Loading...
HomeMy WebLinkAboutRes -1572 - Public Employees' Retirement SystemRESOLUTION NO. 1572 ='1~:,~ EAST SAN BERNARDTNO COUNTX WATER DISTRICT RESOLUTION AUTHORIZING A CONTRACT PROVIDING FOR THE PARTICIPATION OF THE PUBLIC AGENCY IPd THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM, MAKING ITS EMPLOYEES MEfdBERS OF SAID SYSTEM 4JfiEREAS, the Public Employees' Retirement Law provides for the participation of Public Agency in the Public Employees' Retirement System, making its employees members of said system, and WHEREAS, the __ BOARD OF DIRECTORS of EAST SAN BERNARDINO COUNTY WATER DISTRICT (Name of Public Agency) on July 24 , 19 72, adopted a Resolution giving notice of intention to approve a contract providing for such participation, and WHEREAS, the employees of said Agency, whose memberships in said Retirement System are contemplated, have approved said participation, by majority vote, NOW, THEREFORE, BE IT RESOLVED, that said EAST SAN BERNARDINO C j~7ATF.g~ Name of Governing Body DISTRICTauthorizes, and it does hereby authorize a contract between said EAST SAN BERNARDINO COUNTY WATER DTST C~1Tid the Board of Administration, (Name of Governing Body Public Employees' Retirement System, a copy of said contract being attached hereto marked Exhibit "A" and by such reference made a part here- of as though herein set out in full, and BE IT FURTHER RESOLVED, that the presiding officer of said EAST SAN BERNARDINp Name of ~" COUNTY WATER DISTRICT be, and he is hereby authorized, empowered Governing Body) and directed to execute said contract BERNARDINO COUNTY WATER DISTRICT. Public Agency Adopted this 14th for and on behalf of EAST SAN (Name of day of August , 1872 , ~~-~~~ rresiaing uxn.cer Attesty RAYMOND E. STALLWOOD, President Board of Directors of East San Bernardino County Water District ~-7 ~:i'a o . Ric r~} • Secretary Board of Directors East San Bernardino County Water District PERS-ACT-13 (Contract) 11/71 ~1CTI02a OF GG~r::;';iliiG~r:.^:~'.T ~os~ d of :?3ru:in:istration :~.b1ic ,~ p1o,,reesP Retirement System i'. 0. Bo:c 1i5~ Sacramento9 California 95II09 i hereby ceriifys LAT3e A-uaust .15, i~77_ -- That the Board of Directors of the~;~gt fin, ?rr'^~r~~p County Th'ater District adopted on August 1~ . ].97~ by an affir:~.tiva vota of a. majority of the members of said governing body ,Reso].ur_~_n_^ , i~Io, 1572 approving tho attached , ~~nrmaz~r^ bett.aer. tha governing body cf said Agency and tho Board of Admin::.stration of the Public E:;;ployees~ Retirement System, a certified copy of said ResQl~j,on i X72 in the form furnished by said Board of Administration being attached ercto, i C:%~?.°c:os Secretax^f, Harold G. Rickert Board of Directors East San Bernardino C~ ,n ~~ '~?~Lr ri Gtrict i:~ame of Agency PEP.;:-ACT-5 ~2/'il) COAITRl:CT B;~Tl•at.I;r1 THE EO,LSD GF ADI4INISTRATION PUBLIC Ei•'~PI.OYEES~ RETIREN~IT SXSTEl4 AND THE BOARD GF DIRECTORS OF THE EAST SAN BERidARDINO COUNTY WATER DISTRICT Tn considera'tion of the covenants and agreement hereafter ccntair:c~d and on the part of both parties to be kept and performed, the EOARD OF DI:cJCT~::, of the E.',.ST SRN BEPu'~IARDINO CO"LINTY 1dATER DISTRICT, hereafter referred to as "P'up:iic Agency" a:xi the Bvard of Administration, Public Employees Retirement System, hereafter rerorred to as "Board° hereby agree as follows: 1, il.l words and terms used 'rerein vrhich are defined in the Public irapioyees f Retirement Lava shall have the mc;,ning as defined therein unless othervr~se specifically provided. ~'iVor,-na]. retirement age" shaLL mean age _b0 for •_= miscellaneous members. 6. Public Agency shall participate in the Public Employees} Retirement System from and after Auaust 21 , 19,2, making :Cts employees as here- ira£ter provided, members of said System subject to all provisions of the Public Employees Retirement Law except such as apply only on election of a contracting agency and are not provided for herein and to all amendments to said Law hereafter enacted except such as by express provisions thereof apply only on the election of contracting agencies. j. ;employees of Public Agency in the following classes shall become meaber~ of said Retiremerlc System except such in each such class as are exoluded by law or this agreement: a. Employees other than local safety members (herein referred to as miscellaneous members). The follotr~.rg employees shall be excluded from membership in said Reti e- ment System: NO ADDITIONAL EXCLUSIONS :r.. Assets 'reretofore accumulated vrith respect to members in the loc;.l 3atire- r:ent Systcra shall be transferred to the Public Employees Retirement Syste~, urithin c0 days after the effective date of this contr. act and applied against the llauiiity fcr prior service incurred hereunder. That portion of the assets so transferred which represents the accumulated contributions (plus interest thereupon) required of the employees under said local systc shall be credited to the individual membership account of each such emaloyee w.dsr th® Public Ernployeas+ Retirement System. Rot. Form 166-1 5. The fraction of final compensation to bo provided for each year of credited prior exd current service as a miscellaneous rnernber upon retire:r.,ent at norrial retirement ago shall b© applied as provided in. Secticn 11251,13 of said i?etirement Law and reduced for members covered under I'eder;;i. Soca.a]. Security provided, hoiaever, that said reduced fraction shall apply Drift. respect to all servico of such member whether or not the service is in- cluded in Federal Social Security. 