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2001-022 - Board of Adminstration of the Public Employee's Retirement System
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2001-022 - Board of Adminstration of the Public Employee's Retirement System
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Last modified
1/3/2012 12:29:36 PM
Creation date
6/26/2003 10:47:02 AM
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City Clerk
Doc Type
Resolution
Doc #
2001-022
Date
3/19/2001
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PLEASE DO NOT SIGN "EXHIBIT <br /> <br />c. Section 20475 (Different Level of Benefits Provided for New <br /> Employees). Section 21024 (Military Service Credit as Public <br /> Service), Statutes cf 1974, is not applicalbe to local miscellaneous <br /> members and local safety members entering membership after <br /> October 1, 1981. <br /> <br />d. Section 20042 (One-Year Final Compensation). <br /> <br />e. Section 20903 (Two Years Additional Service Credit). <br /> <br />f. Section 21573 (Third Level of 1959 Survivor Benefits). <br /> <br />g. Section 21548 (Pre-Retirement Optional Settlement 2 Death <br /> Benefit). <br /> <br />Section 21024 (Military Service Credit as Public Service), Statutes <br />of 1976 for local safety members. <br /> <br />Public Agency, in accordance with Government Code Section 20790, <br />ceased to be an "employer" for purposes of Section 20834 effective on <br />December 16, 1976. Accumulated contributions of Public Agency shall be <br />fixed and determined as provided in Government Code Section 20834, <br />and accumulated contributions thereafter shall be held by the Board as <br />provided in Government Code Section 20834. <br /> <br />Public Agency shall contribute to said Retirement System the contributions <br />determined by actuarial valuations of prior and future service liability with <br />respect to local miscellaneous members and local safety members of said <br />Retirement System. <br /> <br />10. Public Agency shall also contribute to said Retirement System as follows: <br /> <br />Contributions required per covered member on account of the 1959 <br />Survivor Benefits provided under Section 21573 of said Retirement <br />Law. (Subject to annual change.) In addition, all assets and <br />liabilities of Public Agency and its employees shall be pooled in a <br />single account, based on term insurance rates, for survivors of all <br />local miscellaneous members and local safety members. <br /> <br />A reasonable amount, as fixed by the Board, payable in one <br />installment within 60 days of date of contract to cover the costs of <br />administering said System as it affects the employees of Public <br />Agency, not including the costs of special valuations or of the <br />periodic investigation and valuations required by law. <br /> <br />A reasonable amount, as fixed by the Board, payable in one <br />installment 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 /> <br />
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