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HomeMy WebLinkAboutCalifornia Public Employees Retirement System - CalPERS - PERS - 1949-11-07 //�"�"" �w' + • �(/X� __" �_� � �9�s-- 9��. �� �� r i 97 r 7q 1 -7 ( 91 i f AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE CITY COUNCIL OF THE CITY OF HUNTINGTON BEACH The Board of AdminLstration, Public Employees' Retirement System, hereinafter referred to as Board, and the governing body of above public agency, herein- after referred to as Public Agency, having entered into a contract effective October 1, 1945, and witnessed October 27, 1945, and as amended effective January 1, 1950, March 1, 1952, November 1, 1957, March 1, 1958, October 1, 1961, January 1, 1971, January 12, 1974, April 18, 1975, February 21, 1976, August 7, 1976, September 17, 1977, September 30, 1978, June 6, 1981, March 18, 1982, February 24, 1983 and December 4, 1986, 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 December 4, 1986, 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 60 for local miscellaneous members and age 50 for local safety members. 2. Public Agency shall participate in the Public Employees' Retirement System from and after October 1, 1945 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 ager_cy 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 contract- ing 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. Local Fire Fighters (herein referred to as local safety members); b. Local Police Officers (herein referred to as local safety members); 1. Local Police Officers shall include individuals defined by Section 20020 of the Government Code prior to its amendment at the 1975-76 Regular Legislative Session, effective January 1, 1976, employed by Public Agency prior to such amendment; C. Lifeguards (included as local safety members); d. 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. CROSSING GUARDS, EMPLOYEES IN STUDENT DESIGNATED POSITIONS AND SENIOR OUTREACH ASSISTANTS HIRED ON AND AFTER MARCH 18, 1982; AND b. RESERVE FIRE FIGHTERS HIRED ON AND AFTER DECEMBER 4, 1986. 5. The fraction 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 21251.13 of said Retirement Law (21 at age 60 Full) . 6. The fraction of final compensation to be provided for each year of credited prior and current service as a local safety member shall be determined in accordance with Section 21252.01 of said Retirement Law (2% at age 50 Full). 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. Sections 21380 - 21387 (1959 Survivor Benefits) excluding Section 21382.2 (Increased 1959 Survivor Benefits) and Section 21382.4 (Third Level of 1959 Survivor Benefits). b. Section 20019.3 ("Local Safety Member" shall include city lifeguards as described in Government Code Section 20019.3). e . C. Sections 21263, 21263.1 and 21263.3 (Post-Retirement Survivor Allowance) for local fire members only. d. Section 20020 ("Local Police Officer" shall include persons assigned to identification and communication duties in the Police Department who were not classified as local safety members and who were in such employment on or prior to August 4, 1972, and who elected to be local safety members prior to April 18, 1975). e. Section 20930.3 (Military Service Credit), as defined in Chapter 1437, Statutes of 1974. f. Section 20024.2 (One-Year Final Compensation). g. Section 20818 (Two-Years Additional Service Credit), as defined in Chapter 327, Statutes of 1982. h. Section 20938 (Cancellation of Payment for optional Service Credit Upon Retirement for Industrial Disability for Retired or Retiring Members), as defined in Chapter 885, Statutes of 1983 for local safety members only. 8. Public Agency, in accordance with Government Code Section 20740, ceased to be an "employer" for purposes of Section 20759 effective on April 18, 1975. Accumulated contributions of Public Agency shall be fixed and determined as provided in Government Code Section 20759, and accumulated contributions thereafter shall be held by the Board as provided in Government Code Section 20759. 9. Public Agency shall contribute to said Retirement System as follows: a. With respect to local miscellaneous members, the agency shall contribute the following percentages of salaries earned as members of said Retirement System: (1) 0.221 percent until June 30, 2000 on account of the liability for prior service benefits. (Subject to annual change.) (2) 7.280 percent until June 30, 2011 on account of the liability for current service benefits. (Subject to annual change.) b. With respect to local safety members, the agency shall contribute the following percentages of salaries earned as members of said Retirement System: (1) 0.051 percent until June 30, 2000 on account of the liability for prior service benefits. (Subject to annual change.) (2) 19.342 percent until June 30, 2011 on account of the liability for current service benefits. (Subject to annual change.) • C. A reasonable amount, as fixed by the Board, payable in one in- stallment 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. d. A reasonable amount, as fixed by the Board, payable in one in- stallment 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 determine) 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 thirty 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. Q B. This amendme t shall be effectiv n the /UL day of 19 BOARD OF ADMINISTRATION CITY COUNCIL PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF THE CITY OF ING N B CH • BY �,_ C. BY SANDRA C. LUND res ding Officer ASSISTANT EXECUTIVE OFFICER BENEFITS SERVICES witness Date Attests Clerk PERS-CON-702 (AMENDMENT) (Rev. 9/86) dI REQUE6-e FOR CITY COUNC -_'ACTION + Date December 29, 1987 Submitted ta• Honorable Mayor and City Council APPROVED BY CITY COUNCIL Submitted by: Paul Cook, City Administratcr l Prepared by: Robert Franz, Chief of Administrative Servic s czTy r.aX Sub,ect: ADOPTION OF RESOLUTION WHICH ALLOWS EARLY RETIREMENT INCENTIVE FOR CERTAIN EMPLOYEES �po ��� s 7 Consistent with Council Policy? FI Yes ] New Policy or Exception Statement of Issue, Recommendation,Analysis, Funding Source,Alternative Actions,Attachments: Vj Statement of Issue: The city wishes to provide an incentive for early retirement for miscellaneous employees who retire from designated classifications during the time period of January 10, 1988, through June 9, 1988 (180 days). Recommendation: Adopt attached resolution which will provide benefits under Section 20819 (Two Years' Service Credit) of the Public Employees' Retirement Law. Analysis: In 1983, the city of Huntington Beach amended its contract with the Public Employees' Retire- ment System to provide an option of two years' additional service credit as an early retirement incentive for miscellaneous employees in designated classifications. This benefit would allow the city to phase out certain positions rather than resorting to layoffs because of reorganization economics. This resolution will continue to allow implementation of the reorganization plans during Fiscal Year 1987/88. Funding: General Fund. The average cost per retiring employee is approximately $13,000. 'There are two eligible employees at this time. Alternative Action: Provide no retirement incentive through the Public Employees' Retirement System. RJ F/PEC:pf Attachment 1 PIQ 5/85 REQUE� FOR CITY COUNCIL ACTION Date December 16, 1987 Submitted to: Honorable Mayor and City Council Members / Submitted by: Paul E. Cook, City Administrator �. Prepared by: Robert J. Franz, Chief of Administrative Services ORDINANCE TO AMEND PERS CONTRACT TO PROVIDE S C ON 20 38 Subject: � p Consistent with Council Policy? [ l Yes [X] New Policy or Exception On � W.�93 D Statement of issue, Recommendation,Analysis, Funding Source,Alternative Actions,Attachments: Statement of Issue: Pursuant to Government Code S20460, the 20 day waiting period requirement has been met since the adoption by the City Council of the Resolution of Intention which would allow an amendment of the PERS Contract to provide Section 20938 (Permits the Cancellation of Payment for Optional Service Credit Upon Retirement for Industrial Disability for Retired and Retiring Members) for local safety members. The City wishes to submit for the final reading and City Council's approval the attached ordinance. Recommendation: Adopt the attached Ordinance which will provide benefits under Section 20938 of he Public Employees Retirement Law. Analysis: The City's current contract with PERS allows for members to purchase optional service credit (previous service or military service) over a five year period. If a member is retired for industrial disability, they must continue to make payments for optional service credit without the benefit of any additional service being credited. This amendment will allow such employees the option of discontinuing these payments when they are retired for Industrial disability purposes. Funding- No cost to the City. Alternntive Action: Do not adopt the ordinance which would allow for the amendment of the PERS contract to provide for this option. Attachments: 1. Ordinance 2. Exhibit A- Copy of PERS Contract 3541j Plo G/85 ' \ i ' REQ C E ITY, UNCE ACTION 91hr 9Data December 4, 1987 Submitted to: IIono , ayor and iliembers Submitted by Paul E. Cook, City Administrator Prepared by: Robert J. Franz, Chief of Administrative Services V11-4---6 Subject: RESOLUTION TO AMEND PERS CONTRACT TO PROVIDE ECT10N 209 Consistent with Council Policy? ( ] Yes [XI New Policy or Exception S93 Statement of Issue, Recommendation,Analysis, Fundinh Source,Alternative Actions,Attachments: Statement of Issue: The City wishes to permit local safety members the ability to cancel payments for optional service credit upon retirement for industrial disability for retired and retiring members of PERS. Recommendation: Adopt the attached Resolution of Intention which will provide benefits under Section 20938 of the Public Employees Retirement Law. Analysis: The City's current contract with PERS allows for members to purchase optional service credit (previous service or military service) over a five year period. If a member is retired for industrial disability, they must continue to make payments for optional service credit without the benefit of any additional service being credited. This amendment will allow such employees the option of discontinuing these payments when they are retired for Industrial disability purposes. Funding: No cost to the City. Alternative Action: Do not amend the PERS contract to allow for this option. Attachments: 1. Resolution of Intention 2. Certification of Governing Body's Action 3. Certification of Compliance with Government Code 57507 4. Exhibit A - Copy of PERS Contract 3541j No 6/85 J T ArZND?TXT TO CONTL%CT EETWEEi THE BQARD OF ADICHISTRATION OF THE PUELIC EMPLOYEES' RETIREMST SYSTEM AND THE CI TY ODU NCI L OF TIC CITY OF WNTINCTON EEAICH The Board of Adniniatration, Public Employees' Retirement Syaten, hereinafter referred to as Board, end the governing body of above public agen:y, herein- after referred to as Public Agency. having entered into a contract effective October 1, 1945, and witnessed October 27, 1945, and as amended effective Jeunary 1 , 1950, March 1 , 1952, November 1, 1957. March 1 , 1958, October 1 , 1961, January 1, 1971. January 12, 1974, April 19, 1975, February 21 , 1976, August 7, 1976. September 17, 1977, September 30, 1978, June 6, 1931 , March 18. 1982 and February 24. 1983, which provides for participation of Public Agency In said System, Board end Public Agency hereby agree as follows: A. Paragraphs 1 through 10 are hereby stricken from said contract as executed effective February 24, 1933, and hereby replaced by the following paragraphs numbered 1 through 11 inalunive: 1. All words Ltd terms used herein which are defined in the Public Employees' Retirement Lest shall have the meaning as defined therein unless otherwise specifically provided. "Normal retirement age" shall t3can aga '60 for loc31 miscellaneous members and eg* 50 for local safety members. 2. Public Agency shall participate in the Public Employees' Retirement System from and after October 1. 1945 making its employees as hereinafter provided, members of said System subjeat to all provisions of the public Employees• Retirement Law except sur-% as apply only on election of a contracting agency and are not provided for herein and to all amenlMents to said Lax hereafter enacted except those, which by express provisions' thereof, apply only on the election of a contrac- ting agency. 3. Employees of Public Agency in the following classes shall become members of said Retirement System except such in e9ch such class as are exclud4d by law or.this agreement: s. Local Fire Fighters (herein referred to as local safety members); b. Local Police Officers (herein referred to 83 local safety members); 1. Local Police Officers shall include individuals defined by Section 20020 of the Government Code prior to its amendment at the 1975-76 Regular Legislative Session, effective January 1, 1976, employed by Public Agency prior to such emendmint; c. Lifegunrds (included as local safety tr-mbers); d. Employees other than local safety members (herein referred to as local miscellaneous mambers). A. In addition to the classes of employees excluded from :membership by said Retirement Lau, the following classes of employees shall not becorm members of said Retirem--nt System: a. CROSSING GUARDS, El1PLOYEES IN STUDENT DESIGNATED POSITIONS AND SENIOE OUTREACH ASSISTA.NT3 HIRED ON AND AFTER HARCH 18, 1982; AND b. RESERVE FIRE FIGHTERS HIRED ON AND AFTER THE EFFECTI11E DATE OF THIS 02-:HDMENT TO COh7RACT. 5. The fraction of final compensation to be provided for each year of credited prior and current service as a local miacellLneous member shall be determined in accordance With Section 21251.13 of said Retirement Law (2% at age 60 Full). 6. The fraction of final compensation to be provided for each year of credited prior and current service as a local safety armber shall be determined in accordance with Section 21252.01 of said Retirement Law (2I at ege 50 Full). 7. The following additional provisions of the Public Employees' Retirement Lax, which apply only upon election of a contracting agency, shall apply to the Public Agency and its employees: a. Sections 21330 — 21387 (195-) Survivor Program) excluding Section 21382.2 (Increased 1959 Survivor Benefits) and Section 21382.4 (Third Level of 1959 Survivor Benefits). b. Section 20019.3 ("Local Safety Member" shall include city lifeguards as described in Government Code Section 20019.3). c. Sections 21263, 21263.1 and 21263.3 (Post—Retirem--nt Survivor Allowance) for local fire n:mbers only. it r d. Section 20020 ("Local Police Officer" shall include persons essigned to identification and communication duties in the Police Department who were not classified as local safety we-tubers end who were in suah employment on or prior to August 4, 1972, and who elected to be local safety members prior to April 18, 1975). e. Section 20930.3 (Military Service Credit), as defined in Chapter 1437, Statutes of 1974. f. Section 20024.2 (One-Year Final Compensation). g. Section 20318 (Two-Years Additional Service Credit), as defined In Chapter 327, Statutes of 1982. 8. Public Agency, in accordance with Government Code Section 20740, ceased to be an "Employer" for purposes of Section 20759 effective on April 18, 1975. Accumilated contributions of Public Agency shall be fixed and determined as provided in Government Code Section 20759, and accumulated contributions thereafter shall be hsld by the Board as provided in Government Code Section 20759. 9. Public Agency shall contribute to said Retirement System as folloWs: a. With respect to local miscellaneous w tubes, the agency shall contribute the following percentages of salaries earned as members of said Retirement System: (1) 0.255 percent until June 30, 2000 on account of the liability for prior service benefits. (Subject to annual change.) (2) 8.759 percent until June 30, 2011 on account of the liability for current service benefits. (Subject to annual change.) b. With respect to local safety n-Qbers, the agency shall contribute the following percentages of salaries earned as members of said Retirement System: ( 1) 0.070 percent until June 30, 2000 on account of the liability for prior service benefits. (Subject to annual change.) (2) 20.871 percent until J•.i a 300 2011 on account of the liability for current service benefits. (Subject to annual change.) c. A reasonable amount, as fixed by the Board, payable in one in- . tallment within 50 days of date of contract to cover the costs of administering said System as it affects the employees of Public hpncy, not including the costs of Special valuations or of the periodic investigation and valuations required by law. d. A reasonable arount, es fused by the Board, payable in one in- stallment es the occasions wise, to cover the costs of special valuations on account of eaployeea of Public Agency, end coats of the periodic investigation and valuations required by law. 10. Contribution required of Public Agency end its employees shall be &abject to adjustment by Board on account of anendmsnts to the Public Employees' Retirement Lair, 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 emRloyeea &hall be paid by Put-lie 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 regulation. If more or less than the correct amcunt of contributions is paid for any period, proper adjustment shall br mode in connection. with subsequent remittances. Adjustments on account of errors in contributions required of eny employee may be m3de by direct payernta between the employee and the Board. B. TI s vm--ndmn a'iall be effecti on the �_ .. � day of - ,-e�nZn-L am- ..�.+ 19c9' • 0/1 BOARD OF ADHQN25?R!l?ION T CISY COUNCIL PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF THE CITY OF BU TINGTON BEICH BY By4t"l-P, KRIXETH G. THOMASON Presiding Officer ACTING EXECUTIVE CF'FTCER Witness Date Approved as to form; Attest•. Legal Office, Date Clerk Date = - PERS-CON-702 (AKEPOMENT) (Rev. 9185) : .. . . - i REQUES,.)FOR CITY COUNCIL-:ACTION wJ � ` ,ppROVED BY CITY COUNCIL ate kber 20, 1986 Submitted to: Mayor and City Coun i 1 Cl Submitted by: Charles W. Thompson, Cit Prepared by: Robert J. Franz, Deputy City Administrator/Chief of Administ 4ive Services Subject: Amendment to the City's contract with PERS to exempt our Reserve Firefighters Consistent with Council Policy? [ A Yes [ ].New Policy or Exception Of> 02y7old Statement of Issue, Recommendation,Analysis, Funding Source,Alternative Actions,Attachments: Statement of Issue: The work schedule, duties and role of our Reserve Firefighters qualify them for exemption from the hour limitation currently imposed by our contract with the Public Employees Retirement System. We, therefore, wish to amend our contract so that it is consistent with our employment practices. Recommendation: Modify our PERS contract by adopting the ordinance y Analysis: The nature of the work performed by the Reserve Firefighters can be characterized as follows: a) They work on a voluntary basis and therefore work a limited number of hours on an irregular basis. b) People in this program are not transitioned into permanent positions in the fire service. c) They do not replace regular firefighters. d) They do not work long enough to become vested. Based on this characterization, we felt that the Reserve Firefighter class should be exempted. To confirm our conclusion, we contacted the PERS contract division for their opinion. After reviewing our documentation, they stated that they agreed with our conclusion and would present It to their board. We subsequently were informed that their board had approved the revision and it was approved by our governing body. The first reading and passage of the resolution to adopt this ordinance took place at the October 6, 1986 meeting. This second reading, and adoption of this ordinance will complete the process and bring our personnel practices and PERS contract into agreement. Funding Source: None required Alternative Action: Not approve this ordinance and perpetuate the inconsistency between our contract and our employment practice. Attachments: V No 5185 Public Employees' Reticent System `�c�� ���~ � Field & Contract Services Division . :PEIRS Contracts Office, Section 900 Post Office Box 90109 Sacramento, CA 95809-0109 Telephone (916) 445-6570 445-4900 (Telecommunicaticns Device for the Deaf) CERTIFICATION OF GOVERNING BODY'S ACTION I hereby certify that the foregoing is a true and correct copy of a Resolution adopted by the _HuntiM t_o_n Beach City Council _ __ (Governing Body) of the _ City of Huntington Beach (Nave of Public Agency) on , October 6. 1996 appearing at Page as yet un-numbered (Date) Volumne of the (Minutes) (Official Records) of the _ _ City of Huntington Beach (Governing Body) • • _ I " CITY CLERK - C S00 0(Rev. 1/8b) i REQUE6� FOR CITY COUNCIL ACTION • Gty y Date 9/17/86 ti Submitted to: MAYOR & CITY COUNCIL to ��}} Submitted by: C. W. THOMPSON, CITY ADMINISTRATOR I'l'�� �� �� tit• Gti Prepared by: ROBERT J. FRANZ, DEPTY ADMIN/CHIEF ADMIN SV Subject: Amendment to the city;s contract with the Public o s; Retirement System exempting Reserve Firefighters Consistent with Council Policy? [ A Yes [ ] New Policy or Exception Statement of Issue, Recommendation,Analysis, Funding Source,Alternative Actions,Attachments: Statement of Issue: The work schedule, duties and role of our Reserve Firefighters qualify them for exemption from the hour limitation currently imposed by our contract with the Public Employees' Retirement System.. We therefore wish to amend our con- tract so that it is consistent with our employment practicies. Pecommendation: Approve the resolution of intent and subsequent ordinance to amend the PERS contract. _Analysis: The nature of the work performed by the Reserve Firefighters can be characterized as follows: a) They work on a voluntary basis and therefore work a limited number of hours on an irregular basis. b) People in this program are not transitioned into permanent positions in the fire service. c) They do not replace regular firefighters. d) They do not work long enough to become vested. Eased on this characterization, we felt that the Reserve Firefighter class should Le exempted. To confirm our conclusion, we contacted -the PERS contract division for their opinion. After reviewing our documentation, they stated that they agreed with our conclusion and would present it to their board for consideration. We subsequently were informed that their board had approved the revision and if it was approved by our governing body, the exemption would become effective after a waiting period. Their waiting period requirement is met by having the passage of the ordinance follow 30 days after this initial reading. Funding Source: None required. Alternative Action: Perpetuate the inconsistency between our contract and our employment practice. Attachments: Yes j3r Plo 5A15 REQUEST FOR CITY COUNCIL ACTION IQ 5 Date 3 Vr CITY COUNCIL Submitted to: Honorable Mayor and City Council Members r I p Submitted by: Charles W. Thompson, City Administrator Prepared by: Robert Franz, Chief of Administrative Servic 'Y cLr.XY� Subject: Authorization for a City Official to submit Disability Retirement Applications to the Public Employees' Retirement System S2 Q Statement of Issue, Recommendation,Analysis, Funding Source,Alternative Actions, Attachments: Statement of Issue The attached resolution provides authority for the Insurance and Benefits Manager to submit applications for disability retirement on behalf of city employees. Recommendation Adopt the attached resolution Analysis Employer originated disability applications would be forwarded when, on the basis of competent medical opinion, the employee is permanently disabled from performing the duties of their occupation. Presently we are required to wait for the employee to sign and forward the application to PERS. In some instances it is to the employee's benefit and the City's detriment to prolong signing the application. Funding Source Hone required Alternative Action Leave as is with the resultant delays in submission of disability retirement appli- cations. Attachments Resolution to accomplish the recommendation above. CWT:RF:jb .l 410 4181 REQU6q FOR CITY COUNCIL ACTION Date June 7, 1983 ^� Submitted to: Honorable Mayor and City Council Submitted by: Charles W. Thompson, City Administer r �3Prepared by: Robert J. Franz, Chief of Administrative Service Subject: Reduction of Employee Retirement Benefit Costs &e.15, 0. .9751 Statement of Issue, Recommendation,Analysis, Funding Source,Alternative Actions,Attachments: STATEMENT OF ISSUE: The Public Employees' Retirement System (PERS) has provided the City with-the opportunity to extend the current service funding period for miscella- neous and safety employees and thus reduce our annual cost for retirement benefits. We can accomplish this by your adopting the attached resolution. RECOMMENDATION: Approve the attached resolution requesting PERS to extend the current funding period. ANALYSIS: At the March 17, 1982 PERS Board of Administration adopted a resolution to permit agencies to extend their current service funding period from the year 2000 to a maximum of the year 2011 . This extension of the funding period will not reduce the employer liabilities but will simply spread the contribution over a longer period. It should be added that this extension will not affect the benefits received by present or future retirees. To be eligible for this extension, of the current service funding period, PERS is requesting that we pass a resolution stating that there is a need for us to reduce our expenditures. PERS conducts periodic actuarial studies to determine appropriate charges to employers such as the City of Huntington Beach for the retirement benefits of employees. This process results in periodic fluctuation (mostly increases) of the employer cost for retirement. One portion of the employer cost is the cost for the "unfunded actuarial liability." This portion of the retirement cost Is amortized over a speci- fied number of years. Many years ago PERS established the amortization period -as the number of years between the date of the actuarial ; study and the year 2000. in other words, actuarial studies dated 1970 would amortize the "unfunded actuarial liability" over the 30 years from 1970 to the year 2000. For some reason PERS has never changed the ending date (the year 2000) of the amortization period. Therefore, the amortization period has gradually shortened over the past years. This results in higher retirement costs for the City. PERS is now correcting that problem by allowing employers to extend the funding-period to 2011 . The Immediate impact on the City will be a decrease in the annual cost for retirement benefits by an amount In excess of $400,000 per year. FUNDING SOURCE: None required. ALTERNATIVE ACTIONS: To maintain the rate of contributions at their current levels. ATTACHMENTS: Resolution to initiate the change. ♦1 PIQ 4/81 REQUES�=OR CITY COUNCIL�,CTION , Date 12/16/82 uttmitted to: honorable Mayor and City Council T G�TY cCUNG1L Submitted by: Charles W. Thcr pson, City Administr r f *0 Prepared by: Frank B. Arguello, Chief of Adrunistrative •(.l't� GLk• Subject: AtEND MNTRACT WITH PUBLIC EMPLO=I RETI 1ED1 7S1'EFE`CRID ' PROVIDE SECTION 20818 (TWO YEARS ADDITIONAL EIS IT) Statement of Issue, Recommendation, Analysis, Funding Source,Alternative Actions, Attachments: 4 J STATJZM OF ISSUE: The City will provide an.incentive for early retirement by amending its PEELS contract to allow two years additional service credit. RDC)OriS+ZMATION: rbdify PERS contract by adopting attached Ordinance to provide benefits of Section 20818 of the Government Code in its PERS contract. .\ ANALYSIS: PERS Section 20818 would allow the City to deposit two years credit into the ,PERS fund to provide an incentive for early retirement for employees affected by `changes in the City's organizational structure due to fiscal conditions. These include mandatory transfers, demotions or layoffs resulting from the curtailment of or change in the manner of perform ng services. Affected employees could receive an additional two years' retirement credit under this provision. FUMING SOURCE: . General Fund. There is no immediate change in the PERS contribution rate; hati-ever, the estimated cost at time of utilization is $8,000 for each mis- cellaneous employee, $18,700 for each Fire employee and $16,900 each for all other safety employees. ALTERNATIVE ACTION: Provide no incentive through the PERS ret ant plan. ATTACEMMEWS: City Council adopted Resolution of Intent to modify PERS contract with attached ordinance December 6, 1982. Piri A'R1 �t REQUES OR CITY COUNCIL`�CTION Date ovember I, 1982 Submitted to: Honorable Mayor and City Council A�0 Submitted by: Charles W. Thompson, City Administr o ���. °lT Prepared by: Frank B. Arguello, Chief of Administrative Services �. 