HomeMy WebLinkAbout07 - PERS Plan AdministratorJanuary 8, 2002
Agenda Item 7
CITY OF NEWPORT BEACH
HUMAN RESOURCES DEPARTMENT
To: Mayor and City Council
From: Linn Livingston, Human Resources Director
Subject: Resolution Appointment of the City of Newport Beach's Public
Agency Retirement System (PARS) Plan Administrator
RECOMMENDATION:
The City Council adopt the attached resolution to:
1. Appoint the Human Resources Director, or the successor or designee as the City's
Plan Administrator;
2. Authorize the Plan Administrator to take whatever additional administrative actions
are necessary to maintain participation in PARS.
BACKGROUND:
The City is currently a member of the Public Agency Retirement System (PARS), which
provides the City with an alternate retirement system for our part-time, seasonal and
temporary employees who are ineligible for participation in our other Qualifying
Retirement System(s). The City joined PARS as a result of a Federal mandate in 1990,
which mandated that all public employees not covered by a qualified retirement system
either be enrolled in Social Security or in an Alternate System beginning January 1992
The City's membership in PARS, administered by PHASE II Systems, enabled the City
to provide an Alternate Retirement System that fully complied with the new provisions of
the Federal law. Participation in PARS results in savings for the City, when compared to
Social Security, and yet provides more flexible retirement benefits for our part-time,
temporary and seasonal employees. In addition, PARS has offered the City an efficient
and cost effective administrative alternative with over 160 public agencies and 180,000
employees covered by the Trust.
This change is administrative and will result in no additional cost to the City.
Resolution No.2002-
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH
APPROVING THE PLAN ADMINISTRATOR FOR THE PUBLIC AGENCY
RETIREMENT SYSTEM (PARS)
WHEREAS, the City is a member of the Public Agency Retirement System (PARS),
governmental trust, for the purpose of providing tax qualified retirement benefits; and
WHEREAS, the City has also made available the following retirement plan(s):
PARS Alternate Retirement System, PARS 1993 Supplement to PERS, PARS 1994 Supplement
to PERS, PARS 1995 Supplement to PERS, PARS Separation Incentive Plan qualifying under
relevant sections of the Internal Revenue Code and the California Government Code; and
WHEREAS, the City is a member of the PARS Trust;
NOW THEREFORE, BE IT RESOLVED, AS FOLLOWS:
The City Council hereby appoints the Human Resources Director, or his /her
successor or his/her designee as the City's Plan Administrator for the Public
Agency Retirement System; and
2. The City's Plan Administrator is hereby authorized to execute the PARS legal
documents on behalf of the City and to take whatever additional actions are
necessary to maintain the City's participation in PARS and to maintain PARS
compliance of any relevant regulation issued or as may be issued; therefore,
authorizing him/her to take whatever additional actions are required to
administer the City's PARS plan(s).
Signed:
MAYOR
Attest:
CITY CLERK