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Home My WebLink AboutContract March 28, 1966CONTRACT OF CITY OF SANTA ARIA WITH THE STATE EMPLOYEES' RETIREMENT SYSTEM FOR MAKING A VALUATION AS STATED HEREIN By this AGREEMENT made this ,`�c5'd day of Al, 9 Z,_, in accordance with and subject to the provisions of the State Employees' Retirement Law, by and between the CITY COUNCIL of the CITY OF SANTA APIA hereinafter referred to as Agency, and the State Employees' Retirement System here- inafter referred to as System, Agency and System agree as follows: A. Agency herewith retains the services of System to perform, as of March 1. 1966 the valuation required by Section 20461.1 of the State Employees' Retirement Law for the purpose of determination by the Board of Administration of the State Employees' Retirement System of the contributions to be made by Agency under Agency's contract with said Board if the benefits under said contract, described in the attached Exhibit A, are changed as follows: Add Mm -gm item W 7.06 (for inclusion of Section 20814.5) from the description in Exhibit A to the description in the attached Exhibit B. B. Agency will pay $! >E to System upon completion of the valuation, such fee being based on -the number of persons and membership categories involved. C. Any and all data and information requested by System from Agency for use in compilation of this valuation shall be furnished to System by Agency upon request by System. The actuarial tables and procedures to be used in the valuation shall be in accordance with the tables approved by said Board of Administration. System shall have sole control of the valuation and its judgment in the determination thereof shall be final and conclusive. All work sheets and final results and reports, the product of the valuation, shall be and remain the property of the System. Witness our hands the day and year first above written. STATE EMPLOYEES' RETIREMENT SYSTEM BYd i /�,�Z5& g ,W111JAM E. Fayne;,KXecgVve Officer Fee not to exceed x`5.00 per employee valued, Amendment CITY OF SANTA A11A Ret. Form 424-A SERS (3/65) 500 Cotitrac,tStatus as of FebrLwar l jl)65 for ,.P. '�'_� ' � , v Code 'a37 _-utu6 release number 59 Amended:�(,� y ')-144,9 1 i%� 20493 or 20580 effective fkA, ;,FK �ra�1F Alpha 3K0 �i- E1,sri 65 a b� c d a 1,0 Coverage: 1.01 SERS since. . . . 1.02 OASDI since (D=Di.v,, A=All) 1.03 retro to. . . . 1.014 Former Group A re-employ as 1.05 Refund retro OASDI adj.contr. 2.0 Local System. . . . . . . 2.0.1 Use age for contr. rates. . . 2.02 Employee contr. transferred 2.03 Retired lives transferred . 3.0 Retirement Formula; 3.01 Basic Formula . , . . . . . 3.02 Percent for P/S . . . . . 3.03 Misc. P/S improved to. . . . 3.04 Minimum Retirement Age. . . . 3.05- Minimum Guarantee . . 3.06 Mod. lst $ for OASDI from 3.07 until . . . . 3.08 thereafter lst $ to. 3.09 thereafter let $ to. 3.10 Ordinary disability formula . 3..11 Disability limit (section). , 4.0 Compensation Average: 1..of-737777s Benefits. . . . . . . 4.02 For C/S Benefits. . 4.03 Gr. since 1�bzexu16�m. 4.04 Include overtime. .. . 5.0 Post-retirement Death Benefits: 5.O1 Lump Sum. . . . 5.02 1/2 continuance (21264) . . 6.0 Pre -retirement Death .Benefits: 6.01 Local System contr.. credit . 6.02 Local System serv. credit . . 6.03 157 Survivor (21.365.5) since. 6.04 159 Survivor (21380!rt) since. 6.05 Safety violent indust.(21364) ous FIRS t ,rw N, I I ;�� Q t F I'@ 4 5 1 s - :.0 o 7.01 7.03 7.04 7.05 7.06 eciai oervice: CIS pre -membership (20804.5) Mil. ® agcy. cost (20894..5) P/S with 10 yr.0/S (20834.1) P/S wage other source (20839) Local Service credit (20814.5) 9-1-63 d.0 Allowance Increases: 8.01 To member formula (21251.3). . . 