2003 CalPERS/Retirement System - Amendment 6caIrERs
California
Public Employees' Retirement System
AMENDMENT TO CONTRACT
Between the
Board of Administration
California Public Employees' Retirement System
and the
City Council
City of La Quinta
The Board of Administration, California Public. Employees' Retirement System,
hereinafter referred to as Board,. and the governing body of the 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, January 18, 1991, November 1, 1991. and
June 7, 2002 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 June 7, 2002, and hereby replaced by the following paragraphs
numbered 1 through 12 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.
5. The percentage of final compensation to- be provided for each year of
credited prior and current service as a local miscellaneous member in
employment before and not on or after the effective date of this
amendment to contract shall be determined in accordance with Section
21354 of said Retirement Law (2% at age 55 Full).
6. The percentage of final compensation to be provided for each year of
credited prior and current service as a local miscellaneous member in
employment on or after the effective date of this amendment to contract
shall be determined in accordance with Section 21354.4 of said
Retirement Law (2.5% at age 55 Full).
7. Public Agency elected and elects to be subject to the following optional
provisions:
a. Section 20938 (Limit Prior Service to Members Employed on
Contract Date).
b. Section 21573 (Third Level of 1959 Survivor Benefits).
C. Section 20042 (One -Year Final Compensation).
d. Section 21024 (Military Service Credit as Public Service), Statutes
of 1976.
8. Public Agency, in 'accordance with Government Code Section 20834, 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 20834, and such
contributions hereafter made shall be held by the Board as provided in
Government Code Section 20834.
9. 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.
10. Public Agency shall also contribute to said Retirement System as follows:
a. Contributions required per covered member on account of the 1959
Survivor Benefits provided under Section 21573 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.
C. 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.
11. 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.
12. 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.
This amendment shall be effective on the 15th day of December , 2003_•
BOARD OF ADMINISTRATION
CITY COUNCIL
PUBLIC LOYEES' RETIREMENT SYSTEM
CITY LnU TA
BYA
BY
K N . MARZVON, CHIEF
PRESI 1N OF ER
A ARI L & EMPLOYER SERVI ES DIVISION
PUBLICEMPLOYEES' RETIREMENT SYSTEM
l
Witneisi Date
ttest:
AMENDMENT ER# 1351
PERS-CON-702A (Rev. 8\02)