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& . JHT:yc:l/16/69 . ~ ORIGINAL RES 0 L UTI 0 N ---------- N O. Sppp JAIl 27 19 RESOLUTION OF INTENTION TO APPROVE AN AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE CITY COUNCIL OF THE CITY OF REDWOOD CITY WHEREAS, the Public Employees' Retirement Law permits the participation of public agencies and their employees in the Public Employees' Retirement System by the execution of a contract, and sets forth the procedure by which said public agencies may elect to subject themselves and their employees to amendments to said law; and WHEREAS, one of the steps required in the procedure to amend this contract is the adoption by the legislative body of the public agency of a resolution giving notice of its intention to approve an amendment to said contract, which resolution shall contain a summary of the changes proposed in said contract; and WHEREAS, the following is a statement of the proposed changes: 1. Employees who have at least five years of service and who are at least age 55 have further death protection under the 1957 Survivor Program. Should such an employee die before retirement, his surviving widow may elect to receive either the basic death benefit or a monthly income equal to one-half the unmodified retirement allowance the employee was eligible for on the date of his death. The monthly income is payable until the widow's death or remarriage with a guarantee that she will receive at least as much as she would have received under the basic death benefit. 2. A monthly allowance shall be paid to certain survivors of a member who dies before retirement. NOW, THEREFORE, BE IT RESOLVED, that the CITY COUNCIL of the CITY OF REDWOOD CITY gives, and it does hereby give notice