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STATE OF CALIFORNIA - RONALD REAGAN, Governor <br />PUBLIC EMPLOYEES' RETIREMENT SYSTEM <br />1416 NINTH STREET, P.O. BOX 1953® ' <br />SACRAMENTO, CALIFORNIA 95809 <br />STANLEY B. FOWLER, President <br />OTTO PALOMBO, Vice Presidenf <br />W. JAMES DAWSON, D.D.S. <br />BARTLETT T. GRIMES <br />ROBERT R. HEADLEY <br />A. W. "JOE" HISLOP <br />WILLIAM G. MAAS <br />VERNE ORR <br />JAMES A. TAYLOR <br />NEVILLE W. TURNER, M.D. <br />JOSEPH L. WYATT, 1R. <br />Florence I. Malone <br />Clerk of the Council <br />City of Santa Ana, <br />217 North Main Street <br />Santa Ana., California 92701 <br />Dear Miss Malone: <br />September 16, 1971 <br />Reply to Section 23 <br />In accordance with your request, we are transmitting with this letter the report <br />on our actuarial valuation to determine the cost of participating with the Public <br />kGmployeesl Retirement System on the following basis: <br />1. Report A: Providing 2' at 50 benefits (instead of 1/2 at 55) <br />for safety members. <br />Please let us know if you wish to proceed with an amendment adding the above change <br />to your contract. If so, wi,Z'1 you please comJlete and return one copy of the enclosed <br />Form 121(a) listing the change desired in Part "AI' and the anticipated dates on which <br />your agency will take the necessary action in Part "S". When you complete the antici- <br />pated schedule of agency actions under Part B of Form 121(a), please allow at least <br />two weeks from the date your .Dorm 121(a) reaches the Retirement System to the date <br />set for your governing body's first step, the adoption of their Resolution of Inten- <br />tion. That resolution must meet certain specific requirements under the Retirement <br />Law and must also carry with it as an attachment a copy of the proposed amendment. <br />Therefore, it is necessary that this document be drawn by the Retirement System <br />office. After an executed copy of the Resolution of Intention is received here, we <br />will forward the ordinance and other final documents to be executed by your govern- <br />ing body. <br />You will be billed in the near future in the amount of $256.00. <br />MC:er <br />encls. <br />Q' <br />f Y s'J <br />l / <br />Yours truly, <br />Kisuk Yang <br />Actuary <br />p19'tl OR 'u/ulrT/A /ANR <br />