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84-062
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84-062
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Last modified
1/3/2012 12:32:59 PM
Creation date
6/26/2003 10:46:54 AM
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City Clerk
Doc Type
Resolution
Doc #
84-62
Date
5/21/1984
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10. <br /> <br /> A/n ' <br /> u; · r · <br />Public Agency shall contribute to~d~.tt ement System as follows. <br /> <br />a. With respect to local miscellaneous ~r~he agency shall <br /> contribute the followln~ percenta~em of ~W~//salartes earned <br /> ~m local mtmcellaneou~ members of sa~d ~etlrement System: <br /> <br />(~) <br /> <br />O.151 percent until June 30, 2000 on account of the <br />liability for prior service benefits. (Subject to annual <br />change.) <br /> <br />(2) 12.647 percent until June 30, 2000 on account of the <br /> liability for current service benefits. (Subject to annual <br /> <br />· change.) <br /> <br />With respect to local safety members, the agency shall contribute <br />the following percentages of monthly salaries earned as local <br />aafety members of said Retirement System: <br /> <br />(1) <br /> <br />27.300 percent until June 30, 2000 on account of the <br />liability for current service benefits. (Subject to annual <br />change.) <br /> <br />A reasonable amount, as fixed by the Board, payable in one in- <br />stallment within 60 days of date of contract to cover the costs <br />of administering said System as it affects the employees of <br />Public Agency, not including the costs of special valuations or <br />of the periodic investigation and valuations required by law. <br /> <br />A reasonable amount, as fixed by the Board, payable in one in- <br />stallment as the occasions arise, to cover the costs of special <br />valuations on account of employees of Public Agency, and costs of <br />the periodic investigation and valuations required by law. <br /> <br />11. <br /> <br />Contributions required of Public Agency and its employees shall be <br />subject to adjustment by Board on account of ~mendments to the Public <br />Employees' Retirement Law, and on account of the experience under the <br />R6tirement System as determined by the periodic investigation and val- <br />uation required by said Retirement Law. <br /> <br />12. <br /> <br />Contributions required of Public Agency and its employees shall be <br />paid by Public Agency to the Retirement System within thirty days <br />after the end of th~ period to which said contributions refer or as <br />may be prescribed by Board regulation. If more or less than the cor- <br />rect amount of contributions is paid for any period, proper adjustment <br />shall be made in connection with subsequent remittances, or adjust- <br />mE nts on account cf errors in contributions required of any employee <br />may be made by direct cash payments between the employee and the <br />Board. Payments by Public Agency to Board may be made in the form of <br />warrants, bank checks, bank drafts, certified checks, money orders or <br />cash. <br /> <br /> <br />
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