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Home My WebLink About374 - OrdinancesORDINANCE NO. 374 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF RANCHO CUCAMONGA, CALIFORNIA, AUTHORIZING AN AMENDMENT TO THE CONTRACT BETWEEN THE CITY COUNCIL OF THE CITY OF RANCliO CUCAMONGA AND THE BOARD OF ADMINISTRATION OF THE CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM The City Council of the City of Rancho Cucamonga, California, does hereby ordain as follows: SECTION 1. That an amendment to the Contract between the City Council of the City of Rancho Cucamonga, California, and the Board of Administration, California Public Employees' Retirement System is hereby authorized, a copy of said amendment being attached hereto, marked "Exhibit A", and by such reference made a part hereof as though herein set out in full. SECTION 2. The Mayor of the City of Rancho Cucamonga, California, is hereby authorized, empowered, and directed to execute said amendment for and on behalf of said Agency. SECTION__3_. The Mayor shall sign this Ordinance and the City Clerk shall cause the same to be published within fifteen (15) days after its passage at least once in ~h__e__D~i_~__R~E~[~, a newspaper of general circulation published in the City of Ontario, California, and circulated in the City of Rancho Cucamonga, California. PASSED, APPROVED, and ADOPTED this 21st day of September, 1988. AYES: NOES: ABSENT: Brown, Buquet, Stout, King, Wright None None Dennis L. Stout, Mayor ATTEST: ~e~i~~'TAu~th~let, City Ci~~k Ordinance No. 374 Page 2 I, BEVERLY A. AUTHELET, CITY CLERK of the City of Rancho Cucamonga, California, do hereby certify that the foregoing Ordinance was introduced at a regular meeting of the Council of the City of Rancho Cucamonga held on the 7th day of September, 1988, and was finally passed at a regular meeting of the City Council of the City of Rancho Cucamonga held on the 21st day of September, 1988. Executed this 22nd day of September, 1988 at Rancho Cucamonga, California. COPY *** AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE CITY COUNCIL OF THE · CITY OF RANCHO CUCAMONGA Ordinance No. 374 Page 3 The Board of Administration, Public Employees' Retirement System, heroinafter referred to as Board, and the governing body of above public agency,. heroinafter referred.to as Public Agency, having entered into a contract effective January 28, 1978, and witnessed January 26, 1978, and as amended effective September 22, 1980 and November 16, 1981, which provides for participation of Public Agency in said System, Board and Public Agency hereby agree as follows: Paragraphs 1 through 9 are hereby stricken from said contract as executed effective November 16, 1981, and hereby replaced by the following paragraphs numbered 1 through 10 inclusive: 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 local miscellaneous members. Public Agency shall participate in the Public Employees' Retirement System from and after January 28, 1978 making its employees as heroinafter 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 heroin and to all amendments to said Law hereafter enacted except those, which by express provisions thereof, apply only on the election of a contract- ing agency. 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: Employees other than local safety members (herein referred to as local miscellaneous members)· 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. EXCLUDE ALL SAFETY EMPLOYEES. Ordinance No. 374 Page 4 * * * COPY * · · The fraction 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 21251.13 of said Retirement Law (2% at age 60 Full)· 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. Section 20024.2 (One-Year Final Compensation)· Section 20930.3 (Military Service Credit), as defined in Chapter 830, Statutes of 1976. Sections 21022/21022.1 (Industrial Disability Retirement) for local miscellaneous members. Section 21298 (Increased Non-Industrial Disability Allowance). Sections 21380 - 21387 (1959 Survivor Benefits) including Section 21382.4 (Third Level of 1959 Survivor Benefits). Section 20614, Statutes of 1978, (Reduction of Normal Member Contribution Rate). From September 22, 1980, through November 15, 1981, the normal local miscellaneous member contribution rate shall be 0%. Section 20614, Statutes of 1980, 20614, Statutes of 1978). (To Prospectively Revoke Section Public Agency, in accordance with Government Code Section 20759, shall not be considered an "employer" for purposes of the Public Employees' Retirement Law. Contributions of the Public Agency shall be fixed and determined as provided in Government Code Section 20759, and such contributions hereafter made shall be held by the Board as provided in Government Code Section 20759. Public Agency shall contribute to said Retirement System as follows: With respect to local miscellaneous members, the agency shall contribute the following percentages of salaries earned as members of said Retirement System: (1) 6.738 percent until June 30, 2000 on account of the liability for current service benefits. (Subject to annual change.) Public Agency shall contribute S3.00 per employee on account of the liability for the 1959 Survivor Program provided under Section 21382.4 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 beneficiaries of all local miscellaneous members. C O P Y · · · Ordinance No. 374 Page 5 A reasonable amount, as fixed by the Board, payable in one in- stallment 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. A reasonable amount, as fixed by the Board, payable in one in- stallment 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. Contributions required of Public Agency and its employees shall be subject to adjustment by Board on account of amendments to the Public Employees' Betirement Law, and on account of the experience under the Retirement System as determined by the periodic 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 prescr. ibed 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· on the day of BY Presiding Officeqr~~ PERS-CON-702 (AMENDMENT) (Rev. 6/88) This amendment shall be eff~e BOARD OF ADMINISTRATION PUBLIC EMPLOYEES ' RETIRE~ SYSTEM BY · AssIsTANT .xf, u 'xv, CITY COUNCIL ~ OF THE ~ CITY OF RANCHO CUCAMO