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Home My WebLink AboutAgmt_1952_November 3_SERS - -..... ~~-- STATE EMPL.OYeES' RETIREMENT SVt:trEM SACRAMENTO 14, CALIFORNIA (ton tract BaTYllllN ~unYJ!i CClMMITm -------. NA:a.m M 1.Muu.11VB BaD'!' OP awlGB cootm: JOIBT 0t1TP'AU. __ N.ua. OF CnT, CoinnY, ScHooL DuTueT, oa 0nIu ~ ~'i' AND 11fIl BOARD OF ADMINISTRATION OP 11fIl CALIFORNIA STATE EMPLOYEES' RETIREMENT SYSTEM 'this. SlgtttmtDt made this_____~_day oL:Jz I ,!!:__c___"_-!-!c~_______, 195 .:l..iby and between the-r - 1. .. gwpILCOun'n. JODlT OUTFIT.T. BWII________ NI._ of crtr. Covatr. School Diftril:t. or ~ raMie Apacy bereUter refernd to as "l'Qblic Agcnq," and the Board of Administration, California Sta~ Employees' ~t ~ bereU_ refernd to as ''Board." WITNESSETH: In consideration of the covenants and agreements hereinafter contained and on the put of both ponies 10 be kept and performed, Public Asmcr and Board hereby ag.... as fol1ow.. 1. Public Agency is 10 particlpa~ in the Sta~ Em~yeet' Retiremeot Systeni, -Miject to the provisions of the ~ Em~,...' Retirement Law. 2. Public Agency sbaIl participate in said Retirement System, making its employ.... member$ of said S,-. frolD and afteL_l!~~~__l____________, u52__. 3. Empw,... of Public Agency in the following cia.... sbaIl become menibers of said Retirement System in accord. ance with the provisions of said Retiremeot Law, governing membership in said Retirement System, and subject to the further exchuions from membership in the next following sentence, NuuaD. OP DCPLOYus IUGJaLB 'JIOI. Uflft.i!, SHIP .. LouI Firemen, as definecl in tne State Employccs' R.etirement Law ON~__~l..2.... . NoNE a.ASSIS OF IMPtOYEBS ---------------------------- . . . h. Loc:al Policemen, II defined in the Sute Employm' Retirement Law NoNE e. County Peace Officert. as dcfi.ned in the State Employea" B.etiraneo.c Law . \ J. Employees other dun Local Fi..retnen, Local Policemen, and County PC2Ctoticer. .................. NoNE -----_.g!_-------------_.:.. " laeD In addition to the 'hu~joyees excluded from membership by said Re(.,nen; Law, the following employees" become members of the Retirement System: NO ADDITIONAL ElCCLUSIONS Board and Public Agency agree that, except as provided in, paragraph 12, no adjustment shall be~ade in- the. amo'!l:nt of co~tri":" butions provided in paragraph 12a on account of prior service, or-in the percentage provided iii paragrap~ 12b, beca~seof variations in the numbers of employees who become members of said Retirement System o~ :thee~fe~tive;~~telwreqfJ~~r.?Il}~ the number listed above, due to termination of service by such causes as death, resignation or di~charg~, or ..~he,enl:pl~Y_IJ?_~.Il~; of individuals not included in said number. - ',,' ": 4. Age"____6'O_____~_____________.shall be the normal minimum age for retireme~t for service)6fini;~~Ilai1_eo#s ("60" or "6~") , . .. 'c". ' , ,'e -- employed by public agency, that is, members other than LQcal Fir~men, Local Policemen and ,CguIlty -Peace :Officeri!;'and , . '." .' ,'. .--" .... .' . ,.:.... ,-'. , ~ __ ,____Qne~.s..jxti_@..th_____~___~~_______________shall be the fraction of final compensation,' as define4 in s~id }tetirement ("one-lixtieth" if age i. 60,or "one-Ieventieth" if age is 6') - be provided on the average, for each year of service as a member, by the members' -arid Public )\genci~ nor,?tal upon retirement at said minimum age. '~ .' .:"..." 5. Benefits on account of prior service, that is, service credited hereunder as ren'4ereClto.,:pti1?UcAgenc~pripr-to the effective date of participaticn, to respective members employed by Public_ Agency as Local 'FireJ:llen~ Loc,aI-police~~~.or Cd~i1ty Peace Officers shall be allowed only as a percentage of the average salary specified in said Ret~rement ~_a~,for .'