HomeMy WebLinkAbout10561 Amendment to contract PERS
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RESOLUTION NO./ l15i /
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A RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN
BERNARDINO FOR THE INTENTION OF APPROVING AN AMENDMENT TO CONTRACT
BETWEEN THE BOARD OF ADMINISTRATIDN OF THE PUBLIC EMPLOYEES'
ftETIREMENT SYSTEM AND THE CITY OF SAN BERNARDI NO.
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WHEREAS, the Pbblic Employees' Retirement Law permits the participation of
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public agencies and their employees in the Pllillic Employees' Retirement System by the
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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
WHEREAS, the following is a summary of the proposed change for miscel-
laneous members:
Provides upon the death of a local miscellaneous
member who has retired for service or disability,
for the continuation of one-half the retirement
allowance to certain sqrvivors; and
WHEREAS, attached is a summary of the proposed changes for safety members;
NOW, THEREFORE, BE IT RESOLVED, that the CITY COUNCIL of the CITY
OF SAN BERNARDINO gives, and it does hereby give notice of intention to approve an
amendment to contract between said OITY COUNCIL and the Board of Administration of
the Public Employees' Retirement System, a copy of said amendment and a summary of
major provisions of the proposed plan being attached hereto, marked Exhibit "A" and
"B" and by this reference made a part hereof.
I HEREBY CERTIFY that the foregOing resolution was duly adopted by the
Mayor and Common Council of the Cit of San Bernardino at a
thereof, held on the~day of , 197-1-, b
wit:
AYES:
Councilmen (/;"fl-k---4k -5 ~~~/i/P7(A1fl-/~,~Lz,,;:
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NOES:
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ABSENT:
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The foregoing resolution is hereby approved this, W day of
1970.
~
tRt{!/A .
Mayor of the c~ San Bern. rdino
Approved as to form:
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C' Y Attorney
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JAN 0 i:;; .
~u~_ IL,? GOF~JHH, City (!:;', .'
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RESOLUTION OF IIlTE:iTION TO APPROVE AN
A;.~NDHI:~NT TO CO;':T!L\CT BE'I'v;EEN THE
BOARD 01' AD:mnSTEATION OF 'I'liB
PUBLIC EHPLOYEi'.s' I1.:nI;CE:,ENT SYSTEM
ArID THE
CITY COUi:CIL
OF THE
CITY OF SAN B:;RKhRDINO
~JERSAS, the Public Employees' Retirement Law permits the participation of public
agencies ami their emoloyees in tbe Public E:~ployees I Retirement SJ'stem
by the execution of a co"trC'ct, and sets forth the procedure by which
said public a..encies may elect to subject themselves and their employees
to a~end~ents to said law; and
vnJEREP.S, one of the steps required in the procedure to an~nd this contract is the
adoption by the lecislative body of the public a~ency of a resolution
giving notice of its intention to a;>prove an &'1lendment to said contr1.ct,
which resolution shall contain a sU:'lnary of the chanr;es proposed in said
contract;' and
vmEP~S, the follo.dnr. is a sumrr~ry of the proposed ehanr;e for miscellaneous
members:
Provirles U!'On tho death of a local miscellaneous (;Jember who
has retired for service or disability, for the continuation
of one-half the retirement allowance to certain survivors; and
WHEREAS, attached is a SU~'1lary of the proposed changes for safety menmers;
NOW, Tl-lE':CFOR3, BE IT HESOLVED, that the CITY COU;:CIL of the CITY OF SA:l DERN.\RDINO
gives, and it does hereby give notice of intention to a"prove an amcnd-, '.
mont to contract between f:aid CITY CGU:JCIL and the ooard of Administra-
tion of tbe Public Er:rplo:!ees I Retirement System, a copy of said ar:lend:~ent
and a sur:i"ary of ma;jor provisions of the proposed plan being attached
hereto, marked Exhibit "A" and "B" and by this reference made a part
hereof.
