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· 120 <br /> <br />11. <br /> <br />Contributions required of Public Agency and its employees shall 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 />12. <br /> <br />Contributions required of Public Agency and its employees shall be paid <br />by Public Agency to the Retirement System within fifteen days after the <br />end of the period to which said contributions refer or as may be prescribed <br />· by Board regulation. If more or less than the correct amount of <br />contributions is paid for any period, proper adjustment shall be made in <br />connection with subsequent remittances. Adjustments on account of <br />errors in contributions required of any employee may be made by direct <br />payments between the employee and the Board. <br /> <br />B. This amendmer~t shall be effective on the day of ~, <br /> <br />BOARD OF ADMINISTRATION ~ CITY COUNCILsANTAANA ~ <br />PUBLIC EMPLOYEES' RETIREMEN~'~STEM cI'rY OF <br /> <br />BY · . ~.~..~ BY . ,..~.-- <br />KENNETH W. MARZION, CH~ PRESIDING OFFI~':ER <br />ACTUARIAL & EMPLOYEI~..i[/~ERVlCES DIVISION ~ ,.~'_,5.~ <br />PUBLIC' EMPLOYEES' R~REMENT SYSTEM <br /> <br /> , WitnesS&Dhte <br /> Attes~~' <br /> <br />Clerk <br /> <br />AMENDMENT <br />PERS-CON-70ZA (Rev. 8~96) <br /> <br /> <br />