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ORDINANCE NO. NS-2772 <br />AN ORDINANCE OF THE CITY COUNCIL OF THE CITY <br />OF SANTA ANA AUTHORIZING AN AMENDMENT TO THE <br />CONTRACT BETWEEN THE CITY OF SANTA ANA AND <br />THE BOARD OF ADMINISTRATION OF THE PUBLIC <br />EMPLOYEES' RETIREMENT SYSTEM. <br />THE CITY COUNCIL OF THE CITY OF SANTA ANA DOES ORDAIN AS <br />FOLLOWS: <br />Section 1: The City Council of the City of Santa Ana hereby finds, determines <br />and declares as follows: <br />A. The Public Employees' Retirement Law permits the participation of public <br />agencies and their employees in the Public Employees' Retirement <br />System ("PERS") by the execution of a contract, and sets forth the <br />procedure by which said public agencies may elect to subject themselves <br />and their employees to amendments to said law. Such a contract <br />currently exists between the City of Santa Ana and the Board of <br />Administration of the California Public Employees' Retirement System. <br />B. In accordance with provisions of the current Memorandums of <br />Understanding between the City of Santa Ana and its miscellaneous <br />employee PERS members represented by the Service Employees <br />International Union, the Fireman's Benevolent Association, the Santa Ana <br />Police Officers Association, the Fire Management Association, the Police <br />Management Association, and the Santa Ana Management Association, <br />as well as the employment resolution governing the Unaffiliated <br />Confidential Unit, for fiscal years 2004-2010, the City agreed to amend its <br />contract with the Public Employees Retirement System to provide <br />Government Code Section 21354.5, 2.7% @ 55 Full Formula benefits for <br />all active local members effective January 1, 2009. A copy of said <br />proposed amendment is attached hereto as Exhibit "A" and by this <br />reference made a part hereof. <br />C. The Service Retirement benefit calculated far service earned by this group <br />of members (applying to active members only) is a monthly allowance <br />equal to the product of the 2.7% @ 55 benefit factor, years of service, and <br />final compensation. <br />Section 2: That an amendment to the contract between the City of Santa Ana <br />and the Board of Administration of the Public Employees' Retirement System is hereby <br />authorized in accordance with the terms of Exhibit "A". <br />Ordinance No. NS-2772 <br />Page 1 of 7 <br />