CITY COUNCIL
OF THE
CITY OF SAil BERNARDIlIO
BY
Clarne )
(Date adopted and approved)
('J.'itle)
Ret. Form 122
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. ~ATE OF CALIFORNIA
RONALD REAGAN, Governor
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
1416 NINTH STREET, P.O. BOX 1953
SACRAMENTO. CALIFORNIA 95809
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STANLEY B. FOWLER; President
ono PALOMBO, Vice Presid&nt
W. JAMES DAWSON, D.D.S.
BARTLETT T. GRIMES
ROBERT R. HEADLEY
A. W. "JOE" HISLOP
WILLIAM G. MAAS
VERNE ORR
JAMES A. TAYLOR
NEVILLE W. TURNER, M.D.
JOSEPH l. WYATT, JR. .
Reply to Section 23
December 23, 1970
Mr. Jerry T. Winstead
City Administrator
City of San Bernardino
City Hall
San Ber?ardino, California
Dear Mr. Winstead:
We are transmitting with this letter our actuarial report on the valuation conducted
to determine the contributions required by your agency if your city should amend its
contract to provide Section 21264.1 (one-half continuance benefits) for miscellaneous
members.
For comparison purposes, we have also calculated the rate under the existing formula
using the 1970 actuarial assumptions. Unless the contract is amended, the city's
rate will not change until July 1, 1971 (as a result of the forthcoming quadrennial
valuation).
We are also enclosing two copies of Resolution of Intention, Form 122, with a copy
. of the proposed amendment, Form 702, attached to each resolution to provide "2% at
age 50" benefits (instead of one-half pay at 55) for safety members and the Section
21264.1 for miscellaneous members. Form 949, Certification of Governing Body's
Action and Form 127, Certification of Employee Election are also enclosed.
,fuen your governing body has adopted the enclosed resolution declaring its intention,
of entering into amendment with the Retirement System's Board of Administration, a
copy of that resolution with one copy of the amendment attached, should be returned
to this office. That material should be accompanied by the Certification of Govern-
ing Body's Action properly filled out by the clerk or secretary of that body.
We are also enclosing' sample ballot for your safety employees election. The name
of the public agency must be' stamped on each ballot. Your attention is called to
the following quotation from Section 20457 of the Government Code:
"....The contract shall not be approved unless an election has been held
to permit the emnloyees proposed to be included in this system to express
by secret ballot their aoproval or disapproval of the retirement proposal
.. .. "The election shall be conducted in the manner prescribed by the govern-
ing body which shall be such as to permit the firemen, the policemen, the
county peace officers, and the other employees proposed to be included in
this system to express separately their approval or disapproval."
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City of San Bernardino
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December 23, 1970
As soon as we receive one executed CODy of the Resolution of Intention, Certifica-
tion of Governing Bony's Action (Form 949) and Certification of Employee Election
(Form 127), we will fo~.ard additional copies of the amendment and the ordinance
necessary to comolete your governing body's final action. That final action will
require a two-thirrls majority of your governing body and must be deferred for at
least twenty days after adoption of the Resolution of Intention. The employee
election may be scheduled for any date during the interval between the two actions
of your governing body.
If you have any questions, please let us know.
Yours truly,
LJu 'to 7"t</
Kisuk Yang
Actuary
HC:er
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Public Employees' Retire~ent System Actuarial Report
r-
Agency
SAN BERNARDINO, CITY OF
0061
Employer I,umber
Miscellaneous
Name
1970 FACT0RS
A. Val'.lation specifications:
Present Formula
Without
1/2 Continuance
Present
~ Formula
With
1/2 Continuance
1. Valuation "as of" date 6/30/70
1/60 1/60
$60 .$100
No Yes
XXXX XXXX
No Yes
2. Formula
3. l1inimmll 1/onthly Service Retirement Benefit
h. 1957 Survivors
5. 1959 Survivors
6. One-half continuance
B. Age~cy contribution rate for ourrent
5ervice (as % of member payroll) over
30 year funding period:
a. For retire;nent benefits
7.316%
9.893%
b. For death benefits
.0.309
0.309
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c. For 1959 Survivors
d. Total current service rate
7.625%
10.202%
C. Agency contribution rate for prior
service (as % of member payroll) over
30 year funding lJ",riod:
-....,
0;251%
0.348%
D. Total Agency Contributions:
a. Total Af!ency Contributiotl Rate
7.876%
$6,565,968
$517,136
10.550%
$6,565,968
$692,710
b. AnnlHl.l r:ernber Poyr-oll
c. Annual cont.ributions based on
me:nber payroll.