0 Subject: AMEND CONTRACT WITH PUBLIC EMPLOYEES' RETIRE PROVIDc SECTION 20818 (TWO YEARS ADDITIONAL SERVIC C IT) rl Statement of Issue, Recommendation,Analysis, Funding Source,Alternative Actions,Attach STATEMENT OF ISSUE: The City will provide an incentive for early retirement by amending its PERS contract to allow two years additional service credit. RECOMMENDATION: City Council adopt a Resolution of Intent and subsequent ordinances to provide benefits of Seztion 20818 of the Government Code in its PERS contract. ANALYSIS: erection 20818 would allow the City to deposit two years credit into the PERS fund to provide an incentive for early retirement for employees affected by changes in the City's organizational structure due to final conditions. These include mandatory transfers, demotions or layoffs resulting from the curtailment of or change in the manner of performing services. Affected employees could receive an additional two years retirement credit under this provision. FUNDING SOURCE: Cenerai Fund. TRere is no immediate change in the PERS contribution Tate; however, the estimated cost at time of utilization is $8,000 for each miscellaneous employee, $18,700 for each fire employee and $16,900 each for all other safety employees. ALTERNATIVE ACTIONS: �rovi a no incentive through the PERS Retirement Plan. ATTACHMENTS: CV,'T:FBA:EHT:dp AI O 4181 REOUESI�FOR CITY COUNCIL-ACTION Date Submitted to: Honorable Meyor and City Council _ - PY STY covrt�t- �.t'Y1cvV�' L Submitted by: Charles W. Thompson, City Administrat Prepared by: Frank B. Arguello, Chief of Administrative Se ^ ces CITY rs Subject. AMER11M TO PERS CONTRACT EXCLUSION OF CERTAIN TEMPORARY POSITIONS OD r Statement of Issue, Recommendation,Analysis, Funding Source,Alternative Actions,Attachments: S-JZEVZW OF ISSUE: The City wishes to exclude certain temporary classifications, i.e. , Crossing Guard, student designated positions and Outreach Assistants from liability for retirement contributions if the incumbent works in excess of 1,000 halms per year. R:OMENDATION: City Council adopt Ordinance to m:)dify PERS Contract. &ZAL,YSIS: The City has petitioned the Public Employees Retirement System for exclusion of the aforementioned positions from the normal sery ice limitations which involve benefits for the incumbents. The City wishes to allow these incumbents to work more than ttz one-half time limitation, but under the present contract the City would be liable for retire mt benefits. PERS will allow exclusion of these specific classes but .will not grant a blanket exclusion because of the liability to pc!raarcnt employees with prior temporary service. City Council has adopted Resolution 5078 on January 4, 1982 to initiate the modification process. FINDING SOURCE: No cost involved. AI TERNATM AC'I`IONS: To continue the present system of limiting these positions to 20 hours per w+oek. ATTACi-D'IFNTS: Ordinance of the City of Huntington. Beach 0AT:FBk:skd ti - 1 vow. PIO 4/B1 REQ UES�C FOR CITY COUNCI CTION Date Dec ember 15, 1981 Submitted to* Honorable Mayor and City Council Submitted by: Charles W.Thompson,City Administrator Prepared by: Frank B. Arguello, Chief of Administrative Services V/)-, e5 V AMENDMENT TO PERS CONTRACT - Subject: EXCLUSION OF CERTAIN TEMPORARY POSITIONS , Statement of Issue, Recommendation,Analysis, Funding Source,Alternative Actions,Attachments: STATEMENT OF ISSUE: Tie City wishes to exclude certain temporary classifications, i.e., Crossing Guard,student designated positions and Outreach Assistants from liability for retirement contributions if the incumbent works in excess of 1,000 hours per year. RE-COMMENDATION: City Council adopt attached Resolution of Intent. ANALYSIS: The ity Fos petitioned the Public Employees Retirement System for exclusion of the aforementioned positions from the normal service limitations which involve benefits for the in:umbents. The City wishes to allow these incumbents to work more than the one-half time limitation, but under the present contract the City would be liable for retirement benefits. PERS will allow exclusion of these specific classes but will not grant a blanket exclusion because of the liability to permanent employees with prior temporary service. FUNDING SOURCE: No cost involved. ALTERNATIVE ACTIONS: o continue 1he present system of limiting these positions to 20 hours per week. ATTACHMENTS: Resolution of Intent. CWT:FBAsh E I NO AM STRT!Of CAUFORNIA—!OARED Of ACMINISTIIATION PUBLIC EMPLOYEES' RETIREMENT SYSTEM R^_�- 1416 NINTH STREET,P.O.SOX 1933 SI CRAMENTO, CALIFORNIA 95809 Tole0ana 1916) 445-7700 August 5, 1981 Ms. Alicia M. Wentworth City Clerk City of Huntington Beach 2000 Main Street Huntington Beach, CA 92648 Dear Ms. Wentworth: As you have expressed an interest in the System's investments, we will send an occasional article relative to our current strategies. As you know, we have been long-term bond investors while short-term rates are currently high, expecting all rates to decline. The impact of Erich a strategy is described in the attached August 1981 , Financial World article in the portion of the article entitled "The Deep Endue'. Sincerely, Melvin W. Petersen - - Chief of Investments r;WP:lkj Attach. cc: Members of the Board of Administration Assemblyman Louis J. Papan Senator Newton R. Russell William C. George, Committee on Finance, Insurance d Commerce Bob Bissonnette, Senate PUR County Administrator's Association of California Attn: Mr. Dick Andrews Mr. Steve Szalzy Mr. Robert Hendrix I� Jju111*sh on bonds Merrill Lynch isn't alone in predicting a rip-roaring rally the nation's largest brokerage out- He's not alone. "I'm very bullish down 300 basis points in the next 12 fit is proclaiming a new bull market in on bonds,"says H. Erich Heinemann, months. That would put 20-year bonds via full-page newspaper ads. economist at Morgan Stanley,"but it's government rates at 10%. Arnold X. "We see a new economic era," says going to be a volatile market—one for Moskowitz, economist for Dean Wit- Merrill Lynch bond analyst Daniel traders." Heinemann is optimistic, ter, sees long rates down 200 basis Kornstein, "lower inflation—a whole- because money supply growth,he says, points as early as September. sale change in attitudes."The Merrill is at last under control. Says Winslow Such talk, of course, brings to Lynch party line is that yields on 20- Marston,bond analyst for Bache:"The mind the bond rally of spring 1980— year governments will drop from 13% bond market is due for a roaring rally." the one that followed the six-month to I I%by October,and,with some ups Marston doesn't rule out a near-term collapse in Salomon Bros.' index of and downs in between,dip into single backup in rates—"because of bearish high-grade corporate bonds from 83 to digits by 1983.This May's rate run-up, psychology still hanging over the 62. In that rally, a bond buyer who says Merrill economist Donald Maude, market"—but he sees lower inflation timed both trough and peak could have .will be the peak for the decade." and a weaker economy pushing rates racked up a 35%return from March to What they bike `Bond analysts favor large,` high-quality issues for trading in the rally they see for the months ahead, particularly the huge government issues where margin requirements range as low as Ao. Out- Recent Current Yield Rating standing Price Yield to (mil $) Maturity Treasury Bonds - 8's, 1486 AAA $9,515 79 10,13% 13.82% 8's, 2001 AAA 1,575 65 12.31 12.91 10's,2010 AAA 2,987 78 12.82 12.92 103/s's, 2009 AAA 4,201 80 12.97 13.06 3 3 12 '• ZO1 4 736 1..14 13.15 s 0 AAA 97 a Corporate Bonds MM Amer.Tel.& Tel. 8s/'s, 2000 AAA 715 72 12.15 12.69 ii Exxon Corp. 6's 1997 AAA 223 55 10.91 12.52 9 Intl Bus. Mach. 93/i'.5, 2004 AAA 500 75 12.50 12.75 Michigan,Bell Tel. 153/'s;2021 AAA 250 102 15.44 15.44 N.Y.Tel. 81/a's,2015 AAA 150 63 13.10 13.19 Southwestern Bell Tel.7%s, 2013 AAA 300 56 13.62 13.76 28 FINANUTAl.WORI.D June, by1.�.fS g nothing riskier than listed on an exch.�so an investor 20-year governments.Had one bought trading them should check around to prime-quality corporates--say South- be sure he's quoted a fair price.Or he western Bell 9ys,due in 2015,orSouth might simply buy AT&T 8�/.s, due in Central Bell8+/.s,duein2004—thetotal 2000,which are listed. return would have topped 40%in just While agreeing that deep-dis- over three months. And the investor counts usually do the best when rates could have managed these returns by drop, Mem11s Kornstcin points out buying the bonds outright. that this didnit happen during the brief More intriguing—though far risk- rally this past May."Full-coupons had ier—is buying the bonds on margin. a slightly better total return than dis- While corporates usually require a 15% counts," he says. Why?"The market , ! to'30% margin (more commonly the had already bid up the price of the ! latter), government securities can be deep-discounts,"he comments."just as bought for as little as 3%to 101j"a mar- its doing now."His strategy?Go with 1 gin. With that sort of leverage, the higher-coupon bonds:Treasury 12%s, returns can be awesome. Suppose an due in2010;Michigan Bell15Y4s,ducin investor buysTreasury l0s,duein2010, 2021; New Jersey Bell 14%% due in at the current price of roughly 80;"o par. 2021,orStandard of Indiana 14s,duc in So$1 million of bonds casts$500,000, 199 i—all of them prime quality issues.but the investor might buy them by Other Wall Streeters also pick tele- putting up,say,only 6%or$48,000.If phone bonds,but insist on deeper dis- long rates dropped 200 basis points count issues such as Southwestern by September,as Moskowitz predicts, Bell's 73ss, due in 2013,or New York the investor would get his margin Telephones Sys,due in 20I5. money back and pocket an additional ' Yet in the final analysis, govern- 5200,000—about 400;'o profit.Ofcourse, mums would seem to be the most likely if rates go up—in this case a mere 50 vehicles for trading in the period just basis points—the investor would have ahead. First off, they are the largest, to dig up more margin money(or lose most liquid issues.Thecredit risk is nil. his entire$48,000 investment)and hope And the margins are the slimmest .that the hoped-for drop in rates would around—as we said,ranging from 3% materialize later on. to 10i'o.Gerald A.Guild,veteran bond In playing bonds for price apprcci- analyst at Lombard-Wall,says his four ation, timing is everything. And, of favorite issues are the Treasury 8s of course, an investor should stick with 1986,the 8s of 2001.the 10s of 2010 and the biggest, most liquid issues—onc the 10Y/ds of 2009. with at least $100 million worth of ' GuiId, who works out many of bonds outstanding—so he can get in the highly-leveraged deals,says financ- and out of the market quickly.What's ing is a key element. Accordingly, more, the best bet is quality,since the Lombard-Wall lets clients borrow at slightly higheryieldoflcsscrcditworthy either a fixed rate or a variable rate companies wont make much differ- pegged to the Federal funds rate.Ines- ence if the bonds are held only a few tors can also hedge financing rates by - - - - - months or a year.As Kornstein puts it: suing the financial futures markets.As "It's not worth the lost sleep;you aren't an added plus, the highly-Icvcraged getting paid for the risk." deals can have superb tax advantages THE DEEP END' for the investor in a high bracket.The interest expense .on the margined To enjoy the maximum price account is deducted:while the profits.if swing inabondrally,animcstortradi- realized after more than a year, are tionally buys issues with a distant taxed at the capital gains rate. maturity date and a relatively low Buying bonds on margin,no mat- coupon—thc so-called deep-discount ter how liquid they may be,can have its issues.That%just what people seem to pitfalls. Margin-buying, clearly, is a be snapping up these days. "We cant game for the most astute,well-heeled produce enough deep-discounts to investors—the sort who can comfort- sell," says one Wall Streeter. Which ably cough up any extra margin that ones look best?Bruce Slater,bondana- may be needed. But if the outlook for lyst at E.F.Ilutton,has four favorites, bond prices is as bullish as Merrill all fated triple-A: Exxon 6s, due in Lynch and others think, less stout- 1997;IBM 9'/es,due in 2004;AT&T6s hearted investors should be able to do and 5%s,due in 2000 and 1995,respec- very nicely in bonds.without taking tip-cly. The two AT&T issues arent undue risks. ■ August t,1981 ' REQUE6�FOR CITY COUN6L"ACTION Date May 22 , 1981 Submitted to: Honorable Mayor and City Council .: ` Submitted by: Charles W. Thompson,. City Administrator 4 Subject: INVESTMENT POLICY OF PUBLIC EMPLOYEES RETIREMENT SYSTEM Statement of Issue, Recommendation,Analysis, Funding Source,Alternative Actions,Attachments: -%—,-'- STATEMENT OF ISSUE: The most recent report to Governor Brown from the PERS Board of Directors revealed that the "computed rate of return" on their entire investment portfolio was -only 7 . 91% for the fiscal year ending June 30 , 1980. RECO-NDIENDATI ON: Adopt the attached resolution supporting a change. in investment policies. ANALYSIS: Since Federal treasury notes , Federal treasury bills , a..d short term commercial paper have been yielding interest rates ranging from 12. to 20 percent over the past eighteen months , it seers apparent that PERS could improve its investment policies. This resolution supports a move toward short-term investments and supports the creation of a legislative committee to investigate the investment policies of PERS. ALTERNATIVES: Take no action. ApP�OY D-bY cxrY c FUNDING SOURCE: cciz No funds are necessary. crrr F10 4/81 REQUEST FOR CITY COUNCIL ACTION Submitted by Frank B. Arguello WDepartment Administrative Services Date Prepared March 19 , 19 81 Backup Material Attached FX Yes ❑ No Subject FIRST READING OF ORDINANCE TO AMEND THE CONTRACT BETWEEN THE CITY O�-- HUNTINGTON BEACH AND THE PUBLIC EMPLOYEES' r City Administrator's Comments Approve as recommended. APPROVED I<Y CITY COI7NCli. �1 CaTt C-Laxt Statement of Issue, Recommendation, Analysis, Funding Source,Alternative Actions: C/ Statement of Issue: The City Council previously approved the Resolutior. of Intent to amend the City's contract with the Public Employees' Retirement System to provide the highest single year compensation for calculation of retirement benefits and to provide continuation of employment beyond age 67 for classifications represented by the Management Employees' Organization and the Municipal Employees' Association. Recommendation: Adoption of the attached ordinance to amend the City's contract with the Public Employees' Retirement System. Analysis: This contract is needed to Implement Article IV of the current Memorandum of Agreement between the Clty and the Management Employees' Organization (Resolution No. 4916) and Article 4 of the current Memorandum of Agreement between the City and the Municipal Employees' Association (Resolution No. 4911). This states that the City shall amend its contract with the Public Employees' Retirement System to provide the final compensation based on a period of one year to be effective May 30, 1981, and to provide the continuation of employment beyond age 67. Funding Source: Provision has been made for the additional costs in the 1981-82 budget. Fl3A:dp 0�1*EIVEI Finarce 4 C, � l Pio 3re STATE OF CALIFORNIA EDMUND C. BROWN JR., Gov*rnor PUBLIC EMPLOYEES' RETIREMENT SYSTEM 1416 NINTH STREET, P.O. BOX 1953 SACRAMENTO, CALIFORNIA 95809 Tolephcne(916) 445-6570 Reply to Section 250 Contracts Division Yarch 17, 1981 Agency #0097 Ms. Alicia M. Wentworth City Clerk City of Huntington Beach Post Office Sox 190 Huntington Beach, CA 92648 Dear Ms. Wentworth: The amendment to the contract between your agency and the Public Employees' Retirement System to provide for the exclusion of Crossing Guards, Student designated positions and Senior Outreach Assistants hired on or after tre effective date of this contract amendment, has been executed by our office. A copy of the contract as amended is enclosed for your file. The effective date of this amendment in March 18, 1982. During a telephone conversation on February 23, 1982, I informed Ms. Wentworth that the amendment date would have to be changed from March 18, 1982 to March 27, 1982 to coincide with PERS payroll reporting. This inforrlation was erroneous. Since the amendment doesn't affect the employer contribution rate, the amendment can tecome effective immediately following the date of the final action of the governing body. The amendment effective date has beer changed bnck to the original date requested by your Agency, March 18, 1982. If I can be of any further assistance, de not hesitate to contact me. Sincerely, 7 Karen Krantz T Contracts Division KK:ddw Attachment =BIT A 4. AKUDMENT TO CONTRACT BETWEEN 7M. >~9A_An OF AT'.'_I.'1?:'".'F?AWN r:rn,c r.7nc1 rr . ..:t . r. .ter ANT, n- !r CITY cOUML OF 7HP cITY OF Ful"I' IYC'"VT MAN The Foord of Adirinistretion, Public Frp oyees' Petirement System, herein- after referred to an Eonyd, and the governing body of sbove public age::ay, bereinsfter referred to pe Public Agency, having entered into a contract under We of Motor 27, 1941, effectivs October 1 , 1945, and ee Pren0od effective Knuary 1 , 1950, Parch 1 . 1952, Vovember 1 , 193?, Harch 1 , 1991, October 1 , 1961 , Jenunrr 1 , 1971 , Knuary 12, 19-4, April 18, 1975, February 21 , t916, August 7, 1976, :ertombpr 17. 1977 and Feptcnbcr 10, 1978, which provides for pnr{ic{pnVcn or Public t.r!Rnyo on sAid Eyztin, Po.n& tiQ Public Agency berets agree nn follows: A. Parsernp he 1 tti :'ollgh 10 n rn bprety :'t i dken from s9ld contract fs executed effective SeVenher Y1, 1978, an_d Vrely replacel by the following parr- graphs rnmbarM 1 through 10 irrlusive: 1 . All yords and terns un4d N—r^ir which are defined in. the Public rploypes' Petirem4nt T.ew rhall beep the m:anirp rs defined therein unless otherwise specifically provided. MormAl retirement age" shall r:*ar -pp V for ;ors'_ Kneall-rucun Prd = 50 for locnl safel r ente rz. 2. Apercy Q-31 p^rtirtretp it tr- Public Employees' Retirement Systnm from and after October 1 , 1945 making its employocs as herein- arinr provVed, members of sple Tyotem subject to F31 provisions of the Public Frrtoynos' Petirement Law exanpt such ss rppiy only on clectioh o! n corlrt tirr t•i eery and pro not provided for Mein and to all Prpndnents to ssi_d Lew foreafter enacted except euch as by exnreer rr viriors thereof Pprly only on the election of contracting enpncipx. '3. Dployep-t of P011c Arenry in the followinp Plasses shall tocome members of said Retirement Syster except such in epch Pich class as are excluded by law or this e.greprent: P. , lot-, Urpron (herein referred to as local ssfety members) ; b. L"Al 'Policemen Sprain rnferrod to as locsl sAfAty members); 1. 11fomrAn on ornnn hAnn5ps (1nalulad Ps lnenl onfety members); d. Fmlr•yppq oth?r t►pn lopQ sxfpty rembers (0rein referred to as lord, nine^!lAn: oix rpmberp`I. Tr. xe?l *ice• +„ the nl-vs-v of crploytez excluded fror.- rcmberabip by sod fetirenent 0n the following cleaves of erployces shall not Won, r;arb-rn of raid Vet rer-rt Qstem: a rQ AnDTHONAL MCLUSTOPS • 4. "_'he fre:ction of final corpensation to be provided for each year of credited prior and current re-•vicc ass e local miscellaneous ember s1nll be determined in secordn-top wits Section 21251 .13 of ogle Retirement Law (2� at Age 60). 5. The frectior of final compensation to be provided for each year of credited prior and current service as a local safety r..ember shall be detprmined in eceordence with Section 21252.01 of said Retirement LFw ' Lit are 50). C. provisions of the Public Erployeea' Retire- ,eLt Lax which Apply only upor. election of a contracting agency shall eptly tr, 'Public Agency end Its employees: a. Sections 21380-21388 (1959 Survivorr Progrnm). b. Section 20019.3 (providing for .hn inclusion of li.fegunrds on oceen beaches as local safety r+embers). C. Sections 21263/21263.1 (Post-retirement survivor n11Gwarce), for local fire safety members only. d. %ocnl Policemen" shall include persons P.seigned to Identification end communication duties in the Police Department who Are not nos+ local (safety members &nd who were in nucl: employmgrt on Auruat 4, 1972, who elect safety memtership within eixty days of the effec- tive date of this amendment. e. Section 20930.3 (l:ilitary service credit) as defined ir. Cb!tpter 1437, Statutes of 1°74. f. Section 20024.2 (Ore-yerr final compensation). ( . Section 20983.6 (Vaiver of afire 70 retirement) for local niscel- lnneous members only. 7. Public Agency, in Accordance with "action 20740, Govermnent Code, ceased to be en "employer" for purposes of Chapter 6 of the Public Employees' Retirement Law effectivo on April 111, 1975. Accurulated contributions of Public Agency as of the aforementioned date shall be fixed and determined no provided in Section 2.0759, Goternrent Code, and r.ecumulated contributions as of the nforevontioned date And contributions thereafter made shA11 be !geld by the Roard ss provided In Sectior. 20759, Government Code. 0. Public Agency shall contribute t; said Retirement fiystem Ps follows: e. With respect to mirscalinneous members, the spency s?!all con- tribute thQ following percentnrnzs of monthly zalii:ies corned r_s miscellaneous r1P'zilt r• of zzlC ?tiTrt+f•+!` 7q? k"i (1) 0.171 percent until w1urc 30, 21000 oi, a r.c:.un Z liability for prior service benefits. i (2) 10.725 percent on account of the liability for rurrnnt service benefits. (7) 0.202 parcert on account of the liability for the 119513 Survi vi,r Vrorr:z:. b. With respect to local apfetr renbers, the agency shall contribute the, follcvwing pprerntopps of 4*rtntbly aj?le!ripa eernP4 as local ngfoty npnhf�rs of gsiei T Pti:otprt r,'f~tem: (1 ) 0.012 percent until June 30. 2000 on recount of the liability for prior service benefits. (?.) 26.036 percent or. account of the liability for current service Trnrritr.. r.. A rranoruble rr:our+t po: ,u,rt+r, Ps fixed by the Por+rd to cover the costs of administering avid :yster an it affects the employees of Public Akrcnry, not irclu-Iinr the costa of npc--cirl valuations or of the inveztig-ttior P.nd vsluttirrs required by lay. d. A reaeo"tlP emoant a- flxna by tkA Board, shy-ble in ore install- ment as the occnsiona erino, to cover thv costs or spacInI valus- tions on account of s:r:plovevs of Tlublic Ac:nrr, Or:t costa of the nori.odic investigation and valuations reautred TSV lax. 9. Lontr!bution, rP,qu r-. of PO-1-4. AC- n^y t!n,i ;`:� ey- . r:hnZl bo ntib joct to ed ivatment by Posr, or. account et' smendrents to the public 1 t"r2o;•n��s' ErtirFrlc;.} 3.rv, ere cr reccunt o" •Y'r Fxperlerce tinder the ?C.!.Ar^rrcn t Sritem cs e.nte-'MinF d by the period;e 1nvasUration and valus.t._Qr. rcouiro;' 1`v soid gr.tiren-?nt Lew. 10. Contributions reauir..d of Public Agency and its er•plopnos. shnll be prid by Public Agency to the Eetirtmemt Sy tear; v... f^ t"lirty drys rafter the end of the period to which avid contributions refer or as nsr be prescriber ly Boer*al re aloation. If more or lens than the correct amount of contributions is ppid for nry, rnriod, rropor adjustment shLll be ode in co-inect'on with subsequent remitterces, or ad jurtrientp, on ancourt o`' errors in rortribrtlerf rE.quiree. Of cry or.rl oync Ct.�•' bf; mr-le 1:4v ej •eaC; roe t T:rymentr— r `.7 f't'` *-`1 , er-,Ic;;en and *.hv Po=re. Pnynentr: ty Px�blic Aerrcy to '-zoerd rfy be r -.de in t}:+t fora of rvrrant3, t-%n rl'£^I-_{, t n!-: e!'^:•t_, Crrtifif ' c': coke, r'nrty orders or cash. B. This frendzant rhelt he :ttachca to raid cDntrr.ct sn! rh^AJ to effective on the 6th dry of June 1?8L r-d Vitr►ess cur handr: the ;� d-;y of EOARD OF Arv&TNIA.STRATIC� CI ; P}.;SLI;` Ell' Y� Fti:"r'IF'f`:'.;ti j am"{`•�'i Ira .•}:.L, P7 BY Carl J. F chingo., r"x ative :lfficc•r PA. dint; Cffirer-MA)p approved as to form: ;.ttest: AA 4.C.- u ;;ia IAG, e^.mor, Legal Off'_e e/. Dzte are< :� B" CON-±02 REQUEST FOR CITY COUNCIL ACTION Submitted by Edward H. Thompson Department Peel Date Prepared Decenber 24 , 1980 Backup Material Attached D Yet No Sub;ect Resolution of Intent to amend the contract_between_the City of . aintingtM nh jand the -Public E=Jove-s I RetiX=nt City Administrator's Comments Approve as re IDY C COUNCIL p�PRCVL• 131 TY � L �I.4V GI'rY CIL RlC �o Statement of Issue, Recommendation,Analysis, Funding Saurce,Alternative Actions: This amendment will provide the base upgn which retirement benefits are calculated to te predicated upon the e -ployee's highest one year coupen- sation and to provide continuation of/employment beyond age 67 for classifications represented by the ement Employees' Organization and the Municipal Employees' Ass aattion. Recammndation Adoption of the attached Re lotion of Intent to amend the City's contract with the Public Employees' etiremert System. Analysis This contract is nee d to implement Article IV of the current Memr+andun of Agreement between City and the Management Dnployees' Organization (Resolution " 49 ) and Article 4 of the current Memorandum of Agreement between the City d the Municipal. Employees' Association (Resolution No. 4911). This states the levant position that the City shall amend its contract with the Publi loyees' Retirement System to provide the final compensation based on a per od of one year to be effective May 30, 1981, and to provide the continua on of employment beyond age 67. Provision will he made for the additional costs in the 1981-82 budget. PIA 3r78 r _ ' ' REQUE� FORCITY CbUNCIL ACTION 1 Submitted by __Edward Fl. Thompson _ � Departmen Personnel Date Prepared June 12 , '19 78 B ckup plater' I Attached ® Yes � No Subject First Reading of Ordinance to Amend the Contract between the City of Huntington Beach and the Public Employees' Retirement System City Administrator's Comments Approve . as recommended. l Statement of Issue, Recommendation, Analysis, Funding Source,Alternative Actions: AG Statement of Issue The City Council previously approved the Resolution of Intent to amend the City's contract with the Public Employees' Retirement System on June 5, 1978 to provide for the California Highway Patrol retirement plan for the Police Officers' Association and Marine Safety Officers' Association. The Public Employees' Retirement System Ter*S a first and a final ailing of -an ordinance to amend the City's contract; in addition to the previous resolution. Recommended Action Adoption of the attached ordinance to amend the City's contract with the Public Employees' Retirement System. Analysis The contract mmendment is needed to implement Article 8 of the current Memorandum of Agreement between the City of Huntington Beach and the Huntington Beach Police Officers' Association (Resolution 4300) and Article 8 of the current Memorandum of Agreement between the City of Huntington Beach and the Huntington Beach Marine Safety Officers' Association (Resolution 4392) . This states in relevant portion that the City shall amend its contract with the Public Employees' Retirement System to provide the retirement benefits computed by utilizing the two percent at age S0 formula commonly referred to as the California Highway Patrol Retirement Plan. The Public Employees' Retirement System requires that there be a first and a final reading of this ordinance. The final readin is scheduled for the July 3, 1978 Council meeting. To insure the earliest date possible for implementation in accordance with the Memorandums of Agreement, it is recommended that the ordinance be approved on the June 19,1978 Council meeting. Fw ding Source Provision has been made for the additional costs in the 1978-79 budget. Flo 3178 ' { f R, 1 15. REQUE�+ FOR CITY COUNCIL ACTION i Submitted by Edward 11. Thompson Department Personnel Date Prepared 7/30/79 _ _ , 19_ Backup Material Attached El Yes F1 No Subject Reuisig pERS r-antrar-tAo nrQyide Section 20983 .6 -of the Government Code for our employees . City Administrator's Comments apFR YED I3Y CITE' GQiTyGIL Approve as recomme Y GZ,ERK Statement of Issue, Recommendation,aTlysis, Funding PSource,Alternative Actions: Statement of Issue: The current Memorandum of Understand 'ng w/h the municipal Employees ' Association provides for the modifica ion' of our PERS contract to include Waiver of Age 70 Retirement fo local Miscellaneous Employees , Recomnendation: << This Resolution of Intention is the first s ep in the modification process . f E � 4 Analysis: �- This modification removes the mandatory r tirement\age (i .e. 67) and all o s employees to work provided they a e certified -as competent by City anagement. Funding Source: \ None \ Alternative Ac ion: u' Not to modify PERS,}contract. V) r' r � - r ' P10 3,'78 REQUEir FOR CITY- COUNCIL ACTION Submitted by _Edward H. Thompson _ Department personnel Date Prepared May_23 , 19 78 Backup Material Attached ID Yes No Su`)ject _ Rcsolut<ion pf Intent to Arend the Contract between the City of City Administrator's Comments E rrixDYED By CITY COUI-TCIL Aip rove aS recommended. cK n-G rx r,LA= V J •iY• � M • � � •� 1 i ice• Statement of Issue, Recommendation, Analysis, Funding Source, Alternative Actions: `( Statement of Issue The City has not yet amended its contract with the Public Employees' Retirement System to provide the retirement benefits agreed upon in the current Memorandums of Agreement with the Police Officers' Association and the Marine Safety Officers' , r Association. Recoamended Action Adoption of the attached Resolution of Intent to amend the City's contract with the Public Employees' Retirement System. Final sis The contract amendment is needed to implement Article 8 of the current Memorandum of Agreement between the City of Huntington Beach and the Huntington Beach Police Officers' Association (Resolution 4300) and Article 8 of the current Memorandum of Agreement - between the City of Huntington Beach and the Huntington Beach Marine Safety Officers' Association (Resolution 4392). This states in relevant portion that the City shall amend its contract with the Public Employees' Retirement System to provide the retirement benefits computed by utilizing the two percent at age 50 formula commonly referred to as the California Highway Patrol Retirement Plan. This amendment will result in an increased cost of $393,852. In order to insure the earliest possible date for implementation in accordance with the Hemorandums 'of Agreement, it is recommended that the Resolution of Intent be adopted at the June 5, 1978 Council meeting. The Public Employees' Retirement System requires adoption of an ordinance to implement this amendment. The first and final readings of the ordinance are scheduled for subsequent Council meetings. Funding Source Provision has been made for the additional costs in the preliminary 1978-79 budget. P10 sr,8 6 11X. Nl ntr :street, 3 }'or.' 19:�.) acraiento CA 95809 SAW 7-77) CON T►4CT OF ciTY of 1tt"ZT11,(770rE ?;,�cE► YJTPH THE PUBLIC DITWYES I Rk 110- ', 3T SYSTEI•, FOR K&KING At: ACTUARIAL VAIUMOn AS STATED FERRIN By this AGREEMENT rade this Eleventh day of Snuara in accoi�nce with and subject to the provisions of the Public Employees, Retirimert Law Y.r and t,etwee:. the Governing Pody of the above Public Agency, hereinafter referred to as Agency, and the Public Employees' Retirement System, hereinafter referred to as System.., ACency and System aExee as follows: A. Agency herewith retains the services of System to perform the valuation(s) requires! ty Section 20461.1 of the Public Employees' Retirement Law for the purpose of deter- 1r.ination b;• the f Board of Administration of the Wlic Rmployees' Retirement System cf the contributions to be made by Agency under Agency's contract with said Board if the bone."its under said contract are supplemented Q a corbiration of benefits shown as one or the vertical columnz on attached Exhibit A. The fee for each combination of new benefits is shown at the bottom of the respective column. II, Agency wMJ pay $ to System. upon completion of the actuarial valuation, such fee being based on the number of employees (both active and those leaving contributions on deposit) included in the valuation and the membership categories aid different combinations of new benefits involved. C. Ky and all data and information requested by System from ACencr for use in compi- lation of this valuation shall be furnished to System by Agency upon request Y St-stem. The actuarial tables and procedures to be used in the valuation shall be in accordance with the tables approved by said Board of Administration. System shall have sole control of the valuation and its judgment in the determination thereof shall be final and conclusive. All murk sheets and final results and reports, the product of the valuation, shall be and regain the property of the System... Witrers our hands the day and year first above written. 