~aclI ye~r~f such service, and said percentage shall be__________~~~~~~-~----~-.per cerit of the fraction ,offi:nal t6rripehsii'tlhn;'::'~lsdefined ,in (such u "50," "7',""100") .' ..-" '". .,'_' . L...".. ,'_ .-: tbe State Employees' Retirement Law, for each year of service rendered after said date, as determiB.~,d Jp~,:,sai51J~~p~,#JJY~ members under said law, for retirement for service a~age 55, or upon qualificatio~ f,?r s~rvice.ret~r~~e*i_~~~')~r;'high~{,age.; If a member retires for service before attaining age 55, his prior service pension shall be.i'educe~ 'to ,tpat ~mo\int whichihe" value of the pension as deferred to age 55 will purchase at the actual age of re~irement. . .~_ i'~:'~ :co,"~;' .::~,:. :::;.':',;' , "-...',"':..".' -.' ';~ 6. Prior service benefits to miscellaneous members employed by Public Agency, tha,! is" f1?:emb'~!s"'6the~t~aI{~Oca.f Firemen, Local Policemen or County Peace Officers, upon retirement for service at the p;6r~al,-nii~i.~m:~ge-i.e~t~r~4 iA paragraph 4 hereof, shall be allowed only as a percentage of the average sal~ry specified in Se~tion,c,-,;,;;-~2J.~-A:~J;i~'~'~~,~~~~+-.('{sa.id.: . " (20_~H"or :Z1,2~~)' ",: Retirement Law, for each year of such service, and said percentage shall be__.;.___,____.:'__n__,-~-~-n~-~,~,~-,lQQ~~~~.~:7:~~-~~~-.~L:~.p_erS~_!lt-:oi; ....~~...EEl~.~El!1~gEl."<!El.~El!~!lEl.<!".1:l!l~El!..!I.11!<!..!IEl<:~!~~".m"""...",m"."""":.~'"~,~':';~'~:f~~:~J~::~~i:i~tii;~icf':" ("one-sixtieth" o~ "one_.evendeth" if minimum age above is 60 or 65 and ,eetion .,'. ":'~~'/:';:" j, 20115; otherwi'e "the percentage determined under uid I"don") ,. -, -:;~.\i,-, before attaining the normal minimum age entered in paragraph 4 hereof, his prior service-'pepsi;o~ '~h~~l~<'!:~~.u~ed .~~ :iha~ amount which ~he value of the pension as deferred to said minimum age will purchase at the aduil.age 6fJ;~tireInen.t. .,-." other than OI1e-reveotieth . ..;, "<>'" . "" 7. If the fraction stated in the preceding paragraph is BJusixtiietk, the prQvisionS9~ SectiQn .'~\~D~J p,f thJState'~ Employees' Retirement Law, providing for a guaranteed percentage of final comp~J:lS~_~~9~JO(-~!lC~ yea(~f.~cUr~~nt ~ervice .'., as a member, _____ ____SHALLn___nmnn_________apply to employees of Public Agency who become._meir1p.er~,9r.~ahi,.~~t:i;_~~~t ~y~!:t:p1~ ("Ih~ll" or "shall not") , -' . '" , " . - :.,',,, . . .,., '---" 8. The provisions of Section 21252.4 of the State Employees' Retirement Law, ,!,~oYid~g fo(~, gu~X~riteJ~(.-p~r~- ;, ,.~. .'.'- -",:. ,... centage of final compensation for each year of current service as a member,__n___~_~~~~;;:,~~_;~:~~~ppiy.:,to_#plot~~-{:6f ("shall..or"-shall~_t~.)' ,~~,' . :,;"'; ,'~'~::"f',," :- Public Agency who become members of the Retirement System as Local Firemen, Local Policemen 'or 'Couhty ~eace bf6.c!rs. < , , ~ ' " \, ~ ~ c~ - .'" '.~" - ":' >^'.':,~~,~;,,;?:<~:;\'..;,~,JJ":~,; 21258b .." "" ,"'"<' ':'~"~'" 9. The provisions of Section______ _______~_________________________of the State Employees' Retireme,nt. ~~}V;"':g~-~~J? . " (':ii:i:.~:,;,',-:;~:'::~~:~'bo::;:~{kL . ..' . -,<t:,,~~:;F1~A':iA minimum retirement allowance under certain conditions _________n_____n~________apply to ~p~oY:e_e~,,~tt'tppEsC~ ("shall" or "shall D01:'.) , " .' ,"': """., "_:,:-,,,",\;<,,.,_--c")~: -become members of said Retirement System. ' ,,' " ':"~:"~.':~' ,.-' ;!!:' "' >',,, ,:{_.' - . ~ 'N" - I 10. The provisions of Section 2L,,/.5 of the State Employees' Retirement Law,~l~ _...ding a $300 death benefit after retirement __um.sHALL__________ ___apply to employees of Public Agency who become members of said Retirement System. {"sbl1" or "sball not") 11. The provisions of Section 20025 of the State Employees' Retirement Law, providing for the portion of com"" pensation which shall be included in computations under the Retirement Law _______ ________._~_~~___n___________ --::...