6. Contributions for miscellaneous membors shall be subject to Section 20603 of said Retirement Law, said saction providing for a reduction in rates of contribution as such rates relate to the first w1;C0.G0 of monthly compensation and 100p of such rates as they apply to t.e remain- der of the monthly compensation. 2•:embers whose positions are excluded from Social Security coverage shall. contribute in accordance vrith Secticn 20603 of said Retirement Law as it applies to the full formula. 7. The follo~ring additional provisions of the Public Employees' Retirement Law which apply only upon election of a contracting agency shall apply to the Public Agency and its employees: ~; „_; ___ a. That portion of Section 21251.13 o:hich provides for reduction ian the percentage of final compensation for members covered under Social Security. b. Section 213b1.5 (prov-iding that years of service rendered as a me~~oer of the Local retirement System prior to the effective date of this con- tract shall be~included in the computation of the basic death benefit provided in Section 213b1 upon the death of any member who +ras also a member of the local system). S. Public Agency shall contribute to said Retirement System as follows: a. Yiith respect to miscellaneous members, the Public Agency shall coat;-i- bute tha follooiuig percentages of z:onthly salaries earned as miscella- neous members of said System: (1} 2.83 percent until Jm7e 30; 2000, on account of the liabilit~• for prior service benefits less 1.28 percent of total salar`_as paid to members for each $100,000 of assets transferred to the .. Public Employees' Retirement System to the extent such trans- ferred assets exceed the accumulated local system contributions of members transferred under Paragraph 4. (2) 7.15 percent on accoun'c of the liability for current se: vice benefits said percentage being fixed by Section 20'j50 of the Retirement Law. b. k reasonable amount net annum, as fi:ced by Board to cover the costs of administering said System as it affects the employees of Public :ency, not including the costs of special valuations or the periodi- cal investigations and valuation required by law, provided that said amount shall be determined on the basis of the number of Ret. Form i2b-2 .~ employees of Public Agency vrno are reported as members cn a payroll to be designated by this System covering one rnoai;h of eaci; Dear, or vrith respect to the first year of participation, on the effec- tive date of said participation. c. A reasonable ariount as fi~;ed by the Board, payab:Le in ono insta_.i- mcnt as tho occasions arise, to cover costs of special valuations on account of employees of Public Agency, and costs of the periodi- cal investigation and valuation required by law. 9. Contributions required of Public Agency and its employees shall be sub- ject to adjustment by Board on account o£ amendments to the Public Employees Retirement Iavr, and on account of the experience under the Retirement System as determined by the periodical investigation and valuation required by said Retirement Law. l0. Contributions required of Public Agency and its employees sh~.si1. be paid by Public Agency to the rr^.etirement System vrithin thirty days after the end of the period to vrhich said contributions refer or as may be prescrii~ed by Board negotiation. If mere or less than the correct a.,ona of contributions is paid for any period, proper adjustment shat be rade in cormection vr~th sub^,equent -remittances, or adjustments on account cf . errors :;n contributions required of any employee may be rcade by direct cast: payments between the employee and Board. Payments by Public Agency to noa_ni may be made in the form of vrarrants, bank checks, bane drafts, certified checks, money orders, or cash. ;~'= -- .~;.ness our hands this BG.tiFiD OF AO:~i1:`:'STRATIOi1 Pi7BLIC .~~yIAYr.ESi RG'TIREh~iiT SYSTEN day of August 1972 BOARD OF DIRECTO.~.S OF THE EAST SAN BERNA.T3D1~10 CGt3\iY kTATER DISTRICT IIY 4liLli.am E. Payno, Executive Offieer lath ~j `' ~~2~3;~ecrF:tary,//Harold G. Rici:ert Board of `Directors ~. :% BX i ~~~ ~- ~ i~%~ `~ Presiding Officer, president Raymond E. Staliwood Attest: Rot.: orm L?b-