CONTRACT 537S AmendmentCITY CONTRACT NO 2
AMENDMENT TO CONTRACT
BETWEEN THE
BOARD OF ADMINISTRATION
OF THE
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
AND THE
CITY COUNCIL
OF THE
CITY OF EL SEGUNDO
The Board of Administration, Public Employees' Retirement System, hereinafter referred to as Board,
and the governing body of 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 and June 27,
1992, 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 June 27,
1992, and hereby replaced by the following paragraphs numbered 1 through 13 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 members; age 50 for
local police members and those local fire members entering membership prior to April
3, 1982; and age 55 for those local fire members entering membership on or after April
3, 1982.
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 those, which by express provisions
thereof, apply only on the election of a contracting agency.
1 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:
Local Fire Fighters (herein referred to as local safety members);
b. Local Police Officers (herein referred to as local safety members);
C. Employees other than local safety members (herein referred to as local
miscellaneous members).
4. 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
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11. Public Agency shall also contribute to said Retirement System as follows:
a. 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.
b. 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 15th day of May , 193_.
BOARD OF ADMINISTRATION
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
CITY COUNCIL
OF -rva
CIT
BY BY
CHIEF, CONTRACT -R' ICES D- N I N
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
PERS- CON -702 (AMENDMENT)
(Rev. 10/92)
Witness Date
Attest:
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