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02/06/2012 ORIGINAL RESOLUTION NO. 15167 RESOLUTION OF INTENTION TO TRANSFER FUNDS AND A LIABILITY BETWEEN THE CALPERS CITY OF REDWOOD CITY ACCOUNT AND THE CALPERS CITY/COUNTY ASSOCIATION OF GOVERNMENTS OF SAN MATEO COUNTY (C/CAG) ACCOUNT IN THE CALIFORNIA PUBLIC EMPLOYEES REfIREMENT SYSTEM WHEREAS, the C/CAG Executive Director and the Administrative Assistant are employees of C/CAG, and WHEREAS, since 1996, the Executive Director and the Administrative Assistant are paid through the City's payroll system with C/CAG reimbursing the City for employment costs including retirement benefits under a contract between the City of Redwood City and C/CAG;; and WHEREAS, following a City audit, CALPERS has required that the C/CAG employees be covered by a contract between C/CAG and CALPERS; and WHEREAS, C/CAG intends to enter into a contract with the CALPERS to provide retirement benefits; and WHEREAS, there are funds in the Redwood City CALPERS account for the two C/CAG employees; and WHEREAS, there is a liability in the Redwood City CALPERS account attributable to the two C/CAG employees; and WHEREAS, CALPERS requires the funds and the liability in the CALPERS Redwood City account to be transferred to the CALPERS C/CAG account, NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Redwood City as follows: That the Mayor is hereby authorized to execute an agreement to transfer the CALPERS funds and liability for the C/CAG Executive Director and Administrative Assistant from the CALPERS Redwood City account to the CALPERS C/CAG account. The Mayor is authorized to execute any and all documents necessary to complete the transfer of funds. * * * PASSED AND ADOPTED this 7th day of February, 2012. ATTY/RES0.2195lTRANSFER FUNDS TO CCAG RESO. # 15167 REV:01/23/12 MUFF 304