HomeMy WebLinkAbout7295 - PERSRESOLUTION NO, 7 2 9 5
RESOLUTION OF INTENTION TO APPROVE AN
ArMNDMEPIT TO C014TRACT BETWEEN THE
BOARD OF ADIMINISTRATION OF THE
PUBLIC RiPLOYBES' RETIREMENT SYSTEM AND THE
CITY COUNCIL
OF THE
CITY OF NEEWPORT BEACH
• 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
I%MREAS, attached is a summary of the major provisions of the proposed plan
which include lifeguards on ocean beaches as local safety members)
NOW, THEREFORE, BE IT RESOLVED, that the CITY COUNCIL of -the CITY OF NEWPORT BEACH
gives, and it does hereby give, notice of intention to approve an amend-
ment to contract between said CITY COUNCIL and the Board of Administra-
tion of the Public Employees' Retirement System, a copy of said amendment
and a summary of the major provisions of the proposed changes being
attached hereto, marked Exhibits "A" and "B" and by this reference made
a part hereof.
ATTEST:
ty Clerk
CITY COUNCIL
OF THE
CITY OF NEWPORT BEACH
s
MW w, r, a 'LVi:
EMM
October 12, 1970
Date adopted and approved)
CERTIFJED AS THE ORIGI
CFTy CLERK OF THE CITY OF NEWP T 86ACH
DATW 1i..��� /</ /9 �, Ret. Form 122
s ^, cr A7 9z`irSF^ T Oi!
1...
C1;Y cr"aR
OF %!1
CITY 07 ::cr'ViiT 2 Cii
Tao Bloard of AAA. -I istration., public Ketirecert 'System, i ercirnftcr
rorarrcd to as 4aml$ a.n: =. the Gl."S t:i. _71C:L of th- Ci Y t:: i:.: >.T i CE, he mirafter
raiL-rad to as 2WAie AC ncy, havl en.tored into a contra et under date of April 27,
I9 x, effective July 1, 1941.5, wlucn ?rcvid:s, for tI,e particination of Public ;Zercy
in said Syntem, Lo.i•d and P:oiic Agonc7 hereby aZ eo as followat
I . Para' ap 3 (d) shall be -added to said conAractt
• 3 (d) '_.itc_:sa. 5 on ocean beac3os (Y,orein reformed to as local safety
ne.:.'aer s) .
Ti. Tho Polloairr, v..b- psraZra1 h shall be added to said contract.
8 (�) Srction 20019.3 (prDvidir,^ for inclusion of lifeeserds on ocean
beaches £>v 1; :Cal safety mombors).
C. ?ara^raphs 9 (a) a::d 01 (b) shall be stricken from said contract and the
felloulag parasrra,,hs evibrUtu.od the:ofors
g (a) with rnspec t to n-sincollaneous r. viers, 10ho p^.blic agency shall
co:,trl rate t`:e 'c12owir.g per costar; c of monthly salaries enrrad
as niscolloneous r..£-borg of said System
(1) 6.292 7:3rce:4 on account of tho liability for current service
bsnsfits.
9 (b) Vith r isnoct to local safety r ext::rs, the p:zblic agency at -ail con -
tribute the following parconta (:ts of narthll salaries earned as
local safety mcrbers of said .,ystews
(1) 6.893 percent on account of tho liability for c=ont
service bon.efits.
D. This amer nOnt s, all bo attached to said contract and 9 ;-ill became ef oc-
tive or, the day of
Witaesn our hands this day of
P:: "'LIC ..."AlOV:38 P42T1'. XJF i
Fi liaaz Z. Payne, Exacutiva o Yicor
CITY COUNCIL OF T'2
CITY 0? 1C.14PORT Bi'ACii
rot. Porn 702
.ua
•
•
L
EIRIBIT B I /,/—
SOi'DWIlY OF c`UOP PROVISIOT:J ,
LOCAL SAFSTY ' ti.0" - € 1TS -UALF PAY AT Jr5
YIVIURERMU
Vembersbip is compulsory for all employees, other than elected officials, who
are employed ono -t:alf time or more., except those occluded under the contract*
The earliest retirement are is 50, discounted basisg the normal retirement ago
is 55, and the compulsory retirement age is 6J. An omployee may retire any time
between t:,or -o e; ,es, 50 and 65, provided he moats the minimum req-,airemonts that ho
either have :4553 of accumulated contributiorag or 20 years of service, or have
atta_ntd the compulsory retiror.,ent ago of 650
At normal retirement at age 55 the ur"dified life allowance will be 50Z of
"final compensation" for those who have corinloted 20 or rrcoro years of sr -rvico
continuously to that age. Tizose who have completed lose than 20 years of service
after 55 will roceive an unmodified life allowance of two and one -half (231%) per-
cent of final compensation for Each year of service so renderedo
"Final compensation" is average monthly salary (full time rate) earned during
that period of three consecutive years of hiejlcot earnings, excluding overtime
ccmpeneation.
