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89-119
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Last modified
1/3/2012 12:32:15 PM
Creation date
6/26/2003 10:46:57 AM
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City Clerk
Doc Type
Resolution
Doc #
89-119
Date
11/20/1989
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Public Agency, in accordance with Government Code Section 20740, <br />ceased to be an "employer" for purposes of Section 20759 effective on <br />December 16, 1976. Accumulated contributions of Public Agency shall <br />be fixed and determined as provided in Government Code Section 20759, <br />and accumulated contributions thereafter shall be held by the Board as <br />provided in Government Code Section 20759. <br /> <br />10. Public Agency shall contribute to said Retirement System as follows: <br /> <br />With respect to local miscellaneous members, the agency shall <br />contribute the following percentages of salaries earned as <br />members of said Retirement System: <br /> <br />(1) <br /> <br />6.569 percent until June 30, 2000 on account of the <br />liability for current service benefits. (Subject to annual <br />change.) <br /> <br />(1) <br /> <br />With respect to local safety members, the agency shall contribute <br />the following percentages of salaries earned as members of said <br />Retirement System: <br /> <br />16.717 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 ~hall 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 /> <br />
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