AGR-0281.18 - CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM - PUBLIC EMPLOYEES RETIREMENT SYSTEMA6 R-oa$.i8
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Ca1PERS
California
Public Employees' Retirement System
d 1 1 1 A
Between the
Board of Administration
Caiifornia Public Employees' Retirement System
and the
City Council
City of Orange
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 Jufy 1,
1958, and witnessed.May 13; 1958, anii as amended effective October 1, 1966, October
7, 1971,January 16, 1977, August 26, 979, April 1, 1982,July 24; 1983, March 31, 1985,
December 31, 1989, .July 23, 199,1, December 7, 1997, July i, 2000, May 20 2001,
January t, 2002, .lune 29, 2Q03 June 22, 2012 and April 15, 2018 which provides for
participation of Public Agei cy in said System, Board and Public Agency hereby agree as
foilows:
A. Paragraphs 1 through 16 are hereby stricken from sa'sd contract as executed
effective April 15, 2018; and hereby replaced by the following paragraphs
numbered 1 through i 6 inclusive:
7. All words and terms used herein which are defined in the Pubiic Employees'
Retirement Law shall have tiie meaning as defined therein unless otherwise
specifically,provided. "Norrrial ret'trement age"shall mean age 55 for ciassic
local miscellaneous members, age 62 for new local miscellaneous
members, age 50 far classic local safety members and age 57 for new local
safety members.
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2. Public Agency sfiall participate in the Public.Employees' Retirement System
from and after July 1, 1958 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 hereir 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.
3. Public Agency agrees to indemnify, defend and hold harmless the Califomia
Public Employees' Retirement System (CaIPERS) and its trus4ees, agents
and employ es; the CaIPERS Board of Administration, and"the Califomia
Public Employees' Retirement Fund from any claims, demands, actions,
losses, Iiabilities,.damages, judgments, xpenses and, costs, including ut
not limited to interest, penalties and attorney fees that may arise as a result
of.any of the following: ;
aj Pu61ic Agency's election to provide retirernent benefits,
provisions or formufa"s uncie"this Contract that are:different thanlthe:retirement benefits,provisians`orforrnulas provid d underthe
Public Agency's prior non-CalPEFtS retirement prograrri.
b) Any dispute, disagreement, alaim, or proceeding {including
withou# limitatian arbitration, administrative hearing; or litigation)
between Public Agency and its empfoyees (or their
representatives) which relates to Public Agency's electian to
amend.ttiis Gontract to provide reti ement benefits, provisions or
formulas thaf a e diffierent than such employees' existing
retirement benefits, provisions or formulas.
c} Public Agency's agreement with a#hird party otherthan CaIPERS
to provide, retirement benefits, provisions, or formulas that are
differ nt than the retirement benefits, pravisions or formulas
pravided underthis Contract and provided forunderthe Califomia.
Public Employees' Retirement Law.
4. Employees of Public Ag ncy in the following classes shall become
rnembers of said.Retirerinent System except such in each sucfi class as are
excluded by law or this agre ment:
a. Local Fire Fighters (herein referred to as loca( safety members);
b. Local Police Officers (herein referred to as local safety mernbers);
c. Employees other than local safety members (herein referred to as
Iocal miscellaneous members).
5. In,additiorr ta the;classes of employees excluded from rriembership by saidRetirementLaw,, the .folfowing classes of employees. sF all .not becomemembersof'said:Retirement;System:
a. ELEGTED OFFIC[ALS HIRED ON OR AFTER JUNE 22, 2Q12.
6: The percentage of:final compensation t`o be proV'rded'for each year ofcreditedpriorandcurren# service for classic.local miscelfaneous.mem iers
in employmentebefore,and nof on or after,June-29, 2003 shall'be cfetermined
in accordance with Section 21354.of said Retirement Law,subject to the " reduction ;provided therein for service prior to September .30, 1971, termination of Socia( Security; ,for members ,wfiose service has lieen '
included in'Fetle;ral Social Security (2°lo af agLLe 55,Full antl Motlif'ied}.
7. ,The percentage of final cornPensation 'to ,be provided for each year of,. . credited.prior arid current seryice#or,classic local'miscellaneoys membe s
in employment on or after June 29;2003 sFiail be detemiined in accordance
wifh Section;,21354 5 of said 'Retirement Law, subjec# .fo the°reduction
proyided therein for service prior'.#o.September 30, 971, terrninatiori of,
Social:Security, for me'rribers;irvhose seniice has been_=in clud d in'Federal. Social Security (2:7'/o at age 55 Full arid Modified).,
8. Th e perc ntage of, finaL compensation: ta be,provided for each' year,.of .credited rior antl current service.;as a new 1oca1 miscellaneoys-memberP
shall be determine:d m accordance;,with Section 7522.2p of said Retirement
Law(2°l at age fi2?Fulf):;,
9. The - ercentage a f' pcredited ,rior and:current servic
nsation to ,be rovided „for each 'year of.. ; _p final .compe
P e as a class c.local safety mernaer shalf be
dete rmined in accordance;with'Section 21362:2 of said Retirement l.aw (3%at age 50 Full).
