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Ord92 2047
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Ord92 2047
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Last modified
10/11/2019 3:05:50 PM
Creation date
10/11/2019 3:05:49 PM
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Template:
CC Index
CC Index - Document Type
Ordinance
Date
1/13/1992
Description
ORDINANCE APPROVING AND AUTHORIZING EXECUTION OF AMENDMENT TO CONTRACT BETWEEN THE COUNCIL OF THE CITY OF REDWOOD CITY AND THE BOARD OF ADMINISTRATION OF THE CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM, RELATING TO BENEFITS PERTAINING TO LOCAL FIRE MEMBERS THE COUNCIL OF REDWOOD CITY DOES ORDAIN AS FOLLOWS: SECTION 1. That certain amendment to the contract between the Council of the City of Redwood City and the Board of Administration, California Public Employees' Retirement System, in the form of Exhibit "A", attached hereto, and by this reference incorporated herein, is hereby approved. SECTION 2. The Mayor and City Clerk of the City of Redwood
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<br /> PlEASE DO NOT SIGN "EXHIBIT ONLY" <br /> h. Section 21222.4 (Special 15% Increase for Local Safety Members). <br /> i. Section 21222.6 (Special 15% Increase for Local Miscellaneous Members). <br /> j. Section 20024.2 (One-Year Final Compensation) for local safety members only. <br /> k. Section 20818 (Two-Years Additional Service Credit) for local safety members only. <br /> 1. Section 20862.8 (Credit for Unused Sick Leave) for local fire members only. <br />8. Public Agency, in accordance with Government Code Section 20740, ceased to be an <br /> "employer" for purposes of Section 20759 effective on February 1, 1980. Accumulated <br /> contributions of Public Agency shall be fixed and determined as provided in Government <br /> Code Section 20759, and accumulated contributions thereafter shall be held by the Board as <br /> provided in Government Code Section 20759. <br />9. Public Agency shall contribute to said Retirement System the contributions determined by <br /> actuarial valuations of prior and future service liability with respect to local miscellaneous <br /> members and local safety members of said Retirement System. <br />10. Public Agency shall also contribute to said Retirement System as follows: <br /> a. A reasonable amount, as fixed by the Board, payable in one installment within 60 <br /> days of date of contract to cover the costs of administering said System as it affects <br /> the employees of Public Agency, not including the costs of special valuations or of <br /> the periodic investigation and valuations required by law. <br /> b. A reasonable amount, as fixed by the Board, payable in one installment as the <br /> occasions arise, to cover the costs of special valuations on account of employees of <br /> Public Agency, and costs of the periodic investigation and valuations required by <br /> law. <br />11. Contributions required of Public Agency and its employees shall be subject to adjustment <br /> by Board on account of amendments to the Public Employees' Retirement Law, and on <br /> account of the experience under the Retirement System as determined by the periodic <br /> investigation and valuation required by said Retirement Law. <br /> ..---..--> <br />
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