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2007-041 - Amend Resolution No. 91-066
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2007-041 - Amend Resolution No. 91-066
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Last modified
4/9/2015 11:23:49 AM
Creation date
5/14/2007 10:34:27 AM
Metadata
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Template:
City Clerk
Doc Type
Resolution
Doc #
2007-041
Date
5/7/2007
Destruction Year
Perm
Document Relationships
2012-005 - Classifications of Employment Designated as Unrepresented Executive Management
(Amended By)
Path:
\Resolutions\CITY COUNCIL\2011 -\2012
91-066
(Amends)
Path:
\Resolutions\CITY COUNCIL\1952 - 1999\1991
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<br />A. Subsection C of Section 6.1 Retirement Plan Contributions shall read as <br />follows: <br /> <br />"C. 2.7% at 55 Retirement Benefit for CalPERS Miscellaneous Members. <br />Effective January 1, 2009, the City shall amend its retirement contract with <br />CalPERS to provide miscellaneous employees with the 2.7% at 55 <br />retirement benefit. Pursuant to CalPERS regulations, this new formula will <br />apply to employees that are in active status on the date this amendment <br />takes effect. This new formula will apply to each year of eligible service <br />credited with the City of Santa Ana. <br /> <br />Effective July 1, 2007, CalPERS miscellaneous employees shall contribute <br />two percent (2%) of their salary toward the 2.7% at 55 retirement benefit. To <br />the extent permitted by CalPERS and Internal Revenue Service regulations, <br />this 2% contribution shall be implemented through payroll deduction on a <br />pre-tax basis. <br /> <br />Effective July 1, 2008, CalPERS miscellaneous employees shall contribute <br />an additional two percent (2%) of their salary, for a total offour percent (4%), <br />toward the 2.7% at 55 retirement benefit. To the extent permitted by <br />CalPERS and Internal Revenue Service regulations, this additional 2% <br />contribution shall be implemented through payroll deduction on a pre-tax <br />basis. <br /> <br />Effective July 1, 2009, CalPERS miscellaneous employees shall contribute <br />an additional two and three tenths percent (2.3%) of their salary, for a total of <br />six and three tenths percent (6.3%), toward the 2.7% at 55 retirement <br />benefit. To the extent permitted by CalPERS and Internal Revenue Service <br />regulations, this additional 2.3% contribution shall be implemented through <br />payroll deduction on a pre-tax basis." <br /> <br />Section 3. That except as amended by this Resolution, all other provIsions of <br />Resolution No. 91-066, as amended, shall remain in full force and effect. <br /> <br />Section 4. That this Resolution shall be operative, unless specified otherwise above, <br />from and after July 1,2007. <br /> <br />ADOPTED this ih day of Mav. 2007. <br /> <br />;Z; <br /> <br />Miguel A. Pulido <br />Mayor <br /> <br /> <br />Resolution No. 2007-041 <br />Page 2 of 3 <br />
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