7PI LIC F2!PIPYEE,' RF'I'If0 r T SYSTI'.1 CTTY Or HU1 l'ItirT01t PRACri Carl J. Jilffninrer, ExecV ve Officer TITLEiDir. Personnel Labor Relations APPROVED AS TO FORM: •_;: DON P. BONFA City Attorney w By• -duty-ca tt a Anendment Valuation 41 STATE OF CALIFORNIA PUBLIC EMPLOYEES` RETIREMENT SYSTEM , 1416 NINTH STREET, P.O. SOX 1933 SACXWENTO, CALIFORNIA 95809 Telephone (916) 445-5147 Reply to Section 020 September 29, 1977 Mr. Edward H. Thompson Director Personnel/Labor Relations City of Huntington Beach• P. 0. Box 190 Huntington Beachp CA. 92648 The amendment to the contract between your agency and the Public Employees Retirement System has been executed by our office. A copy of the contract as amended is enclosed for your file. K I SUK YANG CHIEF ACTUARY Encl. r� O` r .j c �L,•• Carr y8,� .�!T �:.^ /1 t£RJphCL Crtt '��' \N PERS-ACT-16 (2/74) �w f li4l Cityof Huntin ton Beach g P.O. Box 190 CALIFORNIA 92640 1 PERSONNEL DEPARTMENT TO: Floyd G. Belsito, City Administrator FROM: Edward H. Thompson, Director of Personnel and Labor Relations DATE: 26 July 1977 SUBJECT: CONTRACT WIENDIMENT WITH FERS Ordinance No.Z L5 has been prepared to amend the contract between the Public Employee's Retirement System and the City in order to provide one year final compensation for Firefighters. RECOMMENDED ACTION Ordinance No.aa15 should have first reading on Monday, 1 August 1977 and the second reading for adoption on Monday, 15 August 1977 to fulfill our contractual agreement with the Firefighter's Association. t y Resolution No. 4493 was passed by the City Council on 18 July 1977 and was the Resolution of Intent to amend the City's contract with PEPS. The effect of this ordinance will increase the City's Retirement contributions for safety employees from the present 16.326% to a new rate of 17.012%. The 1977-78 budget impact will be $45,059.00 and funds have been included in the 1977-78 budget. S cerely, Edward H. T ompson Director o Person and Labor R lations EHT:sh 1 i X ,ate City of Huntington Beficl P.O. BOX 190 CALIFORNIA42648 r . PERSONNEL DEPARTMENT r . i 'TO: Floyd G. Belsito, City Administrator l d FROM: Edward H. Thompson, Personnel Directox. DATE: July 11, 1977 , SUBJECT: CONTRACT AMENDMENT WITH PERS Attached is Resolution No. 01?3, a resolution of intent to amend the contract between the City of Huntington Beach and the Public Employee's Retirement System. This is to implement Article 12 of the current Memorandum of Agreement between the City of Huntington Beach and the Huntington Beach Fireman's Association (Resolution No. 4340) . This states in relevant portion that the City shall amend its contract with PERS to provide that the base upon which retirement benefits are calculated to be predicated upon the employees highest one year compensation. Recommend adoption by the City Council so that the enacting ordinance may be received from the retirement system at the earliest possible date to ensure implementation in accordance with the Memorandum of Agreement. Provision is made for the additional costs in the 1977-78 budget, $45#059.00. Sincerely, "0,W C', Edward H. Thompson Director of Personnel and Labor Relations EHT:sh ir.JTDMWT TO CONTRACT B TWM Tffi.r) DCARD OF ADMI5TRATIOR PUBLIC 8!0?'LOYEr-ei' Rr.Tl MWT SYSTEM AND THE CITY COUNCIL OF THE CITY OF EMT15GTON BE&CH The Board of Administration, Public Employeea' Retirement System, hereinafter referred to as Board and the CITY CXNCIL of the CITY OF HUNTINGTON BEACH, herein— iXter referred to as Public Agency, having entered into a contract under date of October 27, 1945, effective October 1, 1945, as amended effective January 1, 19501 '.arch 1, 19529 November 1, 19579 March 1, 1958, October 1, 1961r January It 1971, January 12, 19749 and April 18, 1975, and so provided by Chapters 170 and 316, Etatutea of 1971, Which provide for Farticigation of Public Agency in said System, board and Public Agency hereby agree as follows: A, The following oubparagraphs shall tee added to Paragraph 6 of said contract: 6. (h) Section 20024.2 (defining "final compensation" on the basis of average compensation earnable durirZ tree fcrx immediately pre— ceding retirement or arty otter one year period elected by the member) for local policemen and lifeguards on ocean beaches. B. Paragraph 7 �b� shall be stricken from said contract, and the following Paragraph 7 b shall be substituted therefor: 7. Public Agency shall contribute to said Retirement System as follorle: b. With respect to local safety nombera, the Public Agency shall contribute the following percentages of monthly salaries earned an local safety members of said System: (1) 10.295 percent on account of the liability for current service benefits. (2) 0.075 percent on account of the liability for the 1959 survivors program. C. This amendment shall be attached to said contra t and shall become effec— tive on the 21 day of February, 1976 Witness our hands this 19 day of January, 1976 BOARD OF ADENISTAATICRi CITY COUNCIL OF 5M PJffi.I0 EXPLOYES9' RTTIREWT SYSTEM CITY OF HUNTINGTON DFACH BY Carl J. echinger, utive Officer Presiding Offic r Approved as to fora: Atteot: ROVED AS TO FORM Cleric DON P. BO ' A •e�� Rot. norm 702 City Attorney NIScELLArTEOUS 22. To conform provisions for payment to custodian of a minor, rather than through guardianship, to 1965 changes in the similar provision of Section 1430 of the Probate Code increasing the total amount which may be paid in this manner from $1,000.00 to $2,000.00 (Section 21207). 23. . To repeal provisions trade obsolete by elimination of the six months' qualifying period for membership (Sections 20305 and 20306). Reccomendations on the following proposals will be presented in a supplemental report after completion of pending studies: 1. Provision for statutory beneficiaries for basic death benefit. This was a Fart of the 1965 program which was not adcpted by the Legislature. Development of additional data on deaths has not been completed. 2. . To provide a uniform benefit structure! and uniform employer rate ecmbining assets and liabilities, for the State and school districts with possible participation of contracting agencies on an optional basis. Development of the effect on exist- ing employer rates and review of all procedural aspects has not been c=pleted. 3. To eliminate provision for adjustment of discount and improvement factors upon retirement at other than normal retirement in the event of future changes in Interest and mortality tables. 4. . To provide automatic "cost-of-living" increases based on changes in consumer Price index. . This matter is under study by the Joint Legislative Committee on Retirement, C.S.D.A. and System staff. . 5. To provide at employer cost a guarantee of total retirement allowance payments equal to the member's accumulated contributions with elimination of Option 1 at employee cost. Development of the cost of providing this benefit has not been completed. 6. To change prospectively the determination of the safety member contribution rate when a member enters a safety Member category and is credited with service in another category having a different target or normal retirement age. Currently the rate is set to provide at the new normal retirement age an amount which, when added to allowance on the previously credited service, is equal to 25% of final compensation. There is under review a proposal to set the rate in the new employment at what it would have been, had the previously credited service been rendered in the same category. The total allowance will vary to a greater degree from the 25% target than the present method but the proposal would permit the use of standard ratc tables and avoid special computation of the new rate in each case (Section 2o609)• -4- The following proposals relating to Social Security (OASDI) are recommended for inclusion in the Board's legislative program: 1. Repeal of provisions directing coverage action which have been fully executed by Inclusion of the positions in the Federal-State Agreement. (Sections 22127, 22128, 22157, 22210.3. Government Code). 2. To change references to the Federal Social Security program as a result of changes in title and organization of that program (Sections 22004.5, 22012, 22ol62 22126, 22201 and 22203, Government Code). 3. To clarify authority to include in Social Security coverage "ineligibles" in positions covered by a retirement system after the system has been divided and members desiring coverage have been included (Sections 22206, 22207, Government Code). 4. To clarify description of eligible persons in provisions for referendum by deleting "retirement system" from "the eligible retirement system employees of any retirement system coverage group" (Section 22300, Government Code). 5. To substitute "Department of General Services" for "Department of Finance" as the agency authorized to prove assessments of cost of audits of public agencies (Section 22559, Government Code). The following proposals relating to the Meyers-Geddes State Employees' Medical and Hospital Care Act are recommended for inclusion in the Board's legislative program for 1967: 1. To provide for consolidation of employee organization plans into Board health benefit plans implementing Paragraph III, C, 3 of the Board's 1965 Report to he Governor and the Legislature. This proposal was included in Assembly Bill 1763 at the 1905 General Session. 2. To provide for State contribution toward cost of coverage under a health benefit plan fror. date of enrollment rather than upon completion of six months of eWptoy- ment implementing Paragraph III, C, 1 of the Board's 1965 Report to the Goverr_c- and the Legislature. This proposal was included in Assembly Bill 1761 at the 1565 General Session. 3. To clarify provisions relating to enrollment of survivor allowance beneficiaries to assure that there will be only one State contribution with respect to multiple beneficiaries of one employee (Sections 22754(e), and 22815). 4. To implement where necessary, such recommendaticns relating to mayor medical coverage of the Medical Advisory Council as are adopted by the Board. -5- h? CITY OFHUNTINGTON BEACH 1 COUNCIL-ADMINISTRATOR COMMUNICATION To Honorable Hayor and City From Floyd G. Beisito, Council Mcmi>ers City Achninistrotor Subject Public Employees' Retirement Date June 5, 1978 System Resolution Attached is a revised Resolution of Intent to amend our contract with the Public Employees' Retirement System to provide the QfP, 2% at age 50 retirement plan for the Police Officers' Association and the Abrine Safety Officers' Association. The revision contains a change in the wording of the statement of proposed change as follows: Section 21252.01 (Full 2% at age 50) for police and lifeguard members. Also attached is a copy of said amendment to the contract between the City Council and the Public Employees' Retirement System as an exhibit. This amendment will -result in an increase in the City's contribution rate from 0.0% to .006% for prior service until June 30,2000. The effect of this amendment will increase the City's retirement contribution rate for safety employees from the present 18.052% to a new rate of 22.69S%. The 1978-79 bildget impact will be $393,852 and funds have been included in the 1978-79 btidget. This contract amendment is needed to implement Article 8 of the Polite Officers' Association and the Marine Safety Officers' Association Memorandums of Agreement. This airenLI unit was to he a rrect ive on July 1, 1978, however, due to the delay of the Retirement System in computing the actuarial valuations, the earliest possible implementation date is August 5, 1978. The first and final readings of this ordinance are scheduled for subsequent Council meetings. Respectfully submitted, //. -e/,:��. loy lsito City Administrator r 'n/ 1012 Huntington Avenue Huntington Beach, Calif. March 12, 1962 Honorable Members of the City Council Huntington Beach, California. Gentlemen: As the cost of living has so greatly increased since my retirement, I wrote to the State Employees' Re- tirement -System to-see if an increase in my- pension 'Ras - - - -possible. In answer to my letter, I was informed the City of Huntington Beach would have to amend its contract to provide an adjustment in the allowances of retired mem- bers. The City has given various raises to the diff- erent departments to cope with the high cost of living. Is there anything that can be done to help the retired personnel? Thanking you for the consideration you give us in this matter, I am Yours very truly, ' r Al ed J. Pa r r .W KTPE k C.KENREDY,*RLf1014T " c W RITAN E.PAYNE STAVLIY B.FOWLER,Yic[PRtftbora EXECUTIVE OFFICER - - - JONN 9. GRR LAUREN G.HAICHT AACTUARYROR[RT D..GRAY - - �.- - - OTTOPALOMfO `(� FIAROLO N.ROSINsoN EOYtARO K.COOnfs D.GORDON TYNDALL TNOMAf A.st[AD Aff ItYA NT[7f[CUT1V[OF/IC[R STATE OF CAUFORNIA BOARD OF ADMINISTRATION 1227 O STREET SACRAM ENTO 14 I November 28, 1961 e� f+ PL[A�DIR[cT VOuR RaMY To s[CVCN 22 R[►[R T01�[[Mf[R ACCOUNT NUMf[ [0 SR �l 5-- Mr. Alfred J. Parker 1012 Huntington )venue _ Huntington Beach,-California Dear Mr. Parker: Your fernier employer, City of Huntington Beach, would have to amend its contract to provide an adjustment in the allowances of retired members. This is in reply to your letter of November 11 1961. r Yours truly, 1:40 D. M00hE CFIEF, BENEFITS DIVISION LH/eb -r 7. The folio-Ang provisions of the State bnployeeel Retirement Law i which apply only upon election of a contracting agency shall app3,T to the Public Agency and its employeess a. Section 22251.1 (prodding for a guaranteed percentage of final compensation for each year of errrent service as a miscellaneous member). b. Section 212.52.4 (providing for r. guaranteed percentage of final compensation for each year of current service as a local rafety member). ce Section 20024901 (defining "final compensation" on the basis of a.period of 3 consecutive yerr's). d. Section 21258(b) (providing a minimum retirement allowance of 020.00 per year). e. --.Section 27367.51 -(providing a $LM.00 death"benefit upon death after retirement). f. Section 20025 (providing for inclusion of compensation without limit in computations of benefite). g. Section 20304.5 (providing -for ten election by members to contri- bute and receive current service credit for the service rendered prior to membership.) h,. Sections 21251,3 (providing for increases in allowances payable for time commencing on March 1., 1952, to persons retired on and prior to Karch 1s 1952L9 except that subparagraph "c" above does not apply). 8, Public Agency shall contribute to tudd Retirement System as follows: a. The rum of $24923.17 per annua in installments as Board shall require for 25 years,, lees the years elapsed between the effective date of this contract and this amendment,, on account of the liability for benefits based or. prior service. llolel`b.�9,102 reent of total salaries id b Public Agencyeach month -to its employees who are and hereafter become membes of said Retirement 8ysteem, provided that only salary earned as members of said System shall be included in said total salaries. c, A reasonable amount per ann:tm, as fixed by Board to cover the costs of aiainistering said System as it affects the employees of Public Agency, not including the coats of special valuations or of the periodical investigation and valuation required by lair: provided that said amount shill be determined on the basis of the number of employees of Public Agency who are members on July 1 of the respective fiscal years, -or with respect to the first year of participations on the effective date of said participation. Piet. Form 702-2 - - y JJ 4 l - • Y mr-mbem of eAd Retirenent :yTtaa, provided that only salary earned as nezbers of said System shall be in- cluded in said total salarios. c. A reasonable anurant. per aruxt, as fixed by Board to cover the costs of ad:Ydnistering uaid System as it affects the employeea of Public A eney, not including the costs of special valuatio:m or of the periodical investigation and valuation required by lax, provided that said mount shx1l be dctj=J=d on the basis of the nun.-er of e-VIc7ces of Public Agency who aro tubers an July 1 of the respective fiscal years, or with respert to the first year of partici- pation, on the effective date of said pnticipation. d. A reasonable mount as fixed by the Board, payable in one installment n3 the ocoasiora arise, to cover costs of spe- cial valuations on acco-snt of e-Vlcycos of Public Agenc7, and costs of the periodical investigation and valuation required by lax. 9. Contributions required of Public Agency and it3 ciployeas shall be subject to adjustment b, Board on account of ar:nd.-ants to t1he State Employees' Retirement Lase, a`-d on account of orperience under Vie Retire=entt System, as determined by the periodical irrrestigation and valuation required by said Retiret Law, 10, Contributions required of Public Agency and its ca,)loyees shall be paid by PW.3lic Age-=7 tc the notiremant System within thirty days after the end of the period to i&ich said contxibutions refer. If rrorc or less than the correct rs:ount cf contribution is paid for arV period,, proper adjustment c:mll be made in co-ruction vfth subsequent rw.dttances, or adjustments on Lccc ant of errors in contributions required of em (!.loyco r.V be mado by direct cash payments between the employee snd Board. Payments by Public Agency to Board tam be mada in the form of warrants, bank checks, tank drafti, certified Creeks, mney Was. or cash. B. This &-ten±aent nh&U be attached to said contract &-id ashIl beco= ef- fective on the jam : dry of Witness our hands this 2 2nd .� day of Au is t 1961 ' VoAFLD 07 AGI IMSTRATIC:t 5111M M14=1 =TYIi:%2= S7CSTE-1 CI:1 CCJ1,MIL 0:` TIM CiTr C. 10=2.117110N MAIM, lies dZ' c:F er suYrpt Attest: BY - 2 iilliam E. Payne, cu u 0 ficar � Cleric 6111 Ret. Forra 702-3 r t �Wj r STATE OF CALIFORNIA � BOARD OF ADMINISTRATION lauege Fwfirenlalt 1227 O}TREET SACRAMENT0 14 PLxr{s DIRWT YOUR R[PLT To 69CTIOPI 23 September 13, 1961 R[ri.To MUMS.ACcouNT Numai City of Huntington Beach Attention: 11r. Paul C. Jones, City Clerk The amendment to the contra.-t between your agency and the Employees' Retirement System has been executed by our office. A copy of the contract as amended is enclosed for your files. EU E. J+ KS ASSISxA T A TUAfix Encl. me Bet. Fora 512 (Rev. 8/58) 100 STATE OF CALIFORNIA BOARD OF ADMINISTRATION 1227 O STRSIT SACRAMENT0 14 PLEASE DIRECTYOUR REPLY TO SECTION �7 February 13.9 1959 R&MR To 149adOtrt AccOUNTNurR- — A1 ttflr tt7 9 City of Huntington Beach Enclosed for your file is a colt of the contract between your Agency and Coates, Herfurth and England, Consulting Actuaries, as approved, by the Board of Administration. The contract is for the work to be performed by the Consulting Actuaries in connection with the quadrennial valuation as of JLme 30, 1958. No remittance is to be made now. You will receive a statement from the Actuaries upon completion of the work. Remittance should then be made directly to the Actuaries and NOT to the Retirement System. LALM C. HAIGE / ACTUARY Encl. me Ret. Form 891 (Rev. 10/58) 350 • STATE OF CALIFORNIA BOARD OF ADMINISTRATION '"late �wtylqed �Idtirrutrut 9ptcut 1227 O sTRUr SACRAMENT0 14 KRAfS D{RKCT YOUR Re►LY To SECTION CONTRACT OF RertR To MnlstR ACCOUNT NUMB CITY OF AUI�'IKGTON BEACH Name of Public Agency with the Firm of COATES, HERFURTH AND ENOLAND, CONSULTING ACTUARIES, for making an investigation and valuation, as stated herein. . 1. This AGREEMENT made this day of , 195 , by and between the 0(T".CIL of CITY OF H[J:fItIGTQ:l BEACH , hereinafter referred to as Agency, and COA^LS, HERFURTH and ENGLAND. Consulting Actuaries, hereinafter referred to as Actuaries. WITNESSETH: 2. Agency herewith engages and retains the services of Actuaries for the following work: a. To make as of June 30, 1958, with reference to persons who have been and are members of the State Employees' Retirement System with credit for service rendered as employees, the investigation and valuation provided for in Section 20127 of the State Employees' Retirement Law, the results of said investigation and valuation to be the basis of determination by the Board of Administration, State Employees' Retirement System, of any necessary adjustment in the contributions required of Agency under the contract be- tween its legislative body and said Board. b. To make as of June 30, 1958, such valuation of assets and liabilities as may be necessary to determine the contrlbuti.on which could be required of Agency if it subjected itself and its employees to certain -amendments to the Retirement Law. The Actuaries' reports with respect to said amendments shall be as follows: None Ret. Farm 424-1 (Rev. 9/58) 2500 3. It is assumed that the employees of the Agency are of 3 member classifications aad that there will be included in the valuation 143 persons who are members or who are receiving retirement allowances because of service rendered to Agency. 4. Should Actuaries encounter in the valuation any unusual altuatlon or should they be requested to make further valuations of different combinations of benefits and contributions, which might require an additional expenditure of time, said situa- tion and request sh:;ll be brought to the attention of said Board of A,amiristraticn for further consideration. It is understood that the time expended in connection with said unusual situation and further valuation, is not included within the fee stated herein. 5. Agency and Actuaries understand that said Board of Administration will furnish to Actuaries, the data relative to persons who are members of said Retirement System with credit for service rendered as employees of Agency, necessary for performance of the work descrived in paragraph 2. Bath parties also understand that said Board of Administration will make available to Actuaries, various tables and schedules of rates based on the experience under said Retirement System among mem- bers thereof, as determined in current and previous investigations and valuations. Both parties understand, further, that in accordance with said Retirement Law, the work to be performed by Actuaries shall be performed under the direction of the Actuary of the Retirement System, and that all data in connection with said work, including work sheets, final results, and reports from Actuaries, shall be the property of the Board of Administration and shall be delivered to said Board at the conclusion of said work. 6. For the full performance and completion of.said services, Actuaries shall receive fr= Agency, the following amounts: For work provided in subparagraph a. of paragraph 2 hereof $ 203.65 For Work provided in subparagraph b. of paragraph 2 hereof $ Total $ 20 -65 Subject to adjustment on account of variation in the number of employees for whom data are submitted as provided In paragraph 5 hereof, from the number of such em- ployees stated in paragraph 3, and subject to any adjustment made on account of any unusual situation, or on account of further valuations of different ccmbina- tions of benefits and contributions requested by Agency, as hereinbefore provided. Agency agrees that the sure fixed in this paragraph as compensation for the services to be performed by Actuaries, shall cover only the calculations and conferences between the officers and employees of the Board of Administration and Actuaries, necessary in the performance of the work, excluding conferences between Agency and Actuaries. It is understood and agreed that Agency shall deal only through said Board of Administration. 7. Actuaries hereby agree to render the services herein provided for and to complete the same in a satisfactory and expeditious manner. Actuaries shall furnish to the Board of Administration, in addition to data provided herein to be furrished, a written su=arj in duplicate on the Retirement System's form, of the results of the calculations made under this agreement and the compensation provided for here- In shall to payable by Agency when such sur:rnry is delivered to the Board of Administration. Ret. Form 424-2 (Rev. 9/58) 2500 8. This contract is made and entered into in accordance with the provisions of Chapter k of the State Employees' Retirement Law, and is subject to the provisions of said Law. WITNESS OUR EP24DS the day and year first above written. MRITINGTON BEACH Name of Agency Approved by the Board of Administration, STATE EMPLOYEES' MIEEKE24T SYSTEM Title ( � ` r By r Executive Offi`Cer - - COATES, WXURTE Ah'D ENGLA`ID., By Partner Bet. Form 424-3 (Rev. 9/58) 2500 wli Lisilge!. k �"r STATE OF CALIFORNIA BOARD OF ADMINISTRATION tR r 9, QL 1227 O aTplCT �vi�t� 1,2, 1g� r SACRAMENTO 14 4di Nth W I 23 rrrr�Tyy 6e W+Q7 [P [criOY Haxch 11, 1958 ac.s fix gv�dc TNUMMIt - City of Huntington Beach City Hall Huntington Beach., California Attentions John L. Henricksen The M; ecutive Officer has Erproved the €mendment to the contract between your Agency and the State bnployees+ Retirement System. The am^nde& contract has been executed by thie offic© and a copy is enclosed for your files. T?iLMMS F. CROCKM ASSISTRIT ACTUARY Encl. Mc , 1 Rot. Form 512 (Rev. 1/58) 200 STATE OF CALIFORNIA t BOARD OF ADMINISTRATION "#M# �11 as' �IrftirrnirrA 1227 0 OrRZKY SACRAMENT014 December IS., 1957 PLI"9 011RCCT YOUR RCPLT To fscTlo� O l� R[FLR TO MEMNER ACCOUNT NUMsm r C u y City of Huntington Beach The Board of Administration has approved the amendment to the contract between your Agency and the State Employees' Retirement System. The amended contract has been executed -by the Board end a copy is enclosel for your files. THOIf.AS F. CROCKER ASSISTANT ACTUARY Encl. . arc i Ret. Form 512 (Rev. 5/57) 200 Y) AlShTDKEXT TO COM'T�ACT BENME I THE BOARD OF ADMMSTUTION OF THE STATE DGWYEESI RE'FiRatM"r SYSTE14 APB THE CITY CWHCIL OF THE CITY . OF E33r"TIZiGZC14CA . The Board of Administration, State Employees' Retirement System.9 and the City Council of the City of %ntington Beach, hereinafter referred to as Public Afeney, having entered into a contract under date of October �70 1915.t effeot- ive October 1,, 1945s which provides for the participation of said Public knncy in said Retirement .gates in accordance with the State Employees) Retircrent Ltwj, said Board of lAdmistration and Raid City Council hereby agree as followss le Paragraph 8 sha11 be and is hereby-stricken from said contract; 2. The follaraing paragraph shall be and is hereby added to said Contract: 8. The provisiona of Section 21367.51 of the State Employees' Retire=cnt Lave providing a C400 death benefit after retirement MALL APPLI to persona who are retired on the effective date of this amendment and who becone retired thereafter because of emplopsnt by Public Agency• 3. The percent shown in praragrapls llb shall be anerAed to read 9.102. 4, This amendment sh be attached to said Contract and shall be effectiva to of�, Witness Our hLnd this & dad' of / l Q.f'�) • BOARD OF AM O I STRAT-tCU CITY couxc lL:-bF THE '. STATE EHPLOYEES' JU r711 tTT SYSTEM CITY OF Hwj,ING BEACH'eke r President PreL Offr cer, �yar-Pre-tea Attests Attestt 1 �� y i Approvad,by the Board of Administration, State Employees' Retirement 9yatem at tho -meeting held }g 1 _ ) /. , .Lgz I ! f ' OHulltt' llVJL0ll Beac.h City .. for* Q calif tnilia O Ilay 21�„ 1�G? D P I�►_O TO CITT CODI CIL ra M. rPAM CITY 1'. 111TISM.1t0% �i At the M y `xct Co�^icil matin f the runient cf Alfred J. Par'_.e;, .lori; T. a that of, 5 Qthcr retire Cite employeec, vac referred to this office. An you rcmcmber they were requectin; ram. amndmnt to v :r Statz Emloyces Ratimmant- S7stem Contract that crould permit an. incrcrc_ in their pension I po^cd this ct:^ctio:: to tm pcnsicn conealtant firm of Lnndic, I tlehouce and Co.ripany of Lo: �cica. Thcy vere not ruarc of .ny pension pigs:, private or govarn- . m twl, that mml= pcnrio.i aftar retire=nt. It van elmir opinion that the California State retire- t-�Mt PIT-In i., frr mra libaral t1k^.n rmct p^r.^ion pl.-Mr, in pr ivatc ;.rtarpri.cc, mv! tl:it .tha addi.t:mal cost of this ad j t= t would ccta bl h 'a p:c_-idcnt tlaat u ould cnot7b all into a ctarcrir.; addi,tioa. cost to Va:2 to%-payar. "hie co nultant firm called tti� attcrticr.:_to a rccc:3t cot=t cello is i on involving, n c i.nilnr re qua^t by the re- tired m-mber.- of the Los An:-c:lcc City Polica rind Fire Dapa_rt—ntc. �, ►��wsr , I!ay 241, 1:52 .. �- • City c1f Huntington Beach � � �rili-{n7iiu i. :0 TO CiTr-COMICIL':'al CiT'x' ccvrt decLaicn- :tatcd cle=ly Vh.-t tho City and t.:a t:::paye had r o cbZi:;aticZ in rc-axYi to ti:e rc- c;�ewfi. p. It is = !:-)inicn that cur Cit<.r ;ctirc ant Plan, =d.—r cSctca,. is not mart or daci;,ned to fu=iz;:i all CZ thL ♦:cc of; :.I1 C 1i)ycc to :c�rcti nt, but rat::cr, that-it it be cut 71e*=ntal in na turc in crd-or t.ict ra- tir�:ct 'g�. .:crncl ray L� cc:idrtr ble faith t:� =arcica Gi a ::o?a t nraa LI:t: of privat c • Lit tilt:iva. �aa On a ccurt decision, it ir��LFoa l i; 1alca =d t a advice c the P%--=irn Plan Conn-altant Firia, I �.mst �4�.Vrr rt�a..ilii V•1 ap.- One C+ity Council Jen-y tha .a • e . wry+i•a..+rw�rt��r.....wT'*'�7�erw°h.w...w s-.::7�Mnwr..'_ *�""�"T'�..'�':"'*'^T';'llnfrJ�lt' r --.. f� r [T- D.te V PLEASE REPLY TO Signed Date Signed Redillrm SEND PARTS 1 AND 3 WISH CARBONS INTACT. 