CC RESOLUTION 1851426:
RESOLUTION NO. 1851
RESOLUTION OF THE CITY OF EL SEGUNDO
AUTHORIZING AN AMENDMENT TO THE CONTRACT
PROVIDING FOR THE PARTICIPATION OF THE
CITY OF EL SEGUNDO IN THE STATE EMPLOYEES'
RETIREMENT SYSTEM, MAKING ITS EMPLOYEES
MEMBERS OF SAID SYSTEM.
WHEREAS, the Board of Administration of the State Em-
ployees' Retirement System and the City Council of the City of
El Segundo entered into a contract effective September 1, 1943,
providing for the participation of said City of E1 Segundo in
the State Employees' Retirement System; and
WHEREAS, said contract was amended effective September
1, 1958; and
WHEREAS, said amendment was in error in not clearly
expressing the intention of the parties with respect to the por-
tion of compensation and final compensation subject to the modi-
fied rates and benefits provided therein; and
WHEREAS, Section 20461 of the State Employees' Retire-
ment Law provided that an error made in a contract may be cor-
rected through amendments approved by the adoption of suitable
resolutions by the contracting parties;
NOW, THEREFORE, BE IT RESOLVED, that said City Council
authorize, and it does hereby authorize, an amendment to said
Contract, a copy of said Amendment being attached hereto marked
"Exhibit A", and by such reference made a part hereof as though
herein set out in full; and
BE IT FURTHER RESOLVED, that the City Clerk be, and she
is hereby authorized, empowered and directed to execute said
Amendment for and on behalf of the City of E1 Segundo.
Adopted this 9th day of March, 1959.
A TEST:
,r
Mayor of the CityAf El Segundo,
ctx_ �iLe.�¢sy� Calif or 'a
City Clerk
(SEAL)
9266
"EXHIBIT Alt
AN AMENDMENT TO CONTRACT BETWEEN THE BOARD
OF ADMINISTRATION, STATE EMPLOYEESt RETIRE-
MENT SYSTEM AND THE CITY COUNCIL OF THE CITY
OF EL SEGUNDO
THIS AMENDMENT to the Contract executed on , 1959,
between the BOARD OF ADMINISTRATION of the STATE E DES? RE-
TIREMENT SYSTEM, hereinafter referred to as "Board" and the CITY
COUNCIL of the CITY OF EL SEGUNDO, hereinafter referred to as
"Public Agency ".
W I T N E S S E T H:
WHEREAS, the Board and Public Agency executed an amendment
to said Contract pursuant to Section 21702, Government Code, to
coordinate rates and benefits thereunder with rates and benefits
under Old -Age, Survivors, and Disability Insurance; and
WHEREAS, the plan of coordination in said amendment was in-
tended to provide a reduced benefit formula and a reduced rate
of contribution on that portion of a memberts compensation fall-
ing within the coverage of Old -Age, Survivors, and Disability
Insurance; and
WHEREAS, said amendment provided for such reductions in terms
of the dollar amount of compensation then falling within such
coverage; and
WHEREAS, the Social Security Act has since been amended to
change such amount effective as of January 1, 1959, thereby in-
creasing the benefits to which covered persons will be entitled
and the contributions required of them; and
WHEREAS, the parties anticipate that there will be future
amendments to the Social Security Act changing such amounts; and
WHEREAS, by reason of said change in the Social Security Act
the contract no longer correctly states the intentions of the
parties; and
WHEREAS, the parties desire to amend said contract so that
it will at all times clearly reflect their intention as such
changes occur under the Social Security Act;
NOW, THEREFORE, it is agreed as follows:
1. That paragraph 6c of said contract, as amended effective
September 1, 1958, shall be amended to read as follows:
"6c. The fraction of final compensation specified in
subparagraph 6a. shall be reduced as to service in any
period after September 1, 1958, which was also covered
under Old -Age, Survivors, and Disability Insurance to
1190 for application to that part of final compensation
which does not exceed the monthly equivalent of the
maximum annual amount included in twagest under Section
209, Social Security Act during such period, it being
recognized that such maximum may be changed from time
to time by amendments to said Social Security Act and
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926'7
intended that any such change shall not affect the
amount of the retirement allowance based on service
during any period prior to the date of such change."
2. That paragraph 6f of said contract shall be amended to
read:
116£. Contributions to be made by miscellaneous Group
B members with respect to service rendered after Sep-
tember 1, 1958, shall be at two - thirds the rate pro-
vided in said Retirement Law for the 11 /60' formula
as that rate applies to the monthly equivalent of that
part of the annual compensation which is subject to
contributions under Section 218 of the Social Security
Act at the time such compensation is paid and at 100
per cent of such rate as it applies to the remainder
of compensation."
Witness our hands this day of , 1959•
BOARD OF ADMINISTRATION CITY COUNCIL OF THE
STATE EMPLOYEES' RETIREMENT SYSTEM CITY OF EL SEGUNDO
BY BY
WILL WILLIIM E. PAYNE, EXECUT=FFICER (City Clerk)
- 3 -
3268
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES SS.
CITY OF EL SEGUNDO
I, __. Eunice ... U.-- C-r- easan -------------- - - - - - -- City Clerk of the City of El Segundo,
California, do hereby certify that the whole number of members of the City Council
of the said City is five, that the foregoing ----- .vesolu-�'ion --------- .------------------------ - .,
being ------ was passed and adopted by the said
City Council, approved and signed by the Mayor of said City, and attested by the
City Clerk of said City, all at a regular meeting of the said Council held on the
...... 9th... ... .day of ----------- arch - -------------------- ------- --- 19__59.., and that the same was
so passed and adopted by the following vote
AYES Cou rid lmen -. Baker.,... Frjaderi-ck ,..Meschuk.. and- Maymr.....
B.enfield----- -- --- --- --- ............... - --- -- --- ............ -- -- - - --- --------------- --
NOES Councilmen.... Ua ne ------------------ ----......... - -- - --- ------ - -- --- --- --- --- ......
ABSENT: D.ounci 1mau - -Gor- don ------------------------
------
WITNESS my hand and the official seal of said City this -- 10th-- -- -- -- - - -- -- -day of
--------- Max ch•------ - -- - --- --- -- - --- ---- 19 9...-
City Clerk of the City of
El Segundo, California
(SEAL)