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C. A reasonable amount, as fixed by the Board, payable in one installment as the <br />occasions arise, to cover the costs of special valuations on account of employees <br />of Public Agency, and costs of the periodic investigation and valuations required <br />by law. <br />11. Contributions required of Public Agency and its employees shall be subject to adjustment <br />by Board on account of amendments to the Public Employees' Retirement Law, and on <br />account of the experience under the Retirement System as determined by the periodic <br />investigation and valuation required by said Retirement Law. <br />12. Contributions required of Public Agency and its employees shall be paid by Public <br />Agency to the Retirement System within fifteen days after the end of the period to which <br />said contributions refer or as may be prescribed by Board regulation. If more or less <br />than the correct amount of contributions is paid for any period, proper adjustment shall <br />be made in connection with subsequent remittances. Adjustments on account of errors <br />in contributions required of any employee may be made by direct payments between the <br />employee and the Board. <br />B. This amendment shall be effective on the lst day of January 19 95 <br />BOARD OF ADMINISTRATION <br />PUBLIC EMPLOYEES' RETIREMENT SYSTEM <br />BY <br />CHIEF ACTUARY V <br />ACTUARIAL OFFICE <br />PUBLIC EMPLOYEES' RETIREMENT SYSTEM <br />Approved a t" a;°m*ent <br />city 11!13nagar <br />APPROVED A5 TO FORM <br />CITY AiT=d <br />AMENDMENT <br />PERS-CON-702A (Rev. 3/95) <br />CITY COUNCIL <br />OF THE <br />CITY OF SANTE <br />Wd <br />0 <br />Witness Nate <br />Attest: <br />N <br />Pulido, Mayor <br />I <br />/M Cler Janice C.`G <br />uy <br />