HomeMy WebLinkAboutReso - CC - 021-1979RESOLUTION NO. 21-79
RESOLUTION OF INTENTION TO APPROVE All
t1?LN>? iT TO CONT?.ACT BITUM."1:I THE
SOMA OF ADHINISTRATIOII OF THE
PUBLIC EiPLOYEES' RETIREMENT SYSTM
AND THE
CITY COUNCIL
OF THE
CITY OF BURLINGAME
W0REAS, the Public Employees' Retirement Lasa 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 them—
selves and their employees to amendments to said law; and
WHEREAS, one of the steps in the procodure to amend this contract is the
adoption by the legislative body of the public agency of a resolu—
tion giving notice of its intention to approve an amendment to
said contract, which resolution small contain a summary of the
change proposed in said contract; and
WHEREAS, the following is a statement of the proposed changes
To provide Section 20614 (that normal member
contribution rates be reduced from 7% to 3�i%
for miscellaneous members and from 9% to 415%
for local safety members).
NOW, THEREFORE, BE IT RESOLVED, that the sgoverninbody of the above agency
gives, and it does hereby give notice of intention to auprove an
amendment to the contract between the said governing body and the
Board of Administration of the Public Employees' Retirement System,
a copy of said amendment being attached hereto, as an 11Exhibit"
and by this reference made a part hereof.
BY
(i1 e)
Mayor
Title
April 2, 1979
(Date adopted and approved) Ret. Fora 122
AMENDIENT TO C014TRACT BETWEEN THE
B0.'1P.D OF ADMIvISTRATION
PUBLIC EMPLOYEES' RLTIRFriENT SYSTEM
AND THE
CITY COUNCIL
OF THE
CITY OF BURLINGAME 'Iti
The Board of Administration, Epblic;Enployees} Retirement System, herein-
after referred to as "Board", and the governing body of above public agency,
hereinafter referred to as "Public 4ancy", having entered into a contract
under date of July 6, 1942, effective July 1, 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, 1963, September 1, 1970,April 1, 1973,
May 1, 1974, November 1, 1974, February 20, 1975, [larch 16, 1975, July 1, 1976,
August 16, 1976, which provides for participation of Public Agency in said
System, Board and Public Agency hereby agree as follows:
A. Paragraphs 1 through 10 are hereby stricken from said contract as
executed effective July 1, 1942, and 'hereby replaced by the
following paragraphs number 1 through o 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 60 for miscellaneous members and age 50 for local
safety members.
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 such as
by express provisions thereof apply only on the election of contracting
agencies.
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 Firemen (herein referred to as local safety members);
b. Local Policemen (herein referred to as local safety members);
c. Employees other than local safety members (herein referred to as
miscellaneous members).
PERS-CON-702-1
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:
PLAYGROUND LEAVERS HIRED ON OR AFTER .PARCH 16, 1967,
WHO ARE PAID ON Alii HOURLY BASIS.
POLICE CADETS HIRE Oti OR AFTER MARCH 16, 1967.
LIBRARY PAGES HIRED ON OR AFTER MAP,CH 16, 1967.
FIRE CADETS :LTD CdOSSIiTG GUARDS HIRED ON OR AFTER
.PAY 1, 1974.
4. The fraction of final compensation to be provided for each year of
credited prior and current service as a miscellaneous member shall
be determined in accordance with Section 21251.13 of said Retirement
Law (2/, at age 60).
5. The fraction of final compensation to be provided for each year
of credited prior and current service as a safety member shall
be determined in accordance with Section 21252.01 of said
Retirement Law (2i at age 50).
6. The following additional provisions of the Public Employees' Retirement
Law which apply only upon election of a contracting agency shall apply
to the Public Agency and its employees:
a. Sections 21380-21388 (providing for allowances for survivors
of members covered under the 1959 Survivor's Program upon the
member's death before retirement).
b. "Local Policemen" shall include persons assigned to identifi-
cation and communication duties in the Police Department who are
not now local safety members and who were in such employment
on August 4, 1972, who elect safety membership within sixty
days of February 20, 1975.
c. Section 21222.1 (providing a five -percent increase in allowance
to which the annual cost -of -living provisions apply, payable
for time commencing on the first day of the calendar month
coinciding with or next following the effective date of the
amendment to add this section to this contract, to or on account
of members retired or deceased on or prior to December 31, 1970).
d. Section 21222.2 (providing a five -percent increase in allowances
to which the annual cost -of -living provisions apply, payable for
time commencing on the first day of the calendar month coinciding
with or next following the effective date of the amendment to
add this section to this contract, to or on account of members
retired or deceased on or after January 1, 1971 but before
July 1, 1971).
