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RESOLUTION NO. 95-077 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA <br />AUTHORIZING AN AMENDMENT TO THE CONTRACT BETWEEN THE <br />BOARD OF ADMINISTRATION OF THE PUBLIC EMPLOYEES' <br />RETIREMENT SYSTEM AND THE CITY COUNCIL OF THE CITY OF <br />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 in the procedures to amend this <br />contract is the adoption by the governing body of the public agency <br />of a resolution giving notice of its intention to approve an <br />amendment to said contract, which resolution shall contain a <br />summary of the change proposed in said contract; and <br /> <br />WHEREAS, the following is a statement of the proposed change: <br /> <br />To provide 2% @ 55 Full formula (from 2% @ 60 Full formula) <br />for local miscellaneous members, including an extension of <br />the funding period to the year 2016. <br /> <br /> NOW, THEREFORE BE IT RESOLVED, that the governing body of the <br />above agency does hereby give notice of intention to approve an <br />amendment to the contract between said public agency and the Board <br />of Administration of the Public Employees' Retirement System, a <br />copy of said amendment being attached hereto, as an "Exhibit" and <br />by this reference made a part hereof. <br /> <br />ADOPTED this 6th <br /> <br /> ATTEST: <br /> <br />/.~L~IRK OF THE COUNCIL <br /> <br />day of _.4Ng~ember .~'~995. <br /> <br />APPROVED AS TO FORM: <br /> <br />CITY ATTORNEY <br /> <br />Councilmembers <br />PULIDO Aye_ <br />ESPINOZA Aye <br />LUTZ Aye <br />McGUIGAN Aye <br />MILLS Aye <br />MORENO Ay~ <br />RICHARDSON Aye <br /> <br /> <br />