CC RESOLUTION 2618.ICI ..
RESOLUTION NO. 261 �
RESOLUTION OF INTENTION TO APPROVE AN
AMENDMENT TO CONTRACT BETWEEN THE
BOARD OF ADMINISTRA'T'ION OF THE
PUBLIC EMPLOYEES' RETIREMENT SYS'T'EM AND THE
CITY COUNCIL
OF THE
CITY OF EL SEGUNDE)
WHEREA the Pubiic Esip to ees Reti rement Law pe nnits the pa rt ici pa t I on of pub 1 is
agencies and their e- ployeas .in the Public Employeas'l Retirement System
by' the execut ion r a cont ract., and sets forth the procedure by which
said pub.l ¢c- agencies may elect. to subject themselves and the! r employees
to amendvents to said T-iw; and
-
TJF1E RIE A S, one of the s tees 'in the- proce*du re to amend this contract i s- the adoption
b' the legislative body of the public agency-of a resolution 9}v'ing
notice of its intention to approve an amendment to said contract, which
resolution steal 1 c cnta n a suminary .of the changes proposed in said
contract;. and :
ER S, tie fol icing i a stat�t �f the pro sed �ange�
Retirement allowances to which the annual cost -of - living provisions apply,
p;ayabl;� for time co�ncing on the f i rat day of the ca ?enda�. month coiner
c'ding with or next-following the effective cute of this aMendment to r
on account o persons retired or members deceased on or prior" to
Dec embe r 3T, l 9 l O, are hereby increased bar
WHEREAZ,, the e.sy ii'Mate of the cost or' :such change for the public agency is set forth
in a copy of the wa luat ion report attached hereto, -marked "Exhil b i t A"
and a this reference incorporated � .. posted into the . amendment as t��ough thy; re n:
set out in full
N10W THEREFORE Vii: �' R � QED �- � Cit. Caunci1 ' Cit +o
I E L t h- t the o....... o r t i S� �.�...�.�.�.....� .....
Governing Body) - 4a me of Publ iC
El SMundo i s and i t . hereby gives not i ce- of intent i can to approar an
Agency
.s endmaht to the copatract between the EI Se undo Czt: CQUrxci
(Governing Body
ca. iii ���c �"�i �.� �id��titfStration �� 4e • ubI is 4mpl. ees R�'#.t r- ,—M -nt �yStem"
to ,Pccornol l sn the above chance.
Cit ' Council of 11he
ATTEST: (Governing Brody
City.-Of E l S e undo
(Name of Public Xpen +)
City Clerk
(SEAL)
N e)
.,Mayor
(Title)
A.pri 1 15, 197
Oat--_ adopte"d and a roved)
EXHIBIT -A
� +k iiT SYSTEM
PUBL C LiLAUY'.i7 l!3IP t
• ACTUARIAL �,rALUAT IOT TO 1)E z I R, , I� 1�ij� C;4�'T"
UNDER B 135 $ CHAPTEV16 3 2972
(5l Increase)
AGEN -, ..y
NAME: City of El Segundo
AGENCY
NUI-IBEP R: 39
DATE
FEEZUIVRY 97. 197
.
Indicate deJ�..redl �iie k. od of .2.uL�d_t. ,g, the liability for the .T�.l��a'1�. €.: <'A.:��: ��� 0+�✓'�..�i�� respect
to persons retired or rea fibers deceased prior to January 1, 1971:
1M 13ER�MISCELLANEOUS-
1 lii 5 YEARS
i STJH Ia i± i YEA!
10 YEARS
� a�2 %oy
29791 70%
f 22%
5 Ak"'FM ler, MRS
80816 1.+61% 971
„49%
-2-
STATE OF CALIFORNIA
COUNTY'OF LOS ANGELES, SS
CITY OF EL SEGUNDO
I, Valerie A. Burrowes, 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 Resolution,, being Resolution No. 2618
was duly assed and adopted by the said City Council, approved
y 1
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 15th day of April 1915
and that the same was so passed and adopted by the following vote:
AYES: Councilmen Nagel, Rockhold, Stephens,
Van Vranken and Mayor Balmer;
NOES: Councilmen None
ABSENT: Councilmen None
WITNESS MY HAND AND THE OFFICIAL SEAL OF SAID
CITY ..,thic.; 21st day of April 197 5
(SEAL)
11
0
A
City Clerk
of the City of El Segundo, California