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BALLOT Thhase Public Agency named herein ELECTIONB LL ■ election to t i to" notice provide fpr prior service - - benefit at the full For Use By - amount as described in item 3. LOCAL POLICEMEN TO DETERMINE THEIR APPROVAL OR DISAPPROVAL OF THE PROPOSAL OF • City Council - - (Governing Body) -OF THE City of Santa Ma (Name of Public Agency) TO ENTER INTO A CONTRACT WITH THE BOARD OF ADMIN- ISTRATION OF THE STATE EMPLOYEES' RETIREMENT SYSTEM TO INCLUDE SAID EMPLOYEES IN SAID RETIREMENT SYSTEM Vote by making a cross (X) in the space to Shall the above designated employees of the Public the right of the word indicating your desire. Agency named above, be included in the State Employees' Retirement System? YES NO SUMMARY OF MAJOR PROVISIONS OF THE PROPOSED RETIREMENT SYSTEM if The System is administered by a board ofeight members, composed of three members of the System,an official of a bank,an official of a life insurance company,the Director of Finance, a member of the State Personnel Board,and an official of the University of California. 2. Retirement for service is optional upon attainment of age 55 by local firemen and local policemen, and age 60 or age 55 at the election of the Public Agency, by other employees, and completion of twenty years of service for the public agency, and is compulsory at age 65 for local firemen and local policemen, and at age 70 for other employees. 3. The monthly retirement allowance payable upon retirement for service is dependent upon such factors as age, sex, salary and years of service. For local firemen and local policemen, retiring at age 55 in paragraph 2,or at a higher age with 20 years of service, the monthly allowance is approxi-, mately one-half the average monthly salary during the five years immediately preceding retirement, unless the Public Agency elects to provide prior service benefits at less`than the full amount. For other Agency employees, the monthly allowance, upon retirement at age 65 if the Agency elects.60 - as the lowest optional service retirement age, is approximately 1/70th of the average monthly salary during the five years immediately preceding retirement, for each year of service after the effective date of participation, plus approximately 1/70th, or less as may he provided in said contract by the Public Agency for its employees,of the average monthly salary during the three years immediately preceding the effective date of participation,for each year of service prior to that date. Upon retirement at age 60,if the Agency elects 55 asthe lowest optional service retirement age, the fraction is approximately 1/60th instead of 1/70th. LOVER]