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Home My WebLink AboutCDC/2003-08 CDC/2003-8 RESOLUTION OF INTENTION TO APPROVE AN AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE COMMISSIONERS SAN BERNARDINO ECONOMIC DEVELOPMENT AGENCY 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 in the procedures to amend this contract is the adoption by the governing 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 change proposed in said contract; and WHEREAS, the following is a statement of the proposed change: To provide Section 21354.3 (3% @ 60 Full formula) for local miscellaneous members. NOW, THEREFORE, BE IT RESOLVED that the governing body of the above agency does hereby give notice of intention to approve an amendment to the contract between said public agency and the Board of Administration of the Public Employees' Retirement System, a copy of said amendment being attached hereto, as an "Exhibit" and by t.' reference made a part hereof. / Title Date adopted and approved By: form and Approved legal (Amendment) CON-302 (Rev. 4/96) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 CDC/2003-8 [ RESOLUTION OF INTENTION TO APPROVE AN AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE COMMISSIONERS SAN BERNARDINO ECONOMIC DEVELOPMENT AGENCY. I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Community Development Commission of the City of San Bernardino at a i oint regular meeting thereof, held on the 17th day of March 2003, by the following vote, to wit: Council Members: AYES ESTRADA ~ LONGVILLE X MCGINNIS X - DERRY X SUAREZ X ANDERSON X MCCAMMACK X NAYS ABSTAIN ABSENT /// ./ ( The foregoing resolution March , 2003. IS hereby app~OVtd this I <:"1 HI day of ICL[~ /;fudit es, Chairperson ,/ (/ Com unity Development Commission City f San Bernardino I Approved as to form and legal content: CDC/2003-8 . CalPERS EXHIBIT California Public Employees' Retirement System . AMENDMENT TO CONTRACT Between the Board of Administration California Public Employees' Retirement System and the Commissioners San Bernardino Economic Development Agency . The Board of Administration, California Public Employees' Retirement System, hereinafter referred to as Board, and the governing body of the above public agency, hereinafter referred to as Public Agency, having entered into a contract effective August 1, 1982, and witnessed July 19, 1982, and as amended effective July 1, 1988, April 8, 1997 and July 1, 2001 which provides for participation of Public Agency in said System, Board and Public Agency hereby agree as follows: A. Paragraphs 1 through 13 are hereby stricken from said contrqct as executed effective July 1, 2001, and hereby replaced by the following paragraphs numbered 1 through 14 inclusive: 1. All words and terms used herein which are defined in the Public Employees\ Retirement Law shall have the meaning as defined therein unless otherwise specifically provided. "Normal retirement age" shall mean age 60 for local miscellaneous members. 2. Public Agency shall participate in the Public Employees' Retirement System from and after August 1, 1982 making its employees as hereinafter provided, members of said System subject to all provisions of the Public Employees' Retirement Law except such as apply only on election of a contracting agency and are not provided for herein and to all amendments to said Law hereafter enacted except those, which by express provisions thereof, apply only on the election of a contracting agency. CDC/2003-8 ')LEASE DO NOT SIGN "EXHIBIT ONLY" 3. Employees of Public Agency in the following classes shall become members of said Retirement System except such in each such class as are excluded by law or this agreement: a. Employees other than local safety members (herein referred to as local miscellaneous members). 4. In addition to the classes of employees excluded from membership by said Retirement Law, the following classes of employees shall not become members of said Retirement System: a. SAFETY EMPLOYEES. 5. This contract shall be a continuation of the benefits of the contract of the Redevelopment Agency of the City of San Bernardino, hereinafter referred to as "Former Agency", pursuant to Section 20508 of the Government Code, Former Agency having ceased to exist and succeeded by Public Agency on August 1, 1982. Public Agency, by this contract, assumes the accumulated contributions and assets derived therefrom and liability for prior and current service under Former Agency's contract with respect to the Former Agency's employees. Legislation repealed Section 20508, Statutes of 1949, effective January 1, 1988. 6. Public Agency and the City of San Bernardino have agreed to a merger of the redevelopment function of the contract of the City of San Bernardino into the contract of Public Agency. This contract shall be a continuation of the contract of the City of San Bernardino, with respect to the Redevelopment function, pursuant to Section 20567.5 of the Government Code. Such merger is effective as of August 1, 1982. Legislation repealed said Section effective January 1, 1988. a. Service performed for the City of San Bernardino and the Redevelopment Agency of the City of San Bernardino prior to August 1, 1982 shall be subject to the terms and conditions of the City of San Bernardino's contract as they were in effect at that time in addition to the benefits provided in this contract. Service performed after August 1, 1982 shall be subject to the terms and conditions of this contract. For purposes of computing retirement allowances, separate calculations shall be made for services performed under each contract. 