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RESOLUTION NO. ,/ ldll;3-
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2 RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO INDICATING INTENTION TO APPROVE AN AMENDMENT TO
3 CONTRACT BETWEEN THE BOARD OF ADMINISTRATION OF THE PUBLIC EM-
PLOYEES' RETIREMENT SYSTEM AND THE MAYOR AND COMMON COUNCIL OF
4 THE CITY OF SAN BERNARDINO.
5 WHEREAS, the Public Employees' Retirement Law permits the
6 participation of public agencies and their employees in the
7 Public Employees' Retirement System by the execution df a con-
8 tract, and sets forth the procedure by which said public agencies
9 may elect to subject themselves and their employees to amendments
10 to said law; and
11 WHEREAS, one of the steps in the procedure to amend this
12 contract is the adoption by the legislative body of the public
13 agency of a resolution giving notice of its intention to approve
14 an amendment to said contract, which resolution shall contain a
15 summary of the changes proposed in said contract; and
16 WHEREAS, the following is a statement of the proposed
17 change:
18
1. Retirement allowances to which the annual cost~of-livi
19 provisions apply, payable for time commencing on the first day of
20 the calendar month coinciding with or next following the effectiv
21 date of this amendment to or on account of persons retired or
22 members deceased on or prior to December 31, 1970, are hereby in-
23 creased by 5%,
24 WHEREAS, the estimate of the cost of such change for the
25 public agency is set forth in a copy of the valuation report
26 attached hereto, marked "Exhibit A" and incorporated herein by
27 reference as fully as though set forth at length.
28 NOW, THEREFORE, BE IT RESOLVED by the Mayor and Common
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1 Council of the City of San Bernardino that said City by and
2 through its governing representatives does hereby give notice of
3 intention to approve an amendment to the contract between the
4 Mayor and Common Council of the City of San Bernardino and the
5 Board of Administration of the Public Employees' Retirement
6 System to accomplish the above change.
7 I HEREBY CERTIFY that the foregoing resolution was duly
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L::?M~ day / ~-f/
to wit:
Council of the City of San Bern-
meeting thereof, held on the
, 1973 by the following vote,
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12
AYES:
councpmen
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NAYS:
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ABSENT:
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,/~c<'/L6i~; / et ,
hereby approved this ,/ IIi
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The foregoing
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resolution is
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day of
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, 1973.
San Bernar :Lno
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Approved as to form:
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FILED
APR 1 2 1973
LUCILkE GOFORTH, City ClerK
N~..t2-rl.r~"A ~PUTY
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EXHIBIT A
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, PUllLlt: ENPtOYEES' RETIRn\F./lT SYSTIiH
ACTUARIAL VALUATION TO DETERHINE COSTS
UNDER Sll 135, CHAPTER 1.413 (1972) .
(5% Increase)
AGENCY NAME: City of San Bernardino
AGENCY NUMBER: 61
D~rE: FEBRUARY 9, 1973
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Indiultc dccircd method of funding the liahi.1Hy for the i.ncreases \-rith respect
to persons retired or merr.berc deceased prIor to Jc1l1uary 1, 1971:
U!!!P Sm-I PAYHENT.
$
160370
LUl.iP SUl1 PAYliTml'
$ 239894
!:IISCELI~MD30\JS !!E}mERS
3 Y"1:,llRS
-~~--
5 YEARS
.66%
.40%
SAFETY HEi-lT\ERS
3 YEMS
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5 YEARS
1.01%
1.66%
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10 YEARS
.20%
10 YE!.'RS
.51%
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