HomeMy WebLinkAbout1975-11-26 - Resolution No. 75-20CERTIFICATION OF FINAL
ACTION OF GOVERNING BODY
DATE: N IVe hPr 26. 1 915
Board of Administration
Public Employees' Retirement System
P. 0, Box 1953
Sacramento, California 95309
1 hereby certify:
That the Rnar(l cif T)i rpoto-rG
of the Yorha T,i nOa
(`nunty WaS_Qr D_i -,trios adopted on __.NovPm11Qr 26 t75, by an affirmative
vote of a majority of the members of said governing body, RESOL TTON
No. 75-20 approving the attached C"Qz tra,rt
between the governing body of said Agency and the Board of Administration of the
Public Employees' Retirement System, a certified copy of said Cnn t ra et
in the form furnished by said Board of Administration being attached hereto.
'max Secretary
1.
Name of Agency
Yorba Linda County Water District
PERS-ACT-S (1/74)
•
kIESOLUTiON 75-20
RESOLUTION AUTHORIZING A CONTRACT PROVIDII,'G FOR THE PARTICIPATION OF
THE PUBLIC AGENCY IN THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM,
MAKING ITS EMPLOYEES ME•iBERS OF SAID SYSTEM
1,AiEREAS, the Public Employees' Retirement Law provides for the participation of
Public Agency in the Public Employees' Retirement System, making its
employees members of said system, and
WHEREAS, the BOARD OF DIRECTORS of
(?lame of Governing Body)
YORBA LINDA COUNTY DISTRICT
(Name of Public Agency)
on October 9 , 19 Z5, adopted a Resolution giving notice of intention
to approve a contract providing for such participation, and
WHEREAS, the employees of said Agency, whose memberships in said Retirement System
are contemplated, have approved said participation, by majority vote,
NOW, THEREFORE, BE IT RESOLVED, that said Board of Tl; r+an+,,,,~
(Name of Coverning Body)
authorizes, and it does hereby authorize a contract between said
Yorba Linda County Water Distr3c~tid the Board of Administration,
(Name of Governing Body)
Public Employees' Retirement System, a copy of said contract being
attached hereto marked Exhibit "A" and by such reference made a part here-
of as though herein set out in full, and
BE IT FURTHER RESOLVED, that the presiding officer of said R0 arr3 ~f r;,,,,~+f,s
(Name of
_ _ be, and he is hereby authorized, empowered
Governing Body)
and directed to execute said contract for and on behalf of Yorba
(Name of
Linda ronnt7 Wa+~ t.-9i ct.
Public Agency "
Adopted this 26th
Attest:
Jean /E. Mathews, Secretary
day of November , 197.q.
Presiding Officer
Fred G. Clodt, President
PERS-ACT-13 (Contract) 11/71
E ,
CONTRACT
BETWEEN THE
BOARD OF ADMINISTRATION
PUBLIC EMPLOYEES' RETIREE'%LN'P SYSTEM
AND THE
BOARD OF DIRECTORS
OF THE
YORBA LINDA COUNTY WATER DISTRICT
In consideration of the covenants and agreement hereafter contained and on
the part of both parties to be kept and performed, the BOARD OF DIRECTORS of the
YORBA LINDA COUNTY WATER DISTRICT, hereinafter referred to as "Public Agency"
and the Board of Administration, Public Employees' Retirement System, hereinafter
referred to as "Board", hereby agree as follows:
1. All words and terms used herein which are defined in the Public Employees'
Retirement Law shall have the meaning as defined therein unless other-
wise specifically provided. "Normal retirement age" shall mean age 60
for miscellanecus members.
2. Public Agency shall participate in the Public Employees' Retirement
System from and after December 21 , 1975 , making its em-
ployees 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 such as by
express provisions thereof apply only on the election of contracting
agencies.
3. Employees of Public Agency in the following classes shall become mem-
bers 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
miscellaneous members).
