1991 (Nov) CalPERS/Retirement System - Amendment 4AMENDMENT TO CONTRACT
BETWEEN THE
BOARD OF ADMINISTRATION
OF THE
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
AND THE
CITY COUNCIL
OF THE
CITY OF LA QUINTA
The Board of Administration, Public Employees' Retirement System, hereinafter referred to as Board,
and the governing body of above public agency, hereinafter referred to as Public Agency, having entered
into a contract effective December 16, 1983, and witnessed November 1, 1983, and as amended effective
November 12, 1988, November 2, 1990 and January 18, 1991, which provides for participation of Public
Agency in said System, Board and Public Agency hereby agree as follows:
A. Paragraphs 1 through 11 are hereby stricken from said contract as executed effective January 18,
1991, and hereby replaced by the following paragraphs numbered 1 through 11 inclusive:
1. All words and terms used herein which are defined in the Public Employees' Retirement
Law shall have the meaning as defined therein unless otherwise specifically provided.
"Normal retirement age" shall mean age 55 for local miscellaneous members.
2. Public Agency shall participate in the Public Employees' Retirement System from and
after December 16, 1983 making its employees as hereinafter 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 those, which by express provisions
thereof, apply only on the election of a contracting agency.
3. Employees of Public Agency in the following classes shall become members of said
Retirement System except such in each such class as are excluded by law or this
agreement:
a. Employees other than local safety members (herein referred to as local
miscellaneous members).
4. In addition to the classes of employees excluded from membership by
said Retirement Law, the following classes of employees shall not
become members of said Retirement System:
a. SAFETY EMPLOYEES.
S. The percentage of final compensation to be provided for each year of credited prior and
current service as a local miscellaneous member shall be determined in accordance with
Section 21251.132 of said Retirement Law (2 % at age 55 Full).
6. Public Agency elected to be subject to the following optional provisions:
a. Section 20835.1 (Limit Prior Service to Members Employed on Contract Date).
b. Sections 21380-21387 (1959 Survivor Benefits) including Section 21382.4 (Third
Level of 1959 Survivor Benefits).
C. Section 20024.2 (One -Year Final Compensation).
7. Public Agency, in accordance with Government Code Section 20759, shall not be
considered an "employer" for purposes of the Public Employees' Retirement Law.
Contributions of the Public Agency shall be fixed and determined as provided in
Government Code Section 20759, and such contributions hereafter made shall be held by
the Board as provided in Government Code Section 20759.
8. Public Agency shall contribute to said Retirement System the contributions determined
by actuarial valuations of prior and future service liability with respect to local
miscellaneous members of said Retirement System.
9. Public Agency shall also contribute to said Retirement System as follows:
Public Agency shall contribute $2.50 per employee, per month on account of the
liability for the 1959 Survivor Benefits provided under Section 21382.4 of said
Retirement Law. (Subject to annual change.) In addition, all assets and
liabilities of Public Agency and its employees shall be pooled in a single account,
based on term insurance rates, for survivors of all local miscellaneous members.
b. A reasonable amount, as fixed by the Board, payable in one installment within
60 days of date of contract 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 periodic investigation and valuations required by law.
A reasonable amount, as fixed by the Board, payable in one installment as the
occasions arise, to cover the costs of special valuations on account of employees
of Public Agency, and costs of the periodic investigation and valuations required
by law.
10. Contributions required of Public Agency and its employees shall be subject to adjustment
by Board on account of amendments to the Public Employees' Retirement Law, and on
account of the experience under the Retirement System as determined by the periodic
investigation and valuation required by said Retirement Law.
11. Contributions required of Public Agency and its employees shall be paid by Public
Agency to the Retirement System within fifteen days after the end of the period to which
said contributions refer or as may be prescribed by Board regulation. If more or less
than the correct amount of contributions is paid for any period, proper adjustment shall
be made in connection with subsequent remittances. Adjustments on account of errors
in contributions required of any employee may be made by direct payments between the
employee and the Board.
B. This amendment shall be effective on the day of
e"a , 19 q / 4`15
S
BOARD OF ADMINISTRATION CITY COUNCIL
PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF THE
CITY OF LA QUINTA
BY
CHIEF, CONTRACT SERVICES DIVISION
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
PERS-CON-702 (AMENDMENT)
(Rev. 3/91)
BY
limiu-
Presid6ig Oif c r
Witness Date
Att
lerk