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Res06 14695
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Res06 14695
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Last modified
10/11/2019 9:55:25 AM
Creation date
10/11/2019 9:55:25 AM
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Template:
CC Index
CC Index - Document Type
Resolution
Agency Type
City Council
Date
3/13/2006
Description
RESOLUTION OF INTENTION TO APPROVE AN AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE CITY COUNCIL CITY OF REDWOOD CITY
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<br />9. <br /> <br />¡'/LEl\SE DO N <br /> <br />"', <br />',t <br />\.;' ¡ <br /> <br />H <br /> <br />,( l' <br />Hj¡ I <br /> <br />¡ <br />, " <br />L <br /> <br />m. <br /> <br />Section 21024 (Military Service Credit as Public Service). <br /> <br />n. <br /> <br />Section 20434 ("Local Fire Fighter" shall include any officer or <br />employee of a fire department employed to perform firefighting, <br />fire prevention, fire training, hazardous materials, emergency <br />medical services, or fire or arson investigation services as <br />described in Government Code Section 20434). <br /> <br />o. <br /> <br />Section 21548 (Pre-Retirement Optional Settlement 2 Death <br />Benefit) for local fire members only. <br /> <br />10. <br /> <br />Public Agency, in accordance with Government Code Section 20790, <br />ceased to be an "employer" for purposes of Section 20834 effective <br />on February 1, 1980. Accumulated contributions of Public Agency <br />shall be fixed and determined as provided in Government Code <br />Section 20834, and accumulated contributions thereafter shall be held <br />by the Board as provided in Government Code Section 20834. <br /> <br />Public Agency shall contribute to said Retirement System the <br />contributions determined by actuarial valuations of prior and future <br />service liability with respect to local miscellaneous members and local <br />safety members of said Retirement System. <br /> <br />11. <br /> <br />Public Agency shall also contribute to said Retirement System as <br />follows: <br /> <br />a. <br /> <br />Contributions required per covered member on account of the <br />1959 Survivor Benefits provided under Section 21573 of said <br />Retirement Law. (Subject to annual change.) In addition, all <br />assets and liabilities of Public Agency and its employees shall <br />be pooled in a single account, based on term insurance rates, <br />for survivors of all local miscellaneous members and local <br />safety members. <br /> <br />b. <br /> <br />A reasonable amount, as fixed by the Board, payable in one <br />installment within 60 days of date of contract to cover the costs <br />of administering said System as it affects the employees of <br />Public Agency, not including the costs of special valuations or <br />of the periodic investigation and valuations required by law. <br /> <br />c. <br /> <br />A reasonable amount, as fixed by the Board, payable in one <br />installment as the occasions arise, to cover the costs of special <br />valuations on account of employees of Public Agency, and <br />costs of the periodic investigation and valuations required by <br />law. <br />
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