Ordinance 1146_1945 - Laserfiche WebLink

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Number of Employees Minimum Eligible for Age For Membership Voluntary on August Servico Classes of Employees 1, 1945 Retirement a. City Firemen, as defined in Section 8c of the State Em- ployees' Retirement Act.. 50 (,0 b. City Policemen, as defined in Sectioil 8b of the State Em- ployees' Retirement Act. 48 60 c. Employees other than City Firemen and City PolicemendI54 As provided in the Retirement Act. In addition to the employees excluded from membership by said Retirement Act, the fol- lowing employees shall not become members of the Retirement Svstem: No additional ex- clusions. Board atld City agree that, except as provided in paragraph 5, no adjustment shall be made in the amount of contributions provided in paragraph Sa, on account of prior service. or in the pcrccntage provided in para- graph 5b. because of variations in the num- bers of employees who become members of said Retirement Svstem on the effective date hereof, from the' numbers listed above, due to termination of ,service by such causes as death, resignation or discharge, or the em- ployment of individuals not included in said numbers. 4. Benefits on account of prior service, that is, service credited hereunder as rendered to City prior to the effective date hereof, shall be allowed to city firemen and city police- men and to other employees, only as per- centages of the respective average salaries specified in said Retirement Act, for each year of such service, and said percentages shall be equal to 100 per cent of the analogous percenta!;es now used under said Retirement System in calculating benefits on account of prior service, allowed to members of the Cali. fornia State Highway Patrol and to other em. ployees of the State of California, respective- ly. 5. Citv shall contribute to said Retirement System 'as follows; a. The sum of $28,835.49 per annum, pay- able in equal monthly or less frequent installments as Board shall require, for a period of 25 years, on account of the liability for benefits based on ser- vice rendered to City prior to the ef- fective date hereof. b. 8.388 per cent of total salaries paid by City each month to its employees who are members of said Retirement Sys- tem, provided that only salary earned as members of said System shall be in- cluded in said total salaries, and that employees who are members of said System shall include employees who become members upon the effective date hereof and employees who become members thereafter. c. A reasonable amount as fixed by Board, payable in equal monthly or less fre- quent installments, as Board shall re- quire, to cover the costs of administer- ing said System as it affects the em- ployees of City, not including the costs of special valuations or of the per- iodical investigation and valuation re- quired by law, provided that said amount shalI not exceed $2.00 per fis- cal year per member, on the basis of the number of employees of City who are members on July 1st of the respec- tive fiscal years, or with respect to the first year of participation, on the ef- fective date of said participation. d, A reasonable amount as fixed hy the Board, pavable in one installment from time to time as the occasions arise, to cover the costs of special valuations on account of employees of City and the costs of the periodical investiga- tion into the experience under said Retirement Svstem, as it affects said employees, a~d the valuation of the assets and liabilities of said System on account of said employees. Contributions required of City and its em- ployees shall be subject to adjustment by the Board of Administration on account of amend- ments to the State Employees' Retirement 1. City is to participate in the State Fm- ployees' Retirement System, subject to the provisions of the State Employees' Retirement Act. 2. City shall participate in said Retirem('nt System, making its employees members of said System, from and after August 1. 1945. 3. Employees of City in the following classes shall become members of said Retire- ment System in aceordance with the pro- visions of said Retirement Act. governing membership in said Retirement System, and subject to the further exclusions ft'tm mem- Iwnhip in the next following sentence: