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CONTRACT 537O Amendment AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION - PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE CITY COUNCIL OF THE CITY OF EL SEGUNDO The Board of Administration, Public Employees' Retirement System, herein- after referred to as Board, and the governing body of above public agency, hereinafter referred to as Public Agency, having entered into a contract under date of August 25, 1943, effective October 1 , 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 and June 3, 1978, which provides for participation of Public Agency in said System, Board and Public Agency hereby agree as follows: A. Paragraphs 1 through 8 are hereby stricken from said contract as executed effective July,19, 1975, and hereby replaced by the following paragraphs numbered 1 through 11 inclusive: 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 and age 50 for local safety members hired prior to the effective date of this contract amendment and age 55 for local police members hired on or after the effective date of this contract amendment. 2. Public Agency shall participate in the Public Employees' Retirement System from and after October 1 , 1943 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. Local Firemen (herein referred to as local safety members) ; b. Local Policemen (herein referred to as local safety members) ; C. 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: NO ADDITIONAL EXCLUSIONS 4. Effective August 1 , 1974 and prior to January-1 , 1975, those members who were hired by Public Agency on a temporary and/or seasonal basis not to exceed 6 months were excluded from PERS membership by contract. Government Code Section 20336 supersedes this contract provision by providing that any such temporary and/or seasonal employees are excluded from PERS membership subsequent to January 1 , 1975. 5. The fraction of final compensation to be provided for local miscel- laneous members for each year of credited prior and current service shall be that provided in Section 21251 .13 subject to the reduction provided therein for service on and after January 1 , 1956 of members whose service has been included in Federal Social Security. 6 The fraction of final compensation to be provided for each year of credited prior and current service as a local safety member shall be determined in accordance with Section 21252.01 of said Retirement Law (2%o at age 50 Full) , for those local safety members hired prior to the effective date of this contract amendment. 7. The fraction of final compensation to be provided for each year of credited prior and current service as a local safety member shall be determined in accordance with Section 21252.6 of said Retirement Law (2% at age 55 Full) , for those local police members hired on or after the effective date of this contract amendment. 8. The following additional provisions of the Public Employees' Retire- ment Law which apply only upon election of a contracting agency shall apply to the Public Agency and its employees: a. Section 20952.5 (Age 50 voluntary retirement) for local safety members only. b. Sections 21263/21263.1 (Post-retirement survivor allowance), for local safety members only. C. Sections 21380-21387, (1959 Survivors Program), excluding Section 21382.2 (Increased 1959 Survivors benefits). d. Section 21222.1 (Special 5% increase - 1970) . e. Section 21222.2 (Special 5% increase - 1971 ). f. Section 20930.3 (Military service credit) as defined in Chapter 830, Statutes of 1976, for local fire members only. g. Section 20024.2 (One-year final compensation), for local police members only. h. Section 20461 .6 (Reduction of benefits for future employees), applied to Section 21252.1 (2% @ 50) , for local police members only. 9. Public Agency shall contribute to said Retirement System as follows: a. With respect to miscellaneous members, the agency shall con- tribute the following percentages of monthly salaries earned as miscellaneous members of said Retirement System: (1 ) 0.031 percent until June 30, 2000 on account of the liability for prior service benefits. (2) 12.403 percent on account of the liability for current service benefits. (3) 0.006 percent on account of the liability for the 1959 Survivor Program. b. With respect to local safety members, the agency shall contribute the following percentages of monthly salaries earned as local safety members of said Retirement System: (1 ) 0.122 percent until June 30, 2001 on account of the liability for prior service benefits. (2) 31 .322 percent on account of the liability for current service benefits. C. A reasonable amount per annum, as fixed by the Board 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. d. A reasonable amount as fixed by the Board, payable in one install- ment as the occasions arise, to cover the costs of special valua- tions on account of employees of Public Agency, and costs of the periodic investigation and valuations required by law. 10. 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. 11 . 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. B. This amendment shall be attached to said contract and shall be effective on the day of 19-82- Witness our hands the day of 1 19-82- BOARD OF ADMINISTRATION CITY COUNCIL PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF THE CITY OF EL SEGUNDO Carl J. hinges, Exec ive Office° Presiding Officer Approved as to form: Attest: Cy thia G. Beasem.r, Legal Office, Date Clerk PERS CON-702 �„ A C11"