Agmt_1946_November 25_SERS - Laserfiche WebLink

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8. The provislOns o,f Secti,_ _.d367.5 of the State Employees' Retirement Lafl';"providi,ng a $300 death benefit #fer j rt'prement___._SHALL_____:________ apply to employees of Public Agency who become members of said Retirement System., . J ("~hall" or "dull Dot") I I I I 1 I 9. Public Agency shall contribute to said l}etirement System as follows: a. The sum of $.fi~~DBD...ti~ ~num, payable in equal monthly or less frequent installments as Board shall require. for a period of__nu__25-__~~__yea;s, on account of the liability. for benefits based on service rendered to Public Agency prior to the effective date hereof. b. __9...ii3.'Z___{.r cent of total salaries paid by Public Agency each month to its employees who are llleIIlbers of said Retirement System, provided that only salary earned as members of said System shall be iIiclude~ in said total salaries, and the employees who are members of said System shall include ,employees who be~ome members upon the effective date hereof and employees who become members thereafter. c. A reasonable amount per annum. as fixed by Board, payable in equal montWy or less fre,quent installmep,ts, 'as Board shall require, to cover the costs of administering said System as it affects the employees of Pu"lic Agency,' not including the costs of special valuations or of the periodical investigation and ,valuation required by l~w, provided that said amount shall be determined on the basis of the number of employees of Public Agency who are members on July 1st of the respective fiscal years, or with respect to t~e first year of participation, on the effective date of said participation. d. A reasonable amount as fixed by the Board, payable in one installment fropl time to time as the oc~asi~ns arise, to cover the costs of special valuations on account of employees of Public Agency,and the ~stsofth~ ' periodical investigation into the experience under said Retirement System, as it .affects said employe"es) a!ld the valuation of the assets and liabilities of said System on account of said employees. . , Contributions required of Public Agency and its employees shall be subject to adjustment by the Board of Admin- istration on account of amendments to the State Employees' Retirement Law, and on account of experience under the Retirement System, as determined by the periodical investigation, valuation and determination provided for by said "R.etiremen~ Law. ., . 10. Contributions required of Public Agency under paragraph 9 immediately preceding, and contributio,ll,s requited of Public Agency's employees who are members of said System, shall be paid by Public Agency to ~he State Emplones' Retirement System within thirty days after the end of the month or longer period to which said contnb'utions refer. If more or less than the correct amount of contribution required of Public Agency or its employees is paid for. any pei;'.iod} pr9pet adjustment shall be made in connection with subsequent remittances of Public Agency to the Board, to rectify the ericirs; or such adjustments on account of errors made in contributions required of employees, may be made by direct cashpaymei1ts between the employee in connection with whom the error was made. and Board. Payments' of Public Agency to Board may be made in the form of warrants, bank checks, bank drafts, certified checks, money orders, or cash. WITNESS OUR HANDS the day and year :first above written. .______.__Q_,i.txmg.Q~~.~!.__..__'.m.m~...'.---,.,__~....__----"..".of N.me of Lellii,llltive B.od., ... City of Santa Ana ------ Mayor . P"!i<ling pffim BOARD OF ADMINISTRATION. y__:T::Z~~:!:~7;2TEM.. .. Pusident, Board of Administration - _ 1!l1l18 3_41! 1M SPO .... "