4S465 PART 3 WILL RE RETURNED WIIFI REPLY. L f r � . CQ _. ,CT OF WITH THE I'IRa: OF COATES, HERFURTH AND ENGLAND, CONSULTING ACTUARIES FOR MAKING A VALUATION AS STATED HEREIR By this AGREEMENT made this I01b day of January , 19 63 , in accordance with and subject to the provisions of the State Employees' Retirement law, by and between the -9-PY W17r.:IL_ of the CITT OF h7r.r .GTON MkCFT hereinafter referred to as Agency, and COATES) HERFURTH, AND ENGLAND, Consulting Actuaries, hereinafter referred to as Actuaries, Agency, and Actuaries agree as follows: A. Agency herewith retains the services of Actuaries to perform, as of June 30, 1962, the Investigation and valuation required by Section 20127 of the State Fmployees' Retirement Law for the purpose of determination by the Board of Administration of the State Employees' Retirement System of the contributions to be grade by Agency under Agency's contract with said Board in accordance vith Section 20527 of said Law. B. Agency's contract with the Board of Administration covers 247 present, former, and retired employees of Agency in membership categories with benefits as specified in Contract Status Form 556-s attached hereto, and said contract provides that liabilities on account of prior service shall be amortized as a percentage of member payroll until Snptrt'*+r 23, 1970 C. Agency will pay $ 275. to Actuaries upon completion of the valuation, such fee being based cn the number of persons and membership categories set forth above. Should Actuaries encounter any unusual situation which might require an additional expenditure of time, said situation shall be brought to the attention of said Board of Administration for further consideration. It is understood that the time expended in connection with said unusual situation is not included within the fee stated herein. D. Data relative to members and retired persons shall be furnished to Actuaries by the . Board of Administration, State Employees' Retirement System and the Actuary of said System stall specify the actuarial tables, schedules of rates, and other actuarial factors and procedures to be used. The valuation is to be conducted under the direc- tion of the Actuary of said system and all work sheets, final results, and reports fror. Actuaries are to be delivered to him et conclusion of said work. Agency shall deal with Actuaries only through the Actuary of said system. E. Actuaries shall render the services herein provided for in a satisfactory and expedi- tious manner. Actuaries shall furnish to the Board of Administration, in addition to data provided herein to be furnished, a %Titten summary in duplicate on the Retirement System's form of the results of the calculations made under this agreement. The cowpensation provided for herein shall to payable by Agency to Actuaries when such summary is delivered to Agency ty the Ioard of Administration. ,Witness our hands the day and -year first above written. COATZ5, TH AND ENGLAND CITY OF I�[t'TiuGTO:s B:ACH Fame of me` � BY Partner BY APPROVED BY William E. Payne, Executive Officer Title Mayor for Board of Administration, State Employees' Ret A'1'egt System. Ret. Form h24 (Rev. 11162 2000 jty Cler. ti •_,� � _ C&A-v CT OF C*Tr C7 Ii13:'TI': -M[ 33' C).%w WITH THE FIRM OF COATES, HERFMTH AITD ENGLAL0, CONSULTING ACTUARIES FOR MAK FG A VALUATION AS STATED MEIN By this AGREF7T made this 101b day of _January___,, 19fi3 , in accordance with and subject to the provisions of the State Employees' Retirement Law, by and between she CI i-f CZ A,.-.'IL of the ` '`1'J ` ' -• s hereinafter referred to as Agency, and COATES, EF.RFURTH, AND 10GLANI), Consulting Actuaries, hereinafter referred to as Actuaries, Agency, and Actuaries agree as follows: .1. Agency herewith retains the services of Actuaries to perform, as of June 30, 19U, the investigation and valuation required by Section 20127 of the State Employees' Retirement law for the purpose of determination by the Board of Administration of the State Employees' Retirement System of the contributions to be made by Agency under Agency's contract with said Board in accordance with Section 20527 of said Law. B. Agency's contract with the Board of Administration covers 247 present, former, and retired employees of Agency in 2 membership categories with benefits as specified in Contract Status Form 556:—satteched hereto, and said contract provides that liabilities on account of prior service shall be amortized as a percentage of member payroll until SF.1tM*nr A. 1970 C. Agency will Fay $ 275• to Actuaries upon completion of the valuation, such fee being based on the number of persons and membership categories set forth above. Should Actuaries encounter any unusual situation which might require an additional expenditure of time, said situation shall be brought to the attention of said Board of Administration for further consideration.. It is understood that the time expended in connection with said unusual situation is not included within the fee stated herein. D. Data relative to members and retired persons shall be furnished to Actuaries by the P.oard of Administration, State Employees' Retirement System and the Actuary of said System shall specify the actuarial tables, s2hedules of rates, and other actuarial factors and procedures to be used. The valuation Is to be conducted under the direc- tion of the Actuary of said system and all :pork sheets, final results, and reports from Actuaries are to be delivered to him at conclusion of said work. Agency shall deal vith Actuaries only through the Actuary of said system. E. Actuaries shall render the services herein provided for in a satisfactory and expedi- tious manner. Actuaries shall furnish to the Beard of Administration, In addition to data provided herein to be furnished, a written_ summary in duplicate on the Retirement System's form of the results of the calculations made under this agreement. The compensation provided for herein shall be payable by Agency to Actuaries when such sca ry is delivered to Agency ty the Foard of Administration. Witness our hands the day and year first above urittun. COATES, H RF'URM., AND ?SIGLAND CITY 07 i ct::_`Z::17():{ f:.hCl: name of A o BY � p � , Partner Z- t BYnyy ` - APPROVED BY _ Wil iam E. Payne, Execs�ttive • �fIcex Title Mayor for Board of Administration, State ;Emplcyees"Retirement System. Attest - �•r L V. lu C4 ac.r. LAT. lei k4.01, i" EXPLANATION OF CONTRACT SUTAYARY F,3rri 556-s (Rev. 3/62) has been designed to set forth all possible variations in contracts between the Retirement System and public agencies, the existence of any related OASDI (Social Security) benefits, and the dates of all contract amendments. Where a contract has been amended in order to coordinate State Employees' Retireme& System and OASDI benefits, the date of such amendment has been circled. Certain items on Form 556-s pertain only to the date or circumstances of initial SERS or OASDI coverage. Those are numbered 1.0 through 1.05 on the form. Others show special previsions which apply cnly where a contracting agency has transferred its pre-existing local pension system to SM. This group of entries appears on lines 2.0 through 2.03, 6.01, and 6.02. Except for the fact that SE.RS and OASDI benefits can be extended to employees not pres- ently covered, an agency cannot amend its contract to change any item in Section 1.0 (coverage), 2.0 (kcal system), or lines 6.01 aad 6.02. However, the governing body of each agency has some freedom of choice with respect to the remaining items. Those items are discussed in groups which are distinguished by the degree of choice afforded by the Zak. Group A consists of six items which define the basic benefits. Within each of these, var g levels are available and an agency can mjve from a lower to a higher benefit within any such item. Those vi.x items and the_r possible variations are: 3.01 Basic formula (for miscellaneous employees) 1 ke0-1 70 FF* Provides a benefit for each year of service equal to 0.7 of of the 1st $400 of final compensation plus 1.4% of remaining compensation. Formal retirement age is 65 and benefits are actuarially reduced for earlier retirement to a minimum retirement age of 60. 1 70 FF Provides an age 65 benefit for each year of service equal to 1/70 1. of final compensation. Minirram retirement age is 60 with actuarial reduction for retirement before 65. This formula provides about 2/3 as much service retirement allowance as the 1/60 Fixed Formula and requires about 2/3 as much in the way of member contributions. 1 40-1 60 FFx Normal retirement age is 60 with a benefit for each year of service equal to 1.1% of the 1st $400 of final compensation plus 1 2/3% of remaining compensation. Actuarial reduction applies to retirement before 60 (minimum age is 55) and actuarial improvement to retirement after 60. 1/60 FF Provides an age 60 benefit for each year of service equal to 1/60 1 3 ) of final compensation with actuarially reduced benefits as early as age 55, actuarially :mproved benefits for retirement after 60. This is the highest benefit forrrala for miscellaneous members and pays approximately 50% more than tha 1/70 Fixed Formula. # Restricted to groups covered by OASDI Note: In a few cider contracts the :-nitials "MV" are used instead of "FF". In such cases, current service benefits are not guaranteed (fixed formula) but are simply the ariount which can be provided by accumulated employee contributions plus matching agency funds. Ret. Form 528-1 12/62 1000 As a general rule any possible amendment action here depends on the combination of SEES formula and OASDI benefits as follows: Basic Formula Possible Change (line 3.01) 1/140-1/70 FF (with OASDI) 1/70 FF or 1/90-1/60 FF 1/70 FF (with OASDI) 1/90-1/60 FF 1/70 FF (without OASDI) 1/90-1/60 FF with OASDI or 1160 FF (without OASDI) 1/90-1/60 FF (with OASDI) or No change 1160 FF . ' . 1/70 MV (with OASDI) 1/70 FF or 1/90-1/60 FF 1/70 MV (without MISDI) 1/70 FF (with or without OASDI) or 1/90-1/60 FF (with OASDI) or 1C_ ) MV Z%60 � (without OASDI) r Any change in this item will require an actuarial valuatinn. 3.01 Basic formula (for safety members) 1%at�60 Restricted by 1957 legislation to safety members covered by OASDI. Provides a temporary annuity to age 65 plus a life income. At normal retirement age (60) life income is 11% of final compensation times years of service. Benefit is actuarially reduced for early retirement to minimum age of 55, improved for retirement after 60. at 55 FF Applies to all safety members (except one-half at 60 WI in Emeryville #066 and one-half at 55 M7 in Calexico #2hh) who are not covered by OASDI. Benefit at 55 is 50% of final compensation for those with at least 20 years of continucus service to that age. Except for the possibility of changing the Emeryville and Calexico contracts to one-half at 55 FF, amendment action here is not advisable because the SERS formula for safety members is dependent on QASDI coverage action. 3.04 Minimum Retirement Age For miscellaneous members, this provision is governed entirely by the basic formula shown on line 3.01. Age 60 applies for all 1/140-1/70 and 1/70 contracts, age 55 for all 1/90-1/60 and 1/60 contracts. This item is variable only for safety members so that the minimum age normally used (55) can be reduced to 50. Where this applies however, the early retirement benefit is reduced to the actuarial equivalent of the normal benefit which would be paid at 55 (60 for 14% contracts) for the same amount of service. Thus an amendment to provide this feature can be adopted without an actuarial valuation and with no change in member or agency contribution rates. For contracts so amended this item shows as "50 disc." Ret. Form 528-2 12/62 1000 3.05 Minimum Guarantee The entry here can be: None $too $60, or $100 To a certain extent, the minimum guarantee is governed by the basic formula shown on 3.01. Thus, the $40 minimum normally applies only to the 1/1LO-1/70 and older 1/70 contracts and then only to those who retire at the compulsory age (70 for miscellaneous or 65 for safety) with credit for prior service. However, five 1/90-1/60 FF contracts provide a $40 minimum. (Those are Bay Area air Pollution and Control District ##408, Yuba County #422, West Sacramento Sanitary District A34, City of Davis ##437, and San Francisco City and County Redevelopment Agency ##442). Newer 1/70 contracts usually carry a $60 minimum. Normally, 1/90-1/60 and 1/60 contracts provide either the $60 or $100 minimum. The $60 guarantee operates when a 20 year member retires at 65 or alder, the! $100 when retirement occurs at 60 or later with 20 or more years of service. In each instance the guarantee applies to compulsory retirements with prior service credit. The amendment action which is possible here would depend on the basic formula as follows: Possible change (line 3.05) Basic formula (line 3.01) From To 1/140-1/70 FF None $40 1/70 FF hone $40 or $60 ao $6o 1/90-1/60 FF None o: $40 $60 or $100 $60 $100 1/60 FF None or $40 $60 or $100 $60 $100 Actuarial valuation is required as a preliminary to amendment action. Member contribution rates are not affected. 3.06 through 3.09 Modification for OASDI These lines describe the modifications to SERS benefits which are permitted for coordination with OASDI. The text specifies the level of compensation to which a modification (either 1/140 or 1/90) cf the 1/70 or 1/60 formula applies, while the columnar entries specify the dates from Which service is subject to the modified formula. Service prior to the date shown on line 3.06 produces a benefit calculated under the full 1/70 or 1/60 formula as the case may be. If the colt.mnar entry on line 3.06 is the word "empl'mt" instead of a date, this means that the applicable modification (1/10 or 1/90) applies to all previously rendered service with that agency regardless of whether such previous service is current or prior service. Where the phrase "variable per rASDI" appears in the columnar space for lines 3.08 and 3.09, the level of compensation to which the modification apt ia-z will change automatically from the date, and in accordance with the amount, of any change in the GASDI coverr,d wage. P.e t. Form 528-3 12/62 1000 The amendment actions which are possible here depend on an agency's existing combination of SERS and OASDI benefits. For example, a 1/70 agency which does not have Social Security can simply add OASDI with- out a contract amendment to change its SERS benefits, or it can amend to either the 1/140-1/70 or 1/90-1/60 formulas concurrently with adoption of OASDI. On the other hand, 1/70 agencies which also have OASDI can amend only to the 1/90-1/60 formula and maintain a coordinated program. An agency which has the 1/60 formula can change to either the 1/70 or the 1/90-1/60 plan in connection with adoption of OASDI. An actuarial valuation must precede any such amendment. 4.0 Compensation average This section defines the "final compensation" used to calculate retire- ment allowances. For the few older contracts which provide "Money Value" benefits (instead of fixed formula), the entry on line 4.01 for prior service benefits will to "3 pre-cant." for miscellaneous employees to indicate that their prior service benefits are based on earnings during the three years ]preceding their SERS coverage date (line l.a). In each such "Money Value" contract, prior service benefits for safety members are based on salary (of not more than $416.66 per month) during their five consecutive highest paid years. Also, the law requires that such contracts provide current service benefits on a "Honey Value" basis ("N:V" on line 4.02), that the maximum monthly salary creditable be limited to $416.66 (line 4.03), and that overtime earnings (within the $416 limit) be included (line 4.04). Among the agencies which provide "Fixed Formula" benefits for miscel- laneous employees, only thre-, (Veterans Home of California #211, City of Calexico #244, and Sacramento-Yolo County Mosquito Abatement District #305) provide that prior service benefits be based on salaries during the three years preceding contract date. In such cases line 4.01 reads 113 pre-cont." and lines 4.02, 4.03, and 4 A must provide for current service benefits based on the 5-year salary aver- age (1}5K=' on 4.02) using gross compensation but excluding overtime. The remaining "Fixed Formula" contracts provide the same salary averaging period for prior service as for current service benefits. This may be either a three or a five-year period as indicated by 9H" or15 H" on lines 4.01 and 4.02. Regardless of their averaging period, such con- tracts must provide that benefits be based on gross compensation ex- clusive of overtime, thus line 4.03 will a1w?Lyv indicate the date on which gross compensation became effective. Possible amendment actions on this item vary considerably among the agencies. A basic formula change from "Money Value" to "Fixed Formula" will automatically include a charge to the three-year averaging period for both prior and current service benefits. The three "Fixed Formula" agencies whose prior service benefits are related to pre-contract salaries can change to the three-year Ret. Form 526-4 12/62 1000 , averaging period for both prior and current service after first securing an actuarial valuation. The remaining "Fixed Formula" agencies which have a five-year salary average can charge to the three- years basis without an actuarial valuation and with no change in mem- ber or agency contributions. 5.01 Lump sum benefit (for death after retirement) The entry here can be: None $300, or $hO0 The amount of this benefit is independent of any other provisions in a contract. Actuarial valuation is regsired as a preliminary to any amendment which would increase this provision. Member con- tributions are not affected. Group B consists of 4 items which are governed entirely by other provisions of the contract and can be changed only by amending such other provisions. 3.02 Percent for P/S In all except 3 contracts the entry here shows that benefits for prior service must be 100% of tha amount calculated under the formula shown on line 3.01. Those 3 agencies have reduced their prior service benefits to 75% of the line 3.01 formula because of special provisions relating to the disposition of pre-existing local systems. Thus no amendment action is indicated here. 3.03 Misc P/S improved to This entry applies to miscellaneous members only and appears ns "Age 65" in all contracts except those four noted below. The law permits no further actuarial improvement in prior service benefits beyond age 65. Four agencies (Emeryville #066, Veterans Home of California #211, Calexico #244, and Sacramento-Yolo Co. Mosquito Abatement District #305) have older contracts which limit the actuarial improvement for prior service to a maximum age of 60. In such contracts this item can be changed only by actuarial valuation and amendment to one of the modern fixed for . las. '3.10 Ordinary disability formula The entry here must be 1.5% in all cases where miscellaneous members are covered by the 1/60 or 1/90-1/60 formula. This means that any disability benefit for miscellaneous members or a non-service connected disability allowance for safety members is calculated at 1.5% of "final compensation" times years of service. Ret. Form 528-5 12/62 1000 If the contract provides safety member benefits only, or if miscellaneous members have 1/1LO-1/70 or 1/70 coverage, line 3.10 must specify a disability allowance equal to 1.28571% of "final compensation" times years of service. Regardless of the line 3.10 entry, members with 10 or more years of service qualify for the minimum guarantee upon disability retire- ment. This guarantee is 25% of "final compensation" subject to the limit specified or. line 3.11. 3.21 Disability limit (section) This entry specifies the section of the law which defines the maxi- mum allowance payable for ordinary disability. The reference is to Section 21297 if miscellaneous members are covered by the 1/90-1/60 or 1/60 formula, 2129B in all other cases. Those sections require that the disability allowance cannot exceed the service retirement benefit which would be paid at normal retirement age if the member could continue enployment to that age. The section number is followed by the letter "F" where this limiting calculation is to be msade under the full 1/70 or 1/60 fornrala, "fill when a modi- fied (1/140-1/70 or 1/90-1/60) formmla is to be used. Groff C consists of 14 items, each of which can either be included in or omitted from an agency's contract. They must either be accepted or rejected as they stand because the law permits no variations within any of these items. In all casas where one of these items is in- cluded, the date of such inclusion is indicated on F-556-s. 5.02 z continuance (212641 ) Applicable only to widows and minor children of present and future tafet.r member retirees. Provides that one-half of the retired member's allowance will continue to his surviving widow (or minor children, if no widow) until her death or remarriage if retire- ment was for service or industri.0 disability. Actuarial valuation is required prior to amendment. Member contribution rates are not affected. 6.03 '57 Survivor (21365.5) Provides an optional life income (in lieu of 6 months pay plus contribution refund) to the widow of a 20-;gear member who dies as an employee after attaining the minimum age for service retirement. An actuarial valuation is required for this amendment. Member contributions are not affected. 6.04 159 Survivor (21380-6) Applies only to members who are not covered by OASDI. Provides $90 per month for each eligible survivor (children under 1B, widows Ret. Form 528-6 12/62 1000 with shah children in their care; and widows 62 or older) up to $250 per family upon death of covered employee. No actuarial valuation is required. Each covered employee pays $2.00 per month (non-refundable) and agency pays $5.00 per month per covered employee until agency rate is adjusted by succeeding quadrennial revaluation. 6.05 Safety violent industrial (21364) Applies only to safety members. Provides a benefit in excess of the usual one-half pay where service-connected death is caused by external violenpe cc-i physical force and where survivors consist of rvi7dow with one or more children under 18. The additional benefit ranges from 12% of pay (if one child) to 25% of pay (if three or more children). Actuarial valuation is required. Member contribution rates are not affected. 7.01 C/S pre-nenbership (20804.5) Provides for crediting service rendered after contract date (on line 1.01) and prior to membership. Requires that members who elect this right must make up contributions based on salary and rates in effect prior to membership. No actuarial valuation required but agency must pay 0.200% of member payroll for this amendment. 7.03 Mil. ® agey cost (20894.5) Provides that agency bear full cost (including member share) of providing credit while member is absent in military service. No actuarial valuation is required. Agency cost will emerge as service gained by members is revealed at quadrennial revaluations. 7.04 PIS with 10 yr. CIS (20834.1) If a break of more than 3 years has intervened between a member's last service before contract date (line 1.01) and his initial SERS membership, his prior service cannot normally be credited. Amend- ment to include Section 20834.1 permits crediting of prior service in such situations provided the member is credited with at least ten years of current service (after the date on line 1.01) with the amending; agency. Member contributions are not affected and np actuarial valuation is required. Agency cost will emerge as service gained by members is revealed at quadrennial revaluations. 7.05 P/S wage other source (20839) Prior service (rendered before the date on line 1.01) not'hermally creditable because the compensation therefor was not paid by the amending agency can be credited under Section 20839 provided such service was performed under an officer of the amending agency. Member contributions are not affected and no actuarial valuation Is required. Agency cost will emerge as service gained by members is revealed at quadrennial revaluations. Ret. Torm 528-7 12/62 1000 TIE FOLL( UNG ITV'3 APPLY ONLY TO PERSONS WE0 ARE RETIRED W AMU-N T`UT LITE 8.01 To member formula (21251.3) Increases allowances to the amount Which would have been paid had all the existing contract provisions been in effect on the date of retirement. Actuarial valuation is required prior to amendment. 8.02 $100 min. guar. (21258.2) Applicable only to agencies which already have or are amending to the $100 minimum guarantee (line 3.05). Brings allowances of less than $100 to that figure where retirement was compulsory with prior service credit or occurred after age 60 with more than 20 years of service. Requires actuarial valuation before: amendment. 8.03 155 to pre-3 year average (21251.L) Provides increases ($15.00 to $25.00 for those with 20 or riore years of service) to members whose retirement allowance was based on a 5- year (instead of 3-year) salary average. Actuarial valuation is required prior to amendment. 8.04 157 to pre-7-2-56 retirements (21251.5) Members retired 7-1-56 and earlier receive an allowance increase of $10.00 plus a percentage (not more than 5%) of their present allow- ance. Actuarial valuation is required prior to amendment. 8.05 For 20834.1 service (20834.2) Applies only to contracts which include Section 20834 1. Permits retired members to receive prior service credit under Section 20834.1 (see discussion of item 7.04) and receive corresponding allowance increases. Actuarial valuation is required before amendment. 6.06 For 20839 service (20840) Applies only to contracts which include Section 20839. Permits retired members -to receive prior service credit under Section 20839 (see discussion of item 7.05) and receive corresponding allowance increases. Requires actuarial valuation prior to amendment. Ret. Form 528-8 12/62 1000 / ! i EMANATION OF COrdTUCT SMMRY F.rm 556-s (Rev. 8f62) his been designed to set forth all possible variations in contracts between the Retirement System and public agencies, the existence of any related OASDI (Social Security) benefits, and the dates of all contract amendments. Where a contract has been amended in order to coordinate State Employees' Retireme"i't System and OASDI benefits, the date of such amendment has been circled. Certain items on Forms 556-s pertain caly to the date or circumstances of initial SERS or OASDI coverage. T:�ose are numbered 1.0 through 1.05 on the form. Others show special provisions which apply only where a contracting agency has transferred its pre-existing local pension system to SEM. Thio group of entries appears on lines 2.0 through 2.03, 6.01, and 6.02. Except for the fact that SERS and OASDI benefits car. be extended to employees not pres- ently covered, an agency cannot amend its contract to change any item in Section 1.0 (coverage), 2.0 (local system), or lines 6.01 and 6.02. However, the governing body of each agency has some freedom of choice with respect to the remaining items. Those items are discussed in groups which are distinguished by the degree of choice afforded by the law. Group A consists of six items which define the basic benefits. Within each of these, va`y g levels are available and an agency can move from a lower to a higher benefit Within any such item. Those Cix items and their possible variations are: 3.01 Basic formula (for miscellaneous employees) l 140-1/70 FF* Provides a benefit for each year of service equal to 0.7 of 1 of the 1st $hOO of final compensation plus 1.4% of rerUaining compensation. Normal retirement age is 65 and benefits are actuarially reduced for earlier retirement to a minimum retirement age of 60. 1/70 FF Provides an age 65 benefit for each year of service equal to 1/70 1'17UTof final compensation. Minimum retirement age is 60 with actuarial reduction for retirement before 65. This formula provides about 213 as much service retirement allowance as the 1160 Fixed Formula and requires about 2/3 as much in the way of member contributions. IZ90-1160 FFi* Normal retirement age is 60 with a benefit for each year of service equal to 1.1% of the 1st $ 00 of final compensation plus 1 2/3 of remaining compensation. Actuarial reduction applies to retirement before 60 (mi.nimwn age is 55) and actuarial improvement to retirement after 60. 1/60 FF Provides an age 60 benefit for each year of service equal to 1/60 2 3' ) of final compensation with actuarially reduced benefits as early as age 55, actuarially improved benefits for retirement after 60, This is the highest benefit formula for miscellane_us members and pays approximately 50% more than the 1/70 Fixed Fori-mla. Restricted to groups corered by OASDI Note: In a few older contracts the initials 11I4V" are used instead of "FF". In such cases, current service benefits are not guaranteed (fixed formula) but are simply tha amount which can be provided by accumulated employee ccntributions plus retching agency funds. Ret. Form 528-1 12/62 1000 As a general rule any possible amendment action here depends on the combination of SERS formula and GISDI benefits as follows: Basic Formula Possible Change (line 3.01) 1/14o-1/70 FF (with OASDI) 1/70 FF or 1/90-1/60 FF 1/70 FF (with OASDI) i/90-1/60 FF 1/70 FF (without OASDI) 1/90-1/60 FF with OfASDI or 1/60 FF (*ithout OASDI) 1/90-1/60 FF (with OASDI) or No change 16 FF 1 Y 0 rr� (with OASDi) 1/70 FF or 1/90-1/60 FF 1/70 MV (without MSDI) 1/70 FF (with or without OASDI) or 1/90-1/60 FF (with OASDI) or 1/60 FF (without OASDI) i/fl) MV 1/60 FF Any change in this item will require an actuarial valuation. 3.01 Basic formula (for safety members) 11% at 60 Restricted by 1957 legislation to safety members covered by� Provides a temporary annuity to age 65 plus a life income. At normal retirement age (60) life income is 11 of final compensation times years of service. Benefit is actuarially reduced for early retirement to minimum age of 55, improved for retirement after 60. at 55 FF Applies to all safety members (except one-half at 60 M9 in Emeryville #066 and one-half at 55 MV is Calexico #244) who are not covered by OASDI. Benefit at 55 is 50% of final compensation for those with at least 20 years of continuous service to that age. Except for the possibility of charging the Emeryville and Calexico contracts to one-half at 55 FF, amendment action here is not advisable because the SERS formula for safety members is dependent on CASDI coverage action. 