8.02 $100 min. guar, (21'258.2). . 8.03 '55 to pre -3 yr. ave. (21251.4) . 8.04 57 to pre -7/2/56 ret,(21251.5). 8.05 For 20834.1 service (20834.2). 8,06 For 20839 service (20840). . . . 8.07 163 to Erre-1/1/62 ret (21251.6). .4"-1-.51 x-= 9w. m1 do r)7.-5 T.,774 No No No Yes No tui, ons ECHIBIT B Ret. Form 556-s (Rev. 8/62) Contiact, Status as of Fpu u, i for l ,,, Code 1LJ,7 Amended: ,�n, ��.� I``;i4 g 1®,gar 1.0 Coverage: 1.01 SERS since. . . . . 1.02 QASDI since (D=Div:, A=All.) . 1.03 retro to. . . . . . . . 1.014 Former Group A re-employ as . 1.05 Refund .retro QASDI adj.contr. 2.0 Local System. . . . . . . . 2.01 Use age for contr. rates. . . 2.02 Employee contr. transferred . 2.03 Retired lives transferred . 3.0 Retirement Formula: 3.01 Basic Formula . . . . . . . 3.02 Percent for P/S . . . . . 3.03 Misc. P/S improved to. . . . . 3.04 Minimum Retirement, Age. . . . 3.05-- Minimum Guarantee . . . 3.06 Mod. Ist $ for QASDI from 3.07 until . . . . 3.08 thereafter let $ to. 3.09 thereafter 1st $ to. 3.10 Ordinary disability formula . 3.11 Disability limit (section). . 4.0 Comensat'ion Average: 4.01. For P S Benefits. . . . . . . 4.02 For C/S Benefits. . 4.03 Gr, since al.r6. It. 04 Include overtime,. . 5.0 Post-retirement Death Benefits: 5.01 Lump Sum. . . . . . . 5.02 1/2 continuance (21264) . . 6.0 Pre -retirement Death Benefits: 6.01 Local System contr, credit , 6.02 Local System serv. credit . 6.03 '57 Survivor (21365.5) since. 6.04 159 Survivor (21380`0 since. 6.05 Safety violent indust.(21364) 20493 or 20580 effective°, ( "F::a ;le Alpha 38fa: 7-1-[l 7 1 '„ a , .., ) l'lt' 6 (i� 2 7.0 Special Service 7.01%C S pre -membership (20804.5) 7.03 Mil. @ agcy. cost (208945) 7.04 P/S with 10 yr.0/S (2.0834.1) 7.05 P/S wage other source (20839) -)-1-6`$ .0 Allowance Increases: 8.01 To member formula (2125]..3). . . 8.02 $100 min. guar. (21.258.2). . 8.03 '55 to pre -3 yr, ave. (21251.4) . 8.04 '57 to pre -7/2/56 ret.(21251,5). 8.05 For 20834.1 service (20834.2). 8.06 For 20838 service (20840). . 8.07 ---"63 to pre -1/1./62 ret (21251..6). 971m, 71, 7c)77L-1,.. ,,7;'� 7 Nea ifs, Tic flea 14o EXHIBIT A ,rr t Ret. Form 556-s (Rev. 8/62) STATE OF CALIFORNIA—BOARD OF ADMINISTRATION _ _ _ EDMUND G. BROWN, Governor STATE EMPLOYEES' RETIREMENT SYSTEM��vWil�___._r—.._._�� 1227 O STREET, P. O. BOX 1953 ..o, .+. SACRAMENTO, CALIFORNIA 95BO9 Please Di,.d You, Reply to 23 Raper to Member Account Numbor......._,_.,__.__............._.___.,„ June 27, 1966 Mr. James M. Rez, Director of Personnel The City of Santa Ana Room 307, City Hall Santa Ana, California \\ The contract x= for a valuation to determine the approximate cost for your participating in the State Employees' Retirement System has now been executed by all parties concerned. We are returning a copy of the executed contract for your files. Encl. Donald W. Parkyn TAw=XR4XweXa Assistant Actuary USISTANUREMOM a Ret. Form 917 (Rev,_$/58) 200 March 24, 1966 Mr. Thomas F. Crocker State Employees' Retirement System 1416 Ninth Street P. 0. Box 1953 Sacramento, California Dear Mr, Crocker: The agreement regarding crediting of service, described in your letter of December 13, 1965 to Mr. James Rez, has been approved by the City Council and signed on behalf of the City. The original and two copies are enclosed. After the contract is signed by your executive officer, will you please return one copy to me. 'Yours very truly Doris M, Brown (Mrcj,) Clerk of the Council enclosure joe STATE OF CALIFORNIA—BOARD OF ADMINISTRATION STATE EMPLOYEES' RETIREMENT SYSTEM 1416 NINTH STREET, P. O. BOX. 1953 �:. SA{1ip,},SpNt;p CALIFORNIA 95809 I �" STA ]LEY B. FOWLER, President Reply to Section 23 . OTT I PALOMBO, Vice Presided DR. TESTER BRESLOW PATRICK R. BYRNE GORDON. 