PERS-CON-702-2
e. Sections 21263 and 21263.1 (providing upon the death of a
member who retired for service or disability for continuance
of a post-retirement survivor allowance to certain survivors).
f. Section 21222.6 (providing a fifteen -percent increase in
allowances to which the annual cost -of -living provisions apply,
payable for time commencing on the first day of the calendar
month coinciding with or next following the effective date of
the amendment to add this section to this contract, to or on
account of certain miscellaneous members retired or deceased
prior to July 1, 1971).
g. Section 20614 (providing that normal member contribution rates
be reduced from 7% to 3'-j'/'for local miscellaneoud members and
9% to 4�1% for local safety members.
7. Public Agency, in accordance with Section 2074U, Government Code,
ceased to be an "employer" for purposes of Chapter 6 of the Public
Employees' Retirement law effective on August 16, 1975.
Accumulated contributions of Public Agency as of the aforementioned
date shall be fired and determined as provided in Section 2U759,
Government Code, and accumulated contributions as of the afore-
mentioned date and contributions thereafter made shall be held by
the Board as provided in Section 20759, Government Code.
8. Public Agency shall contribute to said Retirement System as follows:
a. With respect to miscellaneous members, the agency shall
contribute the following percentages of monthly salaries
earned as miscellaneous members of said Retirement System:
(1) 1.321 percent until June 30, 1980 on account of the
liability for prior service benefits.
(2) 20.361 percent on account of the liability for current
service benefits.
(3) .259 percent on account of the liability for the
1959 Survivor Program.
(4) .240 percent until October 30, 1980 on account of the
liability for the benefits provided under Section
21222.1 of said Retirement Law.
b. With respect to local safety members, the agency shall
contribute the following percentages of monthly salaries
earned as local safety members of said Retirement System:
(1) 32.294 percent on account of the liability for current
service benefits.
PERS-CON-702-3
c. A reasoua_�e amount per annum, as fixed by the Board 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 periodical 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 periodical investigation and valuations
required by law.
9. 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 Systema 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 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, or adjustments on account of errors
in contributions required of any employee may be made by
direct cash payments between the employee and the Board.
Payments bj Public Agency to Board may be made in the form
of warrants, bank checks, bank drafts, certified checks,
money orders, or cash.
B. This amendment shall be attached to said contract and shall be effective on
the day of , 19
Witness our hands this
BOARD OF ADMINISTRATION
PUBLIC EMPLOYEES' RETIREMENT SYSTEH
BY
Carl J. Blechinger, Executive,'Officer'
Approved as to form:
Legal Office, PERS
day of
-OF THE
j
BY
Presiding Officer
Attest:
Clerk
19
PERS-CON-702-4
PERS -C0:? -14 (tev. 4-78)
AGE11CY NA`,E City of Burlingame EMPLOYER NO
MISCELLAN-ECUS
PA
15
A. VALUATIOTTSPECIFICATIC"'.S
1. Actuarial data as of 6/7n /2-7
2. Formula
3. Final Compensation Averaee
4. 1959 Survivor Benefits
5. Post-retirement Survivor Dene£its
6. Unused Sick Leave
7. Military Service Credit
8. SB 135 (Section 21222.1 and 21222.2)
9. Section 20614 (From 7% to 3'k %)
B. AGZZICY CC`7TRIBLTION RATE FOR CL'•R_RrT.JT
SERVICE (as of member payroll
a. Rett ement benefits
b. Death benefits
c. 1959 Survivor Benefits
d. 'Doused Sick Leave
e. Military Service Credit
1- SB 135 (Sections 21222.1 and 21222.2)
Until October 30, 1980.
g. Total current service rate
C. AG$NCY CONTRIBUTION FOR PRIOR SERVICE
a. Contribution rate as ,'> of member
payroll until June 30, 1980
D. TOTAL AGENCY CONTRIBUTIONS
a. Total Agency Contribution Rate:
E. ACTUARSAL VALUATION FEE
X—ch 2.4,_ t 470
DALE
M
ESENT BENEFITS
76 ASSUMPTIONS
(Unpooled)
FULL
27 at 60
PRF.SaT BEt r IT
1978 ASSUMPTION
(Unpooled)
FULL
27,at 60
PROPOSED BZNEFI
1978 ASSUMPTION
(Unpooled)
FULL
27 at 60
3 Years
3 Years
3 Years
Yes
Yes
Yes
Yes
Yes.
Yes
No
No
No
No
No
No
Yes
Yes
Yes
No
No
Yes
14.6187
15.5457
20.2247
0.167
0.130
0.137
0.223
0.252
0.259
0.240
0.240
0.240
15.248%
16.167%
20.8607
1.7177
1.3217
1.3217
16.9657.
17.4887.
