CONTRACT 537U Amendment® .
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, June 27, 1992,
May 15, 1993 and January 8, 1994, 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 January 8,
1994, and hereby replaced by the following paragraphs numbered 1 through 12 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 60 for local miscellaneous members and age 50
for local safety members.
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.
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:
Local Fire Fighters (herein referred to as local safety members);
b. Local Police Officers (herein referred to as local safety members);
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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5, 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.
6. The percentage of final compensation to be provided for local miscellaneous members for
each year of credited prior and current service shall be determined in accordance with
Section 21251.13 of said Retirement Law, subject to the reduction provided therein for
service on and after January 1, 1956, the effective date of Social Security coverage for
members whose service has been included in Federal Social Security (2% at age 60 Full
and Modified).
7, The percentage 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% at age 50 Full).
8. Public Agency elected and elects to be subject to the following optional provisions:
a. Sections 21263/21263.1 (Post- Retirement Survivor Allowance) for local safety
members only.
b. Section 21382 (Basic Level of 1959 Survivor Benefits) pursuant to Article 6
(commencing with Section 21380).
C. Section 21222.1 (Special 5 % Increase - 1970). Legislation repealed said Section
effective January 1, 1980.
d. Section 21222.2 (Special 5 % Increase - 1971). Legislation repealed said Section
effective January 1, 1980.
e. Section 20930.3 (Military Service Credit as Public Service). Statutes of 1976.
f. Section 20024.2 (One -Year Final Compensation).
g. Section 21382.4 (Third Level of 1959 Survivor Benefits) pursuant to Article 6
(commencing with Section 21380) for local police members only.
9. Public Agency shall contribute to said Retirement System the contributions determined
by actuarial valuations of prior and future service liability with respect to local
miscellaneous members and local safety members of said Retirement System.
10. Public Agency shall also contribute to said Retirement System as follows:
Public Agency shall contribute $2.00 per member,-per month on account of the
liability for the 1959 Survivor Benefits provided under Section 21382.4 of said
Retirement Law. (Subject to annual change.) In addition, all assets and
liabilities of Public Agency and its employees shall be pooled in a single account,
based on term insurance rates, for survivors of all 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.
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.
11. 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.
12.
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.
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B. This amendment shall be effective on the 19th
BOARD OF ADMINISTRATION
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
BY
CHIEF A UARY
ACTUARIAL OFFICE
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
AMENDMENT
PERS- CON -702A (Rev. 3/95)
day of
CITY COUNCIL
OF THE
CITY OF EL SEOUNIO
BY
Presiding Offizc - --
_ G
S
Witness Date