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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />RESOLUTION 110. 1 <br />RE50LUT20113 OF I.RIT LION TO APPROVE 0011T'i! t3 t .PTIOSVIDI ?0 POP <br />PARTICIPATION Ycs as ATIE E"LOYE 31 1L 1k 0.1iEi; w 3Y13TEM. <br />IRIEBEAG, the : state Employees' Retirement !lot permits the <br />paartialpatio,, of municipal corporations in the State :mployees' <br />Retireme:sat ;37stem, mekiaa- their employees meaabers of said System, <br />and sets forth the procedure by Which . rt1cip :tion may be aceonp- <br />lished; cnd <br />one step In rigid procedure irj the adoption by the <br />legislative bony of t_e municipal corporation, of a resolution <br />giving notioe of intention to approve a contract between said leg. <br />i©le tive b;adS atlu the Board of Administration of acid AetiremF)nt <br />System, providir for Said participation, which said resolution <br />shall contain a s -a:ry of the major provisions of the proposed re- <br />tiretlent system; and <br />VI REAS, the following is a summary of the major provisions <br />of the }proposed retirement systems <br />. The System is administered by a< board of eight <br />members, or.-m 'nosed of three r�=ab3r- of thr. .yyrytem, <br />an officinal of a bank, an official of an insurance <br />, the Director of Fjrz nos, ~. r embc- oz' the <br />:state Personnel Board, any an offioial of the <br />2. Retirement for service is optional upon attainment <br />of an age which shall be not less than 55 years or <br />more than 60 years, as provided in said contract, by <br />city firemen, end age 60 by city policemen and by <br />other employees, and completion of twenty years of <br />Service for the municipal corporation, and is com- <br />pulsory at age 65 for city firemen and city policemen, <br />and at age 70 for other employees. <br />a. �ihe nontlily rpwirenent allouance payable u »an retirement <br />for service is dependent upon such factors ce aqe, sex, <br />SvIny,, v and Mrs of service. For c4 ty pollooilen and <br />city firemen, retiring at the optionaal age in paara�.:r pa <br />2, or at a hi -her age v-1th ttronty yearn of servioe,the <br />monthly allowEnoe is a pproximetel.y one-half the P- ver- -- <br />uotachty Salary during the five yetwcn Imnod4 as Wely preoec?- <br />ing retirement. For other city employees, the monthly <br />a3ic* :+once, urul retlreO=t 't i�9(' 65, Ir orProximc,,tely <br />1 /70th of the average monthly salary <br />LAW OFFICES OF I -1- <br />A-a THOMPSON <br />210 SPURGEON SLOG. <br />SANTA ANA. CALIF. <br />