.
Date
December 22, 1970
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KISUK YM.:G ~I
ACTuARY
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EXHIBIT A
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I~'_~-' .., \ ,'~ f\~,n;~m?lE!-rr TO CO:t'l'fl;., GT ';~~~ i:;EH THE
~'.' '\- "'-',""'.)'" ~)"'.I'l:"n O"~ ~~"":l""'l':''''-:-'';l''O''1
.; .. ,', ll' .H~:l", .< /'..... ,oJ ,.J t ,.~t. J,. ._
',,-,.....;,-:-...' rr..!',l.LJ.C 'll1'L(""-"~' ""':1'In'~'l' -..:T <"I~"'l""'}1
.....>:;i.Y r",.. ~ :..:. ~ JI.'.,D~) (',:.. ,"~'\'J" ,.1 .)!~l
A;iD TE:'';;
CITY CC'U;iCIL
OF 1'hl'~
CITY or ~;AN ILij;;AHDliiO
rta)' Board of' hrllllinistl'ation, :'ltblio 1;1".:,10Y60s I !(fltirnmont. ~;Yllte:n, hareinet'ter
referred to as ::.onrrl, and the CiTY CC:_;;HaL of the C1T! ()~:' ~~j\Z-r D:,['~<-;.\i::,.:'r;iO, horeinafter
refer,.."d to fiB Public ,,!;eney, l:tlvi:1g catered into a contract <,nder date oJ.' Fc;bruary
6, 191,5, effeotive ;;arch 1, 19ltS, Rr~-.J as "'!Sf,ded effective i;ovmnber 1, 19h9, Ecpte1<ber
I, 1951, J;muar:r I,. 1952, July i, 195!., ,'ebruary 1, ).965, and :"ciJr..lury 24,1;;69.
,,';,leh provi'1p'8 for the Clarticbation or ,'ublic }."enoy in nald System, Hoard and
?",,,lio Agency henlby a~.,e liS fol1owss
A. Parnf'T'i:;>hs 1 through 10 (Ire hHreby stricken from saill cor,trl.lot PS exeouwd
offectSva . arch 1, 19ltS, and are hereby replacod L1 thB follo;iill!~ pnra-
rrraphs nU:''llDsred 1 thrcuth 11 inclusive I
1. All }lOrds and tcrpJ! uSCld herein "hich al'O defined in the Publio Sc,;)loy-
f:oe' ":etirm.lollt I..aw stoall i',~,v" the f~onning as defined thLrein ',;nless
otherwise o;)oci,fil'a1l.;r provicod. ":';01,"~a1 retire,"€lnt ago" shall ,wan
are 60 for minco1laneous >'KibaI's and ace !i') for looal safety "It!;:,bers.
2. Publio ,il/Teney shall partic:l,pate in the ?",blio t:,o.>loyeoa' j;:etl.rement
:3ysteul from and after ',arch 1, 1?!.6, ;,~aki!lg it-a o,",,10y06s as i'erein-
after :lr:>vlderl, ;"",c:bers of tJrdd lJ'Isto;" DUb,ject to ,,11 Dl'ovisions of
the PUblic ::;m:)l%cs I ,':etirerJcnt Law 'except such !l8 apply 0:11)' on
cl',ction of a oontri)ctln<7 ai:enc~y snd are not rrovided for herein and
to all a:r.er:rl.'1ants to 5aid t.IlW hereafter e"aote'] exctl,)t INoh a9 by
exaress orovi.sion thereof apply only on the alcctiotl of CGlOtl"l'Icting
arencies.
