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With respect t° local ty meabera, the agency shall contribute <br />the follOWing percent~ee 6f monthly salaries earned as 16cml <br />safety members of oa£d Retirement System: <br /> <br />0.0~7 percent until June ~0, 2000 6n account of the <br />liability for prior service benefits. <br /> <br />(2) 28.179 percent on acc$unt of the liability for current <br /> service benefits. <br /> <br />Ce <br /> <br />A reasonable amount per Annum, as fixed by the Board to cover the <br />costs of administering said System as it affects the employees of <br />Public Agency, not including the costs of special valuatlons or <br />Of the periodic investigation and valuati6ns required by law. <br /> <br />A reasouable amount as fixed by the Board, payable in one install- <br />ment as the occasions arias, to covet the costs of specia~ valua- <br />tions on account of employees of Public Agency, and costs'of the <br />periodic investigatiou and valuations required by law. <br /> <br />IO. <br /> <br />Contributions required of Public Agency and its employee? shall be <br />subject to adjustment by Board on account of amendments to the Public <br />Employees' Retirement Law, and on account of the experience under the <br />Retirement System as determined by the periodic investigation and <br />valuation required by said Retirement Law. <br /> <br />Contributions required 6f Public Agency and its employees shall be <br />paid by Public Agency to the Retirement System within thirty days <br />after the end of the period to which said contributions refer or as <br />may be prescribed by Board re~:lation. If more or less than the cor- <br />rect amo,~nt of contribut[0ns is paid for any period, prope~ adjustment <br />shall be made in connection with subsequent remittances, o~ adjust- <br />meats on account Of errors in contributions required of any e~ployee <br />may be made by di~ec~ cash payms.a~s beS~eea the employee and the <br />Board. Payments by Public Agency to Board may be made in the fo~m of <br />warrants, bank checks, bank drafts, certi~ied checks, mosey o~ders or <br />cash. <br /> <br /> the day cC <br />Witness our hands the <br /> <br />BOARD OF ADMINISTRATION <br />P~bIC E~PLOTEES' RETIREMENT STSTMM <br /> <br />This ameadmeat shall be attached to said co~tract and shall be effective on <br /> <br />Carl J. Blechimge~, Executive 0ff~ce~ <br /> <br />Approved as tO loom: <br /> J <br /> <br />day of <br /> <br />CITY COUNCIL <br />OF THE <br />C~T¥ OF SANTA <br /> <br />PERS C0N~702 <br /> <br /> <br />