Agmt_1952_November 3_SERS - Laserfiche WebLink

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I 10. The provisions of Section 2L,,/.5 of the State Employees' Retirement Law,~l~ _...ding a $300 death benefit after retirement __um.sHALL__________ ___apply to employees of Public Agency who become members of said Retirement System. {"sbl1" or "sball not") 11. The provisions of Section 20025 of the State Employees' Retirement Law, providing for the portion of com"" pensation which shall be included in computations under the Retirement Law _______ ________._~_~~___n___________ --::...--------------'- {"shall" or "Sh11J not'") apply to employees of Public Agency who become members of said Retirement System. 12. Public Agency shall contribute to said Retirement System as follows: a. The sum of d?J-QB4_._2_~___per annum, payable in equal monthly orDj~;.efrequent installments as Board shall require, for a period oL___3_____________years, on account of the liability for benefits based on service rendered to Public Agency prior to the effective date hereof. b. .h..2U ______per cent of total salaries paid by Public Agency each month to its employees who are members of said Retirement System, provided that only salary earned as members of said Syst<;,:m shall be in~luded~n said total salaries, and the employees who are members of said System shall include employees ~hobecorne members upon the effective date hereof and employees who become members thereafter. ' c. A reasonable amount per annum, as fixed by Board, p"'y"h1.. :..... "''in..! ............;.t..ly 01' l-:-c!i' inEflO.R1; i19UUW.tL!J, :as 'RM..rl ..t....ll ""1":""', to cover the costs of administering said System as it affects the employees of Public Agency, not including the costs of special valuations or of the periodical investigation and valuation required by law, - provided that said amount shall be determined on the basis of the number of employees of Public Agency who are members on July Ist of the respective fiscal years, or with respect to the first year of participation~ on the effective date of said participation. - d. A reasonable amount as fixed by the Board, payable in one installment from time ~o time asthe~ccasions arise, to cover the costs of special valuations on account of employees of Public Agency, and the costs of the periodical investigation into the experience under said Retirement System, as it affects said employees, and the valuation of the assets and liabilities of said System on account of said employees. Contributions required of PubEc 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 experienc~ unqer the Retirement System, as determined by the periodical investigation, valuation and determination provided for by said Retirement Law. 13. Contributions required of Public Agency under paragraph 12 immediately preceding. and contributions required of Public Agency's employees who are members of said System, shall be paid by Public Agency to the State Employees' Retirement System within thirty days after the end of the month or longer period to which said contributions refer. If more or less than the correct amount of contribution required of Public Agency or its employees is paid for;any period, proper adjustment shall be made in connection with subsequent remittances of Public Agency to the Board, to rectify. the errors.; or such adjustments on account of errors made in contributions required of employees. may be made by direct cash'payments between the employee in connection with whom the error was made, and Board. Payments of Public Agency to B9ard may be m:lde in the form of warrants, bank checks, bank drafts, certified checks, money orders, or cash. WIJ:~ESS OUR HANDS the day and year first above written. ;:;/-:' .1..L. TOO- - _J~~Q!!.IJ..VJ;_QQ;lMIJ!~E._~__________mm__C____.__~_~___ooof Name of Legislative Body Clerk _.f'JI'(_~Q.L[I[[..QulIA!,,!.___S.Ewr;JL___ By BOARD OF ADMINISTRATION ,,& II f1fl!! A TE EMPLOYEES' RETIREMENT SYSTEM ATTES~~__~~:_:_=_~ BY.oooo_~ Executive Officer Presidmt. Boara NOV 1 4 1951 UI3ISB_.9!lOC1(!)SPO