3. i::r;<lloyees of ;>Ublic J\{;enc.v in t.ho following classes shall become m"".bera
of f;ai.d :(lltir","ont ,;yston except such in "'Gch s'Jch elaas as are excl...<1ed
by la;r or t':, is a;' l'fl'l!l<Ont I
a. Looal fireman (herein referred to as local eafety members)J
b. Local ool1co,aen (herein referred to as looal Sll1'ety mO!:lberllh
c. ~loY"e!l other t.han local fireMen nn1.10cal pollcg~~n (herein
referred to as misoellaneous r.I(;.r!l;"'llrs).
The fcUolfin!' er;qloyees lll:lI11 llO excluded from me[~berllhi? in said
Retirl!lt.ent ;':feteml
EXCLUDE CR03']IllO uu;..rms ;;EOS:; SM?LOyg;~1r
CO:~':c.,'lC:.;} JJ\ :;UAi,y 1, 1952 orl J'-fER.
Rot. Fol'l~ 702-1
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4~\. Tlia. fraction of final C";;t:K<n'lltion tc be provi"od for each year of
'''"6r,'vnted C\UT(mt l1ervico DB D. mJ.$cellanooU8 """"001' u')on reUrer"ont
at norn"l rot:\re",'mt Illf:(l (;hull be 1/6J and aitall b-. a~;>liod liS pro-
vided in Section 21251.1 of seid rtctirolliont ;~w.
Tho fra(~ticn of final compN'3ation to be, provicled for each year of
creditor! c\!.r~'lJ(lt servieo RS 0 l()cal !Jnt"ety 1710 'l,,,r 51'nll CO deter:ained
in accordance with "f:ction n752.:)1 of said f<t)tJ.re~cnt Law.
6.
P',,'efits en accou:.t of ~lrior 5'1l'Vlco shall be 10)';: of the fr&c:Uon
01" final CC~l~1t:~H':at.ion :l;1ccLficd lor ~1:"scel,lo~leou8 :,~:e.~terf; in i>nra-
,,:raph b shove, but COrn?~ltOrl in n.ccordarlco with ;;ection 21253 01' ~aid
!(etl~'c"!ent Ln", uor! 1'01' local ~af(Jt;r "l",";be"s 5;"nll be 10J% of the
fraction establi!lhed :l.n accordance \Ii th P.3.ravrUi,h s.
7.
C0ntrlbutions fer rniscellaneons nr.r. local safety mt''',oers shall be
subject to Sections 20601 and 20603.01 respect,i~el:r of ~aj d retire-
ment :..nw.
3.
Tr.e fo11ow1np; aiid!ttonal proviSions of the ?!l\!lic Llr.;>loycos' :totirll-
",c,nt 1nw wbch a'J;lly only U'>Orl election of !l contr.octim, ""aney shall
lnply to t~.e Public ;,,;onc';l and its e;a;,lo;reesl
Ii.
'kotton 2;102h.Ol (cefining "fin"l co,c.pelillation" on the basis of
8. puriod of three cOl.secutivo yearll).
b.
flcction 2125J.l (>)roviclln;: a lnillimUill retiro.,;ent allo"''l.nco of
';1200.00 per yo aI" un;'mr certain oonditio!:!!).
c.
S<lction 21361.51 (prnvi'Uns a :;.$00.00 death b.mofit u.;on neath
after rotireMent).
d.
:1cction 2'))25 {nrovidin~ for incL:sion of co, ",KI\'lation without
1i1lit in oo..putat:ions ;.:hero co:,,)e ',oation is a f;)ctnr}.
o.
Section 21Y6.S (Dl'ovi::linp.: monlbly all,Manco in lien of tho basic
death benefit for certain survivors ot' a ",c,"lber >110 dies in ","",loy-
Il'.ent ai'ter <1u<llifyin:' for vGluntl<ry service rctiroNcnt).
f.
