Reso 0943-05/1993 RESOLUTION N0. 943
RESOLUTION OF INTENTION
TO APPROVE AN AMENDMENT TO CONTRACT
BETWEEN THE
BOARD OF ADMINISTRATION
OF THE
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
BOARD OF DIRECTORS
OF THE
VALLECITOS WATER DISTRICT
WHEREAS, the Public Employees' Retirement Law permits the participation of public agencies and their
employees in the Public Employees' Retirement System by the execution of a contract, and
sets forth the procedure by which said public agencies may elect to subject themselves and
their employees to amendments to said Law; and
WHEREAS, one of the steps in the procedures to amend this contract is the adoption by the governing
body of the public agency of a resolution giving notice of its intention to approve an
amendment to said contract, which resolution shall contain a summary of the change
proposed in said contract; and
WHEREAS, the following is a statement of the proposed change:
To provide 2% @ 55 Full and Modified formula (from 2% @ 60
Full and Modified formula) for local miscellaneous members,
including an extension of the funding period to the year 2011.
NOW, THEREFORE, BE IT RESOLVED that the governing body of the above agency does hereby give
notice of intention to approve an amendment to the contract between the said governing
body and the Board of Administration of the Public Employees' Retirement System, a copy
of said amendment being attached hereto, as an "Exhibit" and by this reference made a part
hereof.
BY
Pres i dent
~TITLE)
May 19, 1993
(Date adopted and approved)
C0302 (AMENDMENT) (Rev. 2/93)