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In addition to the employees excluded from membership by said Retirement Act, the following employees shall not
<br />become members of the Retirement System:
<br />
<br />NO ADDITIONAL EX~LUSIONS
<br />
<br />Board and City agree that, except as provided in paragraph 5, no adjustment shall be made in the amount of contributions
<br />provided in paragraph Sa, on account of prior service, or in the percentage provided in paragraph 5b, because of variations
<br />in the numbers of employees who become members of said Retirement System on the effective date hereof, from the numbers
<br />listed above, due to termination of service by such causes as death, resignation or discharge, or the employment of individuals
<br />not included in said numbers.
<br />
<br /> 4. Benefits on account of prior service, that is, service credited hereunder as rendered to City prior to the effective
<br />date hereof, shall be allowed to city firemen and city policemen and to other employees, only as percentages of the respective
<br />average salaries specified in said Retirement Act, for each year of such service, and said percentages shall be equal to
<br />].0~ ..... per cent of the analogous percentages now used under said Retirement System in calculating benefits on account of
<br />prior service, allowed to members of the California State Highway Patrol and to other employees of the State of Calitornia,
<br />respectively.
<br />
<br /> 5. City shall contribute to said Retirement System as follows:
<br /> a. The sum of $~$ ~35.~r annum, payable in equal monthly or less frequent installments as Board shall
<br /> require, for a period oL_-~-5~ ...... years, on account of the liability for benefits based on service rendered to
<br /> City prior to the effective date hereof.
<br /> b. ~_,~3~per cent of total salaries paid by City each month to its employees who are members of said
<br /> Retirement System, provided that only salary earned as members of said System shall be included in said
<br /> total salaries, and that employees who are members of said System shall include employees who become
<br /> members upon the effective date hereof and employees who become members thereafter.
<br /> c. A reasonable amount as fixed by Board, payable in equal monthly or less frequent installments, as Board
<br /> shall require, to cover the costs of administering said System as it affects the employees of City, not including
<br /> the costs of special valuations or of the periodical investigation and valuation required by law, provided that
<br /> said amount shall not exceed $ 2;_.0_._0__ per fiscal year per member, on the basis of the number of
<br /> employees of City who are members on July 1st of the respective fiscal years, or with respect to the first
<br /> year of participation, on the effective date of said participation.
<br /> d. A reasonable amount as fixed by the Board, payable in one installment from time to time as the occasions
<br /> arise, to cover the costs of special valuations on account of employees of City and the costs of the periodical
<br /> investigation into the experience under said Retirement System, as it affects said employees, and the valua-
<br /> tion of the assets and liabilities of said System on account of said employees.
<br /> Contributions required of City and its employees shall be subject to adjustment by the Board of Administration on
<br />account of amendments to the State Employees' Retirement Act, and on account of experience under the Retirement System,
<br />as determined by the periodical investigation, valuation and determination provided for by said Retirement Act.
<br />
<br /> 6. Contributions required of City under paragraph 5 immediately preceding, and contributions required of City's
<br />employees who are members of said System, shall be paid by City to the State Employees' Retirement System within thirty
<br />days after the end of the month or longer period to which said contributions refer. If more or less than the correct amount
<br />of contribution required of City or its employees is paid for any period, proper adjustment shall be made in connection with
<br />subsequent remittances of the City to the Board, to rectify the errors; or such adjustments on account of errors made in
<br />contributions required of employees, may be made by direct cash payments between the employee in connection with whom
<br />the error was made, and Board. Payments of City to Board may be made in the form of warrants, bank checks, bank drafts,
<br />certified checks, money orders, or cash.
<br />
<br /> 7. The provisions of Section_ ~ of the State Employees' Retirement Act shs, l! ....
<br />apply to employees of Subdivision, who become members of said Retirement System. "shall" or "shall not"
<br />
<br />WITNESS OUR HANDS the day and year first above written.
<br />
<br />Clerk
<br />
<br />Presiding O~ticer
<br />
<br />ATTEST:
<br />
<br /> BOARD OF ADMINISTRATION
<br />STATE EMPLOYEES' RETIREMENT SYSTEM
<br />
<br />Secretary
<br />
<br />President, Board of Administrallon
<br />
<br />
<br />
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