HomeMy WebLinkAboutOrd 24-82 PERSl
ORDINANCE NO. 24
AN ORDINANCE OF THE CITY OF DUBLIN
AUTHORIZING THE ADOPTION AND EXECUTION
OF A CONTRACT BETWEEN THE CITY OF DUBLIN
AND THE BOARD OF ADMINISTRATION OF THE
CALIFORNIA-PUBLIC EMPLOYEES' RETIREMENT SYSTEM
THE-CITY COUNCIL OF THE CITY OF DUBLIN DOES ORDAIN AS FOLLOWS:
Section 1. ADOPTION OF CONTRACT
The adoption.of the Contract, a copy of
which is attached hereto as "Exhibit A" and incorporated
herein, between the City Council of the City of Dublin and
the Board of Administration of the California Public Employees'
Retirement System is hereby authorized.
Section 2. ..EXECUTION OF CONTRACT
The Mayor of the City of Dublin is hereby
authorized, empowered and directed to execute said Contract
for and on behalf of the City of Dublin.
Section 3. EFFECT; POSTING
This Ordinance shall take effect thirty (30)
days after the date of its adoption, and prior to the expira-
tion of fifteen (15) days from the passage thereof, the City
Clerk of the City of Dublin shall cause this Ordinance to be
posted in at least three (3) public places in the City of
Dublin in accordance with Section 38933 of the Government
Code of the State of California.
PASSED AND ADOPTED by the City Council of the City
of Dublin on this 13th day of December 1982, by the
following votes:
AYES: Cm. Burton, Hegarty, Jeffery and Mayor Snyder
NOES: Cm. Moffatt
ABSENT: None
i�
V
May 6r
Attest:
By_
e -.cX
City Clerk
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CONTRACT
BETWEEN THE
BOARD OF ADMINISTRATION
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
AND THE
CITY COUNCIL
OF THE
CITY OF DUBLIN
In consideration of the covenants and agreement hereafter contained and on
the part of both parties to be kept and performed', the governing body of above
public agency, hereafter referred to as "Public Agency ", and the Board of
Administration, Public Employees' Retirement System, hereafter referred to as
"Board ", hereby agree as follows:
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 February 1, 1983 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 such as by
express provisions thereof apply only on the election of contracting
agencies.
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).
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:
ELECTED OFFICIALS
4. The fraction of final compensation to be provided for each year of
credited prior and current service as a local miscellaneous member
shall be determined in accordance with Section 21251.13 of said
Retirement Law (2% at age 60 Full).
Exhvn;r A-
5. Public Agency, in accordance with,Section 20759.1 Government Code,
shall not be considered an "employer" for purposes of Chapter 6 of the
Public Employees' Retirement Law. Contributions of the Public Agency
shall be fixed and determined as provided in Section 20759, Government
Code, and such contributions hereafter made shall be held by the Board
as provided in Section 20759, Government Code.
6. Public Agency shall contribute to said Retirement System as follows:
a. With respect to miscellaneous members, the agency shall contri-
bute the following percentages of monthly salaries earned as
miscellaneous members of said Retirement System:
(1) 0.073 percent until June 30, 2007 on account of the
liability for prior service benefits.
(2) 7.065 percent on account of the liability for current
service benefits.
b. A reasonable amount, as fixed by the Board, payable in one in-
stallment 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 in-
stallment 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.
7• 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.
S. Contributions required of Public Agency and its employees shall be
paid by Public Agency to the Retirement System within thirty .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, or
adjustments on account of errors in contributions required of any
employee may be made by direct cash payments between the employee and
the Board. Payments by Public Agency to Board may be made in the form
of warrants, bank checks, bank drafts, certified checks, money orders
or cash.