10. The percentage of fmaf compensation to be provided- for each year ofcretlitedprior`.and current service`as a new local safety member shall be,
determined in accordance with Section 7522:25(d) of said:Retirement Law2:7°ro-at age 57 Full):
11. iPublic Agency elected and elects to be subject to the following`.optionalprovisions:
a.,' `Sections 21624 and 21626 (Post-Retirement Survivor Ailawance), '
b. -Section 20042(Qne-Year Final Compensation) for classic memb er's
only
c. Section 2Q903 (Two Years`Addi#iona(Service Credit): .
d. Sec#ion 20516 (Employees Shiaririg Cost of Additional Benefits):
Section 21354 (2% @,55 Fu11 and Modified) for local miscellaneous
members. From:and after D,ecember 7, 1997 and until July 1, 2000
the rniscellaneous employees of Public Agency shall be assessed an
additional 4% of.their compensation for a total contribution rate of11%,pursuant to Govemment Code Section 20516,
e. Section 21024 (Military Service Credi# as Public Service).
f.Sectlon 21027 {Military Service Credit for.Retired Persons).
g. Section"21574 (Fourth Level of 1959 Survivor Benefits).
12: Public Agency,, in, accordance irvith. Government Cade Section .20790,
ceased to. be,:an. "employer" .for purposes,of Section .20834 effectiv,e .on
January`16, y 977. Accumulated contributions of Public Agency;shall be
fixed and determined as provided in Govemmen#Code Section 20834,and
accumulated contributions thereafter shall be held_by the Board as providedinGoverrimentCode'Section 20834.
13: . Public Agency shafl contribute ta said Retirement System the contributions .
determined by actuariaf valuations of prior and _future.service liability with
r.espect to local miscellaneous mernbers and local safety.mernbers of saidRetirementSystem.. ,
14. 'Public Agency,shalJ also.contribute to said Re#irement, System.as folfows:
a. Coiitributions re,quired per covered member an account of the 1959
Survivor Benefits pravided under Section 21573 of said RetirementLaw. (Subjectto annual"change.) !n addition;all assets and liabilities
of Public Agency ,and;its employees shall be poaled in a single
account, based on term insurance rates; for survivors of all local
miscellaneous rnembers.
b: Contributions required per covered inember on account of the 1959
Survivor Benefits provided uncier Section 21574 of said Retir'ement
Law. (Subject tb annual change:) In addition,all assets and liabilities
of Public Agency and its employees shal! be poolec! in .a single
account, based; on term insurance ,rates, for sunrivors of all (ocal
safety members.
c. A reasonable amount, as fixed by the Baard; payable in one
installmenf witfiin 60 days of date of. con#ract 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.
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d. A reasonable amount, as fixed by the Board, payable in one
instaflment as the ocoasions arise, to cover the costs of special
valuations on accbunt of employees.of Pubiic Agency, and costs of
the periodic investiga#ion and valuations required by.law.
15: Contributions required of Public Agency and its em pfoyees shall be subject
ta adjustment by Board on account of amendments to the Public
Employees' Retiremen# Law, and on account of the experience under #he
Retirement System as determined by the periodic investigatian and
valuation.required by said Retirement Law.
i 6: , Cantributions.required of Public Agency and its employees shall be paid byPubEicAgencytotheRe#irement System'witfiin fifteen days aftertFie end of
the period to which said; contributions refer or as may be, prescribed byBoardregulation. lf more or less than the correct amount af contribu#ions
is paid for any period, proper adjustmenf 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 #he
employee arid the Board.
B. This amendment shall be effective on"the a1s` day of an..a,qa.o:
BQARD QF ADMINISTRATION CITY COUNCIL
PUBLIC EMFLOYEES' RETIREMENT SYSTEM CITY OF ORANGE
BY- Arnita Pzige(Jun 9,202008:40 PDT)
Y
ARNITA PAlGE, CHIEF PRESIDI ' G OFFICER
PENSfON CONTRACTS AND PREFUNDING
PROGRAMS DIVISION
PUBLIC EMPLQYEES' RETfREMENT SYSTEM
ao
Witness D`ate
Aftest:
C(erk
AMENDMENT CalPERS IU N2643484567
PERS•CON-7d2A