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city
<br />retirement. For other/ employees. the monthly allowance, upon retirement at
<br />age 65, is approximately 1/70th of the average monthly salary during the five
<br />years immediately preceding retirement, for each year of service after the
<br />effective date of participation, plus approximately 1/70th, or less as,may be
<br />provided in said contract by the.municipal.corporation for its employees,
<br />of the average monthly salary during the three years immediately preceding
<br />the effective date of participation, for each year of service prior to that
<br />date.
<br />4._ Retirement for disability, except in the case of city ,firemen and city police-.
<br />men disabled from injury arising out of and in the course of employment, is
<br />permitted only after ten years of service and upon proof of incapacity for
<br />the performance of duty.
<br />5. The monthly retirement allowance payable upon disability. retirement, described
<br />in preceding item 4, is dependent upon such factors as age, salary and years
<br />of service, but generally is equal to 90% of 1/70th of the average monthly
<br />salary during the five years immediately preceding retirement, for each year
<br />of service, with a guarantee of 25% of said salary, subject to certain re-
<br />strictions and modifications.
<br />6. Disability retirement of city firemen and city policemen, in the event of
<br />disability arising out of and in the course of employment, is permitted re-
<br />gardless of age and service, the monthly retirement allowance being one-half
<br />the average monthly salary during the five years immediately preceding re-
<br />tirement. '
<br />7. The benefit payable at death, except in the case of city firemen and city
<br />policemen dying from injury arising out of and in the course of employment,
<br />consists of the contributions of the member plus interest, and plus 1/12th
<br />of the memberts'annual salary during the year immediately preceding death,
<br />for each year, not exceeding six years, of service as a member of the system.
<br />8. The monthly allowance payable to the widow.and children, at the death of
<br />city firemen and city policemen arising out of and in the course of employ-
<br />ment, is one-half the average monthly salary during the five years immediately
<br />preceding death.
<br />9. The benefit upon separation from service by other cause than death or retire-
<br />ment, is the refund of the memberts contributions, with interest.
<br />10. Contributions required of city firemen and city policemen, without credit
<br />for prior service, depend upon salary and upon age of,entry into the retire-
<br />ment system, the contributions per $100 of salary varying from $64.19 at
<br />entry age 21, to $7.80 at entry age,35, for example. Contributions of fire-
<br />men and,policemen having credit for prior service, depend on salary, entry
<br />age and amount of prior service, the amount of contribution per $6100 being
<br />$12:80, for example, at entry age 59, with 19 years of prior service.
<br />11. For other city employees, the contributions depend upon sex, salary and age
<br />of entry into the service, the contributions varying from $3.15 at age 20,
<br />to $6.38 at age 64, for men, and from $63.41 at age 20, to $67.31.at age 64,
<br />for women.
<br />12. The city is required to contribute the balance of the funds necessary to meet
<br />the cost of the benefits provided under the retirement system for the cityts
<br />employees. The city also is required to pay its proportionate share of the
<br />administrative costs of the system.
<br />Ability of the Retirement System to pay benefits is safeguarded by a provision
<br />authorizing the Board of Administration to revise contributions of both em-
<br />ployee's and the city, in the light of experience under the system. Now,
<br />therefore, '
<br />BE IT RESOLVED, that the City Council of City of Redwood City, give, and
<br />does hereby give notice of intention to approve a contract between said City
<br />Council and the Board of Administration of the State Employees, Retirement
<br />System, providing for the participation of said City of Redwood City in said
<br />Retirement System, a copy of said contract being attached hereto, marked
<br />,'Exhibit A.," and by reference made a part hereof. tt
<br />Adjournment to 7:30 P. M., February 10, 1941
<br />CWE:MM
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<br />C1 W."Eltringham,7!tLyClerk
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