HomeMy WebLinkAboutResolution No. 2446 RESOLUTION NO. 2446
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DOWNEY
DECLARING ITS INTENTION TO APPROVE AN AMENDMENT TO
CONTRACT BETWEEN THE BOARD OF ADMINISTRATION OF THE
PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE CITY
COUNCIL OF THE CITY OF DOWNEY
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 required in the procedure to amend this con-
tract 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:
1. Employees who have at least 5 years of service and who are at
least age 55 have further death protection under the 1957 Survivor
Program. Should such an employee die before retirement, his sur-
viving widow may elect to receive either the basic death benefit
or a monthly income equal to one -half the unmodified retirement
allowance the employee was eligible for on the date of his death.
The monthly income is payable until the widow's death or
remarriage with a guarantee that she will receive at least as
much as she would have received under the basic death benefit.
NOW, THEREFORE, BE IT RESOLVED, 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 Administra-
tion of the Public Employees' Retirement System, a copy of said amendment
being attached hereto, marked "Exhibit A ", and by this reference made a part
hereof.
The City Clerk shall certify to the adoption of this Resolution.
APPROVED AND ADOPTED this 25th day of August, 1970.
Mayor
ATTEST:
-, .
City Clerk
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the
City Council of the City of Downey at a regular meeting thereof held on the
25th day of August, 1970, by the following vote, to wit:
AYES: 4 Councilmen: Ferris, Morton, Jennings, Corbin
NOES: 0 Councilmen: None
ABSENT: 1 Councilmen: Winton
r w 6'. ica--
City Clerk
EXHIBIT A
AMENDMENT TO CONTRACT BETWEEN THE
BOARD OF ADMINISTRATION
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
AND THE
CITY COUNCIL
OF THE
CITY OF DOWNEY
The Board of Administration, Public Employees' Retirement System,
hereinafter referred to as Board, and 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, January 1, 1966, and
July 1, 1970, which provides for participation of Public Agency in said
System, Board and Public Agency hereby agree as follows:
A. The following subparagraphs shall be added to Paragraphs 5 and 6 of
said Contract:
5(d)(11) Section 21365.5 (providing a monthly allowance in lieu of
and the basic death benefit for certain survivors of a member
6(a)(6) who dies in employment after qualifying for voluntary
service retirement).
B. Paragraphs 7 (a) and 7 (b) shall be stricken from said Contract and
the following paragraphs substituted therefor:
7 (a) With respect to miscellaneous members, the public agency
shall contribute the following percentages of monthly
salaries earned as miscellaneous members of said System:
(1) 0.102 percent until January 31, 1978 on account of
the liability for prior service benefits.
(2) 4.229 percent 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) 0.367 percent until January 31, 1978 on account of
the liability for prior service benefits.
(2) 11.689 percent on account of the liability for
current service benefits.
C. This amendment shall be attached to said Contract and shall become
effective on the day of
Witness our hands this 25th day of August, 1970.
BOARD OF ADMINISTRATION CITY COUNCIL OF THE CITY OF
PUBLIC EMPLOYEES' RETIREMENT SYSTEM DOWNEY
BY BY
William E. Payne, Executive Officer Mayor
ATTEST:
City Clerk