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<br />FXS:dft <br /> <br />0/13/93 (002/36) <br /> <br />BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD CITY, <br /> <br />AS FOLLOWS: <br /> <br />1. <br /> <br />The City of Redwood City does hereby give notice of <br /> <br />intention to preserve the retirement benefits of its employees <br /> <br />who <br /> <br />participate <br /> <br />in <br /> <br />a <br /> <br />voluntary <br /> <br />reduced <br /> <br />work <br /> <br />hours <br /> <br />program <br /> <br />irrespective of any temporary reduction in their compensation <br /> <br />made necessary by <br /> <br />the <br /> <br />City of Redwood City's <br /> <br />current <br /> <br />fiscal <br /> <br />emergency. <br /> <br />2. <br /> <br />A copy of this Resolution is to be filed with the Board <br /> <br />of Administration of the Public Employees' Retirement System as <br />notice of the intention of the City of Redwood City to report <br /> <br />payroll for those employees whose retirement benefits would be <br /> <br />adversely <br /> <br />affected <br /> <br />by <br /> <br />a <br /> <br />temporary <br /> <br />reduction <br /> <br />in <br /> <br />their <br /> <br />compensation, in the manner prescribed by the Board and subject <br /> <br />to <br /> <br />audi t by <br /> <br />the <br /> <br />Board pursuant <br /> <br />to <br /> <br />the <br /> <br />authority <br /> <br />of <br /> <br />Section <br /> <br />20499.5. <br />3. <br /> <br />This <br /> <br />resolution <br /> <br />shall <br /> <br />be <br /> <br />effective <br /> <br />from <br /> <br />October 1, <br /> <br />1993, <br /> <br />to January 1, <br /> <br />1995, <br /> <br />upon which latter date any special <br /> <br />reporting pursuant to this resolution for any employees of the <br /> <br />City of Redwood City, shall cease. <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />2 <br /> <br />12082 <br />