The URL can be used to link to this page

Home My WebLink About02-016 - Resolutions RESOLUTION NO. FD 02-016 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE RANCHO CUCAMONGA FIRE PROTECTION DISTRICT AUTHORIZING AN AMENDMENT TO THE CONTRACT BETWEEN THE RANCHO CUCAMONGA FIRE PROTECTION DISTRICT AND THE BOARD OF ADMINISTRATION OF THE CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM TO PROVIDE SECTION 21354.4 (2.5% @ 55 FULL FORMULA) FOR LOCAL MISCELLANEOUS MEMBERS WHEREAS, the Board of Administration of the California Public Employees' Retirement System and the Board of Directors of the Rancho Cucamonga Fire Protection District entered into a contract effective on February 15, 1975 providing for the participation of said public agency in the California Public Employees' Retirement System; and WHEREAS, it is now desirable to take advantage of certain benefits provided under said Retirement System and not included in said contract; NOW, THEREFORE, BE IT RESOLVED, that said governing body authorized, and it does hereby authorize, an amendment to said contract, a copy of said amendment attached hereto and by such reference made a part hereof as though herein set out in full; and NOW, THEREFORE, BE IT FURTHER RESOLVED, that the presiding officer of said governing body is hereby authorized, empowered and directed to execute said amendment for and on behalf of the Rancho Cucamonga Fire Protection District. Please see the following page for formal adoption,certification and signatures Resolution No. FD 02-016 Page 2of6 PASSED, APPROVED, AND ADOPTED this 17th day of July 2002. AYES: Alexander, Biane, Curatalo, Dutton, Williams NOES: None ABSENT: None ABSTAINED: None I� � d William J. Alexand , President ATTEST: Q a-) . ebra J. Adam , ecretary I, DEBRA J. ADAMS, SECRETARY of the Rancho Cucamonga Fire Protection District, do hereby certify that the foregoing Resolution was duly passed, approved, and adopted by the Board of Directors of the Rancho Cucamonga Fire Protection District, at a Regular Meeting of said Board held on the 17`h day of July 2002. Executed this 18"' day of July 2002 at Rancho Cucamonga, California. De ra J. Adams ecretary Resolution No. FD 02-016 Page 3of6 Ca1PERS EXHIBIT California Public Employees' Retirement System �400� AMENDMENT TO CONTRACT Between the Board of Administration California Public Employees' Retirement System and the Board of Directors Rancho Cucamonga Fire Protection District 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 February 15, 1975, and witnessed February 12, 1975, and as amended effective June 16, 1979, May 26, 1990, November 21, 1991, November 16, 1995, June 1, 1996, November 21, 1996 and November 2, 2000 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 November 2, 2000, and hereby replaced by the following paragraphs numbered 1 through 12 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 and age 50 for local safety members. Resolution No. FD 02-016 Page 4of6 PLEASE DO NOT SIGN "EXHIBIT ON : 2. Public Agency shall participate in the Public Employees' Retirement System from and after February 15, 1975 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. 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. POLICE OFFICERS. 5. This contract shall be a continuation of the benefits of the contract of the Alto Loma Fire District and the Cucamonga Fire Protection District, hereinafter referred to as "Former Agency", pursuant to Section 20567.2 of the Government Code, Former Agency having ceased to exist and having been required by law to be succeeded by Public Agency on February 15, 1975. Public Agency, by this contract, assumes the accumulated contributions and assets derived therefrom and liability for prior and current service under Former Agency's contract with respect to the Former Agency's employees. Legislation repealed said Section effective January 1, 1988. 6. 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 21354.4 of said Retirement Law (2.5% at age 55 Full). [Note that a future legislative proposal is being considered which could amend Government Code Section 21354.4 to make the 2.5% at 55 benefit formula applicable to both active members and inactive members who have not yet retired. If enacted, this amendment could have an effect on your agency's actuarial valuation and employer contribution rates in future years.] Resolution No. FD 02-016 Page 5 of 6 ASE 00 NOT SIGN "EXHIBIT ONLY" 7. The percentage of final compensation to be provided for each year of credited prior and current service as a local safety member shall be determined in accordance with Section 21362.2 of said Retirement Law (3% at age 50 Full). 8. Public Agency elected and elects to be subject to the following optional provisions: a. Section 21574 (Fourth Level of 1959 Survivor Benefits). b. Section 20965 (Credit for Unused Sick Leave) for local safety members only. C. Section 20042 (One-Year Final Compensation). d. Section 21024 (Military Service Credit as Public Service), Statutes of 1976. 9. 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. 10. 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 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 miscellaneous members and local safety members. b. 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. C. 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. 11. 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. Resolution No. FD 02-016 Page 6 of 6 12. 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 the day of BOARD OF ADMINISTRATION BOARD OF DIRECTORS PUBLIC EMPLOYEES' RETIREMENT SYSTEli " RANCHO CUCAMONGA FIRE PROTECTION DISTRICT BY BY KENNETH W. MARZION, PRESIDING OFFICER ACTUARIAL& EMPLO RVICES DIVISION Q�\ PUBLIC EMPLOYEEgfi TIREMENT SYSTEM \v Witness D�t�, \G QItf-P Clerk AMENDMENT PERS-CON-702A(Rev.896)