Section 2126L.1 (providin~ tnon doath of a local l'liscel1eneou8
m('lnbCT who retlre<l for service or di:::llbilit,1 tor the continua-
tlo!\ of cl!lo-i,a.lftl.6 I'$tiro"..ent all"",l:lce to certain tkrvlvors).
g.
:1eotlon 21251. 3 (?rcvi.din~ for lr:cre<lCe8 in allo"a~,ees nl:!ynble
for tima C!iI:U!:cncing on .YU)tpf.-lber 1, 1~51 to !ii>rsons rotired on
and prior to Je"te:cber 1, 1951 in IlCC'l1"1ance \lith tho oontrnct
as "llIended on Ilairl date providinf, that no nllQw8nct:ls be necrnslled).
h.
Section 21251.6 (;I!'Oviding for incrCarJ8S in allowances payable
for time cMlIJ\()ncin~ on the first day, of July 1965 to :>ersono
retired prior to January 1, 1962).
1.
Section 21251.15 (,H'ovldin,1 for incrCM8S in allo\o'saces payable
for time C(l"mlllllcing on tho Hrst day of ;.;aroh 1969 to por::ona
retired prior to January 1, 1961).
)(et. lora 702-2
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?ublic A~;',cy shall (":~ltributa t.o sait! ;(etireraont SfSt9tll as followol
s.
\)ith rCB)lBct to miscellaneolls mONOers. tile public agl!1"ICj
contrlbllte tho: fo11owin;: :JfJr'ce!ltll,-;os or monthl;r enla:des
as 1115,r.cellanaous mo;.:bors of said System:
Ilnnll
O!H'I1J-m
(1)
0.343 percent until June 30. 20Jl Oll account of' the liability
for prior service benefits.
(2) lO.~02 percent on /.wcollr.t of tilo li.:lbility 1'or current service
bt'nofits.
b. Hith roa,oot to local safety r.lonborfl. the f',-,uHc {;,oney llbnU ,
c"''1trlbuto the follo'alnr; ?Hrccntn,~cs of monthly s~lilriell enrn6d
ns local sufety n""',C'lrll 01" "aid, DysteMI
(1) o.hOIJ rercont until June )). 20)1 en ac('ount of the liability
for prior f.v'rvice benefits.
(2) 16.075 perc6nt on ~ccount of the li~bil1ty for currant service
uenefita.
c. A reasonable !Hclount oer annum. as fixor! by Hoard to cover the
costa of a~nlinist(lrin" said ~;ystem cs i taU'act.s the cFulo,rce8
of Public L'cne;r, not inc~lurjj.ng the cost" of spce'i(\l valuations
or thr- p!~rioriical invost.L'ntions tlnc1 v(:lluatioll require'i by law,
r.>rovidad that satd "c.uunt IIL"ll [A'l datt'l"rniiw<i Oil t.ho UHsi!l of
the nU1"lber of c",,,l')yo(Js of rabIie A,~(1ncy wno 1'1"0 rr'c:.ortod 1\8
fflr;,berll on a payroll rlesL'nr.tod ,;y tho :.;(stem coverini; one month
of each yoar. or with r"Hlpeet to tho fir!l'~ year of uartie1pation,
on the effective ~ate of ~ai1 !'3rtici;l:,tion.
d. A rCRSoMblo llmount '-'s i'bod by tho Hoard, paynble ill ono install-
,"ant !is the occt!.siona arise. to cover <'osts of '31),,01al valuations
all account of o,'.~loy(;cs of"lblLe A,:ene:r, and eosta of the oerlod-
ieal inve5tiration and v<J.iuation required by IB.lor.
10. Contributions required of "ub1.1c A?oney llnd its e,"oloY()~ll! "hall be
t1ubj"ct to l!....ju3t~"'nt by Foar" on Ilccount of' a",en,!,.",nt5 to the :'ublic
S"'~loyeeB' :<et.ire:'lont Lav, linn on account of exoorlence under the
Rotire",rmt ;;.fote:., 86 detl'rrnned by the ;'erio.;ical ir:v:lst,igation
and valuation reGllirod by ~l\id ;,(,tiromont l.aw.