The following employees shall be excluded from membership in said
Retirement System:
NO ADDITIONAL EXCLUSIONS
4. Assets heretofore accumulated with respect to miscellaneous members in
the local system shall be transferred to the Public Employees' Retirement
System on the effective date of this contract and applied against the
liability for prior service incurred hereunder. That portion of the
assets so transferred which represents the accumulated contributions
(plus interest thereon) required of the employees under said local sys-
tem will be credited to the individual membership account of each such
employee under the Public Employees' Retirement System.
EXHIBIT "A" Ret. Form 126-1
5. The fraction of final compensation to be provided for each year of
credited prior and current service as a miscellaneous member shall
be that provided in Section 21251.13 of said Retirement-Law subject
to the reduction provided therein for members covered under..Federal
Social Security provided, however, that said reduced fraction,Aall
apply with respect to all service of such member whether or not the
service is included in Social Security.
6. No credit shall be granted for service prior to January 1, 1960 (date
district was organized).
7. The following additional provisions of the Public Employees' Retirement
Law which apply only upon election of a contracting agency shall apply
to the Public Agency and its employees:
a. Section 21361.5 providing that years of service rendered as a mem-
ber of the Local Retirement System prior to the effective date of
this contract shall be included in the computation of the basic
death benefit provided in Section 21361 upon the death of any mem-
ber who was also a member of said Local System shall apply.
b. Section 20862.8 (providing service credit at retirement for unused
sick leave).
8. Public Agency, in accordance with Section 20740, Government Code shall
not be considered an "employer" for purposes of Chapter 6 of the Public
Employees' Retirement Law. Contributions of the Public Agency shall
be fixed as provided in Section 20759, Government Code, and contribu-
tions hereafter made shall be held by the Board as provided in Section
20759, Government Code.
9. Public Agency shall contribute to said Retirement System as follows:
a. With respect to miscellaneous members, the Public Agency shall
contribute the following percentages of monthly salaries earned
as miscellaneous members of said System:
(1) 3.35 percent until June 30, 2005 on account of liability
for prior service benefits less .99 percent of total sal-
aries paid to members for each $100,000 of assets transferred
to the Public Employees' Retirement System to the extent such
transferred assets exceed the accumulated Local System con-
tributions of members transferred under Paragraph 4. '
(2) 8.51 percent on account of the liability for current service
benefits.
b. A reasonable amount per annum, as fixed by Board to cover the costs
of administering said System as it affects the employees of Public
Agency, not including the costs of special valuations or the periodi-
cal investigation and valuation required by law.
Ret. Form 126-2
c. A reasonable amount as fixed by the Board, payable in one install-
ment as the occasions arise, to cover costs of special valuations
on account of employees of Public Agency, and costs of the periodi-
cal investigation and valuation required by law.
10. Contributions required of Public Agency and its employees shall be
subject to adjustment by Board on account of amendmendments to the
Public Employees' Retirement liw, and on account of the experience
under the Retirement System as determined by the periodical investi-
gation 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 thirty days
after the end of the period to which said contributions refer or as
may be prescribed by Board regulations. If mare or less than the
correct amount of contributions is paid for a--iy period, proper ad-
justment shall be made in connection with subsequent remittances, or
adjustments on account of errors in contributi-ons required of any
employee may be made by direct cash payments between the employee and
Board. Payfnents by Public Agency to Board may be made in the form of
warrants, bank checks, bank drafts, certified checks, money orders,
or cash.
Witness our hands this
BOARD OF ADIdINISTRATION
PUBLIC EMPLOYEES' RETIRE I ENT SYSTEM
BY
Carl J. Blechinger, Executive Officer
day of
BOARD OF DIRECTORS
OF THE
YORBA LINDA COUNTY WATER DISTRICT
ti.
BY
Presiding fficer
Attest:
Clerk
Approved as to Form:
Lloyd C. Graybill, Administrative Adviser
Ret. Form 126-3