16, 1967. est. Form 702-1 t�. The fraction of final compensation to ba provided Por each year of credited prior and currant service as a misDellaxaeous meember upon retirement at no�,al. rat:erettant aga shall ba applied as provided in Seetian 21251.13 of said Rotirc�nent Law. 5. The fraction of final compensation to be provided for each year oP credited prior and Durrant service as a local safety member shal]. be determined 5.n accordance with Section 21252.1 0.? the RatiraT�ent Law, 6, Contributions for miscellaneous and local. safety members steal]. be subject to SeDtions 20603 and 20bg2 respectively, of said ietirement Law. 7. The following additional provisions of the Publi��.�ployaes� Retirement Law which apply only upon election of a contracting agency sha11 apply to the Public tgency and its e.eploy2esa a. Section 20952.5 (providing for a;a 50 as the minimum volauatary retirement aga for local safety members with benefit payments Dommencing prior to age 55 subject to actuarial discount). b. Section 2138q-7 (providing for allowances for survivors of members covered under the program upon d.aath before retirement). c. Section 2126k (providing u_ren death of a local safety member who retired for service or disability for the Dortinuation of one—ha7.P the retirement allowance to certain survivors). 8, Public Agency shall contribut® to said retirement System as fo]1aws: a. Edith respect to miscallarsous members, the agency steal]. contribute the following percentages of monthly salaries earned as tni.acella- nexus members of said Systema (l) 0.59 percent until June 30, 1980 on account of the liability far prior service benefits. (2)• 7.6$ percent an account aP the la.abilaty Por current service benefits, said parDantaga being fixed by 5ectian 20750 oP the Retirement Law. (3) 0.1x6 percent on account of tho liability for the 1959 Survivars program. b, With respect to local safety members, the agency shall contribute th® Poll:owing percentages of monthly salaries earned as local safety members of said Systema (1} 5.997 percent anti]. June 30, lcj/1a on account of the liability for prior serrrlDe benefits. (2) 15.521 percent ozx aceoauat aP the liability far current service benefits. (3) 0.120 percent an aceourkt oP the liability for the 1959 Survivore program. Rat. -Form 702 2 reasonableso A cover the costs a... -s .: Public of administering :„• System ,. affects s employees st including the costs of special periodical f. A reasonable amount as fixed by the Board, payable in one install� ment as the occasions arises to cover costs of special valuations on account of employees of Public Agency$ and costs of the pericdl� investigatlon and valuation required by law* 90 Contributions required ♦ �a be s subject to adjustment by oar on ♦ of amendments a the Public Employees' and ♦ account Retirement System as determined by the periodical investigation and valuation required by said Retirement Law. 10* Contributions required of Public Agency and its employees shall be paid by Public Agency to the Retirement System within thirty days after k end of period + which said eortributions refer. Ifmore less than the correct amount of contributions is paid for any periods proper tment shall in connection with subsequent remit� tancess �.. adjustmenton of ♦- - in contributionsrequired of any employee may be made by direct cash payments between the employee and Board. a - by Public Agency to Board may be made 3'.form of warrants, bank checks) bank draftes certified checkss money orderss or cash* i3. This amendment shall 6e attached to said contract and shall tie effective on the 1st - day of April, 1973 -73 Witness our bands this � j f� day of � � �' ��” /,c./ i ul - ♦ X19► , i BI 'JI William Ea Payne,, Exe utive 9fficer s t i i fly L L" ti �/�, / Presiding Officer 7 > � y k'M