A ninis<um eervice retiroment allowance of $60 per ronth is gnarantc d upon
corniulsory rctirflr,ent faith credit for prior service, or upon retirement at age 55
with at least twonty years of service.
DVIASTLTTY M'TTR%.?41' >I'T
An employer becoming disabled to the extent that he is incapable of performing
his Auties s all be retired for dis,nbllity. His disability %dll be either err<ploy-
rent connected (industrial disability) or otherviso (nonindustrial disability).
An eriployee w"o becomes disabled chile a membor o: this System for reasons
arising out of his employront, will be eligible for a life income of fifty (50w)
percent of his final. c6mpenaationo
An errpleyeo, bcooning dioebled for roai=5 iint connected with his On.p1wFent
ehall bo. e11r':i:nle for disability rotiremant pre ided he !eas at feast c ;5W of
accumi:lzted contributions or at least 10 years of servicq ouch disability allow-
ance is equal to 1,51 of final corY o- cation for each year of service, iA- th a
• ruarantco of one -third of such finsl con-ponaation for most employees who have
ronder, ^d at Senant 10 years of oerviceo The "ordinary" disability rotiremant
allowance shall under no cire:imstances exceed the cervioe retirement allowance
which would become payable at age 55 if emnboymont could be continued to that age.
P..iiUM B714 FITS
0 Death Defora Retire:, snt
Basic Death benefit This benefit is a refund of the not,%er °e accumulated
coa",-ibuticns plus si.7 month~° nalary p.ovided he has been a miamber
for six years or raore. For those who die before coryaleting six years
of :- tembcrehip9 the benefit is one month's oclary for each year of
— mbership plus refund of contributionso Tisn salary referred to is
that earned during the year preceding deatho Prior service does not
court t_zward this benefit,
Industrial Death If death i.a riervice- connected in the judTnont of tho
Industrial. Accident Cgnmission, a monthly irccme is paid to the
widow for life (or until rem"grriage) instoad of the above basic
death benefit. .However, if she is also eligible for survivrr
benefits from Social Security because of the memberPs loath, the
State system benefit will be reduced by the ariount of such Social
ueeizrity so lone as Social Security benefits are payable (ueeally
until the youngest child reaches 13 and after the widow, reaches
age 62). The total, including Social Security9 would be 50Z of
"final ccr,mensation ", If death was cni.=d by external violence
or physical force, the total benefit (including Social Security)
would be increased to the following percentages of "final com-
nemsation" so long as the endow lives and does not ramarrys
Widow with
3
or more children under 16
75%
Widow with
2
children under 18
7011S
Widou with
1
child under 18
62x%
Peath After Retirement
The do:ath'benofit is X500 if death occurs after retirement, This amount
will be In addition to any payments which might be n2ade under on
optional retirement benefit chosen by the member at his rutirc:.out,
T: ,`i ?at7liSOf1 of ILNPLOV'1`13
t ?non termination of employment, an employee may either leave his contrib,:Uons
crith Vhc Sys`ara and receive, upon attaining retirement age, the rcti.ror<ent bcnofit
?ao haE earned, cr he may withdrava his contribctions (plug interest), thus, terminat-
ing, his menborship in the System and receiving no retirement boncfits, Sxcaot,
(1) a nombe'r with 'M500 or less In accumulated contributions and with less than 20
years of service shall rot have the privilege of leaving his contributions C7ith the.
•
r ,•
System, but shall auto ?natically have `his coeav4 ib3tiorlsq plus internsta rofunded
"Pon termination of employment and (2) a .n*:'ZOr who 1c transferring to employment
with another ac ency which is covered unlor the system Vall not have the right of
withdrawing Us accumulated contributions.
seh member rnal:es monthly contributions to the Qystom which are deducted from
bin snln.ryo The rate or cDntributioa borcoata %o of pay) depends uron a membwetr's
scx and aCe at entry into safety service. Such contributions, for ,male employeeag
with no prior service, currently range from a minimum or 5.64, "Z of salary to a mwci-
• mum of 12.55,E of ;salary.
The employer also contributes toward the cost of the benefits. The crcount
contributed by the employer for current service retirement benefits, gill, on the
average,, exceed the cost to the employee. in addition, the cmplcyar bears the
. entire cost of prior service benefits, the industrial death and disability benefits.
All contribution rates are subject to revision by the Hoard of Administration.