ORDINANCE 1416ORDINANCE NO. 1416
AN ORDINANCE AUTHORIZING AN AMENDMENT TO THE
CONTRACT BETWEEN THE CITY COUNCIL OF THE CITY OF EL
SEGUNDO AND THE BOARD OF ADMINISTRATION OF THE
CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM.
The City Council of the City of El Segundo does ordain as follows:
SECTION 1: The attached Exhibit A, an amendment to the contract between the
City Council of the City of El Segundo and the Board of Administration, California Public
Employees' Retirement System, is approved and the Mayor is authorized to execute the
amendment.
SECTION 2: The City Clerk is directed to certify the passage and adoption of this
Ordinance; cause it to be entered into the City of El Segundo's book of original
ordinances; make a note of the passage and adoption in the records of this meeting;
and, within fifteen (15) days after the passage and adoption of this Ordinance, cause it
to be published or posted in accordance with California law.
SECTION 3: This Ordinance will become effective on the thirty -first (31S) day
after its adoption.
PASSED AND ADOPTED this 4th day of Mach , 2008.
APPROVE AS YgF
MARK D. N%EY,,1
By:
/K—art H. Berger,
Kelly McDtwell,
A
istant City Attorney
Page 1 of 2
ATTEST:
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) SS
CITY OF EL SEGUNDO 1
I, Cindy Mortesen, City Clerk of the City of El Segundo, California, do hereby certify that
the whole number of members of the City Council of said City is five; that the foregoing
Ordinance No. 1416 was duly introduced by said City Council at a regular meeting held
on the 6th day of February , 2008, and was duly passed and adopted by
said City Council, approved and signed by the Mayor, and attested to by the City Clerk,
all at a regular meeting of said Council held on the 4 t;b day of March
2008, and the same was so passed and adopted by the following vote:
AYES: McDowell, Busch, Boulgarides, Fisher, Jacobson
NOES: None
ABSENT: None
ABSTAIN: None
Page 2 of 2
A%"e',
Ca1PERS
California
Public Employees' Retirement System
AMENDMENT TO CONTRACT
Between the
Board of Administration
California Public Employees' Retirement System
and the
City Council
City of E1 Segundo
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
October 1, 1943, and witnessed August 25, 1943, and as amended effective November
1, 1947, August 1, 1949, July 1, 1950, November 1, 1955, September 1, 1958, March 9,
1959, November 7, 1964, October 19, 1968, December 11, 1971, July 20, 1974, July
19, 1975, January 3, 1976, July 16, 1977, June 3, 1978, February 6, 1982, April 3,
1982, January 1, 1992, June 27, 1992, May 15, 1993, January 8, 1994, January 19,
1996, April 4, 1997, October 13, 1997, October 7, 2000, December 18, 2000, May 19,
2001 and July 2, 2004 which provides for participation of Public Agency in said System,
Board and Public Agency hereby agree as follows:
A. Paragraphs 1 through 13 are hereby stricken from said contract as executed
effective July 2, 2004, and hereby replaced by the following paragraphs
numbered 1 through 13 inclusive:
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 local miscellaneous members; age 55 for local fire
members and age 50 for local police members.
b. A reasonable amount, as fixed by the Board, payable in one
installment 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
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.
12. 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.
13. 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
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
CITY COUNCIL
C
BY B'
LOR G RTLAND, OHIEF P
EMPLOY5,R SERVICES DIVISION
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
AMENDMENT ER# 0039
PERS- CON -702A (Rev. IW5)
3 -L-(- ag
Witness Date
Attest:
(*� 6YltdiYlrYl r
Clerk