Resolution No. 4351
NOW, THEREFORE, BE IT RESOLVED:
SECTION 1: That the City Council of the City of Vernon
gives, and it does hereby give, notice of intention to approve
an amendment to the contract between the City Council and the
Board of Administration of the Public Employees' Retirement System,
a copy of said amendment being attached hereto, marked "Exhibit AU,
28 and by this reference made a part hereof.
SECTION 2: That the City Clerk of the City of Vernon shall
30 certify to the passage of this Resolution and thereupon and there-
31 after the same shall be in full force and effect.
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RESOLUTION NO. 4351
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF VERNON SHOWING
INTENT TO APPROVE, AN AMENDl1ENT TO CONTRACT BETWEEN THE BOARD OF
ADMINISTRATION OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEH AND THE
CITY COUNCIL OF THE. CITY OF VERNON
THE CITY COUNCIL OF THE CITY OF VERNON RESOLVES AS FOLLOWS:
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 procedure to amend this
contract is the adoption by the legislative 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:
Provide service credit up to four years for any continuous
military or merchant marine service for miscellaneous members.
Provide final compensation on the basis of one year (instead
of three) for miscellaneous members.
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ADOPTED AND APPROVED
ATTEST:
F. ~~~ty Clerk
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1!1 STATE OF CALIFORNIA
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COUNTY OF LOS ANGELES )
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I, F. A. ZIEMER, City Clerk of the City of Vernon, do
5 hereby certify that the foregoing resolution, being Resolution
611 No.
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4351., was duly adopted by the City Council. of the City of
Vernon, and approved by the Mayor of said City, at a regular
meeting of the City Council held on
August 5, 1975
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!he Board of Adm1ni~tration, Public Employees I Retirement System, hereinafter
referred to as Board and the CITY COUNCIL of the CITY OF VERNON, hereinafter referred
to as Public Agency having entered into a contract under date of October 23, ~948,
effective November 1, 1948, and as amended effective April 1, 1956, October 1, 1960,
July 1, 1966, October 1, 1972, and May 1, 1974, and as provided by Chapters 170 and
316, Statutes of 1971, which provide for participation of Public Agency :in said
System, Board and Public Agency hereby agree as follows:
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EXHIBIT A
A~N!r TO CONTRACT BETWEEN THE
BOARD OF AD4INISTRATION
PUllLIC FXPLOYEES I RETIREMENT SYSTEM
AND THE
CITY COUNCIL
OP THE .
CITY OP VERNON
A. The following subparagraphs shall be added to Paragraph 5 of said
contract:
5. (d) Section 20024.2 (defining "final compensation" for miscella-
neous members on the basis of average compensation earnable
during the year immediately preceding retirement or any other
twelve consecutive months elected by the member).
(e) Section 20930.3 (providing service credit up to four years for
any continuous military or merchant marine service for miscella-
neous members who are members because of employment by Public
Agency) .
B. Paragraph 5.5 shall be added to said contract:
5.5 Public Agency, in accordance with Section 20740, Government Code,
shall cease to be an "employer" for purposes of Chapter 6 of the
Public Employees' Retirement Law effective as of the effective
date of this amendment to this contract. Accumulated contribu-
tions of the Public Agency as of the date of such amendment shall
be fixed and determined as provided in Section 20759, Government
Code and such accumulated contributions and contributions hereafter
made shall be held by the Board as provided in Section 20759,
Government Code.
C. Paragraphs 6 (a) and 6 (b) shall be stricken from said contract and the
following paragraphs shall be substituted therefor: .
6. Public Agency shall contribute to said Retirement System as follows:
a. Wi th respect to miscellaneous members, the agency. shall contri-
bute the following percentages of monthly salaries earned as
miscellaneous members of said System:
Ret. Porm 702-1
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(1) 0.24 percent until June 30, 2000 on account of the liability
tor prior service benefits.
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(2) 13.70 percent on account of the liability for current service
beneti'te.
(3) 0.67 percent on account of the liability for the 1959 SUrvivo.r
program.
b. Wi th respect to local safety members, the agency shall contribute
the following percentages of monthly salaries earned as local
safetY' members of said System:
(1) 0.219 percent until June 30, 2001 on account of the liability-
for prior service benefits.
(2) 21.998 percent on account of the liability for current s!ilrvice
benefits.
(3) 0.304 percent on account of the liability for the 1959 Survivor
program.
D. This amendment sba.ll be attached to said contract and shall become effec-
ti ve on the day of ·
Wi tness our hands this
day of
.
BOARD OJ!' ADMINISTRATION
PUBLIC >>LPLOYEES t RETJlrF,t~}{T SYSTEM
CITY COUNCIL
OP THE
CITY OF VERNON
Attest:
BY
Carl. J. Blechinger, Executive Officer
BY
Presiding Office
Approved as to form:
Lloyd C. Graybill, Administrative Adviser
Ret. Form 702-2
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