11. Contributions required of :'ub11o Arene,! and ita l!.'1nlo~'ee8 5hall be
paid by :'ublic /:,'oney tn the 'i"tircl'l<int ;clstcm wi thin thirty' days
af'ter the enn of t.he ""riod to ...Heh said cClntributionB refer. If'
more' or llilSIl than the correct a:1ount of c':.ntribution is ps,id tor any
Ret. Forra 102-)
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p.,r1od, pro,Jor vdjust!'l$ut aha-ll be m<;de 1n connectioll with subsequent
remittancHs or adjustment on account of tirror~ in c.:>r;tributions :re-
<T,ired 01' any e;n:;lloy"o ma:r bo ~w.do by dirElct cash p:'YJ::ants between
tho ffi\ployeo ,,,,11 Doard. r'ilyroents by l'Cli..UC i.[.oney to ,'ollrd ;nay bQ
made in tho form 01: lmrrl'nts, bank checks, tank rlraftll, cartified
chocks, money Oi"!crs, or cash.
B. This &nlendlllont shall be effoctive on tho
day of
.
Wi tness our hands this
_ day of
.
BOt. ;\P OIl Ar~H:'JIS"rnflTIOH
?UH!,IC (:;'1?LOY;':f~S' n~:'r-li~~JtCliT SYSTB14
CITY QU,teIL
OF THE
eri"! OF SAH B.cfWAr:nElO
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\{illiam l\.
rayr~, Lxecutive 0fficer
BY ..,c<"'"
('f'l~.Ol'residih~~. H.f,C;lcer
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Clerk
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EXHIBIT B
~\U:-:1:AnY 0:,' t'1J\J(:r~ Pl:.OV J:)10:,i3
Local ~;afet)' ;'"rr.b(;T'S - 2~t L-t Age 5:)
Hot; T'c:^.ent Pro(.:ra."\l
:. ~ In <
;1"-:-;.~,HI?
:'.~mber~h1p is c(l1'l;lUl:gory for ell cl!l'JloyeoR, other tban elected officinle, who
erG e:nDloytJ,j one-half time or more oxcept thosc excluded \.In''er the contract.
S:",l\fJCS T?"TJr-;\y:~~'T
The lll!rlif1st r..,tir"",,,,nt a:.e 1s 50} t.he nor;'.al rct:ire:i1cnt ,,,-a is 5'); cnd the
cor.iDulsory ratire:rrent ero io 60. A local n~fety ;::c;;Jr:.r way retire a;'~y time bt)ttlo(:;n
those a,,'Q8, ~O .and 6J, provided he neet$ the r:JiHilY\.~Jl r\1qui:"Ce:-';'Lnts that.. he fjltr!2!
bave ,5'}J of accurNl~,tell c.Jntriblltion3, or 2~) j",-,rn of llervica, or f:HVO at"""ncd
the cl)",;mlsory retirc"ent 11>;8 of 60. -, -
Tho unr'ln"ifiecl lifo 1l110~lllnC8 will b$ 2;0 of "final cO:;'l'''nsation" for oneh
yenr of safety service 11',.on r(ltir""";mt at :,..e 5-3 with incr-o DS in.", pcreenta~~es to a
maximum of 2.";' at retire.:1ont at a,,-'O ~5. T,~tul 130rvice retiro:nent benefit is sub-
joct' to a limitation of 75~~ of fl~,lll co:n()Cnslltion.
"Final c,~"mcn:J!1tion" is flvcrar:e monthly s'clary (rull tiF.,e rate) €llm"d ollrinr:
that ;"~rio,1 of three c';psocative years of hi,:hoat earnilli~s, excluding overtime
C(\l"".:nensation.
A ",in1"lllm llcrvice rotiro:ficnt allmmnce of ",lOJ per month is [i.t;;.raateed upon
cO"'ll',lB!JJ'y retirorl'.&nt with credit for ;lrior s6rvice.
