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CalPERS
<br /> EXHIBIT
<br /> ~ California
<br /> Public EmPloyees' Retirement System
<br />
<br /> AMENDMENT TO CONTRACT
<br /> Between the
<br /> Board of Administration
<br /> California Public Employees' Retiren~ ent System
<br /> and the
<br /> City Council
<br /> City of Redwood City
<br />
<br />The Board of Administration, California Public Employees' Retirement System,
<br />hereinafter referred to as Board, a~nd the governing body of the above public agency,
<br />hereinafter referred to as Public Ag~ency, having entered into a contract effective July 1,
<br />1941, and witnessed July 11, 1941, and as amended effective July 1, 1954, August 1,
<br />1959, January 1, 1967, April 1, 1969, July 1, 1971, September 1, 1971, September 28,
<br />1973, December 1, 1975, November 1, 1976, July 1, 1979, February 1, 1980, March 13,
<br />1989, August 23, 1990, February 13, 1992, January 14, 1993, June 22, 1998, October
<br />14, 1999, November 21, 2001 and May 6, 2002 which p~-ovides for participation of
<br />Public Agency in said System, Board and Public Agency her0by agree as follows:
<br />
<br />A. Paragraphs 1 through 12 are hereby stricken from isaid contract as executed
<br /> effective May 6, 2002, and hereby replaced by !the following paragraphs
<br /> numbered 1 through 13 inclusive:
<br />
<br /> 1. All words and terms used herein which are defined in the Public
<br /> Employees' Retiremeht Law shall have the meaning as defined therein
<br /> unless otherwise specifically provided. "Normal retirement age" shall
<br /> mean age 55 for Ioca~miscellaneous members and age 50 for local safety
<br /> members.
<br />
<br /> 2. Public Agency shall particiPate in the Public Employees' Retirement
<br /> System from and after July 1, 1941 making its employees as hereinafter
<br /> provided, members of said System subject to iall provisions of the Public
<br /> Employees' Retireme~nt Law except such as apply only on election of a
<br /> contracting agency arid are not provided for herein and to all amendments
<br /> tO said Law hereafter! enacted except those which by express provisions
<br /> thereof, apply only on the election of a contractiing agency.
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<br /> 14520
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