Ord71 1490 - Laserfiche WebLink

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Ar.lEHDr.S:TT TO CO:ITl{i~CT lET/LEN THE BOAEm OF ADIHNIS'I'EATION PUBLIC ElIl?LOYEES I P3TII\.:C;;1:~~JT SYST:2;lvI AND Ti-lli crIT COurJCIL OF THE CITY OF R~Di!COD CITY The Board of Administration, Public Em~lo;Y'3esl Retirement System, hereinafter refer'_'cd to as Board, onr: the CITY C;CmTCI1 of the CITY. OF REITJCOD CITY, hereinafter referred to as Public Afency, having entered into a contract under date of July 11, 1941, effective July 1, 1941, and as amended effective July 1, 1954, Ausust 1, 1959, January 1, 1967, and April 1, 1969, ,.jhich pY'ovides for participation of Public Agency in said System, Board and Public Agency hereby agree as follows: A. The follm..ring subparagraph shall be added to Paragraph 8 of said Contract: 8 (Ie) Section 21264 (providing upon death of a local safety member \'1ho retired for service or industrial disability for the continuation of one-half the retirement allm.;ance to certain survivors). B. Paragraohs 9 (a) and 9 (b) shall be stricken from said Contract and the foll01ring paragraphs substituted therefor: 9 (a) lilith respect to miscellaneous ;:cembers, the public agency shall contribute the follm..ring percentages of monthly salaries earned as miscellaneous members of saj_d System: (1) 0.818 90rcent until June 30, 1971 on account of the liability for prior service benefits. (2) 8.817 percent on account of the liability for current service benefits (3) ~;5.l)o per month for each n:ember covered under the provisions of Section 21380-7 (P~RS Survivor Program). 9 (b) With respect to local safety members, the public agency shall contribute the follo,ring percentages of monthly salaries earned as local safety members of said System: (1) 1.411 percent until June 30, 1971 on account of the liability for prior service benefits. Ret. Form 702-1 Ci-/::i t'cC r~ <r-' ,