9- CAMERON HALE CHAMPION DONALD GALLAGHER December 13, 196} A. W. 'JOE" HISLOP' RICHARD A. LIEBES - LUCY E. RITTER. JOSEPH L. WYATT, 1R. h Mr. -James M. Rez Director of Personnel _ City of Santa Ana Room 307, City Ball Santa Ana, California Dear Mr. Rez: Thank you for requesting informatiofl concerning the provisions of Section 20814.5. This section provides foil the crediting of service which has been rendered to local jurisdictions whose employees are not covered under this System. To order for any employee of your Wendy to elect credit for such service it would be necessary for your governing body to amend its contract with this System, Because a contract amendment would offer ;he right of elect - OF credit for local service to all employees of the City of Santa Ana, the first step is for your officials to secure statements from each employee identifying possible service stick might be elected by each of the present members under your contract. in order to accomplish this, we are enclosing samples of the form thick should be completed by each member who has rendered "local service" which might be credited if your contract is amended. You should reproduce this sample in order to furnish a copy of this form to each person who has some nrevious employment with any political subdivision of the State of California. We will eliminate from the valuatiDn any consideration of service to agencies indicated who might already be under contract where such service is creditable under other provisions of the law. -51 r EDMUND G. EtRO N, Govemor A check mark within a space for each month will be sufficient to indicate full time service, inhere employment was less than full time, the; number of days or hours worked each month should be shown. Please type the member's name and his social security number on the top of each form. if all service being claimed by any member is with one agency, the name of the agency and the department thereof should be entered at the trop in the space for "?b'ic Agency". However, if the claim involves more than one agency, each agency should be listed on the form with beginning and ending dates shown in each case. Completed claim forms for all of your members who might be affected City of Santa Ana -2- December 13, 1965 should be returned in a group to this office. The first phase of our work will be to compote the member contributions that will be required in each case if the member finally elects in favor of crediting the service indicated. An actuarial valuation would then be conducted in order to estimate the cost to the Agency for adding this provision. Our actuarial report will be accompanied by a list of the employees involved showing; the additional sere - ice credit which they might receive, our computation of the member contribu- tion required, and the increased monthly retirement benefit (for age 65 retirement) which *,could result. Once ,your agency's cost is established the City Council of the City of Santa Ana could adopt the necessary contract amendment. our fee for the valuation will be based entirely on the time required of our staff to make the necessary computations. We do not expect that the fee w:•..11 exceed :$5.00 per employee valued. We are enclosing actuarial contracts for this purpose (Form 424--A 5i . These are to be completed and returned to us in triplicate. A fourth copy is enclosed for your file. When the contract has been executed a d approved by ozr Executive Officer, one copy will be returned for your files. Yo%urs truly, THol'LxS F. CROCKiia ASSISTAIT ACTUAPY I C:er encls. FAT 2/13/66 b