HomeMy WebLinkAbout88-504 - Resolutions RESOLUTION NO. 88-504
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO
CUCA~DNGA, CALIFORNIA, TO APPROVE AN AMENDMENT TO
CONTRACT BE~1~EEN THE BOARD OF ADMINISTRATION OF THE
PUBLIC EMPLOYEES' RETIREMEMT SYSTEM AND THE CITY COUNCIL
OF THE CITY OF RANCHO CUCAMONGA
WHEREAS, the Public Employees' Retirement Law pemits 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 procedure 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 21382.4 (Third Level of 1959 Survivor
Benefits) for local miscellaneous members.
THE CITY COUNCIL OF THE CITY OF RANCHO CUCAMONGA, CALIFORNIA, HEREBY
RESOLVES that the governing body of the above agency does hereby give notice of
intention to approve 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 "Exhibit" and by
this reference mail a part hereof.
PASSED, APPROVED, and ADOPTED this 17th day of August, 1988.
AYES: Brown, Stout, King, Wright
NOES: None
ABSENT: Buquet
Dennis L. Stout, Mayor
Resolution No. 88-504
Page 2
ATTEST:
Beverly ;f. Authelet, City Clerk
I, BEVERL~ A. AUTHELET, CITY CLERK of the City of Rancho
Cucamonga, California, do hereby certify that the foregoing Resolution was duly
passed, approved, and adopted by the City Council of the City of Rancho
Cucamonga, California, at a regular meeting of said City Council held on the
17th day of August, 1988.
Executed this 18th day of August, 1988 at Rancho Cucamonga,
California.
Resolution No. 88-504
Page 3
AGREEMENT
AUTHORIZING THE RELEASE OF
1959 SURVIVOR BENEFITS ASSETS AND LIABILITIES
INTO THE
THIRD LEVEL 1959 SURVIVOR BENEFIT POOL
BE~W EEN THE
BOARD OF ADMINISTRATION
OF THE
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
AND THE
CITY COUNCIL
OF THE
CIT~ OF RANCHO CUCAMONGA
WHEREAS, the City Council of the City of Rancho Cucamonga has adopted a
Resolution of Intention to include in its contract with the Board of
Administration, Public Employees ' Retirement System, pursuant to
Government Code Sections 21380-21387, including Government Code
Section 21382.4, the Third Level of 1959 Survivor Benefits; and
WHEREAS, Government Code Section 21382.4, requires all assets and liabilities
of all contracting agencies subject to this section, and their
employees who are covered by this section, to be pooled into a single
account;
NOW, THEREFORE, BE IT AGREED:
Accumulated and/or future contributions required of the City of Rancho
Cucamonga and its covered employees are to be released, pursuant to
the provisions of Government Code Section 21382.4, to a single account
referred to herein as the Third Level 1959 Survivor Benefits Pool.
BOARD OF ADMINISTRATION CIT~ COUNCIL
PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF THE
CIT~ OF RANCHO CUCAMONGA
BY BY
ASSISTANT EXECUTIVE OFFICER Presiding Officer
Date
C0505 (Rev. 6/88)
"Exh ib it"