7. ,The percentage of final compensation to be provided for each year of credited prior and current service as a local miscellaneous member in employmerit before and not on or after the effective date of the amendment to contract shall be determined in accordance with Section 21354 of said Retirement Law (2% at age 55 Full). CDC/2003-8 PLEASE DO NOT SIGN "EXHIBIT ONLY" 8. The percentage of final compensation to be provided for each year of credited prior and current service as a local miscellaneous member in employment on or after the effective date of the amendment to contract shall be determined in accordance with Section 21354.3 of said Retirement Law (3% at age 60 Full). 9. Public Agency elected and elects to be subject to the following optional provisions: a. Section 20042 (One-Year Final Compensation). b. Section 20965 (Credit for Unused Sick Leave). c. Sections 21624 and 21626 (Post-Retirement Survivor Allowance). d. Section 21573 (Third Level of 1959 Survivor Benefits). e. Section 21024 (Military Service Credit as Public Service). Statutes of 1976. 10. Public Agency, in accordance with Government Code Section 20834, shall not be considered an "employer" for purposes of the Public Employees' Retirement Law. Contributions of the Public Agency shall be fixed and . determined as provided in Government Code Section 20834, and such contributions hereafter made shall be held by the Board as provided in Government Code Section 20834. 11. Public Agency shall contribute to said Retirement System the contributions determined by actuarial valuations of prior and future service liability with respect to local miscellaneous members of said Retirement System. 12. Public Agency shall also contribute to said Retirement System as follows: a. Contributions required per covered member on account of the 1959 Survivor Benefits provided under Section 21573 of said Retirement Law. (Subject to annual change.) In addition, all assets and liabilities of Public Agency and its employees shall be pooled in a single account, based on term insurance rates, for survivors of all local miscellaneous members. b. A reasonable amount, as fixed by the Board, payable in one installment within 60 days of date of contract to cover the costs of administering said System as it affects the employees of Public Agency, not including the costs of special valuations or of the periodic investigation and valuations required by law. c. A reasonable amount, as fixed by the Board, payable in one installment as the occasions arise, to cover the costs of special valuations on account of employees of Public Agency, and costs of the periodic investigation and valuations required by law. CDC/2003-8 13. Contributions required of Public Agency and its employees shall be subject to adjustment by Board on account of amendments to the Public Employees' Retirement Law, and on account of the experience under the Retirement System as determined by the periodic investigation and valuation required by said Retirement Law. 14. Contributions required of Public Agency and its employees shall be paid by Public Agency to the Retirement System within fifteen days after the end of the period to which said contributions refer or as may be prescribed by Board regulation. If more or less than the correct amount of contributions is paid for any period, proper adjustment shall be made in connection with subsequent remittances. Adjustments on account of errors in contributions required of any employee may be made by direct payments between the employee and the Board. B. This amendment shall b~tfective on the BOARD OF ADMINIST~...1..~ PUBLIC EMPLOYEES' ~EMENT SYSTEM ~~ ~ BY ~ BY KENNETH W ZION, CHIEF PRESIDING OFFICER ACTUAR~h~ MPLOYER SERVICES DIVISION PUBLIC ~LOYEES' RETIREMENT SYSTEM <<{) ('~v/ day of COMMISSIONERS SAN BERNARDINO ECONOMIC DEVELOPMENT AGENCY Attest: & ~ ~ l:S~ Witness Date ~4Jt ~ ~ ~ (,~ :-.... v Clerkiv ". ", AMENDMENT ER# 1319 PERS-CON-702A (Rev. 8\02) CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM Actuarial and Employer Services Division Public Agency Contract Services P.O. Box 942709 Sacramento, CA 94229-2709 (916) 326-3420 CERTIFICATION OF COMPLIANCE WITH GOVERNMENT CODE SECTION 7507 I hereby certify that in accordance with Section 7507 of the Government Code the future annual costs as determined by the System Actuary and/or the increase in retirement benefit(s) have been made public at a public meeting of the Community Development Commission (governing body) of the San Bernardino Economic Development Agency (public agency) on March 17, 2003 (date) which is at least two weeks prior to the adoption of the Resolution / Ordinance. Secretary Title Date M.::lr,...h 17 , ?001 PERS-CON-12A (rev. 1/96) CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEI\II Actuarial and Employer Services Division Public Agency Contract Services P.O. Box 942709 Sacramento, CA 94229-2709 (916) 326-3420 CERTIFICATION OF GOVERNING BODY'S ACTION I hereby certify that the foregoing is a true and correct copy of a Resolution adopted by the Community Development Commission of the (governing body) San Bernardino Economic Development Agency (public agency) on March 17, 2003 (date) Secretary Title PERS-CON-12 (rev. 1/96)