3.04 Minimum Retirement Age For miscellaneous members, this provision is governed entirely by the basic formula shown on line 3.01. Age 60 applies for all 1/140-1/70 and 1/70 contracts, age 55 for all 1/90-1/60 and 1/60 contracts. This item is variable only for safety members so that the mtniarim age normally used (55) can be reduced to 50. Where this applies however, the early retirement benefit is reduced to the actuarial equivalent of the normal benefit which would be paid at 55 (60 for 1%% contracts) for the same amount of service. Thus an amendment to provide this feature can be adopted without an actuarial valuation and with no change in member or agency contribution rates. For contracts so amended this item shows as 50 disc." Ret. Form 528-2 12/62 1000 r 3.05 Minimum Guarantee The entry here can be: None $4o $60, or $100 To a certain extent, the minirn m guarantee is governed by the basic formula shown on 3.01. Thus, the $40 minimum normally applies only to the 1/140-1/70 and older 1/70 contracts and then only to those who retire at the compulsory age (70 for miscellaneous or 65 for safety) with credit for prior sen ice. However, five 1/90-1/60 FF contracts provide a $40 minimun_. (Those are Bay Area Air Pollution and Control District #408, Yuba County #4 22, West Sacramento Sanitary District #434, City of Davis #437, and San Francisco City and County Redevelopment Agency #442) . Newer 1/70 contracts usually carry a $60 minimum. Normally, 1/90-1/60 and 1/60 contracts provide either the $60 or $100 minimum. The $cam guarantee operates when a 20 year member retires at 65 or older, the $100 when retirement occurs at *60 or later with 20 or more years of service. In each instance the guarantee applies to compulsory retirements with prior service credit. The amendment action which is possible here would depend on the basic formula as follows: Possible change (line 3.05) Basic formula (line 3.01) rom To V140-1/70 FF None $40 1/70 FF None $4o or $60 $40 $6o 1/90-1/60 FF None or $!i0 $60 or $100 $60 $100 1/60 FF phone or $40 $60 or $100 $60 $100 Actuarial valuation is required as a preliminary to amendment action. Member contribution rates are not affected. 3.06 through 3.09 Modification for OASDI These lines describe the modifications to SERS benefits which are permitted for coordination. with 01.SDI. The text specifies the level of compensation to which a modification (either 1/140 or 1/90) of the 1/70 or 1/60 formula applies, while the columnar entries specify the dates from which service is subject to the modified formula. Service prior to the date shown_ on line 3.06 produces a benefit calculated under the full 1/70 or 1/60 formula as the case may be. If the coltmn1r entry on line 3.06 is the word "e.mpl'mt" instead of a date, this means that the applicable modification (1/140 or 1/90) applies to all previously rendered service with that agency regardless of whether such previous service is current or prior service. Where the phrase "variable per rASDI" appears in the columnar space for lines 3.08 and 3.09, the level of compensation to which the modification applis,i will change automatically from the date, and in accordance with the amount, of any change in the OASDI coverr,1 wage. Ret. Form 526-3 12/62 1000 The amendment actions which are possible here depend on an agency's existing combination of SERS and OASDI benefits. For example, a 1/70 agency which does not have Social Security can simply add OASDI with- out a contract amendment to change its SERS benefits, or it can amend to either the 1/140-1/70 or 1/90-1/60 formulas concurrently with adoption of OASDI. On the other hand, 1/70 agencies which also have OASDI can amend only to the 1/90-1/60 formula and maintain a coordinated program. An agency which has the 1/60 formula can change to either the 1/70 or the 1/90-1/60 plan in connection with adoption of OASDI. An actuarial valuation must precede any such amendment. 4.0 Compensation average This section defines the "final compensation" used to calculate retire- ment allowances. For the few older contracts which provide "Money Value" benefits (instead of fixed formula), the entry on line 4.01 for prior service benefits will be 1'3 pre-cont." for miscellaneous employees to indicate that their prior service benefits are based on earnings during the three years preceding their SERS coverage date (line 1.01). In each such "Money Value" contract, prior service benefits for safety members are based on salary (of not more than $ 16.66 per month) during their five consecutive highest paid years. Also, the law requires that such contracts provide current service benefits on a H oney Value" basis ("MV" on line 4.02), that the maximum monthly salary creditable be limited to $416.66 (line 4.03), and that overtime earnings (within the $416 limit) be included (line 4.04). Among the agencies which provide "Fixed Formula" benefits for miscel- laneous employees, only thre� (Vetarans Home of California #211, City of Calexico #244, and Sacramento-Polo County Mosquito Abatement District #305) provide that prior service benefits be based on salaries during the three years preceding contract date. In such cases line 4.01 reads "3 pre-Cont." and lines 4.02, 4.03, and 4.04 must provide for current service benefits based on the 5-Year salary aver- age 0"5H" on 4.02) using gross compensation but excluding overtime. The remaining "Fixed Formula" contracts provide the same salary averaging period for prior service as for current service benefits. This may be either a three or a five-year period as indicated by "3H" or15 H" on lines h.01 and 4.02. Regardless of their averaging period, such con- tracts must provide that benefits be based on gross compensation ex- clusive of overtime, thus line 4.03 will alwxTs indicate the date on which gross compensation became effective. Possible amendment actions on this item vary considerably among the agencies. A basic formula change from "Money Value" to "Fixed Formula" will automatically include a charge to the three-year averaging period for both prior and current service benefits. The three "Fixed Formula" agencies whose prior service benefits are related to pre-contract salaries can change to the three-year Ret. Form 528-4 12/62 1000 M averaging period for both prior and current service after first securing an actuarial valuation. The remaining "Fixed Formula'' agencies which have a five-year salary average can change to the three- years basis without an actuarial valuation and with no change in mem- ber or agency contributions. 5.01 Lump sum benefit (for death after retirement) The entry here can be: None $300, or $400 The amount of this benefit is independent of any other provisions in a contract. Actuarial valuation is required as a preliminary to any amendment vhich would increase this provision. Member con- tributions are not affected. Group B consists of 4 items which are governed entirely by other provisions —"oT the contract and can be changed only by amending such other provisions. 3.02 Percent for P/S In all except 3 contracts the entry here shows that benefits for prior service 'mist be 100% of the amount calculated under the formula shown on line 3.01. Those 3 agencies have reduced their prior service benefits to 75% of the line 3.01 formula because of special provisions relating to the disposition of pre-existing local systems. Thus no amendment action is indicated here. 3.03 Misc P/S improved to This entry applies to miscellaneous members only and appears as "Age 6511 in all contracts except those four noted below. The law permits no further actuarial improvement in prior service benefits beyond age 65. Four agencies (Emeryville #066, Veterans Home of California #211, Calexico #244, and Sacramento-Yolo Co. Mosquito Abatement District #305) have older contracts which limit the actuarial improvement for prior service to a maximum are of 60. In such contracts this item can be changed only by actuarial valuation and amendment to one of the modern fixed formulas. '3.10 Ordinary disability formula The entry here must be 1.5% in all cases where miscellaneous members are covered by the 1/60 or 1/90-1160 formula. This means that any disability benefit for miscellareous members or a non-service connected disability allowance for safety members is calculated at 1.5% of "final compensation" times years of service. Ret. Form 528-5 12/62 1000 If the contract provides safety member benefits only, or if miscellaneous members have 1/10-1/70 or 1/70 coverage, line 3.10 must specify a disability allowance equal to 1.28571% of "final compensation" times years of service. Regardless of the line 3.10 entry, members with IO or more years of service qualify for the mininram guarantee upon disability retire- ment. This guarantee is 25% of "final compensation" subject to the limit specified on line 3.11. 3.21 Disability limit (section) This entry specifies the section of the law which defines the maxi- mum allowance payable for ordinary disability. The reference is to Section 21297 if miscellaneous members are covered by the 1/90-1/60 or 1/60 formula, 21298 in all other cases. Those sections require that the disability allowance cannot exceed the service retirement benefit which would be paid at normal retirement age if the member could continue erq)loyrrent to that age. The section number is followed by the letter "F" where this limiting calculation is to be made under the full 1/70 or 1/60 formula, "ll" when a modi- fied (1/14o-1/70 or 1/90-1/60) formula is to be used. Group C consists of 14 items, each of khich can either be included in or omitted from an agency's contract. They must either be accepted or rejected as they stand because the law permits no variations within any of these items. In all cases where one of these items is in- cluded, the date of such inclusicn is indicated on F-556-s. 5.02 J continuance (21264) Applicable only to widows and minor children of present and future safety member retirees. Provides that one-half of the retired member's allowance will continue to his surviving widow (or minor children, if no widow) until her death or remarriage if retire- ment was for service or industri" disability. Actuarial valuation is required prior to amendment. Member contribution rates are not affected. 6.03 157 Survivor (21365.5) Provides an optional life income (in lieu of 6 months pay plus- contribution refund) to the widow of a 20-year member who dies as an employee after attaining the minimum age for service retirement. An actuarial valuation is required for this amendment. Member contributions are not affected. 6.04 159 Survivor (21380-6) Applies only to members who are not covered by OASDI. Provides $90 per month for each eligible survivor (children under 18, widows Ret. Form 528-6 12/62 1000 with shah children in their taro} and widows 62 or older) up to $250 per family upon death of covered employee. No actuarial valuation is required. Each covered erployee pays $2.00 per month (non-refundable) and agency pays $5.00 per month per covered employee until agency rate is adjusted by succeeding quadrennial revaluation. 6.05 Safety violent industrial (21364) Applies only to safety members. Provides a benefit in excess of the usual one-half pay where service-connected death is caused by external violence co,4 physical force and where survivors consist of rvi7dow with one or more children under 18. The additional benefit ranges from 121% of pay (if one child) to 25% of pay (if three or more children). Actuarial valuation is required. Member contribution rates are not affected. 7.01 C/S pre-membership (20804.5) Provides for crediting service rendered after contract date (on line 1.01) and prior to membership. Requires that members who elect this right must make up contributions based on salary and rates in effect prior to membership. No actuarial valuation required but agency must pay 0.200% of meezer payroll for this amendment. 7.03 Mil. ® agey cost (20894.5) Provides that agency bear full cost (including member share) of providing credit while member is absent in military service. Vo actuarial valuation is required. Agency cost will emerge as service gained by members is revealed at quadrennial revaluations. 7.04 PIS with 10 yr. CIS (20834-1) If a break of more than 3 years has intervened between a members last service before contract date (line 1.01) and his initial SERS membership, his prior service cannot normally be credited. Amend- ment to include Section 20834.1 permits crediting of prior service in such situations provided the member is credited with at least ten years of current service (after the date on line 1.01) with the amending agency. Member contributions are not affected and np actuarial valuation is required. Agency cost will emerge as service gained by members is revealed at quadrennial revaluations. 7.05 P/S wage other source (20839) Prior service (rendered before the date cn line 1.-01) not normally creditable because the compensation therefor was not paid by the amending agency can be credited under Section 20839 provided such service was performed under an officer of the amending agency. Member contributions are not affected and nn actuarial valuation is required. Agency cost will emerge as service gained by members is revealed at quadrennial revaluations. Ret. Form 528-7 12/62 1000 r �/ lr✓ TiM FOLLCKJING ITE��,S APPLY Olh'LY TO FERSONS W140 ARE RETMSD 014 AMEIMKFKT DATE ,8.01 To member formula (21251.3) Increases allowances to the amount which would have been paid had all the existing contract provisions been in effect on the date of retirement. Actuarial valuation is required prior to amendment. 8.02 $100 min. guar. (21258.2) Applicable only to agencies which already have or are amending to the $100 minimum guarantee (line 3,05). Brings allowances of less than $100 to that figure where retirement was compulsory with prior service credit or occurred after age 60 with more: than 20 years of service. Requires actuarial valuation before. amendment. 8.03 '55 to pre-3 year average (21251.4) Provides increases ($15.00 to $25.co for those with 20 or more years of service) to members whose retirement allowance was based on a 5- year (instead of 3-year) salary average. Actuarial valuation is required prior to amendment. 8.04 '57 to pre-7-2-56 retirements (21251.5) Members retired 7-1-56 and earlier receive an allowance increase of $10.00 plus a percentage (not more than 5%) of their present allow- ance. Actuarial valuation is required prior to amendment. 8.05 For 20834.1 service (20834.2) Applies only to contracts which include Section 20834 1. Permits retired members to receive prior service credit under Section 20834.1 (see discussion of item 7.04) and receive corresponding allowance increases. Actuarial valuation is required before amendment. 8.06 For 20839 service (20840) Applies only to contracts which include Section 20839. Permits retired members to receive prior service credit under Section 20839 (see discussion of item 7.05) and receive corresponding allowance increases. P.equires actuarial valuation prior to amendment. Ret. Form 528-8 12/62 1000 r STATE OF CALIFORNIA BOARD OF ADMINISTRATION # r#t :zitpl rrl' �1- cfirruirrd ���,.'��#rxir 1227 G STREET SACRAMENT014 L,, PLEASE DIRECT YOUR R[PLY TO SECTIOIi December 3, 1962 REFER TO 1lEMEEA ACcouNT HUMRER._ _ _ C I TY OF HUNT IHC,To1I 97 BEACH P. 0. BOX 190 HUHTIKOTON BEACNPCALIF• ATTA• Jo L• HENRICK$Ek The Retirement Law requires an actuarial investigation and revaluation of the assets and liabilities of this System to be made at least every four years in order to determine whether any orange should be made in the contributions of the State and contracting agencies. Recognition of this requirement and agreement thereto Is specifically included in each agency's contract with the Retirement System. The last quadrennial revaluation was done as of June 30, 1958, and thus is required again as of June 30, 1062, on the basis of the benefits which are set forth in your agency's contract. The System has completed the investigation phase of this operation and has revised its actuarial tables to reflect current statewide experience including the July 11 1962, change to 4% (from 31,%) interest credit to all accounts. All other preliminary work has been done and ec:ployee data and specifleations for each agency's contract have been forwarded to the consulting actuaries who will accomplish the remaining calculations. It is necessary for your governing body to adapt the actuarial contract which is enclosed in quadruplicate in order that this work may proceed. Three copies of this contract should be executed as soon as possible and returned to State Employees' Retirement System Attention Section 23 Post Office Box 1953 Sacramento 14, California One copy will then be returned to you after it has been approved by our Doard. . The valuation to be completed under the enclosed agreement will be based on benefits nm; afforded your employees as described in the armly81S (Form 556-s) attached to the enclosed agreement. Mary agencies will leant to have additional special valuations In order to measure the cost of amending their Retirement System contracts to provide addi- tional benefits. The Law requires such a valuation whenever an amendment would require additional contributions of the agency. In order to arrange for the additional actuarial contracts for such special valuations we are enclosing two extra copies of our Contract Status Form 556-s with attached explanatory material Ret. Form 562-1(Rev. 11/62) 700 r -2- which shows the benefits possible in each item of the status form. A comparison of the status of your present contract with the tenefits which are possible will reveal those items which your agency might wish to have valued in order to change its Retirement System contract. If such special actuarial valuation is desired, please return the extra copy of Form 5 a ec mar cried explana ory =ter a Indica e w Icc items should b_e_val<ueo., We will then calc e the" actuar al f�ee-for csu h ork-and:Ffiturn actuarial contracts which your governing body would have to adopt if it then wishes to proceed with the special. valuation. Work on the special valuations will be deferred until the valuations regu- larly required have been completed so as to insure that agencies Will be advised of any changes necessary in their contribution rates in time for inclusion in their 1963-64 budget estimates. In order to help us meet the time table necessary to accomplish this we request that you return three executed copies of the enclosed actuarial contracts at the earliest possible date. r ��'XU;� C. RAICHT ACTUARY Bet. Form 562-2 (Rev. 11/62) 700 y �.� al ontract Status 'as of Ji962 for IMNTI113TON B % TYOF _ _Cade 97 Status re.eaze number �merded:l_y_c0' 3„1-52, 11-1-57., 20493 or 20580 effective. Not Annlicableklpha 1510 3­1-58, 10-1-61 a) b c d (-eF-- Miazellaneous Local Safety FIRE PaI,- LIFEGUARD 1.0 Coverage: • . 1.01 "tS since. . . . . . 10-1-h5 10-1-45 _ , 10-1-4 * 1.C2 WDI since (D-Div;, A-All) . No h o No 1.03 retro to. . . . . . . . _-- 1.04 .Former Group A re-enploy as 1.05 Refund retro OASDI adj. contr. ..__ 2.0 Local System, No f No 2.C1 Use age for contr. -rates. • 2.02 Employee contr. transferred 2.03 Retired lives transferred - f 3.0 Retirement Formula: - - 3.01 Basic Formula . . . . . . . . 155 FF 1 @ 55 EE 55 FF 3.02 Percent for P/S : 00 % 140,E 3.03 Hiss P/S improved to. . . . xxx XXXX 3.04 Minimum Retirement Age. . ' 3'.05 -.Minimum Guarantee . . . . . . ' 0 3.06 Mod 1st $ for OASDI from No No N ► 3.07 until • • • a a a a • • . a --_ _-r 3•08 thereafter let $ to. -_- _-_ 3.09 thereafter let $ to. 3.10 Ordinary disability formula % 1- 1~ 3.11 Disability limit (section). , 21227 F 21297 F 21297 F 2 207 r''• 4.0 Com ensation Avera e: 4.01 For PIS Benefits. . . . . . H 3 H 3 H 3 H 4.02 For C/S Benefits. . . .. . • • H H F 4.03 Gr. since (date) or $416 lim. - _ 0 -1- 0 1-1= 0 1- =11d,� 4.04 ' Include overtime. . . . .. . No No 110 No - 5.0 Post-retirement Death Benefits: 5.101 Lump Sum. . . shoo �0 L00 0 ZOO 5.02 1/2 continuance (21264) a XXXX F: 40 10 110 6.0 Pre-retirement Death Benefits: 6.01 Local System contr. credit . . 6.02 Vocal System sere. credit . . No ]so to 140 4.03 157 Survivor (21365.5) since. !:o - No :o INo 6.04 159 Survivor (21380-6) since. No No 1410 Ido 6.05 Safety violent induct. (21364) xxxx No - No jNo Entries below a 1 to all grouRs 7.0 necialService:- .0 Allowance Increases: 7.01 . CIS pre-membership (20804.5) 3-1-52 8.01 To member tormuli (21251.3). . _1_ 7.02 CIS @ non-cont. agcy. (20818) No 8.02 $100 min. guar. (21258.2). . . . No 7,03 Mil. @ agcy. cost (20894.5) No 8.03 155 to pre-3 yr. ave. (21251.4) • No '7.04 P/S with 10 yr, C/S - (20834.1) No 8.04 '57 to pre-7/2/56 ret. (21251,5). 7.05 , P/S .age other source (20839) No 8.05 For 20834.1 service (20834.2). . 110 8.06 For 20839 service (20840). No Exclusions & Remarks r.� =ffa�ti7s October 1, 1961 lifeguards on ocean beaches were reclassified as safety rierbers ittlth safety mar.:ber credit for all previous service. 1 EXHIBIT A 1 Ret. Form 556-s (Rev. 8/6, for HUNTI.NGTON BLi, CITY OF ritrac., Status as of j l962 Code 97 Amended- -- 20493 or 20580 effective Not ,pplicableAlpha 1510 (a) (b) (c) (d) (e) Miscellaneous Local Safety FIRE Pol.- LIFEGUARD 1 .0 Coverage: 1.01 SERS since. . . . . . . . . . 10-1-45 10-1-45 1 10-1-4.52', 1.02 OASDI since (D=Divi , A=All) . No 110 No No 1.03 retro to. . . . . . . . --- --- --- --- 1.04 Former Group A re-employ as XXXX XXXX 1.05 Refund retro OASDI adj. contr. --- --- --- 2.0 Local System. . . . . . . . . . No No No 140 2.01 Use age for contr. rates. . . --- 2.02 Employee contr. transferred --- --- --- 2.03 Retired lives transferred 3.0 Retirement Formula: 3.01 3asic Formula . . . . . . . . 1/60 FF 55 FF -Lk-55 FF @ 55 0 3.02 Percent for P/S . . . . . . . 130% 100% 100% loop 3.03 Misc. PIS improved to. . . . . Aae 65 XXX XXXX )CXXX 3.04 Minimum Retirement Age. . . . 3*05 - Minimum Guarantee . . . . . . . 860 360 ��'6!o o 3.06 Mod. lst $ for OASDI from No No No 3.07 until . . . . . . . . . . . --- 3.08 thereafter lst $ to. --- --- --- --- 3.09 thereafter lst $ to. --- --- 3.10 Ordinary disability formula 1.5% 3.11 Disability limit (section) . 21297 F 212 F 21297 F 21227 F 4.0 Compensation Average: 4.01 For P/S Benefits. . . . . . . 3 11 3 H 3 H 3 If 4.02 For C/S Benefits. . . .. . . . 3 H 3 H 3 H 3 ji 4.03 ur. since (date) or $416 lim. 1-1-50 1-1-To 1-1-55 1-1-50 4.04 Include overtime. . . . . . No No No 1\10 5.0 Post-retirement Death Benefits: 5.01 Lump Sum.. . . . . . . . . . $400 $400 Wo 5.02 1/2 continuance (21264) . . . XXXX 10 No 6.0 Pre-retirement Death Benefits: 6.01 Local System contr. credit 6.02 Local System serv. credit No No 40 6.03 '57 Survivor (21365.5) since, No No o 6.04 '59 Survivor (21380-6) since. No NO do No 6.05 Safety violent indust. (21364) XXXX No No No Entries below apply to all groups 7.0 -pecial Service: 8.0 Allowance Increases: 7.,01 C/S re-members e-Members Uiu- 080 3-1- 2 8.01 To member formula (21251-3) . - ' 8.02 $100 min. guar. (21:258.2) . . . . 140 7.03 Mil. @ agcy. cost (20894.5)--' No 8.03 '55 to pre-3 yr. ave. (21251.4) - ' No 7.04 P/S with 10 yr. CIS (20834.1) No 8A '57 to pre-7/2/56 ret. (21251.5) . ' No 7.05 P/S wage other source (20839) 10 8.05 For 20834.1 service (20834.2) . - No 8.06 For 20839 service (20840) . . . . No Exclusions & Remarks -11961 lifeguards on ocean beaches were reclassified as safety members :)E- c redit" for all previous service. Q. Ret. Form 556-s (Rev. 8/62) Cor.,ract_Status as of Julu 1962 for truNTINGIT01. 8: -_- CITY Or Code 97 Z7. , VP It • - -ram 5'.a rt, reieara nanbe: hmertded: - [r,. 20493 or 20580 effective Not Arnlicableulpha 1510 3••1-52, 11-1-57, � r 3.1-78, 1e-i-6l a b c d e Miscellaneous Local Safetz FIRE Pol.- rsr ;LIFEGUAp.D 1.0 Coverage: 1.01 SEH6 since. . . 10-1-45 10-1-45 10-1- * 1.02 OASDI since (D-Div,, A-All) no .No 1.03 retro to. . . . . . . . -- 1.OL Former Group A re-employ as - 1.05 Refund retro OASDI add, contr. 2.0 Local, System. . . . . . . . s-� No t No 2.01 Use age or contr. rates. . . 2.02 Employee contr. transferred . - --- 2.03 Retired lives transferred - 3.0 Retirement Formula: -- 3.01 basic Formula . . . . . . . . 1 aQ FF55 FF 0 5q FF 55 1 3.02 Percent for P/S . . . . . . % 00 100p 3.03 Miser P/S improved to. . . . . 3.04 Minimun Retirement Age. . . . 3:05- Minimum Guarantee . . . . . . ' 60 3.06 Mod 1st $ for OASDI from No No N 3.07 until . 3.C3 thereafter 1st.$ to. --- 3.09 thereafter 1st $ to. 3.10 Ordinary disability formula . 3.11 Disability limit (section). . 21227 F 21291 F 21297 F 21297 ' 4.0 Compensation Average: L.D For P S Benef its. . . . . . g 311 3 V 4.C2 For CIS Benefits. . . .. H 3 H H I:.G3 Gr. since (date) or $416 11m. _ 0 -1- 0 1-1�. 0 1-1-0 4.04 Include overtime. . . . . No do to No 5.0 Post-retirement Death Benefits: 5.01 Lump Sur:. . . . . .. . ShOQ 400 400 0a00 5.02 1/2- continuance (21264) - . . XXXX 40 jo I:o 6.0 Pre-retirement Death Benefits: 6.01 Local System contr, credit . 6.02 Local System serv. credit . INO No ,o Nc 6.03 157 Survivor (21365.5) since. I No No ;o I No 6.0h 159 Survivor (21380:•6) since. 1110 No vo ado 6.05 Safety violent indust. (21364) ' XXXX lNo No INO Entries below an 1Z to all groups .0 Special Service: d.O Allowance Increases: 7.01 G S pre-membership (20804.5) 3-1-52 \ 8.01 To member formuli (21251.3). -1- 7.02 CIS @ non-cont. agcy. (20816) To 8.02 $100 min. guar. (21258.2). . Tio 7.03 Mil. a agcy. cost (20894.5) No 6.03 155 to pre-3 yr. ave. (21251.4) No 7.04 P/S with 10 yr. CIS (20834.1) No .8.o4 157 to pre-7/2/56 ret. (21251.5). No 7.05 P/S wage other source t20539) No 8.05 For 20834.1 service (20834.2). No J1 8.06 For 20839 service (20840). . •. No Exclusions & Remarks *,effective October 1, 1961 lifeguards on ocean beaches were reclassified as safety members t�:i-it, safety manber credit for all previous service. Ret. Form 556-s (Rev. 8/62) 1 Contract Status as of July 1. 1962 for ITON-UNGTOU Fi?.ktr CITY OF Code 97 Statica x slt 9.a- rrwrle:� Amended:� _�0' 3„1_52, 11-1-57, 20�93 or 20580 effective Not AnnjlcableAlPha 15 10 b c d e miscellaneous Local Safety FIB Yol.- z LIFEGUAK 1.0 Coveraae: 1.01 Sr RS since. . . . . . . . . . 10-1-45 " 30-1-45 `10-1-1: 1.C2 QASDI since (D-Div;, A-All) d ho No 1.03 retro to. . . . . . . . - 1.04 Former Group A re-employ as �_ 1. t 05 Refund retro OASDI ad j. contr. - 2.0 Local System. . . . . . T No N NO 2.01 se age or contr. rates. . . 2.02 Employee contr. transferred - 2.03 Retired lives transferred . F 3.0 Retirement Formula: - 3.01 Basic Formula . . . . . . Q FF i ® © 55 FF 3.02 Percent for P/S . . . . . . 0 100A 3.03 Mist P/S improved to. . . . . 3.04 Minimum Retirement Age. . . . 3'.05- Minimum Guarantee . . . . 110 $ 0 = 3.06 Mod 1st $ for OASDI from No N T 3-0 until . . . . . 3.03 thereafter lst $ to. 3.09 thereafter 1st $ to. 3.10 Ordinary disability formula . 1. 1 % 3.11 Disability limit (section). _a297 F 212 F 2 2 F 21297 ,ram. 4.0 Compensation Average: 4.01 For P/S Benefits. . . H H H 3 H 4.02 For C/S Benefits. . . H H H ,4.03 Gr. since (date) or $416 lfm. _ 0 -1- 0 1-1�- 0 - 0 4.04 :Include overtime. . . . . . No No No !vo 5.J Post-retirement Death Benefits: 5.01 Lump Sum. . . . . . . ._ . 5 00 �e00 1�00 5s0u 5.02 1/2 continuance (21264) XXXX ya do P:e 6.0 Pre-retirement Death Benefits: 6.01 tocal 8ystem contr. credit --- 6.02 Local System serv. credit No No ao- INC 6.03 '57 Survivor (21365.5) since. No No No ,•:o 6.04 159 Survivor (21330-6) since. 140 jjo 6.05 Safety violent indust. (21364) 1XXKX No INO INC Entries below a- ply to all groups .O ecial ervice: .0 Allowance Increases: 7.01 C S pre-membership (20804-5) 3-1-52 8.01 To member formula (21251.3). - 7.02 CIS @ non-cont. agcy. (20818) too 8.02 $100 min. guar. (21258.2). . . . No 7.03 Mil. Q agey. cost (20594.5) ho 8.03 155 to pre-3 yr. ave. (21251.t�) ivTo 7.04 P/S with 10 yr. C/S (20834.1) No 8.04 157 to pre-7/2/56 r et. (21251.5). No 7.05 PIS wage other source (20839) No 8.05 For 20834.1 service (20834.2). . No 8.06 For 20839 service (2084o). No .Exclusions & R.emarKs Owtober 1. 1961 lifeguards on ocean beaches were reclassified as safety r.:erbe,;s with safety r rioea- credit for all previous service. CIOAract Status as of dull• A962 for HUNTIIvGTON B F'' -, CITY OF Code 97 �'•�Sta�Ls r*1e�a n�a.�be: Ar:ended: c, 20493 or 20580 effective • I-}-.�.. 3••1-52, ].1-•1-57� Not ApnlicableAlpha 1510 3,i-5$, 1G 1-bl a b c d e Miscellaneous Local Sa etv FIRE P01•` LIFMUARD 1.0 Coverage: 1.01 SEi3S since. . . 10-1-45 10-•1-45 in-1 J9 10-1-h5* 1.02 CASDI since (D=Div:, A-All) 110 lio N^ No 1.03 retro to. . . . . . . . -_ --- I „_- ..__ 1.04 Former Group A re-employ as XK 1.05 Refund retro OASDI adj. contr. 2.0 Local System. . . . . . . . . No No No tdo 2.01 Use age for contr. rates. . __- 2.02 Employee contr. transferred -_- 2.03 Retired lives transferred 3.0 Retirement Formula: 3.01 Basic Formula . . . . . . . 1 55 FF G- 55 FF 3.02 Percent for P/S . . . . . . 100 100%0 3.03 Mist P/S improved to. . . . K xxx 2= 3.04 Minimu.•n Retirement Age. . . . 3.05-- Minimum Guarantee . . . . . 60 "$0 a 3.06 Mod lst $ for OASDI from No No N 3.C7 until . . 3.03 thereafter lst $ to. 3.09 thereafter 1st $7 to. 3.10 Ordinary disability formula 1. 1~ 3.11 Disability limit (section). . 212QZ F 21297 F 21297 F 2 297 L.0 Compensation Avers e: 4.01 or t S Benefits. . . . . . H H H H 4.02 For C�S Benefits. - .. . . 3 H 3 H 3 H 4.03 Gr. since (date) or $416 lim. - 0 -1- 0 1-1� 0 1- - 0 4.04 Include overtime. . . . . . No to 1110 NO 5.0 Post-retirement Death Benefits: 5.01 Lump Sum. . . . .• . S400 400 400 BLOC 5.02 I/2 continuance (21264) Xxxx io :o Pie ,-6.0 Pre-retirement Death Benefits: 2:01 Local System contr. credit . . -- 02 Local System serv. credit . . No No :o Arc 6.03 '57 Survivor (21365.5) since. No No io 6.0L 159 Survivor (21380-6) since. do I No lio No 6.05 Safety violent indust. (21364) LXXXXNo I No 1140 Entries below-apply to all-groups 7.0 Special Service: 6.0 Allowance Increases: 7.01 C 5 pre-membership (20804-5) 3-1-52 8.01 To member formula (21251.3)• • . $.02 $100 min. guar. (21258.2). . . . No 7.03 hail. C agcy. cost (20894.5) No 6.03 155 to pre-3 yr. ave. (21251.4) Pio 7.04 P/S with 10 yr. CIS (20834.1) ho 8.04 157 to pre-7/2/56 ret. (21251.5). PIo 7.05 P/S wage other source (20839) No 8.05 For 20834.1 service (20834.2). . No 8.06 For 20839 service (20840). No .Exclusions & Remarks •F-affecti7e October 1, 1961 lif -•ueg ds an pbean�baaches were reclassified as safety members Vi.th safety r^omber credit for All1*evious `service. Ret. Form 556-s (Rev. 8/62) r • L litrac,.Status -!s of � 19b2 for , INNTINGT0:1 i3 )CITY OF - Code 97 f . mcrdec: 3'•i_525 i1-1-57, 20493 or 20580 effective Not ApplicableAlpha 151C L a b c (d) e) Miscellaneous Local Safety FIRE Pol.- "W LIFMJARD 1.0 Coverage* 1.01 S_iW since. . . 