22.1817
KLSUY YAPJC
CHIEF ACTUARY
AGE1CY NA112 City of Burlingame 2ILPLOYLR NO. 18
A. VALUATIO':' SPECIFICATIOIS
1. Actuarial data as of 6-30-77
2. Formula
3. Final Compensation Average
4. 1959 Survivor Benefits
5. Post-retirement Survivor Benefits
6. Unused sick leave
7. Military Service Credit
8. SB 135
9. Section 20614 (From _% to 4� %)
B. AGENCY CONTRIBUTION RATE FOR CURRENT
SERVICE '(as '� of member payroll
a. Retirement benefits
b. Death benefits
c. 1959 Survivor Benefits
d. Unused sick Leave
e. Military Service Credit
i. SB 135
g. Total current service rate
C. AGENCY CONTRIBUTION FCR PRIOR SERVICE
a. Contribution rate as of member
pw,rroll until June 30, 2000
D. TOTAL AGE21GY COAITRIBUTIONS
a. Total Agency Contribution Rate:
E. ACTUA=T, VALUATIC:T FE✓
March 29, 1979
DATE
P1
is
SAFETY
?SSENT BENEFITS PRESENT BENEFITS i
i76 ASSUMPTIONS x978 ASSUMPTIONS
I
F: 29 at 50 F: 2% at 50
P: 2% at 50 P: 2% at 50
PP.CPCSED BENEFIT:
1978 ASSUMPTIONS
F: 2% at 50
P: 2% at 50
__L.Years
3 Years
Yes
Yes
Yes
Yes
Yes
Yes
No
No
No
No
No
No
Yes
Yes
Yes
No
No
F: Yes
P: Yes
26-040%
27,289%
12941%
0.070
0.052
0.053
0.033
---
---
26.143%
27.341%
32.294%
S211.00
KISUK YANG
CHIEF ACTUARY
PUBLIC E!TLO=St RETI1R.Ef,1ENT SYSTEi ACTUARIAL VALUATION REPORT
'ERS-CO1%1-14 (Rev. 4-78)
AGENCY NA1S City of Burlingame E11PLOYER NO
Members
18
B. AGENCY CONTRIBUTION RATE FOR CURRENT
SERVICE (as ' of member payroll
a. Retirement benefits 29.969% 29.561%
b. Death benefits 0.052 0.052
c. 1959 Survivor Benefits --- ---
d. Total current service rate
C. AGENCY CONTRIBUTION FOR PRIOR SERVICE
a. Contribution rate as � of member
payroll until June 30. 2000
D. TOTAL AGENCY CONTRIBUTIONS
a. Total Agency Contribution Rate:
E. ACTUARIAL VALUATION FEE
March 29, 1979
DATE
30.021% 29.613%
30.021% 29.613%
$100.00
KISUK YANG
CHIEF ACTUARY
1978 Assumptions
A. VALUATION SPECIFICATIONS
Optional Benefits
Optional Benfits
1.
Actuarial data as of 6-30-77
2.
Formula
2% at 50
2%
at 50
3.
Final Compensation Average
3 Years
3
Years
4.
1959 Survivor Benefits
Yes
Yes
5.
Post-retirement Survivor Benefits
Yes
Yes
6.
SB 135 (Section 21222.1 and 21222.2)
Yes
Yes
F: Yes
F:
No
7.
Section 20614 (From 9% to 4'k%).
P: No
P:
Yes
B. AGENCY CONTRIBUTION RATE FOR CURRENT
SERVICE (as ' of member payroll
a. Retirement benefits 29.969% 29.561%
b. Death benefits 0.052 0.052
c. 1959 Survivor Benefits --- ---
d. Total current service rate
C. AGENCY CONTRIBUTION FOR PRIOR SERVICE
a. Contribution rate as � of member
payroll until June 30. 2000
D. TOTAL AGENCY CONTRIBUTIONS
a. Total Agency Contribution Rate:
E. ACTUARIAL VALUATION FEE
March 29, 1979
DATE
30.021% 29.613%
30.021% 29.613%
$100.00
KISUK YANG
CHIEF ACTUARY
Public Employees' Retirement System
Post Office Sox 1953
Sacramento CA 95809
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 have been made public at a public meeting at least two weeks
prior to the adoption of the increase in public retirement plan
Section 20514 reducing normal member contribution
benefits as provided by the rates from 7% to 31A for miscellaneous members an from
9% to 4�% (optional benefit) vor local safety members.
which was adopted by the City Ccouncil of
(legislative body)
the City of Burlingame on the 2ndof 4aril 1979.
(public agency) (date)
Date: April 2, 1979 i �•
original\sign-gEure
Irving S. Amstrup
Mayor
official title
PERS-CON-12A (9-78)
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 C�uncj
(Governing Body)
of the _. City rvF
on April 2, 1979
(Date
Name of Public Agency
appearing at Page 330
Volume 19 of the (Minutes) (Official Records) of the
City of Burlingame
(Governing Body) �—
�Y 717/ o
Y CLERK or
Secretary of the Board
PERS-CON-12 (11/77)