RES-11220 California Public Employees' Retirement System_ Amendment to ContractRESOLUTION NO. 11220
A RESOLUTION OF INTENTION TO APPROVE
AN AMENDMENT TO THE CONTRACT
BETWEEN THE BOARD OF ADMIIVISTRATION
OF THE CALIFORNIA PUBLIC EMPLOYEES'
RETIREMENT SYSTEM AND THE CITY
COUNCIL OF THE CITY OF ORANGE.
WHEREAS, the Public Employees' Retirement Law pemuts 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 goveming body of the public agency of a resolufion 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 21574 (Fourth Level of 1959 Survivor
Benefits) 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 "E chibit" and by this reference made a part hereof.
ADOPTED this 14th day of Apri12020.
Mazk A. urphy, Mayor, Ci q Orange
V
ATTEST:
D o o
Pamela Coleman, City Clerk, City of Orange
I, PAMELA COLEMAN, City Clerk of the City of Orange, Califomia, do hereby certify
that the foregoing Resolution was duly and regulazly adopted by the City Council of the City of
Orange at a regulaz meeting thereof held on the 14th day of Apri12020, by the following vote:
AYES:COLJNCILMEMBERS: Alvazez, Murphy,Nichols,Monaco
NOES:COLTNCILMEMBERS: None
ABSENT: COiJNCILMEMBERS: None
ABSTAIN: COLTNCILMEMBERS: None
I / i .l N.fJ/Gc t1dC yy n
Pamela Coleman, City Clerk, City of Orange
Resolution No. 11220 2
i-.
CaIPERS
EXHIBIT
Caiifornia
Public Employees' Retirement System
AMENDMENT TO CONTRACT
Between the
Board of Administration
Califomia Public Employees' Retirement System
and tt e
City Council
City of Orange
The Board of Administration, Caiifornia 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 July 1,
1958, and witnessed May 13, 1958, and as amended effective October 1, 1966, October
7, 1971, January 16, 1977, August 26, 1979,April 1, 1982, July 24, 1983, March 31, 1985,
December 31, 1989, July 23, 1991, December 7, 1997, July 1, 2000, May 20, 2001,
January 1, 2002, June 29, 2003, June 22, 2012 and April 15, 2018 which provides for
participation of Public Agency in said System, Board and Public Agency hereby agree as
follows:
A. Paragraphs 1 through 16 are hereby stricken from said contract as executed
effective April 15, 2018, and hereby replaced by the following paragraphs
numbered 1 through 16 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 55 for classic
local miscellaneous members, age 62 for new local miscellaneous
members, age 50 for classic local safety members and age 57 for new local
safety members.
5. In addition to the classes of employees excluded from membership by said
Retirement Law, the following ciasses of employees shall not become
members of said Retirement System:
a. ELECTED OFFICIALS HIRED ON OR AFTER JUNE 22, 2072.
6. The percentage of final compensation to be provided for each year of
credited prior and current service for classic local miscellaneous members
in employment before and not on or after June 29, 2003 shall be deiermined
in accordance with Section 21354 of said Retirement Law, subject to the
reduction provided therein for service prior to September 30, 1971,
termination of Social Security, for members whose service has been
included in Federal Social Security (2% at age 55 Full and Modified).
7. The percentage of final compensation to be provided for each year of
credited prior and current service for classic local miscellaneous members
in employment on or after June 29, 2003 shail be determined in accordance
with Section 21354.5 of said Retirement Law, subject to the reduction
provided therein for service prior to September 30, 1971, temiination of
Social Security, for members whose service has been included in Federal
Social Security (2.7% at age 55 Full and Modified).
S. The percentage of final compensation to be provided for each year of
credited prior and current service as a new local miscellaneous member
shall be determined in accordance with Section 7522.20 of said Retirement
Law (2% at age 62 Full).
9. The percentage of final compensation to be provided for each year of
credited prior and current service as a classic Iocal safety member shall be
determined in accordance with Section 21362.2 of said Retirement Law(3%
at age 50 Full).
10. The percentage of final compensation to be provided for each year of
credited prior and current service as a new local safety member shall be
determined in accordance with Section 7522.25(d) of said Retirement Law
2.7% at age 57 Full).
11. Public Agency elected and elects to be subject to the following optional
provisions:
a. Sections 21624 and 21626 (Post-Retirement Survivor Allowance).
b. Section 20042 (One-Year Final Compensation)for classic members
only.
c. Section 20903 (Two Years Additional Service Credit).
d. 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.
15. 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.
16. 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 be effective on the day of
BOARD OF ADMINISTRATION CITY COUNCIL
PUBLIC EMPLOYEES' RETIREMENT SYSTEM CITY OF ORANGE
BY BY
ARNITA PAIGE, CHIEF PRESIDING OFFICER
PENSION CONTRACTS AND PREFUNDING
PROGRAMS DIVISION
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
Witness Date
Attest:
Clerk
AMENDMENT CaIPERS ID#2643484567
PERS-CON-702A