Ord73 1576 - Laserfiche WebLink

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. J. , '" -------~-_..- ~p .__.__n__----'- ..-, <p'-- EXHIBIT A AMENDMEHT TO CONTRACT BETUEEN THE BOA...1ffi OF ADMINISTRATION PUBLIC EMPI,OYEES' RETIREMENT SYSTEM AND THE . CITY COUNCIL OF THE CITY OF REDWOOD CITY The Board of Administration, Public Employees' Retirement System, hereinafter referred to as Board, and the CITY COUNCIL of the CITY OF RED'liOOD CITY, hereinafter referred to as Public Agency having entered into a contract under date of July 11, 1941, effective July 1, 1941, and as amended 8ffective JellY 1, 1954, August 1, 1959, January 1, 1967, April 1, 1969, July 1, 1971, and September 1, 1971,and as pro\~ded by Chapters 170 and 316, Statutes of 1971, which provide for participation of Public Agency in said System, Board and Public Agency hereby agree as follows: A. Paragraphs 1 through 11 are hereby stricken from said contract as executed effective July 1, 1941, and are hereby replaced by the following paragraphs numbered 1 through 9 inclusive: 1. All words and terms used hereir. which are defined in the Public Employees' Retirement Law shall have the meaning as defined therein unless other- wise specifically provided. "Normal retirement agell shall mean age 60 for miscellaneous members and age 55 for local safety members. 2. Public Agency shall participate in the Public Employees' Retirement System from and after July 1, 1941, making its employees as herein- after provided, members of said System subject to all provisions of the Public Employees' Retirement Law except such as apply only on election of a contracting agency and are not provided for herein and to all amenmnents to said Law hereafter enacted except such as by express provisions thereof apply only on the election of contracting agencies. 3. Employees of Public Agency in the follovdng classes shall become mem- bers of said Retirement System except such in each such class as are excluded by law or this agreement: a. Local firemen (herein referred to as local safety members); b. Local policemen (herein referred to as local safety members); c. Employees other than local safety members (herein referred to as miscellaneous members). The follovdng employees shall be excluded from membership in said Retirement System: NO ADDITIONAL EXCLUSIONS 4. The fraction of final compensation to be provided for each year of credited prior and current service as a miscclluncous member shall be that provided in Scction 21251.13 of said He1.ircment Law. Ret. F'orm '702.-1 ~ .,,"'-.-.... "'-.. ,,....,.,.---. ,,~'" ._-----_... --..--- -...