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HomeMy WebLinkAboutReso - CC - 022-2006RESOLUTION NO. 22-2006 RESOLUTION OF INTENTION TO APPROVE AN AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE CITY COUNCIL CITY OF BURLINGAME WHEREAS, 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 WHEREAS, one of the steps in the procedures to amend this contract is the adoption by the governing body of the public agency of a resolution giving notice of its intention to approve an amendment to said contract, which resolution shall contain a summary of the change proposed in said contract; and WHEREAS, the following is a statement of the proposed change: To provide Section 21362.2 (3% @ 50 Full formula) for local police members. NOW, THEREFORE, BE IT RESOLVED that the governing body of the above agency does hereby give notice of intention to approve an amendment to the contract between said public agency and the Board of Administration of the Public Employees' Retirement System, a copy of said amendment being attached hereto, as an "Exhibit" and by this reference made a part hereof. gy "6�� Presiding Officer Mayor of the City of Burlingame Title April 3, 2006 Date adopted and approved (Amendment) CON -302 (Rev. 4/96) Iii,, Ca1PERS EXHIBIT California Public Employees' Retirement System AMENDMENT TO CONTRACT Between the Board of Administration California Public Employees' Retirement System and the City Council City of Burlingame The Board of Administration, California Public Employees' Retirement System, hereinafter referred to as Board, and the governing body of the above public agency, hereinafter referred to as Public Agency, having entered into a contract effective July 1, 1942, and witnessed July 6, 1942, and as amended effective February 1, 1954, July 1, 1956, April 1, 1963, March 1, 1964, April 1, 1965, March 16, 1967, November 1, 1968, September 1, 1970, April 1, 1973, May 1, 1974, November 1, 1974, February 20, 1975, March 16, 1975, July 1, 1976, August 16, 1976, May 1, 1979, December 1, 1985, December 1, 1987, December 6, 1989, November 15, 1990, May 26, 1997, December 12, 2000, November 1, 2001, December 30, 2001, July 15, 2002, June 5, 2003 and July 12, 2004 which provides for participation of Public Agency in said System, Board and Public Agency hereby agree as follows: A. Paragraphs 1 through 12 are hereby stricken from said contract as executed effective July 12, 2004, and hereby replaced by the following paragraphs numbered 1 through 13 inclusive: 1. All words and terms used herein which are defined in the Public Employees' Retirement Law shall have the meaning as defined therein unless otherwise specifically provided. "Normal retirement age" shall mean age 55 for local miscellaneous members, age 55 for local fire members and age 50 for local police members. PLEASE DO NOT SIGN "EXHIBIT ONLY" 2. Public Agency shall participate in the Public Employees' Retirement System from and after July 1, 1942 making its employees as hereinafter provided, members of said System subject to all provisions of the Public Employees' Retirement Law except such as apply only on election of a contracting agency and are not provided for herein and to all amendments to said Law hereafter enacted except those, which by express provisions thereof, apply only on the election of a contracting agency. 3. Employees of Public Agency in the following classes shall become members of said Retirement System except such in each such class as are excluded by law or this agreement: a. Local Fire Fighters (herein referred to as local safety members); b. Local Police Officers (herein referred to as local safety members); C. Employees other than local safety members (herein referred to as local miscellaneous members). 4. In addition to the classes of employees excluded from membership by said Retirement Law, the following classes of employees shall not become members of said Retirement System: a. PLAYGROUND LEADERS WHO ARE PAID ON AN HOURLY BASIS; POLICE CADETS, AND LIBRARY PAGES HIRED ON OR AFTER MARCH 16,1967; AND b. FIRE CADETS AND CROSSING GUARDS HIRED ON OR AFTER MAY 1, 1974. 5. The percentage of final compensation to be provided for each year of credited prior and current service as a local miscellaneous member shall be determined in accordance with Section 21354 of said Retirement Law (2% at age 55 Full). 6. The percentage of final compensation to be provided for each year of credited prior and current service as a local police member shall be determined in accordance with Section 21362.2 of said Retirement Law (3% at age 50 Full). 7. The percentage of final compensation to be provided for each year of credited prior and current service as a local fire member shall be determined in accordance with Section 21363.1 of said Retirement Law (3% at age 55 Full). 