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HomeMy WebLinkAbout94-38 - PERS Compensation System - Key & Management EmployeesRESOLUTION NO. 94_38 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH REVISING THE COMPENSATION REPORTING METHODS TO THE PUBLIC EMPLOYEES RETIREMENT SYSTEM (PERS). • WHEREAS, The City of Newport Beach has the authority to implement Government Code Section 20023 (C) (4) pursuant to Section 20615; WHEREAS, City of Newport Beach has a labor policy or agreement which specifically provides for the inclusion of normal member contributions paid by the employer on behalf of the members; WHEREAS, one of the steps in the procedures to implement this section is the adoption by the governing body of the City of Newport Beach of a Resolution giving notice of its intention to commence reporting the value of employer paid member contributions (EPMC) as compensation for all members of a group or class; WHEREAS, the following is a statement of the proposed change in reporting compensation to PERS: The City of Newport Beach elects to pay 7% of the normal member contributions as employer paid member contributions (EPMC) and report same percent to PERS as compensation. This benefit shall apply to all Key and Management employees. The effective date of this Resolution shall be July 1, 1994. NOW, THEREFORE, BE IT RESOLVED that the governing body of the City of Newport Beach shall implement Government Code Section 20023 (C) (4) pursuant to Section 20615 by paying the normal member contributions as employer paid member contributions and reporting the same percent to PERS as compensation for all employees of Key and Management. ADOPTED, this 13th day of June , 1994. 4 =q Mayor ATTEST: