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<br />OR'r.:I~.!D'\ <br />\IU.'\.' .- <br /> <br />OCT 4 1982 <br /> <br />CGM:mf 10/1/82 <br /> <br />RES 0 L UTI 0 N <br /> <br />N O. <br /> <br />9239 <br /> <br />RESOLUTION REQUESTING PUBLIC EMPLOYEES' RETIREMENT SYSTEM <br />TO EXTEND THE FUNDING PERIOD FOR CURRENT SERVICE, DEATH <br />BENEFITS, AND 1959 SURVIVOR BENEFIT ACTUARIAL LIABILITIES <br />OF THE CITY OF REDWOOD CITY <br /> <br />WHEREAS, the City of Redwood City is a contracting agency of the <br /> <br />Public Employees' Retirement System; and <br /> <br />WHEREAS, the City of Redwood City is anticipating budget <br /> <br />deficiencies due to decreasing revenue sources; and <br /> <br />WHEREAS, the City of Redwood City has been advised by the <br /> <br />Actuarial Office of the Public Employees' Retirement System that the <br /> <br />City of Redwood City may request the extension of its funding period <br /> <br />for current service, death benefits and 1959 Survivor Benefit <br /> <br />actuarial liabilities to June 30, 2011, under the terms of the <br /> <br />contract with the Public Employees' Retirement System; <br /> <br />NOW, THEREFORE; <br /> <br />BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD CITY, <br /> <br />AS FOLLOWS: <br /> <br />This Council does request the extension of the funding period <br /> <br />for the current service, death benefits and 1959 Survivor Benefit <br /> <br />actuarial liabilities to June 30, 2011, under said agreement and <br /> <br />directs the City Clerk to forward a certified copy of this resolution <br /> <br />9239 <br />