10-1-45 10-1-45 1 -I- -g� 10-1-45 1.02 CaSDI •since (D=Div;, A-All) 140 ro ho 1.C3 -retro to. . . . --- --- 1.04 Former Group A re-employ as AAAL XXXX 1.05 Refund retro OASDI adj. contr. 2.0 Local System. . . . . . . . . Na- No No 2.01 Use age for contr. rates. . . 2.02 . Employee contr. transferred . 2.03 Retired lives transferred 3.0 Petirement Formula: -- 3.01 Basic Formula . . . . . . . FF - 0 K FF 55 lr 3.02 Percent for P/S 00 100p 3.03 Miser P/S improved to. 100, XXX � .L 3.04 Minimu-n Retirement Age. 1 55 55 55 3105 - Minimum Guarantee . . . . y60 Z60 660 3.06 Ylod, 1st $ for OASDI from. No No N 3.07 until . . . • . . . . -- - -- 3.03 thereafter 1st $ to. 3.09 thereafter 1st $ to. 3.10 Ordinary disability formula . 1.5% Z. 1 5% 3.11 Disability limit (section). . 2L227 F 21297 F 21297 F 21Q7 h.O Compensation Avera e: 4.01 For ?IS Benefits. . . . . . . 3 3 11 3 H F 4.02 For CIS Benefits. . . .. . . H 3 H 13 H t: 4.03 Gr. since (date) or $416 lim. - - 0 -1- 0 1-1- 0 1-1-50 4.04 Include overtime. . . . . . No . 10 10 No 5.0 Post-retirement Death Benefits: 5.0; tirip Sum. . . . . . . . $hoo too %00 wL:^c 5.02 1/2 continuance (21264) . . . XXXX :o :10 6.0 Pre-retirement Death Benefits: 6.01 Local System contr. credit . . 6.02 Local System serv. credit . , No 140- ;o Xz- 6.C, '57 5urv_vcr (21365.5) sl;lue. I .No NO No 1;�:, 6.04' 159 Survivor (21380-6) since. 1110 1 No 110 1dc 6.05 Safety violent induct. (21364) XXXX No I No to Entries below an-21y to all Eroups 1.0 Srecial Sex-vice: b.0 Allowance Increases: 7.01 ffiC 5 pre-membership (208o4.5) 3-1-52 8.01 To member formula (21251.3)• • -i-5: 7.4? C f S 0 ron-c ont. agcy. (20818) No 8.02 $100 min. guar. (21258.2) . too 7.03 Mil. 0 agcy. cost (20894.5) No 8.03 '55 to pre-3 ave. (21251.4) rto 7.C4 P/S with 10 yr. C/S (20834.1) No 6.04 157 to pre-7/2 6 ret. (21251.5). Z;o 7.C5 P/S wage other source (20839) No 805 For 20834.1 service (20834.2). . No 6:06 For 20839 service (20840). . . . No Exclusions . , erra �s r �- tit �- �'��`i•-4 Oct' 01_ar I, 1961 lifeguards on ocean beaches vere reclassified as safety- re-iber s r%-r- saf-=,r r•=s.ber- credit for all previous service. Ret. Form 556-s (Rev. 8/62, Contract Status as of Julj. �1962 for ENNTII,�GTO;i B P CITY OF Code 97 . _. �,,,._.�� .. Status releo.aa nimber Amended: 1 [� 20493 or 20580 effective t Aonlicablek1ph 1510 I-� 3•-1-52, 11-1-57, 3-1-56, 10-1-61 �✓ a b c d e Miscellaneous Local Safety FIRE Pol.- LIFEGUARD 1.Q Coverage: 1.01 Fits since. . . . . . . . . . 10-1-45 10-1-L5 1 10-145* 1.02 OASDI since (D-Div:, A-All) +oNn No 1.03 retro to. . . . . . . . .. - --_ 1.04 Former Group A re-employ as XX22 Xxxx 1.05 Refund retro OASDI adj. contr. �- 2.0 Local Svstem. . . . . . No No No No 2.01 Use age for contr. rates. . . __ -- 2.02 Employee contr. transferred _ _ ---- 2.03 Retired lives transferred ..� --- 3:0 Retirement Formula: 3.01 Basic Formula i @ 55 FF 1 © c 55 Fr 3.02 Percent for P/S . . . . . . 00d 0 % 100A 3.03 Mist P/S improved to. . . . xxx XXXX )0 3.04 Minimum Retirement Age. . . . 3'.05 Minimum Guarantee . . . . . . . 86Q $60 "60 3.06 Mod. 1st $ for OASDI from N No No 10 3.07 until . . . . . . . . . . . . 3.03 thereafter 1st $ to. -.._ 3.09 thereafter 1st $ to. 3.10 Ordinary disability formula . 1. 1 1 rp 3.11 Disability limit (section). . 21297 F 212 F 21297 F 2 297 4.0 Compensation Averase: '�••+� 4.01 For P S Benef its. . . . . . . 3H H 3 H 3 H 4.02 For C/S Benefits. . . .. . . 3 H H H 4.03 Gr. since (date) or $416 lim. - - 0 •l- 0 1-1� 0 1-:- 0 4.04 Include overtime. . . . . . N 10 10 No 5.0 Post-retirement Death Benefits: 5.01 Lump Sum. Shoo 400 too Sa00 5.02 1/2 continuance (2126*4) XXxx 10 10 NO 6.0 Pre-retirement Death Benefits: 6.01 Local System contra credit . _ _-- 6.02 Local System serv. credit . No No [o No 6.03 '57 Survivor (21365.5) since. N0 Na ;o 140 6.04 159 Survivor (21380�6) since. no No 10 Na 6.05 Safety violent induct. (2136lt) XXXX No I No jNo Entries below apply to all grouRs .0 S ecial Service; d.0 Allowance Increases: 7.01 C S pre-membership (20804.5) 3-1-52 8.01 To member formula (21251.3). . . -1- 8.02 $100 min. guar. (21258.2). . . . No 7.03 Mil. 8 agcy. cost (20894.5) No 8.03 1S5 to pre-3 yn ave. (21251.4) . Ho 7.04 P/S with 10 yr. C/S (20834.1) ho 6.04 157 to pre-7/2/56 ret,. (21251.5). 1.o 7.05 P/S wage other source (20839) No 8.05 For 20834.1 service (20834.2). . No 8.06 For 20839 service (20840). . . . No .Exclusions & Remarks 4;e_'fecti7s October 1, 196i lifeguards on ocean beaches were reclassified as safety members ieth safety nanbcr credit for all previous service. Ret. Fora 556-s (Rev. 8/62; contract Status as of Jul- t�962 for rVA3'T�I�GT4�a 8�.�►� , CITY OF Code 97 Status relevae Wambe: A.iended:l-1-50. 3-1-52, 11-1-57, 20493 or 20580 effective Ut AnnlicableAlpha 15___ 10 3-1-58, 10 1-61 a h c d) e Miscellaneous Local Safety ` FIRE P01--kk2 LIFEGUARD 1.0 Coverage: 1.01 SMS s irce• . . . . . . 10-1-45 10-1-45 _ , 10-1451% 1.02 CASDI since (D=Div:, AwAll) . d 'o NO No 1.03 retro to. . . . . . . _-- I.OL Former Group A re-employ as xxxx 1.05 Refund retro OASDI adj. contr. 2.0 Local S stem. . . . . . . . . No N No 2.01 Use age for contr. rates. . . 2.C2 Employee contr. transferred . 2.03 Retired lives transferred ....- 3 X Retirement Formula: 3.01 Basic Formula . . . . . . . la 55 FF i ® rq 7F � 55 ' 3.02 Percent for P/S 100 00 100;7 3.03 Miss P/S improved to. . . . Aae 65 xxxax1u 3.C4 Minimum Retirement Age. . . . 3'.C5-- Minimum Guarantee . s60 0 *60 3.06 Mod 1st $ forOASDI from N No No e- 3.07 until . . 3.09 thereafter Ist $ to. -- 3.09 thereafter 1st $ to. 3.10 Ordinary disability formula 1.5% 1 I % 3.11 Disability limit (section). . 21297 F 21227 F 21297 F 121297 4.0 Compensation Avera e: L Ol Far P 5 Benefits. . . . . . H 3 H 3 H I H 4.02 For CIS Benefits. . . .. . . H 3 H N 3 H 4.03 Gr. since (date) or $416 lim. _ - 0 _1_ 0 1-1- 0 1_1_50 4.04 Include overtime. . . . . . No do No 5.0 Post-retirement Death Benefits: 5.01 Lummp Sum. . . . . . � o boo 400 whoo 5.02 1/2. continuance (21264) . . . xm do ]o 6.0 Pre-retirement Death Benefits: 6.01 Local System contra credit . . - 6.02 Local System serv. credit . . No No !o NC 6.03 157 Survivor (21365.5) since. No No !o t:a 6.04 159 Survivor (21380r6) since. 1.o No do Na 6.05 Safety violent indust. (21364) 1 XXXX lNo No No Entries below av 1 to all groups .0 Srecial Service: 6.0 Allowance Increases: 7.01 C 5 pre-membership (20804-5) 3-1-52 B.01 To member formula (21251.3). 8,02 $100 min. guar. (21258.2) . No 7.03 Mil. 9 agcy. cost (20894.5) No 8.03 155 to pre-3 yr. ave. (21251.4) No 7.04 P/S with 10 yr. C/S (20834.1) No 8.OL• 157 to pre-7/2/56 ret. (21251.5). No 7.05 P/S wage other source (20839) No 8.05 For 20834.1 service (20834.2). . No 8.06 For 20839 service (20840). No .Exclusions & remarks +sffec:i7e October I; 1961 lifeguards on ocean beaches were reclassified as safety nembers Frith safety r:c:ber credit for all previous service. Ret. Form 556-s (Rev. 8/62) January 109 1963 State Employees ' Retirement System l:'_`37 O Streets P. 0. Cox 23 ----- Sacramento 149 California Gentlemen: Enclosed herewith are three copies of actuarial contract Mch was approved by the Huntinrtun beech City Council at its regular meeting Held January 71 1963, and which have been executed by the proper city officials. Sincerely yours, 1 Paul C. Jones City Clerk FCJ:ed En c: 3 Final .lContract Members Basis Begpf�it;5 'Date of Safety • M � ki 1 • - • - 1��fr1r0�i©fE��l�irfiii0fi©iiifiii IQQL�I■1©■■■rl©®■4�■riff■■®I©/©©QI©r■ IoiQ,�l■lr©■rrir■■rrr!®rrRi■rr■rlrr■ E��IrlrDr■DI©rRr/■IRt■C�1ltQt■tl/■ . 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I�� •?�Irl■�!■rCl1■�!�!a■t�1F�■■C�lI[�r■■rl�■ 1�1R�i■t®■�■rl�lQ�■//1�!//®l�1Q■■■I/■ - = • - lo©�Irrrr®r©Irl�®rrl�!©rrRlrrrrrtr■ . lour�■!■I■©rr©I©r■lrrr!©rr®lrr■■rlr . - - iv��l�t©rrrnlc�m�ar/larrRlnrrrrl�lrr • • Ivy.�l�i®rrrrl©/■r■■!®■r■I/Q©■rl/■/ . - . - I�/'L�r� I■1■®/rEll/r�!■■DIr■rRl©rQ■■f/■ . . I�►�1rlQrrrrl�larrrrl®r■�Irrr■rl�l■ IClQL��Iritl�rr©Rlrttt/IQ■t■t■Q■■rl�Qr • - Ili'�L•��l�I����E�E���i���'.il���i�71�f�i��l+� ;Date � Final I 'Post het. . eneral ,Jeath Contract Members rVasis Benefits JIM : • ddd�• b b d I��l�ll■1/©■i®li■Di■�il�■■Li!■■/■■1Q■■ '• - i��i~• Ill■!]■■�!I©©■■■■1■■■©Ir■i■■I®■■ ICI■I■i■■■!■■/■■■1■■■■I■■■■■1//■ • . IQ•1,OL�lrli�J■■il®©r■©■1/■■®I�!■■■■li■■ IQlll��l�]I�■■■�!I©■■■■■I■r■ili■■■■!/i■ . . .. Im© Irl■�■■ !■■©■■r�l �■�!■■■��lI■■ . lv�L�L-�I■1/■■■■I©■■■■■I/■■illy©■■■i■/■ . - _ lvL�lt�l■I/■■■■1©©■©■■liriil■©■■■li■■ - . . - Iv�i��l■I/A■■■I©©■■■ili■■il©©Q©DI/■■r .. . 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" - lv��I■ Ott■el©er■■■I/■■�JI■■■■■1/■■� •• • - Ivo�.�li■le■e■©I®■■■e■l■eee!■■■eel©■e■e •• - I��L•T.�ii■I■©e■�!I■■©e■t�l/■■/lF!■t�/ei�■e■� 1����r11■i©r■■■1®®e//e1/■■ l/■1�■DI/■■ -.. .. : -- !D©L.�i■feC]ee�ll©©e■/■I/■e/1/■©eels■■� • -. ... 1�L�!/l©teea■1©■■■■■1/■e�lile/E!■I/■e■�■■ . 11J����lei■■®■E�1■/Dee©1/■e�i■/■■■l©■■� �� rr� iDaSafety te of Contract 1' .- eeeo � : • • • Ivrlo��t��r�©©rrr�l©r��Er��t��0r■ . - iva,�it�rrrorror©rtrrrrrr�foirtrrrirQ■ '• - i�L��i■I■■/Elfllit3irrr■1G!■■L�i////■It�r■ I�rl©��I�IrL�/�S�rQ///tr1/©/L�ir///rl/0■ - lv��irl■©rrQlt■©r■©l©rtai©rl�rrlQr■ :- . . i©,Qt�rutlarrrrtQ©rtrtiarrlaltttr©lrQ■ . ivoic>�■�lrlr©rr©Ia©rrrri©rro�rrrrrl©rr . . - im��lrlQrrrQr©©rl�rrl®�rr�lrrrrrlQt/ - imQ�ii�rQ■rrtltrtr�rrfQtrv�rrtrrf©rr • ifflR�l■IOrr/rl �ttrri©�roirrrrrr©/■ - - . . iQ©1.�rirl©rrralrr�rQfrrlQrrofrr©�f©fQr■ - - •. .. if�71���1■i©■r■rl©■///■i©/■Of/©t/ri/E3■ • l�clQ��lrlQ�r�rlQ�ir�erl©rtC•Ilr�trri0�■ -. iv©���rrorror©rrrrrl©rra�©�lrr�Qr■ •. . . i itrlrr©■©frr©trri�arroirr/�ri©r■ - �f��tl�f■■r�Q�rr�sr■©iQrrorr�irrrfQr■ ���I�IQ//rtrl�t�rrrri©trr�i©tnr�ritr■ " :. .. : i : ItrQrrrrlc��• =�'ti®tool®rrrriQr■ - 1�t�i•f/©rrt31©�#■r/ri©r/flffla©/■1�3ii 1 ' � ltl//©r©l4�'■■nrti©tr0it■I�rriQrr • I " : INIIQ■rrtiLrrrr/I�lr/Di■t■■rle�/■ . 11r7�14=lltl�■r■■I/�/■■/i®■■i�f■tr�rrrQ/■ - I��L.�I�r�3rr�rll�rrs/rlE�r/0!/�!r//iQr■ IVQ��Irrrrr©©Ir/�i/r®1®ttC�li///r/i©r■ irlrirtr�lrrtrrrirrrritrroritr■ - •- - iic1QL•�I�I■®r■®IC�3�'+T7rf®troftirotfQr■ - - niF7,Q•• IttrirQrQlrrl�rr®I�f/rt�itt//tfQr■ -. : -. iila'��:!!/r//I�Q©Ir/�!/r®!Q/rill/r/rQiQr■ Irlt�3rrrrlt/rrr■1Qtroirrr■rlQr■ - .. .. �,�rirlrrrr©I�Ir©rr®�©rraiarrrr�®r■ M!M - �►�iltrrrr®©Irt®rr©I©rroitrrrrf©r■ _ - • :Nvo�i■Irr■®Qlrrrr■®i©traiarrtti�rr■ RON 'E7,�Ili�l®�///IE�fl/�lit13//ill/////f©�■ • L�Sl�f�rrrrr '+fl/rrrlQ/rQl�r©t©i/©■ 1�l�rrrri�rtr/tfrrrritrtrtl�/■ • • i :11 1 •. Date of • • General Death Contract Members Basis IBen efits ! ee AM .. • = - Imo,owl■I■II■v■■�rl©■■■t■r�r■■�rl■■■■■ra■■■■ . I177�r1R�■IrfiO■tail©�3■■■tr�■til©©■t■�i■■■■■ Tulare- Ukiah - = IFl�E�IrIE " E��vlt�■■■■titQ■31■■�■■r�!�■� = l �I�Q►��I�IE�E���I■■�■■fir■■■il■■■■■r■i■� ��IL1,0�l�IEr�E��vl©■■■■iriti�Jl■■■■t1■■tom 1 I■f■■■t■I■■■■■■r■■■■I■■■■■l■■■� _ . Iv�ir•�■I■II■r©■©I■■©a■©ra■■�I©■a■■r�l■■■■ I I■fife■tall■■E3■■�srr■■■It3■E�■■hi■■� Upland It;lDL2�■!■IO■■■■If3■■■■■I�■■�I©©�■■r■©■� NallejoVerno I�rv�s�l■rlt©a■©�Qat■■tr►�t■■�rl�a■t■ta■a■ Ventura Iv©, rl■lalr■■tlo©■■■■r■■■©I■a■■■rl■■■■i visalla Vista Imo • I■I■■ ■f�l■■■■■rre�■■�I■■■■■r►�■■■■ IvoLl�l■IE�■■t■IQ■■■■■r�l■svlt�■■■■r ■■�■ i I/l■■■ttl■t■■■■r■r■■ta■■a■ra■■■■ Watsonville 11�] ►L1�1■Oti©1�©i■ti�i■■01■�t�■■1 ■■i --Ve—edCity1DOL•�■ICI■■■©ail■■©■■i1i■■�1©■f3i■l�tt� Whittier 4�©L��irl©■■■■I®©■■r■r ■■�J1■�3■■■lit■� Willows, Ivi■ri■II■©■■©I■■©■■©r�■■�lar�■■■rr�■■r Woodland Iv©gal■I©■■r■I©©■t■■r�■■�Ir■■©©■ra■■■t ICI■■■■■[■ r■■■r■■■■i■■■■�1■■■� Yuba CimSam I■I■■©rari�©aaorl■a�r�ia■aa1� a■■■ I i■I■Ir■■■I■r�l■■■r■■■■f■■■■■I■■■■r■ 1 t STUYZAIRY OF CONTFLA" TI:LG AG:.'NG -�-NEFI TS Cities SP-ZCIAL MOTES 1. Firemen excluded. 2. Policemen excluded. 3. 1/2 Par at Ppe 60; safety-money value. 4. Final comp. basic indicated for Calexico applies only to miscellaneous members. Prior service benefits for safety members are based on 5 highest years (gross salaries) and current service benefits are "money value". 5. Prior service benefits for Emeryville miscellaneous members based on 3 pre-contract years and for safety members, on 5 highest years. Current Service benefits for miscellaneous and safety members are "money valuer'. 6. Firemen and policemen hired before 10/16/64 are covered under locsl system. "S" Applicable to safety members only. Effective dates of coverage: City Miscellaneous Safety Antioch 7/1/59 7/1/50 Belmont 8/1/60 4/1/59 Brisbane 2/l/65 Fire. 12/1/60 Police. 2/l/65 Carlsbad 7/1/57 1/1/56 Claremont 7/l/55 3/1/62 Daly City 8/1/46 Fire. 1/1/52 Police.8/1/46 El Segundo 10/l/43 Fire. ll/l/h7 Police.10/1 43 Glendora 6/l/62 311156 Los Altos . 8/1/6h Fire. 11/1/49 Police.7/1/60 Millbrae 7/1/64 Fire. 7/1/50 Police.11/1/54 ]Modesto 1211150 8/1/46 Oxnard 3/l/57 2/l/52 Richmond 1/1/54 10/16/64 San Carlos 10/1/0 Fire. 7/l/L6 Police.10/l/43 San P.af'ae1 7/1/57 12/1/57 Seaside 1/l/57 Fire. 7/l/56 Police.1/1/57 Stockton 9/11hh 7/lA8 Tracy 1/l/60 10/1/L8 Vista 1/l/64 Fire. 9/1/60 Police.1/1/64 Ret. Form 123L-7 (Cities) Rev. 2/65 CONTRACT OF CITY OF HUNTINGTON BEACH -.. WITH THE STATE EMPLOYEES RETIREM2NT SYSTEM FOR MAKING A VALUATION AS STATED HERE—IdT By this AGREENEVT made this day of , 19 G , in accordance with and subject to th provisions of the State Employees' Retirement Law, by and between the CITY COUNCIL of the CITY OF HU3TIHGTO"; BEACH hereinafter referred to as Agency, and the State Employees' Retirement System here- inafter referred to as System, Agency and System agree as follows: i A. Agency herewith retains the services of System. to perform, as of the valuation required by Section 20461.1 of th.a State Employees' Retirement Law for the purpose of determination by the Board of Administration of the State Employees' Retirement System of the contributions to be made by Agency under Agency's contract with said Board if the benefits under said contract,' described in the attached Exhibit A, are changed as follows: Change item (s) 8-03P B.M and 8.07 from the description in Exhibit A to the description in the attached Exhibit B. B. Agency will pay $ * to System upon completion of the valuation, such fee being based on the number of persons and aambership categories involved. C. Any and all data and information requcsted by System from Agency for use in compilation of this valuation shall be furnished to System by Agency upon request by System. The actuarial tables and procedures to be used in the valuation shall be in accordance with the tables approved by eaid Board of Administration. System shall have sole control of the valuation and its judgment in the determination thereof shall be final and conclusive. All work sheets and final results and reports, the product of the valuation, shall be and regain the property of the System. Y Witness our hands the day and year first above written. STATE EMPLOYEES' RETIREMENT SYSTEM CITY OF HUNTISGTON BEACH BY IV t� t sL_ _ _ �+ William E. FaynY, Rec ive Of-flcer *FEE not to exceed V-00 per retired member. U Amendment Ret. Fo.� 424-A SERS (3/65) 500 . � J .. �- . City of. Huntington Beach Califcmtiu . cTt- 0 I U/ Juno 7, 1960 t4 Mr. Alfred J. Parker 1012 13untington Avenue Huntington 13eacht California Dear Sir: In the past few weeks the City Council has considered the petition presented by you and Aigned by several other retired employees requesting an amendment to tho City Retirement Contract to allow an increase in the pension amount. At their regular meeting held June 4, 196201 the Council denied the request as tieing contrary to good policy in municipal management. Sincerely yours, Paul C. JAAnos City Cicrk PCJsed Retirement Allowances, Continued 4. Provides that "2% at age 50" retirement allowance formula and related member contribution rate may be extended - semen, local firemen or lifeguards separatel (Ch. 1407 - AB 1261) 5. Provides a "1/50th at age 60" formula for local miscellaneous mar r77 the System at the option of the employing contracting agency. Ch. 767 - SB 685) Death Benefits 1. Provides for payment of certain death benefits to specified survivors if a member's designation is not in effect at time of death and for voiding designations upon subse4uent marriage, dissolution or annulment of marriage or birth or adoption of a child. (Ch. 568 - AB 1524) 2. Provides one-half continuance allow al miscellaneous members at option of contracting agency, (Ch. 150 - SB ' , Effective 6/l/70) 3. Permits a contracting agency to extend o - + ance allowance separately to policeman and firemen. Ch. 719 - AB 20$0, festive 8/13/70) SCCIAL SECURITY 1. Defines "warden aembers" of the Public E3ployees' Retirement System as policemen for Social Security coverage purposes and removes retirement allowance and member contribution rate modifications coordinating with Social Security coverage. Contingent on Federal acceptance. (Ch. 1626 - AB 1150) 2. Definition of "policeman" for Social Security purposes amended to include law enforcement members of the Public Employees' Retirement System employed by the Bureaus of Criminal Identification and Investigation, Narcotic Enforce- ment and Criminal Enforcement of the Department of Justice. Contingent on Federal acceptance. (Ch. 708 - AB 1924) PM=- -CEDDES I. Increases maximum employer contribution to health benefits plans from $8, according to schedule increasing $2 per month each fiscal year, to $16 in Fiscal Year 1973-74. Provides for reimbursement of State funds for increase in Fiscal Year 1970-71 from State contributions in State Employees' Contin- gency Reserve Fund. (Ch. 212 - AB 356, Effective 6/17/70, Operative 7/1/7o) 2. Permits use of employment in Which contribution was made by employer to another plan,to meet six months employment requirement for commencement of employer contribution. (Ch. 11?7 - AB 1616) -3- } Mayers-Geddes, Continued 3. Authorizes Board to contract for comprehensive plans without limiting such plans to persons also enrolled in basic plans, and to fix notice required for termination of contract participation. (Ch. 356 - AB 2051) 4. Removes ineligibility for enrollment in health benefits plans contracted for or approved by the Board, of State employees vho elect enrollment in out-of-state plans. (Ch. 1052 - SB 435) 5. Permits contracting agency to fix its contributions to cost of health benefits pl hat it is not less than the amount specified in the Act. Ch- 724 - SB 9/30/70 -4- STATE OF CALIFORNIA—BOARD OF ADMINISTRATIOM RONALD REAGAN, Goritrnor PUBLIC`E P - YEES' RETIREMENT SYSTEM 1416 ���jj14..� 7REF � / 1939 ' $A +MEl410, tl*NP- S,r n CCF��F • C/ , Mags Direct Yowr Reply to Section '�°Pk r9T0 .- September 21, 1970 pERgO/yr �FpT tpjy N Roper to M.rnber Account Number ALL DEPARTMINTS AND AGENCIES !E ITY OF CALIFORNIA NISTRATIVE AND PERSONNEL OFFICERS OF ALL CONTRACTING PUBLIC AGENCIES SUBJECT: STATUTORY BEINEFICIARIES - CHAPTER 5650 STATUTES OF 1970 (A.B. 1524) This bill will become operative as law on or about November 22, 1970. It may have an important effect on some of your employees. Please read the following Information carefull . We will cover these points: A. Statutory beneficiaries have been established for members; Be Individual notices are being sent to each member explaining the effect of t!ds law change and what action, if ang, is required; C. This amendment will result in procedural changes. The law changes provide that if a member of P.E.R.S. was either (a) married, (b) obtained a dissolution or annulment of his marriage or (c) acquired a child by birth or adoption, at an time after he last filed a beneficiary desiEnation with the Systemv that designation is automatically revoked and the following survivors will become his "statutory beneficiaries" in the order stated: 1. The member's spouse; 2. If no spouse, the member's children (children of a deceased child of the Member to receive such childls share); 3. If no spouse or children, the member's parents; 4. If none of the above, any lump-sum death benefit which is payable, will be paid to the member's estate. The revocation will occur as of the effective date of legislation if such an event has occurred prior to that date. Revocation because of any such event occurring thereafter will be on the date the event occurs. The System has prepared a brief informational notice to be given to each of your employees who are members of P.E.R.S. when the Members' Annual Statements are delivered to each agency around October 1, 1970. Since this type of information is not always readily understood by all of our members, we would like to provide you, their employers, with advance notice so that you may give them some assistance, if necessary. It is important for both present and new members to understand that if the statutory beneficiary designations contained in the new legislation are the designations that the member would wish, then he does not have to file beneficiary designations or continuously update them because of marriage,, birth or adoption of children, or dissolution or annulment of marriage. -2- too action Is required by any member if -- - The "statutory beneficiaries" (1, 2, 3 or 4 preceding) are those he (or she) wishes to receive the lump-sun death benefit should death occur before retirement; or - Other beneficiaries have already been named and no event enumerated in a, b and c preceding has occurred since he (or she) last filed a beneficiary designation with the System., It is also important for present members to know that if he or she has experienced any of the events listed under (a), (b) or (c) in. the second paragraph preceding since the last time a_beneficiary designation Was filed vith P.E.R.S_, and the member Wants to designate beneficiaries different) than the "statutory beneficiaries". he must file another Form 241 Chanee_of Beneficiary) now and each time such an event occurs hereafter. Present su plies of Form 241 MM be used. You will be given notice later of ___-_-_—.the_availability-of- a_revised_Form 241. _ - Employees becoming members after the effective date of the legislation need : not designate beneficiaries and should be encouraged not to do so if the beneficiaries they wish to receive the benefit are the same as the statutory beneficiaries. They have the right to designate other beneficiaries if they wish to do so. The enactment of this provision of law will result in major procedural changes and revision of forms used by State and contracting Public Agencies to report new members and provide beneficiary designations. It is planned that by December 1, 19709 the necessary Public Agency Yanual amendments together with a supply of new forms will be made available to the contracting Public Agencies. By January 1, 1971s the new procedures will be provided to State Employers. Until such time, your present procedures and forms should be continued for new members. �C�� E. PAYRE, E CUTIV CM—CER KM:mv 4 woo TO: Mr. William E. Payne, Executive Officer Public Employees' Retirement System P. 0. Pox 1953 Sacramento, California 95809 CERTIFICATE OF =TION OFr ICER I hereby certify that on or before December 1, 1969, I delivered or caused to be delivered personally, or mailed or caused to be wiled to the last hnoum address, an official ballot and return envelope for the election to fi'l the office of Member of the Board of Administration, Public Employees' Retirement System, from the membership of the System, to each person appearing as a System membe duri gjthe ma th of September, 1969, on the payron records of (Vafe of Agency I further certify that all ballots and election.mailing envelopes unused, or returned unclaimed,, have bs-n destroyed. Date , 3.969 w. (Election Officer for Election of Board Member) Al Name f ency (Agency Code N=ber for Retirement System Purposes) Prepare in duplicate. Transmit completed origingl to F-:ttrement System after delivery of the ballots: I,r , -'i � f �4 Bet. Form 191-11 (10/69)_2000 Cort Zct Status as of for h"'UNTINGTON B3k' 7 0: Code Status release number Amended: 20493 or 20580 effective Alpha a b c d e Miscellaneous oca a etY . Fire. Pol.-CPU 1.0 Coverage: 1.01Sinc e. . . . . . . • 1.02 OASDI since (D=Div., A=All) . 1.03 retro to. . . . . . . . 1.04 Farmer Group A re-employ as . 1.05 Refund retro OASDI adj. contr. 2.0 Local System. . . . . . . . 2.01 U3e age for contr. rates. . . 2.02 Employee contr. transferred 2.03 Retired lives transferred . 3.0 Retirement Formula: 3.01 Basic Formula . . . . . . . 3.02 Percent for P/S . . . . . . 3.03 Misc. P/S improved to. . . . . 3.04 Minimum Retirement Age. . . . 3•.05-- Minimum Guarantee . . . . . 3.06 Mod 1st $ for OASDI from 3.07 until . . . . 3.08 thereafter lst.$ to. 3.09 thereafter 1st $ to. 3.10 Ordinary disability f orr.ula . 3.11 Disability limit. (section). . 4.0 Compensation Average: 4.01 . For PIS Benefits. . . . . . . 4.02 For C/S Benefits. . . .. . . . 4.03 Gr. since (date) L.04 Include overtime. . . . 5.0 Post-retirement Death Benefits; 5.01 : MTP sure. . . . . . . . . 5.02 1/2. continuance (21264) 6.0 Pre-retirement Death Benefits: 6.01 Local. ystem contr. credit . . 6.02 Local System sere, credit . . 6.03 '57 Survivor (21365.5) since. 6.04 159 Survivor (21380-7) since. $xt?SxxS�etlrsxf oYent xfadxat.�c(�:�: Entries Te low apply to all groups .0 Special Service: .0 Allowance Increases: 7.01 C a pre-membership (20804.5) 8.01 To member formula (21251.35) . 7.02 C/S Q non-cont. agey. (20818) 8.02 $100 min. guar. (21253.2). . . 7.03 Mil. @ agcy. cost (20894.5) 8.03 155 to pre-3 yr, ave. (21251.4) Yes 7.04 P/S with 10 yr. C/S (20834.1) 8.04 157 to pre-7/2/56 ret. (21251.5). Yes 7.05 P/S wage other source (20839) 8.05 For 20834.1 service (20834.2). . 8.06 For 20839 service (20840). . 8.07 163 to re-1-1-62 Yet (21251.6)e Yes Exclusions & Remarks ; EXHIBIT B Ret. Form 556-s (Rev.E8/: _) MEMORANDUM TO: City Council FROT : City Administrator DATE: April4, 1968 Retirement benefits are on a fixed dollar amount. We have had requests from several former employees who retired rior to 1962 for an adjustment in their retirement benefits. ( retired police officer receives $118 per month.) It is our feeling that an actuarial study should be condu-ted to determine what this adjusted schedule would cost the city. The study itself would be performed by the State Employees' Retirement System and would cost approximately $29. It is our feeling that the study should be made and if the Council approves, we recommend that the Mayor and City Clerk be authorized to execute the agreement. 0 y e City dminiistrator ) , Y STATE OF CALIFORNIA—SOARD OF ADMINISTRATION RONALD REAGAN,Governor STATE EMPLOYEES' RETIREMENT SYSTEM , 1416 N;NTH STREET, P.O. SOX 1953 SACRAMENTO,CALIFORNIA 95" Reply to Sec. 23 Please Direct Your Reply to Seefion Refer to Member Attovef Number April 2h, 1967 City of Huntington Beach #0097 The regular quadrennial valuation conducted as of June 30, 1966 has been completed. It may be that your agency will want special valuations to determine the cost to the agency if its contract is amended in certain respects. Valuations are required before the contract can be amended whenever an amendment would require additional contributions of the agency. The other steps required by law are essentially those which led to original participation, including a vote among the employees if the amendments cause an increase in their rates of contribution. In erder to arrange for the actuarial contracts for such special valuations we are enclosing two copies of our Contract Status Form 556-s with attached explanatory material which indicates specific benefit changes possible. A comparison -of the status of your present contract with the benefits which are available will reveal those items which your agency might wish to have valued in order to change its Retirement System contract. If such special actuarial valuation is desired, please return the extra copy of Form 556-s with a check mark on the attached explanatory material to indicate which items should be valued. Ile will then calculate the actuarial fee for such work and return actuarial contracts which your governing body would have to adopt if it then wishes to proceed with the special valuation. KISUK ONG ACTUARY encl. EXPUMATION of COIMRACT Ma4ARY (FORM 556-s) Form 556-s has been designed to provide a sumwary of the contract provisions between the Retirement System and a public agency, the existence of any related Social Security benefits., and the dates of all contract amendments. Where a contract has been amended in order to coordinate Retirement System and Social Security benefits, the date of such amendment has been circled. Certain items on Form 556-s pertain only to the date or circumstances of Initial Retirement System or Social Security coverage. Those are numbered •1.0 through 1.05 on the form. Others shoo special provisions which apply only where a contracting agency has transferred its pre-existing local pension system to the Retirement System. This group of entries appears on lines 2.0 through 2.03, 6.01, and 6.02. Except for the fact that Retirement System and Social Security benefits can be extended, to employees not presently covered, an agency cannot amend its contract to change any item in Section 1.0 (coverage) 2.0 (local system), or lines 6.01 and 6.02. However, the governing body of each agency was some freedom of choice with respect to the remaining items. Those Items are discussed in groups which are distinguished by the degree of choice afforded by the law. Gro. ur A consists of eight items which define the basic benefits. Within each of these, varying levels are available and an agency can move from a lower to a higher benefit tiaith- in any such item. Those six items and their possible variations are: 3.01 Basic formula (for miscellaneous employees). A basic change would require employees' election. 1. 1 140-1 0 Provides a benefit for each year of service equal-to 0.7 of 1 of the lst $400 of final compensation plus 1.4% of remaining compen- sation. Normal retirement age is 65 and benefits are actuarially reduced for earlier retirement to a m n11 retirement age of 60. Formula restricted to groups covered by Social Security (could change to 2, 3 or 4). 2. 1 0 Provides an age 65 benefit for each year of service equal to 1/70 1. %) of final compensation. Minimum retirement age is 60 with actuarial reduction for retirement before 65. This formula provides about 2/3 as much service retirement allowance as the 1/60 Fixed Formula and requires about 2/3 as much in the way of member contributions. ' (could change to 3or4). 3. 1 90-1/60 Normal retirement age is 60 with a benefit for each year of service equal to 1.1% of the lst $400 of final compensation plus 1-2/3% of remaining compensation. Actuarial reduction applies to retirement before 60 (minimum age is 55) and actuarial improvement to retirement age 65. Formula restricted to groups covered by Social Security (could change to 4). Ret. Form 52&1- (Rev. 4/67) 1::. 