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RESOLUTION 68-25 DECLARING INTENTION TO APPROVE <br />AN AMENDMENT TO CONTRACT BETWEEN THE BOARD OF <br />ADMINISTRATION OF THE PUBLIC EMPLOYEES' RETIREMENT <br />SYSTEM AND T~E CITY OF SANTA ANA <br /> <br /> WHEREAS, the Public Employees' Retirement Law permits the <br />participation of public agencies and their employees in the Public <br />Employees' Retirement System by the execution of a contract and <br />sets forth the procedure by which said public agencies may elect to <br />subject themselves and their employees to amendments to said Law; <br />and <br /> <br /> WHEREAS, one of the steps required in the procedure to amend <br />this contract is the adoption by the legislative body of the public <br />agency of a resolution giving notice of the intention to approve an <br />amendment to said contract, which resolution shall contain a summary <br />of the changes proposed in said contract; and <br /> <br />WHEREAS, the following is a summary of the proposed changes: <br /> <br />Retirement allowances payable for time commencing on the <br />first day of the calendar month coinciding with or next <br />following the effective date of this amendment to or on <br />account of any member who retired on or prior to July 1, <br />1956, are hereby increased by $10.00 a month plus a <br />percentage varying according to date of retirement and <br />years of service to a maximum of 5%. <br /> <br /> 2. Retirement allowances payable for time commencing on the <br /> effective date of this amendment to or on account of any <br /> person whose retirement became effective on or prior to <br /> December 31, 1961, are hereby increased according to a <br /> sliding scale ranging from two percent for those whose <br /> retirement became effective during the eighteen months <br /> ending December 31, 1961, to a maximum of ten percent for <br /> those whose retirement became effective July 1, 1957, or <br /> earlier but not to exceed the sum of $50 per month, as <br /> provided in Government Code Section 21251.6 added by <br /> Chapter 2099, Statutes of 1963. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED: That the City Council of the <br />City of Santa Ana gives, and it does hereby give notice of intention <br />to approve an amendment being attached hereto, marked "Exhibit A" and <br />by this reference made a part hereof. <br /> <br /> PASSED AND ADOPTED by the City Council of the City of Santa <br />Ana at its regular meeting held on the ~th day of March~-~9~S ~-~ <br /> <br />CLERK OF THE COUNCIL <br /> <br />STATE OF CALIFORNIA) <br />COUNTY OF ORANGE ) <br />CITY OF SANTA ANA ) <br /> <br />SS <br /> <br /> I, DORIS M. BROWN, do hereby certify that I am the Clerk of <br />the Council of the City of Santa Ana; that the foregoing Resolution <br />was introduced to said Council at its regular meeting held on the <br />~h day of March, 1968, and was at said meeting passed and adopted <br />by the following vote, to wit: <br /> <br />AYES, <br /> <br />COUNCILMEN: Brooks, Carlson, Grise%, Markel, Thurman <br /> <br />NOES, <br />ABSENT, <br /> <br />COUNCILMEN: Herrin, McMichael <br />COUNCILMEN: None <br /> <br /> CLERK OF THE COUNCIL <br /> <br /> <br />