Witness our hands the
BOARD OF ADMINISTRATION
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
BY
CARL J. BLECHINGER, EXECUTIVE OFFICER
Approved as to form:
C thia G. B sem6r, Legal Office, Date
day of 7 > 9
CITY COUNCIL
OF THE
CITY OF DUBLIN
BY
Presiding Officer
Attest:
Clerk
PERS CON -702
SUMMARY OF MAJOR PROVISIONS
2% Q 60 (1/50) Retirement Program
Focal Miscellaneous Members
SERVICE RETIREMENT
The earliest retirement is age 50; the normal retirement age is 60; and the
compulsory retirement age is 70. An employee may retire any time between these
,.ages, 50 and 70, provided he meets the minimum requirements that he either have
five years of service or have attained the compulsory retirement age of 70.
The monthly income is determined by age
service, and "final compensation ". The
compensation" for each year of credited
retirement is earlier than age 60 the p
each year of service are decreased. If
the percentages of "final compensation"
age 63.
at retirement, years of credited
basic benefit will be 2% of "final
service upon retirement at age 60. If
ercentages of "final compensation" for
retirement is deferred beyond age 60,
for each year of service increases to
"Final compensation" is the average monthly salary (full --time rate excluding
overtime) earned either during (1) the final 36 consecutive months unless
member specifically requests another 36 consecutive month period, or (2) if
provided by your agency by contract amendment, during the final 12 consecutive
months unless member specifically requests another 12 consecutive month
period.
DISABILITY RETIREMENT
An employee becoming disabled to the extent that he is incapable of performing
his duties shall be eligible for disability retirement provided he has at least
five years of service. The monthly retirement allowance is 1.80/0 of "final
compensation" for each year of service with a minimum guarantee of one -third of
final compensation for most employees who have rendered at least 10 years of
service. (If provided by your agency, the benefit would be a minimum of 30� of
final compensation for five years of service and 1% of final compensation for
each additional year of service to a maximum benefit of 500 of final compensa-
tion). The disability retirement allowance shall under no circumstances exceed
the service retirement allowance payable upon retirement for service at age 60
if employment could be continued to that age.
DEATH BENEFITS
Death Before Retirement
Basic Death Benefit: This benefi t
contributions plus interest and up
month's salary rate for each year
six months).
is a refund of the member's
to six month's pay (the sum of one
of current service to a maximum of
v
1957 Survivor Benefit: Members who are eligible to retire at the
time of death have further death protection under this item. The
beneficiary can elect to receive either the basic death benefit or the
1957 Survivor Benefit. This benefit provides a monthly allowance
equal to one -half of the unmodified allowance the member was eligible
for on the date of death. This monthly allowance will be paid to the
surviving spouse until death or remarriage, or to eligible children
until marriage or 18.
Death After Retirement
The death benefit is $500 (or if provided by your agency by contract
amendment, $600). This amount will be in addition to any payments which
might be made under an optional retirement benefit chosen by the member at
time of retirement.
TERMINATION OF EMPLOYMENT
A member with five or more years of service may either leave his contributions
with the System and receive upon attaining retirement age the retirement
benefit he has earned, or he may withdraw his contributions plus interest
through the June 30th before the refund is processed thus terminating his
membership in the System and receiving no retirment benefits. Except (1) a
member with less than five years of service shall not have the privilege of
leaving his contributions with the System but shall automatically have his
contributions plus interest through the June 30th before the refund is
processed refunded upon termination of employment, and (2) a member who is
transferring to employment with another agency which is covered under the
System shall not have the right of withdrawing his accumulated contributions.
EMPLOYEE CONTRIBUTIONS
Each miscellaneous member, whether a new member or a member with years o®arned
membership, will start contributing at the uniform rate of 7% of salary >
exclusive of overtime, applied against gross salary.
The employer also contributes toward the cost of the benefits. The amount
contributed by the employer for current service retirement benefits will, on
the average, exceed the cost to the employee. In addition, the employer bears
the entire cost of prior service benefits.
All employer contribution rates are subject to revision by the Board of
Administration.
C1001 /Full (Rev. 4/82)
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