CONTRACT 537Y AmendmentA4,00""O"l-
CaIPERS
VA
California
Public Employees' Retirement System
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Between the
Board of Administration
California ]Public Employees' Retirement System
and the
City Council
City of El Segundo
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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 and October 7,
2000 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
October 7, 2000, 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 and age 50 for local safety members.
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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:
a. 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
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 superseded
this contract provision by providing that any such temporary and /or seasonal
employees are excluded from PERS membership subsequent to January 1,
1975. Legislation repealed and replaced said Section with Government Code
Section 20305 effective July 1, 1994.
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 21354 of said Retirement Law, subject to the
reduction provided therein for service on and after July 1, 1956, the effective
date of Social Security coverage, for members whose service has been
included in Federal Social Security (2% at age 55 Full and Modified).
7. The percentage of final compensation to be provided for each year of credited
prior and current service as a local fire member shall be determined in
accordance with Section 21362 of said Retirement Law (2% at age 50 Full).
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8. The percentage of final compensation to be provided for each year of credited
prior and current service as a local police member shall be determined in
accordance with Section 21362.2 of said Retirement Law (3% at age 50 Full).
9.. Public Agency elected and elects to be subject to the following optional
provisions:
a. Sections 21624 and 21626 (Post- Retirement Survivor Allowance) for
local safety members only.
b. Section 21571 (Basic Level of 1959 Survivor Benefits) for local
miscellaneous members only.
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 21024 (Military Service Credit as Public Service), Statutes of
1976.
f. Section 20042 (One -Year Final Compensation).
g. Section 21573 (Third Level of 1959 Survivor Benefits) for local fire
members only.
h. Section 21574 (Fourth Level of 1959 Survivor Benefits) for local police
members only.
10. 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.
11. Public Agency shall also contribute to said Retirement System as follows:
a. Contributions required per covered member on account of the 1959
Survivor Benefits provided under Section 21573 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 fire members.
b. Contributions required per covered member on account of the 1959
Survivor Benefits provided under Section 21574 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.
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C. 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.
d. 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 18TH day of DECEMBER 2000
BOARD OF ADMINISTRATION
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
BY
KE 'N JH. AR ION, CHIEF
ACTT UAR& EMPLOYER SERVICES DIVISION
PUBLIC LOYEES' RETIREMENT SYSTEM
AMENDMENT
PERS- CON -702A (Rev. M96)
CITY COUNCIL
CITY OF EL S UNDO
BY
PRES I TG OFFICER
9TH DAY OF NOVEMBER 2000
Witness Date
Attest:
ul
Clerk