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<br />WITNESSETH:
<br />In consideration of the covenants and agree-
<br />ments hereinafter contained and on the part
<br />of both parties to be kept and performed,
<br />Public Agency and Board hereby agree as
<br />follows:
<br />1 Public Agency is to participate in the State
<br />Employees' Retirement System, subject to the
<br />provisions of the State Employees' Retirement
<br />Law.
<br />2. Public Agency shall participate in said
<br />Retirement System, making its employees
<br />members of said System, from and after July
<br />1, 1947.
<br />3. Employees of Public Agency in the follow-
<br />ing classes shall become members of said
<br />Retirement System in accordance with the
<br />provisions of said Retirement Law, governing
<br />membership in said Retirement System, and
<br />subject to the further exclusions from mem-
<br />bership in the next following sentence:
<br />
<br />Number of Employees
<br />Eli~ible for Membership
<br />Classes of Employees on Jan. 1, 1947
<br />a. Local Firemen, as
<br />defined in the State
<br />Employees' Retirement
<br />
<br />Law ................ 44
<br />b. Local Policemen, as
<br />defined in the State
<br />Employees' Retirement
<br />
<br />Law ................ 45
<br />('. Employees other than
<br />Local Firemen and Local
<br />Policemen .. . .. . . .. . . 196
<br />In addition to the employees excluded from
<br />membership by said Retirement Law, the fol-
<br />lowing employees shall not become members
<br />of the Retirement System:
<br />
<br />No Additional Exclusions
<br />
<br />Board and Public Agency agree that, except
<br />as provided in paragraph 9, no adjustment
<br />shall be made in the amount of contributions
<br />provided in paragraph 9a on account of prior
<br />service, or in the percentage provided in para-
<br />graph 9b, because of variations in the numbers
<br />of employees who become members of said
<br />Retirement System on the effective date here-
<br />of, from the number listed above, due to termi-
<br />nation of service by such causes as death, res-
<br />ifmation or discharge, or the employment of
<br />i~rlividuals not included in said number.
<br />4. Age 60 shall be the normal minimum age
<br />for retirement for service, of miscellaneous
<br />members employed tly public agency, th<at is,
<br />members other than Local Firemen and Local
<br />Policemen, and one-sixtieth shall be the frac
<br />tion of final compensation, as defined in said
<br />Retirement Law, to be provided on the average,
<br />for each year of service as a member, by the
<br />members' and Public Agency's normal contri-
<br />butions ,upon retirement at said minimum age.
<br />5. Benefits on account of prior service, that
<br />is, service credited hereunder as rendered to
<br />
<br />Public Agency prior to the effective date of
<br />participation, to respective members employed
<br />by Public agency as Local Firemen or Local
<br />Policemen, shall be allowed only as a per-
<br />centage of the average salary specified in said
<br />Retirement Law, for each year of such service,
<br />and said percentage shall be 100 per cent of
<br />the fraction of final compensation as defined
<br />in the State Employees' Retirement Law, for
<br />each year of service rendered after said date,
<br />as determined for said respective members un-
<br />der said law, for the retirelnent for service at
<br />age 55, or upon qualification for service re-
<br />tirement at a higher age. If a member retires
<br />for service before attaining age 55, his prior
<br />service pension shall be reduced to that
<br />amount which the value of the pension as de-
<br />ferred to age 55 will purchase at the actual
<br />age of retirement.
<br />6. Prior service benefits to mi<scellaneous
<br />members employed by Public Agency, that is,
<br />members other than Local Firemen and Locai
<br />Policemen, upon retirement for service at the
<br />normal minimum age entered in paragraph 4
<br />hereof; shall be allowed only as a percentage of
<br />the average salary specified in said Retirement
<br />Law, for each year of such service, and said
<br />percentage shall be 100 per cent of one-sixtieth.
<br />If a member retires for service before attain-
<br />ing the normal minimum age in item 4, his
<br />prior service pension shall be reduced to that
<br />amount which the value of the pension as
<br />deferred to said minimum age will purchase
<br />at the actual age of retirement.
<br />7. The provisions of Section 21258b of the
<br />State Employees' Retirement Law, guarantee-
<br />ing a minimum retirement allowance under
<br />certain conditions shall apply to employees of
<br />Public Agency who become members of said
<br />Retirement System.
<br />8. The provisions of Section 21367.5 of the
<br />State Employees Retirement Law, providing a
<br />$300 death benefit after retirement shall
<br />apply to employees of Public Agency who be-
<br />come members of s<aid Retirement System.
<br />9. Public Agency shall contribute to said
<br />Retirement System as follows:
<br />a. The sum of $51,080.69 per annum, payable
<br />in equal monthly or less frequent installments
<br />as Board shall require, for a period of 25 years,
<br />on account of the liability for benefits baseGl
<br />on service rendered to Public Agency prior to
<br />the effective date hereof.
<br />b. 9.937 per cent of total sal<aries paid by
<br />Public Agency each month to its employees
<br />who are members of said Retirement System,
<br />provided that only salary earned as members
<br />of said System shall be included in said total
<br />salaries, and the employees who are members
<br />of said System shall include employees who
<br />become members upon the effective date here-
<br />of and employees who become members there-
<br />after.
<br />c. A reaoonable amount per annum, as fixed
<br />by the Board, .payable in equal monthly or less
<br />frequent installments, as Board shall require,
<br />
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