4. 1160 Provides an age 60 benefit for each year of service equal to 1/60 1-213p) of final compensation with actuarially reduced benefits as early as age 55, actuarially improved benefits to retirement age 65. This is the highest benefit formula for miscellaneous members and pays approxi- mately 50% more than the 1/70 Fixed Formula. (No change except coordination with Social Security under 1/go-1/60. ) .5. 11 at 60 Restricted by 1957 legislation to safety members covered by Social Security. Provides a temporary annuity to age 6 plus a life income. At normal retirement age (60) life income is 11,% of final compensation times years of service. Benefit is actuarially reduced for early retirement to minimum age of 55, improved for retirement after 60. Not available to contracting agencies after October 1, 1965. (Could change to 6, 7 or 8). 6. . One-half-Pay-at 55 Benefit Is one-half of final compensation for those wha retire with 20 years of service at age 55 or over, with additional benefits for service after normal retirement. 7. Modified One-Half Pay at 55 This benefit is a modification of the one- half ;ay at 55 formula because of coordination with Social Security. 8. One-half Fay at Age 50. Benefit is 50% of final compensation for those who retire with 20 years of service at age 50 or over, with additional benefits for service after ncrmal retirement. 3.04 Minimum retirement age Miscellaneous Members This provision is governed entirely by the basic formula shoam on line 3.01. Age 60 applies for all -1/140-1/70 and 1/70 contracts, age 55 for all 1/go-1/6o and 1/60 contracts. Safety Members Minimum retirement age (55 under the one-half pay, 60 under 14 can be reduced to 50 by actuarial discount. Under this pro- vision the early retirement benefit is reduced to the actuarial equiva- lent of the normal benefit which would be paid for the same service. An . amendment to provide this feature can be adopted without an actuarial valuation and with no change in member or agency contribution rate. For contracts so amended this item is shown as "50 disc.% The minimum retirement age is 50 under the "I Fay at age 50" formula. 3.05 Minimum guarantee The entry here can be: N.3ne $40 "6u, cr $100 3.06 through 3.09 Modification for Soda'_ Security These lines describe the no•lifications to Retirement System benefits which are permitted for coordination with Social Security. The text specifies the level of compensation to vhi^h a modification applies, while the column r entries specify the dates from which service is subject to the Ret. Form 528-2 (Rev. 4/67) ;:� , 1 modified funs-j1a• Service prior to the date shown on line 3.06 for the miscellaneous group produces a benefit calculated under the full 1/70 or 1/60 formula as the case may be. If the columnar entry on.line 3.06 is the word "empl't" instead of a date, this means that the applicable modification applies to all previously rendered service with that agency regardless of whether such previous service is current or prior service. Where the phrase 1$400 Freeze" appears in the columnar space for lines 3.08 and 3.09, the level of compensation to which the modification applies will remain $400 regardless of the cbange in the Social Security covered wage. 4,0 Compensation average This section defines the "final compensation" used to calculate retirement allowances. The "Fixed Formula" contracts, with 3 exceptions, provide the same salary averaging period for prior service as for current service bene- fits. ' This may be Either a 10hree or a five-year period as indicated by 113H" or 115H" on lines 4.01 and 4.02. Regardless of their averaging period, such contracts must provide that benefits be based on gross compensation exclusive of overtime, thus line 4.03 will alxays indicate the date on which gross compensation became effective. 5.01 Lump sum benefit (for death after retirement) The entry here can be: None $300, or $400 The amount of this benefit is independent of any other provisions in a contract. -Actuarial valuation is required as a preliminary to any amend- ment which would increase this provision. Member contributions are not affected. Group'_B consists of four items which are governed entirely by other provisions of the contract. 3.02 Percent of prior service credit allowed Unless special provisions relating to the disposition of a pre-existing local System plan have been made, the entry on line 3.01 must be 100%. 3.03 YA sc P/S improved to This entry applies to riiscallane,nis members only and appears as "Age 65" in all contracts except three. The lax permits no further actuarial improvement in prior service benefits beyond age 65. 3.10 Ordinary disability formula The entry here must be in all cases VaQre miscellaneous members are covered by the 1/60 or 1/90-1/60 forsitla. Thf; means that any disability benefit for miscellaneous members or s non-service connected disability . allowance for safety members is calculated at 1.5% of "final compensation" times years of service. Ret. Form 528-3 (Rev. 4/67) :^�'. ry If the contFact provides safety mezb,;.r bc.Le 1 s only, or- -.f misccliaLeous members have 1/140-1/70 or 1/70 coverage, line 3.10 rust specify a disabilit; allowance equal to 1.28571% of "final compensation" tines years of service. Fembers with 10 or more years of service qualify for the minimum, guarantee upon disability retirement. This guarantee is one-third of "final compen- sation" subject to the limit specified on line 3.1.1 for agencies covered under the 1/90-1/60 or 1/60 formula and 25% for those agencies subject to the 1/70 or 1/140-1/70 formula or have only erfety member coverage. � 5.11 Maximum Ordinary Disability Benefit Limit This entry specifies the section of the law which defines the maximum allowance payable for ordinary disability. The reference is to Section 21297 if miscellaneous Members are covered by the 1/90-3./60 or 1/60 formula, 21298 in all other cases • Those sections require that the dis- ability allowance cannot exceed the service retirement benefit which would be ;aid at normal retirement age if the member could continue employment to that age. The section number is folic-.red by the letter "V where this limiting calculation ip to be made u icx the full 1/70 or 1/60 formula, "M" when a modified (1/140-1/'(0 or 1/90-1/60) formula is to be used. Croup C consists of 1.3 items, each of which can eilb.er be included in or c=itted from an agency's contract. They must either be accepted er rejected as they stand because the';Av permits no variations within any of these: �.tems, In P.22 cases where one of these f teme is included the date of such inclusion is lndicatec cm, F-556-s. 5.02 Cne-half Continuance Benefit (P-1264) Applicable only to *-Idows and minor children of present and future safety member retirees. Provides that one-half of the retired member's allmance will continue to his surviving widov (o; minor children, if no widow) until her death or remarriage if retirement was for service or industrial disabil- ity. An actuarial valuation is required prior to amendment. Member contri- butions are not affected. 6.03 157 Survivor Benefit (21365.5) Provides an optional life income (in lieu of 6 mouths pay plus contribution refund) to the widow of a 5 year Member who dies as an employee after attaining the minimum age for service retirement. An actuarial valuation is required for this amendment. Member contributions are not affected. 6.04 159 Survivor Benefit (21380--7) Applies only to members %rho are not covered by Social Security. Provides $90 per month for each eligible svrvircw (children under 1.8, widows with such children in their care, and vido-rs 62 or old3r) up to $250 per family upon death of rovereM empl:.yce. Nc nctrarisl valuation is required. Fach covered employee pays $2.00 per mouth (non-refimdsble) and agency pays $5.00 per month per covered enaloyee ustai (agency rate is adjusted by a succeeding quadrennial revaluation. Pet. Form 528-4 (Rev. 4/67) 7,03 Military Service Credit at agency cost (20894-5) Provides that agency bear full cost (including member share) of providing credit while member is absent it military service. No actuarial valuation is required. Agency cost will emerge as service gained by members is re- vealed at quadrennial revaluations. 7.04 P/S.with 10 yr. C/S (20834.1) If a break of more thar 3 years has intervened between a member's last service before contract date (line 1.01) and his initial membership in the State Employees' Retirement System, his prior service cannot normally be credited. Amendment to include Section 20834.1 permits crediting of prior service in such situations provided the member is credited with at least ten years of current service (after the date on line 1.01) with the amend- ing agency. Member contributions are not affected and no actuarial valuation is required. !Agency cost will emerge as service gained by members is revealed at quadrennial revaluations. 7.05 PIS wage ether source (20839) Prior service (rendered before the date on line 1.01) not normally credit- able because the compensation therefor was not paid by the amending agency can be credited under Section 20839 provided such service was performed under an officer of the amending agency. Member contributions are not affected and no actuarial valuation is required. Agency cost will emerge as service gained by members is revealed at quadrennial revaluations. THE FOLLOWING ITR14S APPLY ONLY TO FERSOP:S WHO ARE RETIRED ON ANFdMENT DATE 8.01 Adjustment to current member formula (21251.35) Increases allowances to the amount which would have been paid had all the existing contract provisions been in effect on the date of retirement. Actuarial valuation is required prior to amendment. 8.02 $100 minimum benefit guarantee (21258.2) Applicable only to agencies which already have or are amending to the $100 minim guarantee (line 3.05)- Brings allowances of less than $100 to that figure where retirement was ccsmpulsory with prior service credit or occurred after age 60 with more than 20 years of service. Requires actuarial valuation before amendment. 8.03 1,55 to pre-3 year average (21251.4) Provides increases ($15.00 to $25.00 for those with 20 or more years of service) to members whose retirement allowance was based on a 5-year (instead of 3-year) salary average. Actuarial valuation is required prior to amendment. Ret. Form 528-5 (Rev. 4/67) 3tve- 8.04 '5T to pre-7-21.56 retirements (21251:5) Members retired 7-1-56 and earlier receive an allowance increase of $10.00 plus a pereantage (not more than 5%) of their present allowance. Actuarial va,].uatiam is required prior to amendment. 8#05 For 20834.1 service (20834.2) Applies only to contracts which include Section 20834.1. Permits retired members to receive prior service credit under Section 20834.1 (see discus- sion of item 7.04) and receive corresponding allowance increases. Requires actuariAl valuation prior to amendment. 8.06 For 20839 service (20840) Applies enly to contracts which include Section 20839. Permits retired members to receive prior service credit under Section 20639 (see discussion of item 7.o5) and receive corresponding allowance increases. Requires actuarial valuation prior to amendment. 8.07 165 Increase in retirement allowances (21251.6) Provides for increases varying frog 2% to 10% in retirement slimmaces, special death bebeiLts and survivor allowances with respect to retirements and deatha prior to January 1, 1962. Ret. Form 528-6 (Rev. 4/67) i, . STATE E4PLOYERSI RETJREM U LAW PROPOSALS FC;R 1967 LEGISLATION The following proposals relating to retirement are recommended for Inclusion -in the Board's legislative program for the 1967 General Session: DEATH BMFITS 1. To provide that the percentage to be added to the special death benefit in the event of violent death will not be applied to any additional contributions or contributions in another category of membership included in that benefit (Section 21364). Additional contributions and contributions in another category of member- ship credited to the membe_•'s account are paid as an additional annuity In the case o} an industrial death. Eowever, it is technically part of the special death benefit, and the violent death provision which increases the special death benefit by certain percentages could be construed as applying to the total payment. This is contrary to the condition of the provision for additional contributions that such contributions shall not require additional contributions by the employer. This provision was adopted by 1965 legislation but was lost in the chaptering process. 2. Terminate payment of the special death benefit to a child upon marriage of the child (Section 21364). The additional amount payable as part of this benefit in cases of "violent" death is terminated upon marriage but the basic portion is not. This provision vas adopted by 1965 legislation but was lost in the chaptering process. 3. To provide eligibility of surviving dependent husbands of female safety members for the special death benefit. Such eligibility is already pro- vided with respect to the 1959 Survivor Benefit. It was not a part of the System'£ program in 1g65, but legislation to accomplish this, which was supported by the Systeri, was passed but was lost in the chaptering process in :19065. -1- 1000 4. To require that a stepchild have been living in the member's household in a parent-child relationship at the time of death to be qualified for the 1959 Survivor Benefit (Section 21382). This provision was adopted by 1965 legislation but was lost in the chaptering process. 5. To remedy a technical cmissicn of local members in provision for death benefit coverage of a member continuing contribution while absent on military service. This resulted from a reorganization of the sections relating to absences because of military service (Sections 21360, 20891 and 20891.1). RETIREM."r ALLGWANCES 6. To combine actuarial discount and improvement factors for current and prior service. This is proposed in the interests of simplification and member under- standing of benefits (Sections 21251.1 and 21253)• 7. To provide that Old-Age, Survivors and Disability Insurance offsets against Industrial death and disability benefits will not be adjusted because of changes In CASDI benefits after the benefit becomes payable. This will conform to the policy of the 1965 legislative action on CASDI coordination of service retire- went allowances fixing "covered wages" at $400.00 (Sections 21293.5 and 21364.7). 8. To clarify the 1965 safety member-OASDI coordination formula so that the modified formula willapply to all safety service of the member who is covered under CASDI. The legislation followed the format of the 1190-1160 provision whereas the proposition approved by the Beard and incorporated in contracts and contract amendments was that the modification should apply to all service of such a member (Section 21252.45)• 9. To clarify provisions for temporary annuity so that annuity will not be available if a member at the time of retirement is eligible to receive an OASDI benefit either on the basis of age or disability. The provision now imy be construed as permitting election of such annuity if the .person is under age 65 even though he is qualified for an OASDI benefit either because of disability or having attained age 62. This provision was intended for the benefit of persons retiring before they were entitled to an OASDI benefit (Section 21338). 10. To change actuarial discount and improvement factors in Sections 21251.1 and 21253 in accordance with those fixed by Beard on basis of new mortality tables. M EERSHIP AND SERVICE CREDIT 11. To remove provision for election of membership by a State employee who elected to be excluded from membership on the basis that his compensation exceeded $416.66. This provision has no current application(Section 20362). 12. To permit former legislative employees' who did not elect membership while in such employment, to elect to contribute and receive credit for .such service if they become members in other employment. This would conform to provisions relating to other persons having optional membership (Section 20804.5). -2- COLIMBLUIOTdS 13. To accomplish a technical correction in 1966 legislation providing the "one-half pay at age 50" formula for local policemen. The age specified in the employee rate provision should be 45 rather than 35 (Section 20601.7). 14. To clarify provisions for payment of any balance of contributions under an election to redeposit contributions at the time a special death benefit becomes payable so that only contributions relating to the special membership category having that benefit will be collected by offset against the benefit (Section 2C685). 15. To clarify provisions for miscellaneous member contribution rates in case of a new contract on the 1160 or modified 1/60th formula. Technically, the provision now relates only to contract amendments changing from the 1/70 to 1/60 formula (Section 2o605). 16. To include policemen subject to the "one-half pay at age 50" formula in the pro- vision for special computation of member contribution rates upon movement between the several "one-half pay" formulae. This was an oversight in the 1965 legislation adding the formula (Section 20609). 17. Amendment to adjust State employer rates of contribution, effective July 1, 1967, if any of these require change as a result of the State valuation. ADNSh'I STRATION A?1D INVESTMU 18. To clarify interest rate provisions so that rate of interest for crediting purposes may be either greater or less than the rate assumed for actuarial purposes: Variation is possible now only on the basis of the provision for crediting interest in addition to the established rate (Sections 20026, 20130, 20131 and 20132). 19. To implement the amendment to Section 13, Article 12 of the Ccnstitution permit- ting the Legislature to provide for investment of retirement funds in stocks, if the amendment is adopted by the electorate. 20. To substitute the Director of General Services for the Director of Finance in provisions relating to investment in real property for sale or lease to the State. Legislation accomplishing this was gassed in 1965 but was lost in the chaptering process (Section 20205.5) COETRACTItT3 AGENCIES 21. To clarify employee voting requirement for a contract with a public agency having a local retirement system so that voting requirements will be determined according to each of the basic groupings, i.e., policemen., firemen and miscel- laneous employees in accordance with consistent administrative practive (Section 20523). -3- v TO: Mr. William E. Payne, Executive Officer State Employees' Retirement System P. 0. Box 1953 Sacramento, California 95809 CERTIFICATE OF ELECTION OFFICER I hereby certify that on or before December 2, 1966, I delivered or caused to be delivered personally, or mailed or caused to be mailed to the last known address, an official, ballot and envelope for the election to fill the office of Member of the Board of Administration, State Employees' Retirement System, from the membership of the System, to each person appearing as a System member during the month of October, 1966, on the payroll records of Citv of Hunting.ton Beach Name of Agency I further certify that all ballots and election mailing envelopes unused or returned unclaimed have been destroyed. Date 12-13-66 JV, I w Election Officer for F.kection of Board Member Citv of fiuntin,rton Beach hTame of Agency COG (Agency-Code Number Prepare in duplicate. Transmit completed original to Retirement System. Pet.:Form'.l9l;-ll' (10/66) 1700 1. - TATE OF CALIFORNIA—BOARD Of ADMINISTRATION EDMUND G. BROWN, Governor STATE EMPLOYEES` RETIREMENT SYSTEM , 1416 NINTH STREET, P. O. BOX 1933 i SACRAMENTO, CALIFORNIA 93809 tlws•Direct Your Roply to Sed;on 23 -- Ref4w to Member Account Numbw September 27, 1966 City of Huntington J>r Enclosed for your file is •,3 copy of the contract between your agency and Coates, Herfurth and England, Consulting Actuaries, as approved by the Executive Officer of this system. The contract is for the work to be performed by the consulting actuaries in connection with the quadrennial valuation as of June 30, 1966. No remittance is' to be made now. You will receive a statement from the actuaries upon completion of the work. Remittance should then be made directly to the actuaries and NOT to the Retirement System. 4SUl:I YA T ACTUARY encl. _ 2 copies me Ret. Form 891 (Rev. 9166) STATE OF CALIFORNIA—BOARD OF ADMINISTRATION EDMUND G. BROWN, Gomnor STATE EMPLOYEES' RETIREMENT SYSTEM 1416 NINTH STREET, P. O. BOX 1953 SACRAMENTO, CALIFORNIA 75809 Please Direct Your Reply to Sodioe. Refer to Member Account Number September 1, 1966 TO THE ELECTION OFFICER FOR ELECTION OF BOARD M MER Enclosed is the certified copy of your appointment (on our Form 191-3) as the Election Officer for your Agency, in the coming election of a member of the Board of Administration. Enclosed also are the following: 1. Form 294 Election Bulletin with additional copies, if any, previously ordered on Form 191-3; 2. Copy of System's instruction letter (Ret. Forms 191-1 and 2); 3- Form for ordering Ballots and Envelopes (Ret. Form 191-6). Please give particular attention at this time to Item II-B-(1) through (8), of the instruction letter and send your order for Ballots and Envelopes as soon as you can estimate the number you will need. Your order should reach us by September 30, 19056, inasmuch as any System member who is on your payroll for any length of time in the month of October would be eligible to vote and you no doubt can determine that before the end of September. If employees become members during the month of October by reason of re-employment, or otherwise, we shall be glad to send you Ballots for their. upon your request. WILLIMI E. PAYNE, EXECUTIVE OFFICER Encl. Ret. Form 191-5 (Rev. 8/66) 900 STATE OF CALIFORNIA—BOARD OF ADMINISTRATION EDMUND G. BROWN, Governor STATE EMPLOYEES' RETIREMENT SYSTEM 1416 NINTH STREET, P. O. BOX 1933 0SACRAMENTO, CALIFORNIA 93809 Please pint!Your Reply to Wor Fo Member Account Number November 7, 1966 TO: HEADS OF ALL STATE DEPARTIAEMS FUBLIC AGENCIES CONTRACTING FOR RETIREMENT COVERAGE DISTRICT AGRICULTURAL ASSOCIATIONS OTHER INTERESTED PARTIES SUBJECT: NOTICE OF PROPOSED CHANGES IN REGULATIONS OF THE BOARD OF ADMINISTRATION, STATE EMPLOYEES' RETnmm%T SYSTEM Notice is hereby given that the Board of Administration, State Employees' Retirement System, pursuant to authority vested by Section 20120 of the Government Code, will consider a change in its regulations in Subchapter 1, Chapter 2, Division 1, Title 2 of the California Administrative Code relating to State Employees' Retirement System Regulations, as follows: Amend Section 582 relating to designation of beneficiaries. Notice is also given that any person interested may present state- ments and arguments, orally or in writing, relevant to the action pro- posed at a hearing to be held in the First Floor Auditorium, 1416 - 9th Street, Sacramento, California at 9:00 a.m., on the 9th day of December, 1966. At such time, or at any time thereafter, said Board of Administra- tion, upon its own motion or at the instance of any interested party, may adopt the above proposal substantially as set forth, without further notice. Attached is a copy of the proposed regulation for your information. BOARD OF ADt•QNISTRATION STATE DI'IOYEES' RETIMIENT SYSTEM i BY w/ �{.(. W W=M E. PAYNE, E MCU OFFICER Attachment 1000 582. Beneficiary Designations. A member may designate as beneficiary to receive any benefit payable to a member's designated beneficiary upon death before or after retirement, any person or persons, including a corpor- ation; individually but net as trustee; provided, however, that a beneficiary designated to receive payments under an optional settlement based on life contingency may be only a natural person. The designation must be in writing, except as otherwise provided in this section, must give the name of the person and his address, and must be filed in the office of the board in Sacramento, California. The right of a beneficiary to receive payment of a benefit is contingent on his survival at the time of the member's death, and the . member may designate a beneficiary or beneficiaries on the contingency that the first beneficiary does not so qualify. A member may, subject to the conditions set forth in this paragraph, designate as beneficiaries or contingent beneficiaries, other than a bene- ficiary to receive payment under an optional settlement based on life contin- gency of the beneficiary, his children or his grandchildren by class rather than by naming the individuals as otherwise required in this section. For purposes of such designation, "children" shall mean natural or adopted children and "grandchildren" shall mean natural or adopted children of the member's "children", and shall include such children or grandchildren in being at the time of the member's death or who are conceived before the member's death and born thereafter. Payments of a benefit by the system on the basis of a determination in good faith of the existence and identity of the members of a class so designated shall constitute a complete discharge and release of the system from further liability for the benefit, notwith- standing that it may not have discovered a beneficiary othenAse entitled. r Mr. William E. Payne, Ex.cutive Officer State Employees' Retirement System P. 0. Box 1953 Sacramento, California 95809 Based on the October, 1966, payroll records of this ageaey, we estimate we will need 385 Ballots and 385 =ailing Envelopes for the coming election of a member of the Board of Administration.. SEF.L W. WATS011 ELECTION OFFICER FOR ELECTI011 OF BOARD MMER CITY OF M"U GTON BEA Q 0097 AGUZY NAME AGENCY CODE # OCTOBwR 7: .. 1966 DATE Instruction: 1. To be prepared in duplicate - Mail original to Retirement System, duplicate to be retained by Election Officer. NOTE: 2. Complete and send to System by September 30, 1966. Ret. Form 191-6 (Rev. 8166) 1800 �►.. kw� SIATE OF CALTFORNIA—BOARD OF ADMINISTRATION EDMUND G. BROWN, Gor•rnor STATE EMPLOYEES' RETIREMENT SYSTEM , 1416 NINTH STREET, F. O. SOX 1957 SACRAMENTO, CALIFORNIA 95$09 ; Pleas*Dow Your Reply to S.cRoft Refor to Member Account Hum September 29, 1966 TO: HEADS OF STATE DEPARTMEPnS DISTRICT AGRICULTURAL ASSOCIATIONS PUBLIC AGEZIES UNDER CONTRACT FOR RETIREME ? COVERAGE HEALTH BaWITS CARRIERS OTHER INTERESTED PARTIES SUBJECT: N=IVG OF BOARD OF ADMIKSTRATION, STATE DIPLOYEES' RETIRE E v'T SYSTEM. The next regular meeting of the Board of Administration of the State Employees' Retirement System will be held at 9:00 a.m. on Friday, October 14, 1966, in the First Floor Auditorium of the Resources Building, 1416 - 9th Street, Sacramento, California. The Board will be pleased to have repre- sentatives of your agency at the meeting. Agenda items which may be of interest to you include: I. Review of Preliminary Draft of Board's Report to the Governor and the Legislature under Section 20140, Government Code. 2. Review of 1967 Legislative Proposals. 3. Recommendation of Minimum Standards of Enrollment for Con- tinuation, or Approval, of Health Plan Contracts. 4. 1967 Unit Loading for Annuitants. WILLIAM E. PAY11E, EXECUTI E OFFICER Attachment 1000 - C�,^r ACT OF City of Huntington Be'I • WITH THE FIRM OF CQATrS, HERFURT& Ahl) U4L.A0.0 COK;LTUL.7i � ;X Ueuti FOR MAKING A VALUATION AS STATED MEM By this AGREEIfNT made this day ofSEP 27 196E , 19 , in accordance with and subject to the provisions of the State Employees' Retirement Law, by and between the City Council w of the City of Hunti.nF-ton Beach hereinafter referred to as Agency, and COATES, HERFURTH,AND ENGLAIrD, Consulting Actuaries, hereinafter referred to as Actuaries, Agency, and Actuaries agree as follows: A. Agency herewith retains the services of Actuaries to perform, as of June 30, 1966, the investigation and valuation required by Section 20127 of the State Employees' Retirement Law for the purpose of determination by the Board of Administration of the State Employees' Retirement System of the contributions to be made by Agency under Agency's contract with said Board in accordance with Section 20527 of said Lau. B. Agency's contract with the Board of Administration covers _ 86 present, former, and retired employees of Agency in 2 membership categories with benefits as specified in Contract Status Form 5�'s attached hereto, and said contract provides that liabilities on account of prior service shall be amortized as a percentage of member payroll until September 30, 1970 C. Agency will pay L 67- _ to Actuaries upon completion of the valuation, such fee being based on the number of persons and membership categories set forth above. Should Actuaries encounter any unusual situation which might require an additional expenditure of time, said situation shall be brou&.t to the attention of said Board of Administration for further consideration. It is understood that the time expended in connection with said unusual situation is not included within the fee stated herein. D. Data relative to members and retired persons shall be furnished to Actuaries by the Board of Administration, State Employees' Retirement System and. the Actuary of said System shall specify the actuarial tables, schedules of rates, and other actuarial factors and procedures to be used. The valuation is to be ecnducted under the direc- tion of the Actuary of said system and all work sheets, final results, and reports from Actuaries are to be delivered to him at conclusion of said work. Agency shall deal with Actuaries only through the Actuary of said system. E. Actuaries shall, render the services herein provided for in a satisfactory and expedi- tious manner. Actuaries shall furnish to the Board of Administration, in addition to data provided herein to be furnished, a written summary in duplicate on the Retirement System's form of the results of the calculations ode under this agreement. The compensation provided for herein shell be payable by Agency to Actuaries when such s:;m:^..ary is delivered to Agency by the Board of Administration. Witness our hands the day and year first above written. COATES, MMFURTH., AND ENGLAP:D _ City of HuntinZton -EeHch ! Iisme of Agency BY AA, -, Partner BY _ ` APPROVED " ' � � DR RO TEM is E.