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<br />BmIRtT A <br /> <br />AMENDMENT TO CONTRACT BETWEEN THE <br />BOARD OF ADMINISTRATION <br />PUBLIC EMPLOYEES' RETIREMENT SYSTEM <br />AND THE <br /> <br />CITY COUNCIL <br />OF THE <br />CITY OF ~YOOD CITY <br /> <br />The Board of Administration, Public Employees' Retirement System, hereinafter <br />referred to as Board and the CITY COUNCIL of the CITY OF REJJ.íOOD CITY, hereinafter <br />referred to as Public Agency having entered into a contract under date of July 11, <br />1941, effective July 1,1941, as amended effective July 1,1954, August 1,1959, <br />January 1,1967, April 1,1969, July 1,1971, September 1,1971, and September 28, <br />1973, ~~d as provided by Chapters 170 and 316, Statutes of 1971, which provide <br />for participation of Public Agency in said System, Board and Public Agency hereby <br />agree as follows: <br /> <br />A. <br /> <br />Paragraph 1 shall be stricken from said contract and the following <br />Paragraph 1 shall be ~~bstituted therefor: <br /> <br />1. <br /> <br />All words and terms used herein which are defined in the Public <br />Employees' Retirement Law shall have the meaning as defined therein <br />unless otherwise specifically provided. "Normal retirement age" <br />Shall mean age 60 for miscellaneous members, age 55 for local firemen, <br />and age 50 for local policemen. <br /> <br />B. <br /> <br />Paragraph 5 shall be stricken from said contract and the following <br />Paragraph 5 substituted therefor: <br /> <br />5. <br /> <br />The fraction of final compensation to be provided for each year of <br />credited prior and current service for local firemen shall be that <br />provided in Section 21252.1 and for local policemen shall be that <br />provided in Section 21252.01 of the Retirement Law. <br /> <br />c. <br /> <br />Paragraph 7 (b) shall be stricken from said contract and the following <br />Paragraph 7 (b) shall be substituted therefor: <br /> <br />7 (b) With respect to local safety members, the public agency shall <br />contribute the following percentages of J:lonthly salaries earned <br />as local safety ~embers of said System: <br /> <br />(1) <br /> <br />0.044 percent until June 30,2000 on account of the liability <br />for prior service benefits. <br /> <br />Ret. Form 702-1 <br />