8. Public Agency elected and elects to be subject to the following optional provisions: a. Section 21573 (Third Level of 1959 Survivor Benefits) for local miscellaneous members only. b. Section 20425 ("Local Police Officer" shall include employees of a police department who were employed to perform identification or communication duties on August 4, 1972 and who elected to be local safety members). C. Section 21222.1 (One -Time 5% Increase - 1970). Legislation repealed said Section effective January 1, 1980. d. Section 21222.2 (One -Time 5% Increase - 1971). Legislation repealed said Section effective January 1, 1980. e. Sections 21624, 21626 and 21628 (Post -Retirement Survivor Allowance). f. Section 21319 (One -Time 15% Increase for Local Miscellaneous Members Who Retired or Died Prior to July 1, 1971). Legislation repealed said Section effective January 1, 2002. g. Section 20614, Statutes of 1978, (Reduction of Normal Member Contribution Rate). From May 1, 1979 and until December 1, 1985, the normal local miscellaneous member contribution rate shall be 3.5% and local safety member contribution rate shall be 4.5%. Legislation repealed said Section effective September 29, 1980. h. Section 20690, Statutes of 1980, (To Prospectively Revoke Section 20614, Statutes of 1978). Section 20042 (One -Year Final Compensation). Section 21574 (Fourth Level of 1959 Survivor Benefits) for local safety members only. k. Section 20965 (Credit for Unused Sick Leave) for local miscellaneous members and local fire members only. Section 21024 (Military Service Credit as Public Service). M. Section 20903 (Two Years Additional Service Credit). n. Section 21037 (Cancellation of Payment for Optional Service Credit Upon Retirement for Industrial Disability). PLEASE DO NOT SIGN "EXHIBIT ONLY" 9. Public Agency, in accordance with Government Code Section 20790, ceased to be an "employer" for purposes of Section 20834 effective on August 16, 1976. Accumulated contributions of Public Agency shall be fixed and determined as provided in Government Code Section 20834, and accumulated contributions thereafter shall be held by the Board as provided in Government Code Section 20834. 10. Public Agency shall contribute to said Retirement System the contributions determined by actuarial valuations of prior and future service liability with respect to local miscellaneous members and local safety members of said Retirement System. 11. Public Agency shall also contribute to said Retirement System as follows: a. Contributions required per covered member on account of the 1959 Survivor Benefits provided under Section 21573 of said Retirement Law. (Subject to annual change.) In addition, all assets and liabilities of Public Agency and its employees shall be pooled in a single account, based on term insurance rates, for survivors of all local miscellaneous members. b. Contributions required per covered member on account of the 1959 Survivor Benefits provided under Section 21574 of said Retirement Law. (Subject to annual change.) In addition, all assets and liabilities of Public Agency and its employees shall be pooled in a single account, based on term insurance rates, for survivors of all local safety members. C. A reasonable amount, as fixed by the Board, payable in one installment within 60 days of date of contract to cover the costs of administering said System as it affects the employees of Public Agency, not including the costs of special valuations or of the periodic investigation and valuations required by law. d. A reasonable amount, as fixed by the Board, payable in one installment as the occasions arise, to cover the costs of special valuations on account of employees of Public Agency, and costs of the periodic investigation and valuations required by law. 12. Contributions required of Public Agency and its employees shall be subject to adjustment by Board on account of amendments to the Public Employees' Retirement Law, and on account of the experience under the Retirement System as determined by the periodic investigation and valuation required by said Retirement Law. 13. Contributions required of Public Agency and its employees shall be paid by Public Agency to the Retirement System within fifteen days after the end of the period to which said contributions refer or as may be prescribed by Board regulation. If more or less than the correct amount of contributions is paid for any period, proper adjustment shall be made in connection with subsequent remittances. Adjustments on account of errors in contributions required of any employee may be made by direct payments between the employee and the Board. B. This amendment shall be effective on . � e BOARD OF ADMINISTRATION �0T�- PUBLIC EMPLOYEES' RET11 - SYSTEM day of CITY COUNCIL CITY OF BURLINGAME BY ® BY LORI MAND, CHIEF PRESIDING OFFICER �\ PI? C EMESERVICESPISION LOYEES' RDE �REMENT SYSTEM Witne� Q Clerk AMENDMENT ER# 18 PERS-CON-702A (Rev. 10\05) CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM Actuarial and Employer Services Branch Public Agency Contract Services P.O. Box 942709 Sacramento, CA 94229-2709 (888) CalPERS (225-7377) CERTIFICATION OF COMPLIANCE WITH GOVERNMENT CODE SECTION 7507 I hereby certify that in accordance with Section 7507 of the Government Code the future annual costs as determined by the System Actuary for the increase in retirement benefit(s) have been made public at a public meeting of the CITY COUNCIL of the (governing body) CITY OF BURLINGAME (public agency) on APRIL 3, 2006 which is at least two weeks prior to the adoption of the (date) Resolution / Ordinance. Clerk/Secrblary CfTY CLERK Title Date 4/18/06 PERS-CON-12A (rev. 1/96) CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM Actuarial and Employer Services Branch Public Agency Contract Services P.O. Box 942709 Sacramento, CA 94229-2709 (888) CalPERS (225-7377) CERTIFICATION OF GOVERNING BODY'S ACTION I hereby certify that the foregoing is a true and correct copy of a Resolution adopted by the CITY COUNCIL (governing body) CITY OF BURLINGAME (public agency) on APRIL 3, 2006 (date) Clerk/Secr ary CITY CLERK Title PERS-CON-12 (rev. 1/96) of the