--------------'- {"shall" or "Sh11J not'") apply to employees of Public Agency who become members of said Retirement System. 12. Public Agency shall contribute to said Retirement System as follows: a. The sum of d?J-QB4_._2_~___per annum, payable in equal monthly orDj~;.efrequent installments as Board shall require, for a period oL___3_____________years, on account of the liability for benefits based on service rendered to Public Agency prior to the effective date hereof. b. .h..2U ______per cent of total salaries paid by Public Agency each month to its employees who are members of said Retirement System, provided that only salary earned as members of said Syst<;,:m shall be in~luded~n said total salaries, and the employees who are members of said System shall include employees ~hobecorne members upon the effective date hereof and employees who become members thereafter. ' c. A reasonable amount per annum, as fixed by Board, p"'y"h1.. :..... "''in..! ............;.t..ly 01' l-:-c!i' inEflO.R1; i19UUW.tL!J, :as 'RM..rl ..t....ll ""1":""', to cover the costs of administering said System as it affects the employees of Public Agency, not including the costs of special valuations or of the periodical investigation and valuation required by law, - provided that said amount shall be determined on the basis of the number of employees of Public Agency who are members on July Ist of the respective fiscal years, or with respect to the first year of participation~ on the effective date of said participation. - d. A reasonable amount as fixed by the Board, payable in one installment from time ~o time asthe~ccasions arise, to cover the costs of special valuations on account of employees of Public Agency, and the costs of the periodical investigation into the experience under said Retirement System, as it affects said employees, and the valuation of the assets and liabilities of said System on account of said employees. Contributions required of PubEc Agency and its employees shall be subject to adjustment by the Board of Admin- istration on account of amendments to the State Employees' Retirement Law. and on account 'of experienc~ unqer the Retirement System, as determined by the periodical investigation, valuation and determination provided for by said Retirement Law. 13. Contributions required of Public Agency under paragraph 12 immediately preceding. and contributions required of Public Agency's employees who are members of said System, shall be paid by Public Agency to the State Employees' Retirement System within thirty days after the end of the month or longer period to which said contributions refer. If more or less than the correct amount of contribution required of Public Agency or its employees is paid for;any period, proper adjustment shall be made in connection with subsequent remittances of Public Agency to the Board, to rectify. the errors.; or such adjustments on account of errors made in contributions required of employees. may be made by direct cash'payments between the employee in connection with whom the error was made, and Board. Payments of Public Agency to B9ard may be m:lde in the form of warrants, bank checks, bank drafts, certified checks, money orders, or cash. WIJ:~ESS OUR HANDS the day and year first above written. ;:;/-:' .1..L. TOO- - _J~~Q!!.IJ..VJ;_QQ;lMIJ!~E._~__________mm__C____.__~_~___ooof Name of Legislative Body Clerk _.f'JI'(_~Q.L[I[[..QulIA!,,!.___S.Ewr;JL___ By BOARD OF ADMINISTRATION ,,& II f1fl!! A TE EMPLOYEES' RETIREMENT SYSTEM ATTES~~__~~:_:_=_~ BY.oooo_~ Executive Officer Presidmt. Boara NOV 1 4 1951 UI3ISB_.9!lOC1(!)SPO