Letter_1944_June 27_SERS_Form F111

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-- . . e EARL W. CHAPMAN EXECUTIVE SECRETARY !n)ARD OF ADMINISTRATION THOS. E. STANTON. PRESIDENT H. H. BENEDICT JOHN R. CORNWELL DONALD GALLAGHER JOHN J. HAMLYN JAMES DEAN WALTER C. KENNEDY JOSEPH H. STEPHENS RALPH R. NELSON ACTUARY STATE OF CALIFORNIA ~tatr ~mpIn~rrs' ~rtirrmrttt ~~strm 102 STATE OFFICE BUILDING NO.1 / - , - TENTH AND L STREETS SACRAMENTO 14 '-I"~"A ./ . June 27. 1944 1\ , Emma Keeler. City Clerk City Hall Santa Ana. California Dear Madam: As the enclosed form 111 shows. the City of Santa Ana would be required to pay $452.50 for the services of the Consulting Actuary in making the report which would tell the ultimate annual cost to the city if a contract is made to bring its employees into the State Employees' Retirement System. If your council decides to have the Actuary's report rendered. we will furnish you with a card for each employee. and your office or some other city office will complete tha.t card showing the employee's name. age, sex. salary and servlceexperience. These cards will be returned to Sacramento, and we will then send them to the Consulting Actuary for process- ing. It will take approximately ninety days after the Actuary gets the cards before his report will be finished, for there are quite a number of subdivisions ahead of yours which must have reports first. That would mean that the report would come to you perhaps in the month of October, and I suggest that you set the effective date as either January I, 1945, or July 1. 1945. The Actuary would also need to know the minimum age for retirement of Policemen and Firemen. The law provides that this may be set at your discretion between ages 55 and 60. Some cities have chosen 55. and some chose age 60. though none have chosen any age in between. Of course, the earlier the age is set. the more it will cost both to the employer and to the employee. On the other hand, some Jurisdictions feel that for the efficiency of the Police and Fire services, they should have it possible for their men to retire at an age as low as 55. The age for the retirement of the employees other than Policemen and Firemen is set in the retirement law itself, and at present the Legislature has set age 60 as the minimum with age 70 as compulsory. I shall be glad to furnish any further information which you may desire. EARL W. CHAPMAN, EXECUTIVE SECRETARY EWC:kg Encl.