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Reso 2001-041
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Reso 2001-041
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7/20/2012 5:21:35 PM
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7/14/2010 1:45:37 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Resolution
Document Date (6)
3/5/2001
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PERM
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?LEASE DO NOT SIGN "EXHIBIT 0!~°°"~ <br />11. Public Agency, in accordance with Government Code Section 20790, <br />ceased to be an "employer" for purposes of Section 20834 effective on <br />April 1, 1976. Accumulated contributions of Public Agency shall be fixed <br />and determined as provided in Government Code Section 20834, and <br />accumulated contributions thereafter shall be held by the Board as <br />provided in Government Code Section 20834. <br />12. Public Agency shall contribute to said Retirement System the contributions <br />determined by actuarial valuations of prior and future service liability with <br />respect to local miscellaneous members and local safety members of said <br />Retirement System. <br />13. Public Agency shall also contribute to said Retirement System as follows: <br />a. Contributions required per covered member on account of the 1959 <br />Survivor Benefits provided under Section 21574 of said Retirement <br />Law. (Subject to annual change.) In addition, all assets and <br />liabilities of Public Agency and its employees shall be pooled in a <br />single account, based on term insurance rates, for survivors of all <br />local police members, except those who were reclassified to local <br />police status pursuant to Government Code Section 20425 on or <br />before August 4, 1972. <br />b. A reasonable amount, as fixed by the Board, payable in one <br />installment within 60 days of date of contract to cover the costs of <br />administering said System as it affects the employees of Public <br />Agency, not including the costs of special valuations or of the <br />periodic investigation and valuations required by law. <br />c. A reasonable amount, as fixed by -the Board, payable in one <br />installment as the occasions arise, to cover the costs of special <br />valuations on account of employees of Public Agency, and costs of <br />the periodic investigation and valuations required by law. <br />14. Contributions required of Public Agency and its employees shall be <br />subject to adjustment by Board on account of amendments to the Public <br />Employees' Retirement Law, and on account of the experience under the <br />Retirement System as determined by the periodic investigation and <br />valuation required by said Retirement Law. <br />
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