Dr:),,\ ::!IT..I''!''"'l ~~~"'rr!l?';;'~:IT
An c:r"lloyee beco!ll1nir disabled to the extent that he ill incapablo of perform-
1nl~ his ,4uties $hall be retired for disability. ris disability will Ilo either
ertl?loyroent connected (1n'luatrial disability) or other-olise (noni:,dustria,l rli:;; hili ty).
An 0l:nloy08 who ~com'JS di&sbleil while 11 ;no,,,ber of this Syat-em t'or reMons
8.r11'11n': out of hill en')1oymsnt, 10'111 Da elic1b1o for 11 life incone 01 fUty (50':,)
'p",rcent of Lis final CO~I?Onl:lltion.
~
"," ..
An Elomlo;,reo becomin". diMblerl fer rc"so",s net cOl~nect"d 1o.'ith his emolcy\nent
5",1\11 be 0111'1.\)10 for clifl8bili ty rct.h'/';:nant'Irovi 0cd he has at lennt ',50Q of
accumulnt.erl contributions or "t hHI't 10 Y'jnrs of :>N'vice; such rHsnbility retire-
,wnt nllo',;m'lco in oqual to 1;5;; of fim,t C("'''llerlSntion for been :mur of service,
with 11 nH)':'""F!~tee ,..,r one-third of :$ !ch finul C():~)0nsation for mc!st erruloyees ~'ho
hr.ve !'f\"~er(vl at l,mgt 10 ;le;',rs of service. The "ordinilr;f" dinability re,tire"cnt.
allotlr.l!1ce shall un~-~er no cirC:HiU$tl1~"'CQS e.xccc~ t.i:e nut'vice rct.ire:;;t,Hlt. allo\<;,:uJce
;I!.ieh \lou1d 09CO:\lO fl1lyab1e at, L,!ll ;>J if e"i?leY;iltll1t could be continued to that ar;e.
lY:AT;: ;'!' 'i';?IT.3
Death tJ8f'nro HetJ.re'E~ent
n"sic D,'l:1th :Jenofit This benofit is a rCJfund of the :"~",,ber'8 IiIcc:m:ulutod
c.~.~,tribut.lo~pl.J3 six mcntt~31 salary ;J4ovirleri he h.'%B been a jhC:.10er
for nix :-tears or ;'10r'6. For thGUO who die beiQr~ complotin~~ nix jonrs
of \';(..,;;~borBhi;l, the tonofi t in or:~ l<;c~nt.!~ IS ~t:1Hl.:; for onch Yf:r.Jr of
~w:;ibershi!> :plus rciund of cor;t.rlbution!J. Tho sDlr1.rf rnl'c)rrl';;d to is
that e:u"10d during the ;f"!"r ur(,CUd'll1g death. ;-rior 5(;rv1c(> rlooa not
CO'lnt toward th is be:ilofi t.
In'!\llltrl,!!1 neath If death ill service-connectod in tho jUd,'.r-.ent of the
Itl',ustrial Acci',ent. CocmiS8io!l, a monthly im:ome is ;111id to the ~1Vlow
f<:>r life (or until re"\.~rrin;::e)' inn~,('"d of the r;;""vo basic death ben-
ei'it, or 1957 ,',urvivor ,Jc:nefit. l'ho total '/DuB b<? 5');' 01' "finnl
c""",emmtion". If d,]ath \<110 CEHl6f1d by oxV,'J'oal violence or 'lh:rt':\.cal
force, t.he total bc'\"fit, woul,~ b'~ incrt'u!lod to il,,, followinr :wrcen-
t.1l!C(:!l of "final c"",pensatio:I" 50 loni' /),s the ~iirlo\,' lives nr,d "Des
not r(;mnrry'
I'iidow wi th 3 or Mr8 ciliVron un:ler 13
,ii<JO\l with 2 children un,,,r 18
~a10w wi th 1 clln.., uoner 113
7:;%
70%
62:,%
1957 Survivor "enei'it Em:J1oyees with 5 or nore ysars of Dervioe '-"ho
b~ve rCe1cr.ed tHe r'.ii,nimum n;:~e for 52rv:Lce rntire;:>:ent bave f~~rth{n..
