CONTRACT 537 Other39
STATE E....PLOYEES' RETIREMENT JYSTEM
SACRAMENTO, CALIFORNIA og iG, 1,..) F L A� (ES- r-I-AJ i
Zontrat
BETWEEN
NAME OF LEGISLATIVE BODY
OF
CITY QF L.__BEGI ND_C
NAME OF MUNICIPAL CORPORATION
AND THE
BOARD OF ADMINISTRATION
OF THE
CALIFORNIA STATE EMPLOYEES' RETIREMENT SYSTEM
this agreement made this 25 th day of , 194 _3_, by and between
the Legislative Body of_ _____
_____�'�TY�F_i_
None of Municipal Corporation
hereafter referred to as "City," and the Board of Administration, California State Employees' Retirement System, hereafter
referred to as "Board."
WITNESSETH:
In consideration of the covenants and agreements hereinafter contained and on the part of both parties to be kept
and performed, City and Board hereby agree as follows:
1. City is to participate in the State Employees' Retirement System, subject to the provisions of the State Employees'
Retirement Act.
2. City shall participate in said Retirement System, making its employees members of said System, from and
after___.Q_C_C- b:,,,2^__ ?. a t , 194 -3
3. Employees of City in the following classes shall become members of said Retirement System in accordance with
the provisions of said Retirement Act, governing membership in said Retirement System, and subject to the further exclusions
from membership in the next following sentence:
CLASSES OF EMPLOYEES
a. City Firemen, as defined in Section 8c of the
State Employees' Retirement Act . . .
NUMBER OF EMPLOYEES
ELIGIBLE FOR MEMBERSHIP
October let 3
194
0
b. City Policemen, as defined in Section gb of
the State Employees' Retirement Act . ,.._._..... .............. r ......_..,...........,...
c. Employees other than City Firemen and City F%
Policemen . . . . » ......................a...
MINIMUM AGE
FOR VOLUNTARY
SERVICE RETIREMENT
eo
As provided in the Retirement Act
In addition to the employees excluded from membership by said Retirement Act, the following employees shall not
become members of the Retirement System:
F. 126. SS242 s_ao 300
STATE FAINTING OFFICE
3.Con-
tinued
3a. The provisions of Section 34 of the State Employees' Retirement Act,
shall apply to employees of City, who become members of said Retirement System.
3. Continued from page 1
:) E:.0
C Im. _
— .y- y . ,
Board and City agree that, except as provided in paragraph 5, no adjustment shall be made in the amount of contributions
provided in paragraph Sa, on account of prior service, or in the percentage provided in paragraph 5b, because of variations
in the numbers of employees who become members of said Retirement System on the effective date hereof, from the numbers
listed above, due to termination of service by such causes as death, resignation or discharge, or the employment of individuals
not included in said numbers.
ace abo-ry
gene �ncs on account of prior service, that is, service credited hereunder as rendered to City prior to the effective
date hereof /4 be allowed to city firemen and city policemen and to other employees, only as percentages of the respective
average aries specified in said Retirement Act, for each year of such service, and said percentages shall be equal to
...__1O 0..,.per cent of the analogous percentages now used under said Retiirernent. System in calculating' benefits on account of
prior service, allowed to members of the California State Highway Patrol and to other employees of the State of California,
respectively.
5. City shall contribute to said Reti meat System as follows:
a. The sum of $,..4..i211_..9Cper, annum, payable in equal monthly or less,frequent installments as Board shall
require, for a period of_.2.55_/ -- ..years, on account of the liability for benefits based on service rendered to
City priori the effective date hereof.
b. 2_..Q.,,.s5i..per cent of total salaries paid by City each month to its employees who are members of said
Retirement System, provided that only salary earned as members of said System shall be included in said
total salaries, and that employees who are members of said System shall include employees who become
members upon the effective date hereof and employees who become members thereafter.
c. A reasonable amount as fixed by Board, payable in equal monthly or less frequent installments, as Board
shall require, to cover the costs of administering said System as it affects the employees of City, not including
the costs of special valuations or ji3e periodical investigation and valuation required by law, provided that
said amount shall not exceed 5' per fiscal year per member, on the basis of the number of employees
of City who are members on July 1st of the respective fiscal years, or with respect to the first year of
participation, on the effective date of said participation.
d. A reasonable amount as fixed by the Board, payable in one installment from time to time as the occasions
arise, to cover the costs of special valuations on account of employees of City and the costs of the periodical
investigation into the experience under said Retirement System, as it affects said employees, and the valua-
tion of the assets and liabilities of said System on account of said employees.
Contributions required of City and its employees shall be subject to adjustment by the Board of Administration on
account of amendments to the State Employees' Retirement Act, and on account of experience under the Retirement System,
as determined by the periodical investigation, valuation and determination provided for by said Retirement Act.
6. Contributions required of City under paragraph 5 immediately preceding, and contributions required of City's
employees who are members of said System, shall be paid by City to the State Employees' Retirement System within thirty
days after the end of the month or longer period to which said contributions refer. If more or less than the correct amount
of contribution required of City or its employees is paid for any period, proper adjustment shall be made in connection with
subsequent remittances of the City to the Board, to rectify the errors; or such adjustments on account of errors made in
contributions required of employees, may be made by direct cash payments between the employee in connection with whom
the error was made, and Board. Payments of City to Board may be made in the form of warrants, bank checks, bank drafts,
certified checks, money orders, or cash.
WITNESS OUR HANDS the day and year first above written.
ATTEST:
BOARD OF ADMINISTRATION
STATE EMPLOYEES' RETIREMENT SYSTEM
Bti.......a_.-- <_m.. ,_..m . .. ..........r.
BOARD OF ADMINISTRATION Preside„ t
C T: COUNCIL .... ....... ......m...............of
Name of Legislative Body
CITY CF SEGUNDO, CALIFORNIA,
Name of C„i
csirtios Officer