09-84 RESOLUTION NO. 09-84
A RESOLUTION OF INTENTION TO APPROVE A CONTRACT
BETWEEN THE BOARD OF ADMINISTRATION CALIFORNIA PUBLIC
EMPLOYEES' RETIREMENT SYSTEM AND THE CITY COUNCIL OF
THE CITY OF MENIFEE
WHEREAS, the Public Employees' Retirement Law permits the participation of public
agencies in the Public Employees' Retirement System, making their employees members of
said System, and sets forth the procedure by which participation may be accomplished; and
WHEREAS, one of the steps required in the procedure is the adoption by the governing
body of the public agency of a resolution giving notice of intention to approve a contract for such
participation of said agency in the Public Employees' Retirement System, which resolution shall
contain a summary of the major provisions of the proposed retirement plan; and
WHEREAS, attached as Exhibit A is a summary of the major provisions of the proposed
plan; in the form of the contract to be adopted.
NOW THEREFORE BE IT RESOLVED, by the City Council of the City of Menifee that it
does hereby give notice of intention to approve a contract between said governing body and the
Board of Administration of the Public Employees' Retirement System, providing for participation
of said agency in said retirement system, and that a copy of said contract, which is also a copy
of the summary of the major provisions of the proposed plan is attached hereto, as an "Exhibit
A," and by this reference made a apart hereof.
PASSED, APPROVED AND ADOPTED this day of 2009, by the
following votes:
vynolrunu
Ayes: amex, ,
Noes: -nOfu-)
Absent:'nov-)
Abstain:
Lo—
Wallace W. Edger-to ayor
Attest
[Add Certification ]
Kathy Bennett,
City Clerk
Approved As to Form:
hart
Elizab6th Martyn
4820-8010-9827.1
Ca1PERS
EXHIBIT
California
Public Employees' Retirement System
CONTRACT
Between the
Hoard of Administration
California Public lbVloyees' Retirement Syst6m
and the
City council
City of Menifee
e
In consideration of the covenants and agreement hereafter contained and on the part of
both parties to be kept and performed, the governing body of above public agency,
hereafter referred to as "Public Agency', and the Board of Administration, Public
Employees' Retirement System,. hereafter referred to as "Board", hereby agree as
follows:
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 55 for local miscellaneous members.
2. Public Agency shall participate in the Public Employees' Refirement
System from and after 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.
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3. Public Agency agrees to indemnify,defend and hold harmless the
Califomia Public Employees' Retirement System (CaIPERS)and its
trustees, agents and employees,'the CaIPERS Board of Administration,
and the California Public Employees' Retirement Fund from any claims,
demands, actions, losses, liabliities,damages,judgments,expenses and
costs, including but not limited to inteiest, penalties and attorneys fees
that may arise as a result of any of the fallowing:
(a) Public Agency's election to provide retirement benefits,
provisions or formulas-under this Contract that are different than
the retirement benefits, provisions or formulas provided under
the Public Agency's prior non-CaIPERS retirement program.
(b) Public Agency's election to amend this Contract to provide
retirement benefits, provisions or formulas that are different than
existing retirement benefits, provisions or formulas.
(c) Public Agency's agreement with a third party other than
CaIPERS to provide retirement benefits, provisions, or formulas
that are different than the retirement benefits, provisions or
formulas provided under this Contract and provided for under
the California Public Employees' Retirement Law.
(d) Public Agency's election to file for bankruptcy under Chapter 9
(commencing with section 901)of Title 11 of the United States
Bankruptcy Code and/or Public Agency's election to reject this
Contract with the CaIPERS Board of Administration pursuant to
section 365, of Title 11,of the United States Bankruptcy Code
or any similar provision of law.
(e) Public Agency's election to assign this Contract without the prior
written consent of the CaIPERS' Board of Administration.
(f) The termination of this Contract either voluntarily by request of
Public Agency or involuntarily pursuant to the Public Employees'
Retirement Law.
(g) Changes sponsored by Public Agency in existing retirement
bunions er-formulas-made-as-a--result-of
amendments, additions or deletions to Califomia statute or to
—the-Calif6mla-Constitution
4. 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:
i
a. Employees other than local safety members (herein referred to as
local miscellaneous members). }-
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5. Any exclusion(s) shall remain In effect until such time as the Public
Employees'. Retirement System determines that continuing said
exclusion(s) would risk a finding of non-compliance with any federal tax
laws or regulations. If such a determination is contemplated, the Public
Employees' Retirement System will meet with the Public Agency to
discuss the matter and coordinate any required changes or amendments
to the contract.
In addition to the classes of employees excluded from membership by
sald Retirement Law, the following classes of employees shall not become
members of said Retirement System:
a. SAFETY EMPLOYEES.
6. The percentage of final compensation to be provided for each year of
credited prior and current service as a local miscellaneous member shall
be determined in accordance with Section 21354.5 of said Retirement Law
(2.7% at age 55 Full).
7. Public Agency elects to be subject to the following optional provisions:
a. Section 20042 (One-Year Final Compensation).
b. Sections 21624 and 21626(Post-Retirement Survivor Allowance).
8. 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 of said Retirement System.
9. 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 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 miscellaneous members.
sonable a ourk-a"xed-by--the—Board,-payableLAn 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.
C. A reasonable amount, as fixed by the Board, payable an 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.
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 vWthin 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.
BOARD"OF ADMINISTRATION CITY COUNCIL
PUBLIC EMPLOYEES'-RETIREMENT SYSTEM CITY OF MENIFEE
BY c','=: BY
LORI MCGARTLA 1 I E ' PRESIDING OFFIPA.F,`'
EMPLOYES 'IDIVISION °�°`� • .,, >
PUBLIC EIC4 YEES' RETIREMENT SYSTEM
. J t
Witness Date
Attest:
Cleric
NEW AGENCY or91d 13093
PERS-CON-702N(Rev.10105)