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Res89 10959
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Res89 10959
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Last modified
10/11/2019 1:51:05 PM
Creation date
10/11/2019 1:51:04 PM
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Template:
CC Index
CC Index - Document Type
Resolution
Date
1/9/1989
Description
JAN 9 1989 RES 0 L UTI 0 N N O. 10959 OHIGINAL RESOLUTION OF INTENTION TO APPROVE AN AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE COUNCIL OF THE CITY OF REDWOOD CITY RELATING TO CERTAIN LOCAL SAFETY MEMBERS
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<br />* * <br /> <br />COP Y <br /> <br />* * * <br /> <br />h. Section 21222.4 (Special 15% Increase for Local Safety Members). <br /> <br />i. Section 21222.6 (Special 15% Increase) for local miscellaneous <br />members. <br /> <br />j. Section 20024.2 (One-Year Final Compensation) for local safety <br />members only. <br /> <br />8. Public Agency, in accordance with Government Code Section 20740, <br />ceased to be an "employer" for purposes of Section 20759 effective on <br />February 1, 1980. Accumulated contributions of Public Agency shall be <br />fixed and determined as provided in Government Code Section 20759, and <br />accumulated contributions thereafter shall be held by the Board as <br />provided in Government Code Section 20759. <br /> <br />9. Public Agency shall contribute to said Retirement System as follows: <br /> <br />a. With respect to local miscellaneous members, the agency shall <br />contribute the following percentages of salaries earned as <br />members of said Retirement System: <br /> <br />(1) 6.844 percent until June 30, 2011 on account of the <br />liability for current service benefits. (Subject to annual <br />change.) <br /> <br />(2) 0.635 percent until June 30, 1995 on account of the <br />liability for the benefits provided under Sections 21222.85 <br />and 21222.86 of said Retirement Law. (Subject to annual <br />.~ change. ) <br /> <br />~ With respect to local safety members, the agency shall contribute <br />~ the following percentages of salaries earned as members of said <br />~ Retirement System: <br /> <br />;:<<;' <br /> <br />(1) <br /> <br />0.051 percent until June 30, 2000 on account of the <br />liability for prior service benefits. (Subject to annual <br />change.) <br /> <br />&: <br />(.~ <br />0- <br />~ <br />~ <br />(; <br />,5~5" <br />I:i":" <br />~>' <br /> <br />(2 ) <br /> <br />18.204 percent until June 30, 2011 on account of the <br />liability for current service benefits. (Subject to annual <br />change. ) <br /> <br />( 3 ) <br /> <br />2.223 percent until June 30, 1995 on account of the <br />liability for the benefits provided under Sections 21222.85 <br />and 21222.86 of said Retirement Law. (Subject to annual <br />change. ) <br /> <br />c. A reasonable amount, as fixed by the Board, payable in one in- <br />stallment 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 />10959 <br />
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