HomeMy WebLinkAboutResolution No. 2325 RESOLUTION NO. 2325
A RESOLUTION OF INTENTION OF THE CITY COUNCIL OF
THE CITY OF DOWNEY TO APPROVE AN AMENDMENT TO
CONTRACT BETWEEN THE BOARD OF ADMINISTRATION OF
THE STATE EMPLOYEES' RETIREMENT SYSTEM AND THE
CITY COUNCIL OF THE CITY OF DOWNEY.
WHEREAS, the State Employees' Retirement Law permits the participation
of public agencies and their employees in the State Employees' Retirement Sys-
tem by the execution ofaa 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 step in said procedure 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 changes proposed in said contract; and,
WHEREAS, the following is a statement of the proposed change:
Provides upon the death of a local safety member who has retired
for service or industrial disability for the continuation of one
half the retirement allowance to certain survivors.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF DOWNEY DOES RESOLVE
AS FOLLOWS:
SECTION 1. That the City Council of the City of Downey gives, and
it does hereby give notice of intention to approve an amendment to contract
between said City Council and the Board of Administration of the State
Employees' Retirement System, a copy of said amendment and a summary of the
major changes of the proposed amendment being attached hereto, marked
Exhibit "A" and by this reference made a part hereof.
SECTION 2. The City Clerk shall certify to the adoption of this
Resolution.
APPROVED AND ADOPTED this 25th day of November 1969.
Mayor
ATTEST:
City Clerk
I HEREBY CERTIFY that the foreging Resolution was duly adopted by
the City Council of the City of Downey, at a regular meeting thereof held
on the day of 1969, by the following vote:
AYES 5 Councilmen: Ferris, Corbin, Winton, Morton, Temple
NOES :0 Councilmen: None
ABSENT :0 Councilmen: None
City Clerk
EXHIBIT "A" - (Resolution No. 2325)
AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION,
STATE EMPLOYEES' RETIREMENT SYSTEM AND THE CITY COUNCIL
OF THE CITY OF DOWNEY
The Board of Administration, State Employees' Retirement System,
hereinafter referred to as Board, the City Council of the City of Downey,
hereinafter referred to as Public Agency, having entered into a contract
under date of February 3, 1958, effective February 1, 1958, and as amended
_ effective May 1, 1959, March 1, 1964, January 1, 1965 and January 1, 1966,
which provides for participation of Public Agency in said System, Board and
Public Agency hereby agree as follows:
A. The following sub - paragraphs shall be added to paragraph 5 of
said contract:
5 (d) (10) Section 21264 (providing upon death of a local
safety member who retired for service or
industrial disability for the continuation of one
half the retirement allowance to certain survivors).
B. Paragraph 7 (a) and 7 (b) shall be stricken from said contract
and the following paragraph substituted therefore.
7 (a) With respect to miscellaneous members, the
Public Agency shall contribute the following
percentage of monthly salaries earned as
miscellaneous members of said System:
(1) 0.102% until January 31, 1978 on account
of the liability for prior service benefits.
(2) 4.129% on account of the liability for
current service benefits.
7 (b) With respect to local safety members, the
Public Agency shall contribute the following
percentages of monthly salaries earned as local
safety members of said System.
(1) 1
0.367/o until January 31
) Y , 1978 on account of
the liability for prior service benefits.
(2) 11.689% on account of the liability for
current services.
C. This amendment shall be attached to said contract and shall be
effective as of July 1, 1970.
Witness our hand this 25th day of November 1969.
BOARD OF ADMINISTRATION CITY COUNCIL
STATE EMPLOYEES' RETIREMENT SYSTEM CITY OF DOWNEY
By
WILLIAM E. PAYNE / SCOTT E. TEM E
Executive Officer Mayor
ATTEST:
Ellen Davis
City Clerk