55E - RESO - AMEND PARS TRUST PLAN

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Js8/10/12 RESOLUTION NO. X A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA AMENDING THE PARS TRUST SUPPLEMENTARY RETIREMENT PLAN TO INCLUDE CURRENT POLICE UNION PRESIDENT PAY BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS FOLLOWS: Section 1: The City Council of the City of Santa Ana hereby finds, determines, and declares as follows: A. Effective April 18, 2011, the City of Santa Ana adopted a supplemental retirement plan with the Public Agency Retirement System ("PARS") (the "Plan"). The Plan's purpose was to provide a stipend for twenty-five (25) Police Officer Association ("POK) retirees that were denied PERSable compensation under the California Public Employee Retirement System (CaIPERS) for salary increases they received in exchange for participating in an unpaid furlough program. B. The Plan provided that "The Employer shall have the right to amend, modify or terminate this Plan at any time". C. A recent CaIPERS audit determined that the special assignment pay received by the POA president did not meet the definition of compensation and would not be considered reportable compensation in the calculation for PERS retirement benefits. D. The City proposes to amend The Plan with PARS to include the incumbent POA President so as to provide the level of benefits he would have received had PERS not determined the Union Pay to be not-reportable. No additional retirees will be eligible to participate in the supplementary retirement plan. Section 2: The City Council of the City of Santa Ana hereby approves the following amendments to the PARS Trust Plan originally approved April 18, 2011: A. Section 1.1 "Eligibility for Benefits", is hereby amended to add an additional Benefit Tier, to read in full as follows: Tier I An Employee shall be eligible to receive Retirement Benefits under this Plan if he or she: 55E-3