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RESOLUTION NO. 74-17 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA DECLARING ITS INTENTION TO APPROVE AN <br />AMENDMENT TO CONTRACT BETWEEN THE BOARD OF <br />ADMINISTRATION OF THE PUBLIC EMPLOYEES' RETIRE- <br />MENT SYSTEM AND THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA <br /> <br /> WHEREAS, the Public Employees' Retirement Law permits <br />the participation of public agencies and their employees <br />in the Public Employees' Retirement System by the execution <br />of a contract, and sets forth the procedure by which <br />said public agencies may elect to subject themselves and <br />their employees to amendments to said law; and <br /> <br /> WHEREAS, one of the steps required in the procedure <br />to amend this contract is the adoption by the legislative <br />body of the public agency of a resolution giving notice of <br />its intention to approve an amendment to said contract, <br />which resolution shall contain a summary of the changes <br />proposed in said contract; and <br /> <br /> WHEREAS, the following is a summary of the major <br />provisions of the proposed changes: <br /> <br />Provides upon death of a miscellaneous or local <br />safety member who retired for service or dis- <br />ability for the continuation of one-half the <br />retirement allowance to certain survivors. <br /> <br />Safety formula changed to 2% at 50 (from 1/2 <br />at 55). <br /> <br /> NOW, THEREFORE, BE IT RESOLVED that the City Council <br />of the City of Santa Aha gives, and it does hereby give, <br />notice of intention to approve an amendment to contract, <br />between said City Council and the Board of Administration <br />of the Public Employees' Retirement System, a copy of said <br />amendment and a summary of the major provisions of the pro- <br />posed changes being attached hereto, marked Exhibits "A" <br />and "B", and by this reference made a part hereof. <br /> <br />ATTEST: <br /> <br />~N C I~L <br /> <br /> <br />