Letter_1944_Februrary 24_SERS - Laserfiche WebLink

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, , _ .f_ L:f . ... w. ~ ~ . / , ~ Santa Ana, California February 21, 1944. Honorable City Council, Santa Ana, California. Gentlemen: In accordance with an action of the Board of Directors of the Santa Ana City Employees Association, we hereby request that the City Council make proper investigation to determine the cost and feasibility of joining with the State of California in its retirement system. We would like to point out to you that at the present time the employees of the City of Santa Ana are not included under the provisions of the Old Age Pension System, State Unemployment Insurance or the Federal Social Sijcurity Act, whereas employees of practically all industries come within the provisions of these various legislations and at the end of a long and faithful service have built up for themselves a reserve or security for use in the later years when they are no longer able to earn a li~ihood in industry. <llIIIII ~ As you are well aware our Federal Government throughout many years has had a pension system covering Army, Navy, Postal employees and practically all branches of its service. Most of the larger industries such as railroad, oil, power and gas companies and many E31es organizations have long ago established pension systems for their employees. Many States of the Union have pension and retirement systems, the California system having been established in 1931 and, recognizing the merits and desirability of such a system, in 1939 legislation was approved whereby cities a re permit tad to participate in the State System. The League of California Cities, of which Santa Ana is a member, has made an exhaustive study and report on City -participation in the State Employees Retirement System, which is covered by their pamphlet No. 23, dated March 1940, copies of which are available to all member cities. At this time and for your information, we quote from this pamphlet under the heading "Procedure for Entering System" _ A City Council desiring to consider participation in the State Employees' Retirement System should first direct a letter to the board of administration of the System indicating such desire. The board of administration will thereupon furnish the city with a form upon which it may request a quotation of the approximate cost of its participation in the System. Upon receipt of such a request the board of administration will furnish the city with its estimate of the expense of the actuarial investigation and valuation necessary to determine the approximate cost of participation. If, after receiving the estimate of the actuarial expense, the city decides to proceed, it then furnishes the board of administration with the data about its employees necessary in the actuarial investigation and valuation, without incurring any obligation beyond the expense of the investigation and valuation."