Amendment-2000-085 - Laserfiche WebLink

Home Browse Search

REQUEST FOR COUNCIL ACTION gducelion ,at CITY COUNCIL MEETING DATE: MAY 1, 2000 TITLE: AMEND THE CITY'S CONTRACT WITH THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM TO PROVIDE SECTION 21548, PRE -RETIREMENT OPTIONAdL_ SETTLEMENT_` 2 DEATH BENEFIT CLERK OF COUNCIL USE ONLY: APPROVEP -, As Recommended ❑ As Amended d®®® Ordinance on 1 st Readi*Dl, Ordinance on 2nd Readin Asa Neir Implementing Resolution Set Public Hearing For / CONTINUED TO A-2000-0 85 FILE NUMBER MANAGER f rv0� - ow � 2 N=uq�4ii iP I �L4111Tl91_C IiDIG 1. Adopt a Resolution of Intention to approve an amendment to the contract between the Public Employees' Retirement System and the City of Santa Ana to provide Section 21548 (Pre -Retirement Optional Settlement 2 Death Benefit) for local miscellaneous members and local safety members. 2. Adopt an Ordin�nce authorizing an amendment to the contact between the City of Santa Ana and the Public Employees' Retirement System. DISCUSSION ; The City Council, at its meeting of October 4, 1999, approved a Memorandum of Understanding between the City of Santa Ana and the Police 'Management Association (PMA)for Fiscal Years 1999-2002. In accordance with provisions of this Memorandum of Understanding the City agreed to amend its 'Q,Vntract with the California Public Employees' Retirement System (CalPERS) to provide the Pre -Retirement Optional Settlement 2 Death Benefit for its safety employees. The Pre -Retirement Optional Settlement 2 Death Benefit is awarded to the spouse of an employee who dies prior to retiring. This benefit provides the surviving spouse with a monthly allowance equal to the amount the spouse would have received if the employee had been retired on the date of death. In calculating the benefit amount, CalPERS assumes that the employee would have elected the highest survival benefit option at the time of retirement.