HomeMy WebLinkAbout2010-02-11 - Resolution No. 10-01
' RESOLUTION NO. 10-01
RESOLUTION OF THE BOARD OF DIRECTORS
ESTABLISHING A DEEMED RETIREMENT SYSTEM
PURSUANT TO SECTION 218(d)(6) OF THE
FEDERAL SOCIAL SECURITY ACT
WHEREAS, the Yorba Linda Water District, hereinafter designated as "Public Agency",
desires to establish a "deemed" retirement system pursuant to Section
218(d)(6) of the Federal Social Security Act composed of positions of
members of the California Public Employees' Retirement System
(CalPERS) hereinafter designated "Present Retirement System", desiring
"Medicare-Only" coverage, and to include services performed by
individuals employed by the Public Agency in positions covered by said
"deemed" retirement system, as members of a coverage group
established by Section 218(d)(4) of said Act, in the California State Social
Security Agreement of March 9, 1951, providing for the coverage of public
employees under the insurance system established by said Act as
amended; and
WHEREAS, State and Federal law and regulations require, as a condition of such
coverage, that a division be authorized by the Board of Administration,
California Public Employees' Retirement System; and
WHEREAS, it is necessary that the Public Agency now designate any services which it
desires to exclude from coverage with respect to such coverage group
under said insurance system; and
WHEREAS, it is necessary for the Public Agency to set forth the modification, if any, of
the benefits and contributions under the Present Retirement System that
may result from coverage under the said insurance system with respect to
such coverage group;
NOW THEREFORE BE IT RESOLVED that the Board of Administration, California
Public Employees' Retirement System, be and hereby is requested to authorize the
foregoing division; and
BE IT FURTHER RESOLVED that upon receipt of authorization from the Board of
Administration a division shall be conducted in accordance with the requirements of
Section 218(d) of the Social Security Act, and applicable State and Federal laws and
regulations; that each eligible member of the Present Retirement System at the time of
the division shall be furnished a form to permit the member to elect whether or not his
services should be excluded from or included under the said California State Social
' Security Agreement as hereinbefore provided; with such "Medicare-Only" coverage
effective as to services performed on and after January 1, 2010; and
Resolution No. 10-01 Establishing a Deemed Retirement System
' BE IT FURTHER RESOLVED that the following services with respect to said coverage
group of the Public Agency shall be excluded from coverage under said agreement:
1 All services excluded from coverage under the agreement by Section 218 of
the Social Security Act; and
2. Services excluded by option of the Public Agency-
X a. No optional exclusions desired.
b. Service Performed:
BE IT FURTHER RESOLVED that with respect to the said coverage group the benefits
and contributions of the Present Retirement System shall not be modified in any way;
and
BE IT FURTHER RESOLVED that notice of the division shall be given to members of
the Present System not less than ninety days prior to the date of the division; provided
however, that notice shall be given to employees becoming members of the Present
Retirement System after the date of such notice up to and including the date of the
division on the date on which they attain membership in the system, and that Gina
Knight, Human Resources Director, is hereby designated and appointed to conduct
' such division on behalf of the Public Agency in accordance with law, regulations, and
this resolution, including the fixing of the date and the giving of proper notice thereof to
members of the Present Retirement System and to all such eligible employees; and
BE IT FURTHER RESOLVED that the Public Agency will pay and reimburse the State
at such time and in such amounts as may be determined by the State the approximate
cost of any and all work and services relating to such division.
PASSED AND ADOPTED this 11th day of February 2010, by the following called vote:
AYES: Directors Beverage, Collett, Mills and Summerfield
NOES: None
ABSTAIN: None
ABSENT None
William R. Mills, Pre 'dent
Yorba Linda Water District
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Resolution No. 10.01 Establishing a Deemed Retirement System 2
' ATTEST
Ken Vecchiarelli, Secretary
Yorba Linda Water District
Reviewed as to form by General Counsel:
Arthur G. Kidman, sq.
McCormick, Kidman & Behrens
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Resolution No. 10-01 Establishing a Deemed Retirement System 3