Reso 1121-07/2000RESOLUTION NO. 1121
RESOLUTION OF THE BOARD OF DIRECTORS OF THE
VALLECITOS WATER DISTRICT TO APPROVE AN
AMENDMENT TO THE CONTRACT BETWEEN THE BOARD OF
ADMINISTRATION OF THE CALIFORNIA PUBLIC EMPLOYEES'
RETIREMENT SYSTEM AND THE 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 Section 21548 (Pre -Retirement Optional Settlement
2 Death Benefit) for local miscellaneous members.
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 said
public agency and the Board of Administration of the Public Employees' Retirement System,
a copy of said amendment being attached hereto as Exhibit "A" and by this reference made
a part hereof.
PASSED AND ADOPTED by the Board of Directors of the Vallecitos Water District
at a regular meeting held on this 199h day of July, 2000 by the following roll call vote:
AYES:
NOES:
ABSTAIN:
ABSENT:
ATTEST:
LaU
Davy, Ferguson, Hannan, Cruz
Mason
William W. Rucker, Secretary
Board of Directors
Vallecitos Water District
mond Cruz, Presit
Board of Directors
Vallecitos Water District
Resolution No. 1121
EXHIBIT "A"
EXHIBIT
California
Public Employees' Retirement System
AMEi .el DME
�® CON RAC
Between the
oard of Administration
California Public Employees' Retirement System
and the
Board of Directors
Valllecitos Water District
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
January 5, 1968, and witnessed December 4, 1967, and as amended effective October
20, 1982, November 20, 1990 and June 30, 1993 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 30, 1993, 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 January 5, 1968 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.
Resolution No. 1121 EXHIBIT "A"
Page 3
PLEASE DO NOT SIGN "EXHIBIT ONLY"'
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 shall
be determined in accordance with Section 21354 of said Retirement Law
subject to the reduction provided therein for Federal Social Security (2% at
age 55 Modified and Full).
6. Public Agency elected and elects to be subject to the following optional
provisions:
a. Section 20042 (One -Year Final Compensation).
b. Section 20965 (Credit for Unused Sick Leave).
c. Section 21024 (Military Service Credit as Public Service), Statutes
of 1976.
d. Section 21548 (Pre -Retirement Optional Settlement 2 Death
Benefit).
7. Public Agency, in accordance with Government Code Section 20790,
ceased to be an "employer" for purposes of Section 20834 effective on
October 20, 1982. Accumulated contributions of Public Agency shall be
fixed and determined as provided in Government Code Section 20834,
and accumulated contributions thereafter shall be held by the Board as
provided in Government Code Section 20834.
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:
Resolution No. 1121 EXHIBIT "A"
Page 4
a. 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.
b. 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 Tess 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 effe ve on the day of
BOARD OF ADMINISTRATION„'a
PUBLIC EMPLOYEES' RETIRIENT SYSTEM
BY
KENNETH W. MARZIV, CHIEF PRESIDING OFFIC,R
ACTUARIAL & EM DYER SERVICES DIVISION t
PUBLIC EMPLES' RETIREMENT SYSTEM 4
AMENDMENT
PERS-CON-702A (Rev. 8\96)
r. r
BOARD OF DIRECTORS
VALLECITOS WATER DIST3tICT
BY
Witness
AttestQti
Clerk