death orotnction Ull'!llr tr:is Hc'1l. h're tho 5urvivin~ ToIinow call
elect to receive either tho ba.sic death bOL<,fit or 11 I',onthly il1-
cono equal to one-;;;,,1f tbe U:l!ClOdi,fied 1:'",:,:.<,,".:<nt all,,;,;ance triO
6"lp1o:ree was elidbVJ for on the dato of hiS dc?.w. nia monthly
inco;f,e llwts until tha Widow'" death or rc:narrioi:o with a ,"llnra:;t.eo
that the "ystOl1l will ,;>ay as much IJ,l;J under tho balllc do',th benefit.
neath After RlltIroment
The
doath benofit is :;500 if <1~)8th occurs ufter I'fltirc:,ent.
will be in 8'jdition to any 'll'.yc1ent& \;i\lch mi<;ht be mtJ.de
{);JUonal rotire:nlHlt banet'it chosen by the ".e,~ber at hill
This li.'\'lount
undor an
retirerr~nt.
~
'.
~ "
TI':t!~_,~n;fl,'rIcm CF t:.~PLc1:~r~,~~'T
Upon ter,~in:;t,ion of em;.loyment, nn 6lvloyoe l!lay either. lelive his contributions
wtth tiio :;ystr.;nn" ,.'....ceive, u:>on att&inln,: rotirel'.unt "."El, the ;"et.iruwnt. b('ll~(dit
:("'''1-\,' '. 37 \o!ithdT'a~1 his c,.ntrib:itions (pl'ls interest) , thus, ter,qia:.t"
" r',. y,f' -':"':3. ~..>,--th0 ;;:rntam an~ recoivin~~ no l"f;t::"reir:.J?nt i;,,,-"r,ofits. ....XCW)t,
(1) n '.i€~.ber . '."".. ) or 1"'''5 in Zlcca:;,'\l;,t.ed c""tributio1\s ",,1'1 ~,i.th less thlln 20
yee.rSl of enrvlcs StlLil not. bl"ve thO Pl'ivilo,.:o ,;.1' l('i'vln:; h:l.~ cQntrlbut:l.ons with tho
'iyatn:n, but ",hall nd,oCIaticallv have his cm:tributio[lS, .)1'-,:" :,n~.oro5t, r(,1undao
u'}on termination of e.'!:)lc..,.""cat and (2) n ~c...be:r w",o in tr"'lSforring to ~"';;;J1C,!'",€lnt
1>11 th an-other ar:enc;1 'k~bich is c"')vored u:\'~:er the s:fato-~ shall not h~!ve the riGht of
withrl1"awlJ1!c hls Ilccumulntcrl ao:<tributio'IS.
r>~ fLrlYW,~ Cf"'-'-f~:.'~ :r':TH'))iS
Fneh 10c<'11 safot.y """;lbor, \lbothor a new me",ber or a TMP\)Gr \dt.h yellrs of mom"
bersr:i", \Jill stnrt c,~,;tributinG at t.he uniform rate of ~Ii'; of l'Blnr/ ISl>rned, exclu"
sive ov ov~rtime, on the date this formula bocomes effective.
Tl:"1 ,l:'l'Jloyer also cOf,tributes tC'.ard the cont of tho bonel'its. Tho amount
conl,rit'uted by thl' "iTlloyer fo': current Il~rvico reti.re.'wnt benefits will, 0:1 the
a.ver~H'r;et exc~1fv1 tl'~0 cost t.o th~ cm-,lo.t0e. Xn add:..tion, the c]plcyor blJC1'5 tLe
entire cost ,,1' ;:>rior service b$!\l,fit:", the in,!\jstrial d(Jat'tl and <:Jil.lability bl;nefits.
I,ll ernl"yor c,'ntribution rate!! are subject to rt,vis.toa by the lir;a.rd <)f
lIdmin.\strstion.