- yn-, Executive Officer Title � MY CLERr for Board1isti1{'+t`ic State Employees' Retirement System. Ret. Form 424 r7.0 ' 1L1xCT OF ClV' Of I:uCt t,;t' '• WITH TIM FIRM OF COATF.S) HERFURTH AND E11GLAh'D, CONSULTING ACTUARIES FCF MAKIl'1G A VALUATION AS STATED HMEIN By this AGREEMM12 made thi-s day of S EP 271966 , 19 , in accordance with and subject to the provisions of the State FeWYe ' HO �;e ,a, by and between the City C04W41 of the �tJJ �sli f�;�oa�4 . hereinafter referred to as Agency, and COATES) 21FURFUnH, AIM MG;,MD, Consulting Actuaries, hereinafter referred to as Actuaries, Agency, and Actuaries agree as follows: A. Agency herewith retains the services of Actuaries to perform, as of June 30, 1966, the investigation and valuation required by Section 20127 of the State Employees' Retirement Law for the purpose of determination by the Board of Administration of the State Employees' Retirement System of the contributions to be made by Agency under Agency's contract with said Board in accordance with Section 20527 of said Law. B. Agency's contract with the Board of APAnistration covers 3% present, former, and retired employees of Agency in membership categories with benefits as specified in Contract Status Form 559:attached hereto, and said contract provides that liabilities on accoi:nt� 1ti$rs�r shall be amortized as a percentage of member payroll until. C. Agency will pay $ 97 to Actuaries upon completion of the valuation, such fee being based on the number of persons and membership categories set forth above. Should Actuaries encounter any unusual situation which might require an additional expenditure of time, said situation shall be brought to the attention of said Board of Administration for further consideration. It is understood that the time expended in connection with said unusual situation is not included within the fee stated herein. D. Data relative to members and retired persons shall be furnished to Actuaries by the Board of Administration, State Employees' Retirement System and the Actuary of said System shall specify the actuarial tables, schedules of rates, and other actuarial factors and procedures to be used. The valuation is to be conducted under the direc- tion of the Actuary of said system and all work sheets, final results, and reports from Actuaries are to be delivered to hip at conclusion of said work. Agency shall deal with Actuaries only through the Actuary of said system. E. Actuaries shall render the services herein Frovided for in a satisfactory and expedi- tious manner. Actuaries shall furnish to the Board of Administration, in addition to date. provided herein to be furnished, a written summary in duplicate on the Retirement System's fog of the results of the calculations made under this agreement. The compensation provided for herein shall be payable by Agency to Actuaries when such su=zry is delivered to Agency by the &card of Administration. Witness our hsnds the day and year first above written. _My of Hu"UnUn-D"Ch COATES, T , AN-D ENGUN0 Name of Agency BY , Partner _ BY _ APPROM BY 2_-N _li ,M. , @, Executive Officer Title ` MI %J - - �YT♦ �aML.L1i� for Boardi,bfddaii�i:itiWfi6n, State Employees' Retirement System. Ret. Form 424 NO x � # STATE OF CALIFORNIA—BOARD OF ADMINISTRATION EDMUND G. BROWN. Gor.reor STATE EMPLOYEES' RETIREMENT SYSTEM , 1416 NINTH STREET, P. O. BOX 1953 SACRAMENTO, CALIFORNIA 95809 ►loos,Direct You Reply to swi.r• 2 September 6, 1966 R.fw to Mmnm6w Account l'lu,nbw TO: CONTRACTING PUBLIC AGENCIES SUBJECT: QUADMIHI IAL ACTUARIAL VALUATION The Retirement Lamm requires an actuarial investigation and revaluation of the assets and liabilities of this System to be made at least every four years in order to determine whether any change should be made in the contributions of the State and contracting agencies. Recognition of this requirement and agreement thereto is specifically included in each agency's contract with the Retirement System. The last quadrennial revaluation was done as of June 30, 1962, and thus is required again as of June 30, 1966, on the basis of the benefits which are set forth in your agency's contract. The System is in the process of the investigation phase of this operation and is revising its actuarial tables to reflect current statewide experience. All other prelim, inary work has been done and specifications for each agency's contract have been prepared. It is necessary for your governing body to adopt the actuarial contract which is enclosed in quadruplicate in order that this work may proceed. Three copies of this contract should be executed as soon as possible and returned to: State Employees' Retirement System Attention Section 23 Post Office Box 1953 Sacramento, California 95809 One copy will then be returned to you after it has been approved by our Board. Tte valuation to be completed under the enclosed agreement will be based on benefits now afforded your employees as described in the analysis (Form 556-s) attached to the enclosed agreement. We are also enclosing material (FornT 528) explaining the analysis. Work on special valuations for amendments to your contract will be deferred until the valuations regularly required have been completed so as to insure that agencies will be advised of any changes necessary in their contribution rates in time for inclusion in their 1967-63 budget estimates. c YKISUK YA ACTUARY Attachs. SWIARY OF ACTIOI7S, BOARD OF ADMINISTRATION STATE EMPLOYEES' RETIREMELT SYSTEM MEETINGS HELD August 12 - September 1 - September 19 . 1966 AUGUST 12 (REGULAR MEETING) 1. Adopted the following State's rates of contribution to be submitted to the Legis- lature for adoption, effective July 1, 1967: Miscellaneous Members 7.11% Patrol Members 13.63% Law Enforcement Members 23.80% Fish and Game Warden Members 19.47% Forestry Members 9.10% 2. Adopted the following Resolution relating to change in operation at the State Colleges to a year-round quarter system: RESOLVED, that (1) The Board of Administration find and it does hereby find that the terms and conditions of employment of academic year employees under appointments pursuant to Regulations of the Trustees of the California State Colleges in subchapter 6, Chapter 5, Title 5 of the California Administrative Code after amendments effec- tive September 5, 1966, applying to year-round operation of the colleges are not different in retirement effect from the terms and conditions heretofore existing for such employees; and (2) The Board direct and it does hereby direct that crediting of service, deduction of member contributions and determination of final compensation on the basis of current payroll reporting be continued with respect to such employees who are members of the State Employees' Retirement System. 3. Adopted the following amendment to Section 599.6 of its Regulations relating to Social Security: Any member of the State Employees' Retirement System employed by a school district, but not including a member employed by a school district having divided its retirement system pursuant to Section 22157 of the Government Code, who was eligible to elect to be included in the Federal system when the retirement system was divided, and who did not - 1 - elect at that time or in connection with the transfer action conducted in 1961 with respect to school members ,to be included, may request to be transferred to the part of the system composed of positions of members desiring to be included. The Executive Officer of the System shall devise a form on which such request may be made, and such form shall be made available to eligible members no later than October 10, 1966. Re- quests for transfer shall be filed with the Board of Administration and must be received in the office of the Board before 5:00 p.m. tovember 14p 1966, or bear a postmark no later than midnight of that date if transmitted by mail, provided however, that a transfer request form not filed timely due to circumstances beyond the control of the member -%ill 'be deemed to be filed timely if it is received in the office of the Board before 5:00 p.m., December 30, 1966 or bears a postmark no later than midnight of that date if transmitted by mail. The Executive Officer shall execute a modification to the California State Social Security Agreement, to accomplish the transfer of members requesting transfer pursuant to this section in sufficient time to secure execution by the Secretary of Health, Education and Welfare or his delegated represent- ative on December 31, 1966. SEP=- ER 1 AIM SEP DMER 19 (MEYERS-GEDDr"S.. IMALTH BM ITS =INGS) 4. Approved addition of Santa Clara County to the contract of the County Foundations for Medical Care. 5. Approved certain benefit and premium changes for the 1967 Contract Year NOTE: Information will be furnished to enrollees prior to the open period November 21 through December 10, 1966, on benefits and premiums. 6. Approved new plan submitted by the County Foundations fcr Medical Care. 7. Approved merger of the CSEA-California Western States Life-Occidental Life and the SERS California Western States Life-Occidental Life indemnity plans. - 2 - rr T 19 P: . Will+aa E. Payne; &ecutive Officer State Employees' Retirement System P. O. Box 1953 Sacramento, California 95809 The person named herein has been designated to serve as the Election Officer in connection with the coming election of one bember of the Board of Administration from among State Members of the System and one from among Public Agency members of the System: n ► ., tame of Election Officer for Election of Board Member Title of Person r. =m + n Name of Agency M Coa-,alete Address to Which brattrial Sbould, e peed T We need approximtely �� additional copies of Form 294i icmination and Election Bulletin. gnature of Agency Executive ate+ G (Title) Appointxent Cer�iffcd by: Executive Officer State Employees' Retirc=ent System {complete in Duplicate; Rcatlz►n Both Copies to �tR . P S SAY 1�j 1 �� r �e,FtE''rFtpt. Form 191-3 (Rev. 8/66) 3000' 1 STATE CF CALIFORNIA—BOARD OF ADMINISTRATION EDMIfND G. BROWN, Governor STATE EMPLOYEES' RETIREMENT SYSTEM a 1416 NINTH STREET, P. O. BOX 1953 SACRAMENTO, CALIFORNIA 93$09 plsoso Dirod Your Reply to SKllo,. Rolm!a M4mber Accavnf Nwnbw► August 18, 1966 TO: HEADS OF ALL STATE DEPARTMEFTS AND AGENCIES FUBISC AGENCIES CONTRACTING FOR RETIRENYM COVERAGE AGRICULTURAL ASSOCIATIONS 04PLOYEE ORGANIZATIONS HEALTH BENEFITS CARRIERS OTEER INTERESTED PARTIES SUBJECT: 1967 LEGISLATIVE PROGRAM The Board of Administration of the Retirement System considered its legislative program, as set forth in the proposals attached, at its meeting of August 12, 1966. The Board invites comments. Written comments should be forwarded no later than September 15, 1966, so that they may be considered by the Board at its meeting on October 14, 1966. / WILLIAM E. PAYPIE E(ECWfVE�OFFICER Attach: 1000 STATE OF CALIFORNIA—BOARD OF ADMINISTRATION EDMUND G. BROWN, Governor STATE EMPLOYEES' RETIREMENT SYSTEM 1416 NINTH STREET, P. O. BOX 1933 SACRAMENTO, CALIFORNIA 958J9 Plea..Wred Yow Reply to$ectlo� R.Jw to Member Aeeat-P Nvn.ber August 8, 1966 TO: ALL STATE DLPARTKUTS AVD STATE AGZUCIES; ALL PUBLIC AGENCIBS CONTRACTING FOR RETIREMT SYSTEM COVERAGE. SUBJECT: I. NOMIIZATIEW AND ELECTION OF TWO BOARD HERS II. ELECEE017 OFFICERS FOR >MICTION OF BOARD MEMBERS Ie VCHINATIOXI AND Ea.,rCaIO'r OF TWO BOARD lXICERS A. A supply of cc].a-e,:pla!mtory Bulletins addressed to Ebmbers of the State Employees' P,etircmcnt System, about the nomination and election of two Board members, is enclosed. B. It is not the invention that s copy of this Bulletin be laced in the hands of each aembcr. Instead, the Board desires to secure wide publicity about the nomination and election by posting copies on bulletin boards in the separate agencies and the distribution of copies to divisions and branches of the agencies, so that every member of the System will have the information, Where necessary, the Bulletin should be read by supervisors or foremen of the employees they supervise. C. If additional. Bulletins are needed, they may be obtained by your request included on the attached fora (Ret. Form 191-3). II. ELECT103 o piam A. The attached form (Ret. Form 191-3) is to be used by the Agency Executive to de;igaate a person to serve as the Election Officer. This form is to be completed in duplicate and both copies returned to the S stem as guickly as ssible. A cop^,; v ll be certified and returned to the agency. B. To assist the Election Officer in his planning, the following information is sumznrized: (1) The Pulletln= particularly Item 4, should be carefully reviewed; (2) Assistant E octicn Officers, if needed, should be named promptly by the Elect{en Officer. Persons so named and recorded locally are to assist the Election Officer. They are not to be reported to the System; 3) Eallo a vd3l not be identified by nember, but wile], be "in blank"; Ret. Form 191-1 (Rev. 8166) 1500 (4) All persons who are members of the System at any time during the month of October, 1966, are entitled to vote; * (5) Each Election Officer will need to estimate in advance the nuzber of Ballots and railing Envelopes, so as to provide one of each to every person entitled to vote. A fora for ordering the Ballots and Yailing Envelopes Will be sent to the Election Officer and must be returned to the System by September 30, 1966; (6) Ballots and Nailing Envelopes will be shipped by the System to the Election Officer on or about October 21, 1966, for distribution between November 1 and December 2, 1966, to members, based on payroll records of October, 1966; (7) A member votes by narking his Ballot and mailing it to the Secretary of State in the postage prepaid 1%iling Envelope; (8) After issue of Ballots and Envelopes to each System member, the Election Officer is to so certify to the Board, no later than December 5, 1966, on a "Certificate of Election Officer" form to be provided by the System. WILLIAM E. PAYNEO EXEC OFFICER Enclosures; Board Member Election Bulletin (Ret. Form 294) Form Designating Ferscn to Serve as Election Officer (Ret. Form 191-3, Original and Duplicate) If a System member has transferred from another agency where he is eligible for a ballot, into your agency in the month of October, please be sure he does not receive two ballots. Ret. Form 191-2 " (Rev. 8166) 1500 5-7 SSAT$OF CAMORNIA—BOARD OF ADMI141STRAIION EDMUND G. BROWN, Governor STATE EMPLOYEES' RETIREMENT SYSTEM 12V O STREET, P.O. BOX 1933 SACRAMENTO 9, CALIFORNIA STANLEY S. FOWLER, President OTTO PALOMBO,Vice President Reply to Section 22 DR. LESTU BRESLOW PATRICK R. BYRNE {TALE CHAMPION ,,1 DONALD GALLAGHER v/�y ober 15, 1963 A.W."JCE" HLSLOP RICHARD A. LIEGES LUCY E. RITTER D.GORDON TYNDALL JOSEPH L.WYATT,JR. City of Huntington Beach P. 0. Soup 190 MmUngton Beachp California Attention: Mr, Paul C. Jones -- - City Clerk _. --r -- - --- - ____------_ - --- - -- - --- - - ------- Dear Mre Jones: In response to your letter dated October 7, I should li1a to refer you to Government Code Section 21156.1.t Nish peradts a retired person to serve as an elective officer without reinstatement from retirement, or arq loss or interruption of benefits. At the 1963 Session of the Legislature, Goveranent Code Section 21156 vas changed to show the word "elective" as "appointive". Also, Section 21102.5 has been repealed. If you have farther questionsi please do not hesitate to vrite us. V truly Fours, EMOA3 D. MOO41E,•CICEF EMI-edt B121E TS DIVISION ,�A L4 i STATE OF CALIFORNIA BOARD OF ADMINISTRATION 9fair �Irfirrntrut 1227 O!TRIrr SACRAMENTO 14 January 14, 1963 23 PtEM DLRECT YOUR REPLY 7a SECYtia- REFER TO MEMBER ACCOUNT NVYR� _ City of Huntington Beach Enclosed for your file is a copy of the contract between your agency and Coates, Herfurth and England, Consulting Actuaries, as approved by the Executive Officer of this system. The contract is for the work to be performed by the consulting actuaries in connection with the quadrennial valuation as of June 30, 1962. No remittance is to be made now. You will receive a statement from the actuaries upon completion of the work. Remittance should then be made directly to the actuaries and NOT to the Retirement System, THOMAS F. CROCKER ASSISTANT ACTUARY encl. Ret. Form 691 (Rev. 12/62) ,daS:trac,�~S;,Ls as of 1962 - for HUNTINGTON B� CITY O Code 97 5}at�_ r-_e��e ir�-�tar. r Amended:- .. 3„1_52, 1Z-1-57, 201�93 or 20580 effective-Not AnnlicableAlpha 1510 .�.._W56, !C-1-61 '- a b c d e Miscellaneous Local Safety . FRE � Po1.-•� LIFEG'JlO'3D IX Coverage: 1:01 SUt6 since. . . . . . . . . .10-1-45 ' 10-1-45 i ?-Ix 10-1-h5* 1.02 OASDI since (D-Div., A-All) , 140 T ho 1.03 retro to. . . . . . . . --- --- 1.04 Former Group A re-employ as . XX XX Ulu 1.05 Refund retro OASDI adj. contr. -_- ..-- 2.0 Local Systen. . . . . . No N No 2.01 Use age for contr. rates. --- 2:02 Employee contr. transferred --- 2'03 Retired lives transfe.red - 3.0 Retirement Formula: 3,01 Basic Formula . . . . . . . Q 55 FF l Q 55a A 0 55 FF 3.02 Percent for P/S . . . . . . % 100 % loop 3.03 disc P/S improved to. - - - xxxx Xnxi 3.04 Minimum Retirement Age. . 5 3'.05 Minimum Guarantee . . . . . . ''60 C5 3,06 mod. 1st $ for OASDI from no No N T,. 3.07 until . . . . . . . . . , --- 3.08 thereafter lst $ to. 3.09 thereafter 1st $ to. 3,10 Ordinary disability formula 1.5% 1 1.51 1 1' % 3.11 Disability limit (section). 2 29 F 21297 F 21297 F 21207 4.0 Compensation Average: 4.01 For P 5 benefits. . . . . . 2 H H 3 N 2N 4.02 For CIS Benefi.ts. . H H I? 4.03 Gr. since (date) or $L16 lim. _ _ 0 -1- 0 1-1= 0 1-1-50 4.04 Include overtime. . . . . . No - do 40 No 5.0 Post-retirement Death Benefits- 5-01 Lur.:p-Sum . . . . $ 00 400 400 `ah0 5.02 1/2 continuance (21264) . . . Xxxx ;o Jo 6.0 Pre-retirement Death Benefits: 6.01 Local System contra credit . . - 6.02 Local System serv. credit . No 1 No 6.03 '57 Survivor (21365.5) since. No NO do 6 A '59 Survivor (21380.6) sin I NO da :do 6.05 Safety violent induct. (21364) 1 Xxxx iNo I No \o Entries below aDDly to all grouDs O Srecial Service: 8.0 Allowance Increases: 7.01 C S pre-membership (20804.5) 3-1-52 8.01 To member formula (21251.3) , ; _1 7.02 C/S ® non-cant. agcy. (20818) h10 8.02 $100 min. guar. (21258.2). . . . t:o 7.03 Mil. 0 agcy. cost (20894.5) No 8.03 155 to pre-3 yr. avej ,(21251.4) t.o 7.04 P/S with 10 yr. C/S (20834.1) No 8.04 '57 to pre-7/2/56 ret. (21251.5). r.o 7.05 P/S wage other source (20839) No 8.05 For 20534.1 service (20834.2). . A'o 8.06 For 20339 service (2080): No Exclusiops &rRemarks P, 1961 lifeguards ,on ocean beaches were reclassified as safety ne:•ibc.s �._.,.�. ��. _y�r•,vr.:oer, cre3i., for all previois service. Ret. Form 556-s (Rev. 8/6' B .B ADJ`+TiSMIi RW THh cra camp Cr THE C'Tff (V Hitt IPnTON BWH The Board of Admdraistratl n,, Publics t Iotirenwit Stem, horelmner refarried to a8 Dowd Wd the City Council of the City of Huntington, Be h, herein- `ter referred to 4s Public Agenoyj hem Wired into a ocntraoo u or date of October 27# 1945, offeotive 00tober 1, 1945, as wonded effootive Jemwy 1, 1950, Bah 1, 1952, November 1, 1957, YArdh Is 0otober 1) 1961, JahuW 1, 1971, ante , 2.974, AWIl 181 1975, PObruW 21# 1976, arA Aft `l$ 19762 62 which prole for p,artio on of Public Agency in eat Sys, Board and Pubic Age nor hereby Agree as folioni A* . Subpr%graph 6 (h) shall be stricken from "Ad oontmat and the foil owing eubparag ►ph shaU be substituted therefor: 6.. (h) motion 20094.2 (defielr4 "final oompen tion" on the his of average a"enoation aarrztable during the': r &tsly pro- coding retirement or wW other one year period elected by the rmber) for loea safety members. B. hm4raph 7. b ehaU be stricken frm said contract, wAI the Miming ftrairtPh 7. b shall be substituted therefort 7. Public Agency eball oentribute to said Retirement item as follam s b. With reepecb to 10001 safetr s, the Public Agency ebb dontribute the f4llwing p e eof monthIL7 salaries owwA as laftl Wety members of 6W Systemt (1) 17,012 men an "OoUrAtr of the lUbillty for *unent service benefits. C. This mrsnt shan be t�hed '�"to "M conts t *hall bey: effect. ti" t, 1 7t a eptember , 1977 Witness our h ie this y'-i deV of ..�. 4272 BOUM W AMMMLYi U C Mac Dvulywt VMINT Sr F C H Car], , outi Orf Lear heAdIng QCtiti r Mayor, City of Huntington Beach Ap roved as to fee Attests ems? , . +pffi * APPROVED AS TO FORM: Clark DON P. BONFA City Attorney e- B p City ttorn Reto Form 702 q2, 12 November 1973 TO: City Council FROM: City Attorney SUBJECT: Resolution Authorizing Personnel Director to Make Determination with Respect to Employee Disability under Public Employees ' Retirement Law At the request of the City Administrator and the Personnel Director, we transmit resolution which delegates the au- thority to the the Personnel Director to make determinations of disability and the type of disability, as well as to make application, on behalf of the city, for disability re- tirement of employees who are local safety members and to request reinstatement of such employees who have been re- tired because of disability. Respectfully submitted, DON P. BO A City Attorney /ahb Attachment ,3 STATE OF CALIFORNIA—BOARD OF ADMINISTRATION cn ,-2, 1970 - RONALD REAGAN, Governor PUBLIC EMPLOYEES' RETIREMENT SYSTEM T`' °` IautiT'"C�T'" 1416 NINTH STREET, P.O. BOX 1953 `+- SACRAMENTO, CALIFORNIA 95809 ase Direct Your Reply To Section__ Refer to Member Account Number December 23, 1970 TO: HEADS OF ALL STATE DEPARTMENTS AND AGENCIES PUBLIC AGENCIES CONTRACTING FOR RETIREMENT COVERAGE DISTRICT AGRICULTURAL ASSOCIATIONS HEALTH BENEFITS OFFICERS AND ASSISTANTS HEALTH BENEFITS PLAN CARRIERS EMPLOYEE ORGANIZATIONS OTHER INTERESTED PARTIES NOTICE OF PROPOSED CHANGES IN REGULATIONS OF' THE BOARD OF ADMINISTRATION, PUBLIC EMPLOYEES' RETIREMENT SYSTEM Notice is hereby given that the Board of Administration, Public Employees' Retirement System, pursuant to authority vested by Sections 22754, 22775, 22777 and 22810, Government Code, will consider a change in its regulations in Subchapter 3, Chapter 2, Division 1, Title 2 of the California Administrative Code, relating to the Meyers-Geddes State Employees' Medical and Hospital Care Act as follows:' Amend subsection (e) of Section 599.502, to read: (e) The Board will, at least once every three years, provide every employee and every annuitant who prior thereto was eligible to enroll or re-enroll as an annuitant or, upon first attaining status as an annuitant, to continue his enrollment as an employee, and every enrolled employee and enrolled annuitant an opportunity for change of enrollment, on such terms and conditions as it may prescribe. Notice is also given that any person interested may present statements and arguments, orally or in writing, relevant to the action proposed at a hearing to be held in the First Floor Auditorium of the Resources Building at 1416 Ninth Street, Sacramento, California at 9:00 a.m, on January 27, 1971. At such time, or at any time the eafter, said Board of Administration, upon its own motion or at the instance of any interested party, may adopt the proposal substantially as set forth, without further notice. Copies of the proposed regulations may be obtained upon request at the office of the Board of Administration, Public, Employees' Retirement System, 1416 Ninth Street, Sacramento, California (P. 0. Box 1953, Sacramento, California 95809). BOARD OF ADMINISTRATION PUBLIC EMPLOYEES' RETIREMENT SYSTEM BY: WILLIAM E. PAYNE, EXECUTIVE OFFICER 2100 l` VI STATE OF CALIFORNIA RONALD REAGAN. Governor PUBLIC EMPLOYEES` RETIREMENT SYSTEM 1616 NINTH STREET, P.O. BOX 1933 SACRAM°NTO, CALIFORNIA 95809 STANLEY B. FOWLER, Pr.sid.nl OTTO PALOMBO, Yin►nud nt /\ W.JAMES DAWSON, D.D.S. BARTLETT T. GRIMES ROBERT R. HEADLEY A. W. "JOE" HISLOP C;�,, ~+., � `+`• WILLIAM G. MAASJ VERNE ORR JAMES A. TAYLOR October 26, 1970 NEVILLE W. TURNER, M.D. 30SEPH L.VNXTT, JR. f -�v Mr. Edward H. Thompson, Personnel Officer s Q City of Huntington Beach P. 0. Box 190 Huntington Beach, California 92648 Dear Mr. Thompson: In your letter of October 20, 1970 you had asked for further information regarding certain 1970 legislation which is effective November 23, 1970, unless otherwise stated. The following expands on information provided in our memorandmm of September 30, 1970: Chapter 1361 -- AB llh8 Chapter 1361 provides for industrial disability retirement for local miscellaneous members. Each contracting agency Would have this option if they desire it after the effective date of the Law. Up to this time miscellaneous members have generally been covered industrially under the regular provisions of the Labor Code, through the State Compensation Insurance Fund. Only safety members of the System (policemen, firemen, county peace officers, etc.) had the System's industrial disability benefit in addition to the Labor Code provisions. The System industrial disability benefit Is 1/2 of final cor~pensation for life or until the employee is no longer incapacitated. Chapter 1447 -- AB 1153 In certain situations apparently both State and public agency employers were separating employees who were System members for disability prior to any action on disability retirement. The Legislature has now provided that unless a member is ineligible for or waives his right to disability retirement the ez:rployer is prohibited from separation of such member for disability. If the employer believes on the basis of fact that an employee is disabled, the employer should file an application for disability for such member with the System. On >redical examination, review, and approval of the disability retirement, and notice by the System, then the member would be separated from employment. Mr. Edward H. Thompson -2- October 26, 1970 CH 307 -- SB 789 This was an urgency measure effective and operative on July 6, 1970, and provides for setting aside the compulsory retirement age of 60 tinder the "20do at age 50" formula at the option of the contracting agency. The Law contemplates a one-time action by the employer related to members who were in employment on the effective date of amendment of the formula and where the member had attained age 60 and is credited with less than 20 years of service as a local safety member, or who will attain age 60 within 5 years after contract amendment and before completion of 20 years. Once exercised by the employer the agency csnnot thereafter compel retirement prior to the tire specified; however, a member nay himself apply for earlier retirement. Mandatory retirement after the public agency action would be the first of the month folloving the earlier dates: 1. Member's 65th birthday; 2. Corpletion of 20 years of service as a local safety member; 3. Expiration of 5 years after effective date of contract amendment to "2% at age 50" formula. CH 1h07 -- AB :L261 Under provisions of Law before the 1970 amendment all local safety r:embers were required to be under one service retirement formula. This amendment permits separation of safety members for purposes of the "2% at are 50 formula," that is, if salary and fringe benefit negotiations develop that policemen in the city wanted the 2% at age 50 formula and the firemen did not, then the policemen could be separately contracted under the formula. The City has the option, therefore, under 1970 amendment to contract for local policemen or local firemen or lifeguards, separately, under the "2% at age 50" formula. CH 767 -- SB 685 Under 1970 amendment the City may contract for the "1/50th at age 60" formula (2N at age 60) for local miscellaneous members. This is the highest level miscellaneous member formula now provided for by Law in the System and at this time is only available to public agency rembers, althoteh the Board of Administration, at its Octo- ber, 2970, Board Meeting, has gone on record recommending the formula for State miscellaneous members, through 1971 legislation. Mr. Edvard H. Thompson -3- October 260 1970 CH 150 -- SB 67 This was also an urgency measure, effective June 1, 1970, and permits a public agency to contract for the "one half continuance" provisions for its miscellaneous nembers. The "one half continu- ance" benefit to the surviving spouse is solely paid for by the employer and permits the retiring member to select the unmodified allowance in lieu of selecting a lower allowance in the form of a life option for the spouse. Previously a public agency could contract for this benefit only for its safety members. If contracted for, miscellaneous members who retired for service, disability or industrial disability would have the benefit. CH 719 -- AB 2080 All safety members in a city, policemen and firemen members, previously had to be covered under the one-half continuance pro- visions ,when that was contracted for. This amendment permits separate coverage of policemen, or firemen, under the benefit. CH 724 -- SB hhO The State in 1961, provided for a series of health benefit plans and the Legislature later amended so that public agencies could contract for such plans. The 1970 amendment you inquired about permits the contracting public agency to set its employer share of the premium at an amount higher than the portion paid by the State, but not less than the amount required to be paid by the `'tote. The amounts of the employer contribution towards the premium re- quired of the State were set in Chapter 212 (AB 356) operative July 1, 1970, as follows: $10.00 per month in Fiscal Year 1970-71 $12.00 per month in Fiscal Year 1971 72 $14.00 per month in Fiscal Year 197273 $16.00 per month in Fiscal Year 1973-T4 Yours truly, EUWARD K. C00 ASSISTANT EXECUTIVE OFFICER EKC:af Enclosure -- September 30, 1970 Memo STATE OF CALIFORNIA—BOARD OF ADMINISTRATION RONALD REAGAN. Governor PUBLIC EMPLOYEES' RETIREMENT SYSTEM 1416 NINTH STREET, P.O. BOX 1953 SACRAMENTO, CALIFORNIA 95809 ,_ Pleas@ D;rtrt Your Reply to S.c6 Refer to Member Account Numb@r September 30, 1970 TO: ALL STATE DEPARTMENTS AND AGENCIES DISTRICT AGRICULTURAL ASSOCIATIONS PUBLIC AGENCIES CONTRACTING FOR RETU0011T COVERAGE HEALTH IMEFIT CARRIERS EMPLOYEE ORGANIZATIONS OTHER nITERESTED PARTIES SUBJECT: LEGISIATIOI( MACTED AT THE 1970 REGULAR SESSION Attached is a summary statement of legislation, enacted at the 1970 Regular Session of the Legislature, which relates to the Public Employees' Retirement System (P.E.R.S.), the Meyers-Geddes State Employees' Medical and Hospital Care Act (Meyers-Geddes), and the Old-Age, Survivors and Disability Insurance enabling legislation (Social Security). Unless otherwise indicated, all legislation is effective and operative November 23, 1970. WILLIAM E. PAYNE, =,UT�ICER Attachment 1500 PUBLIC EFTLOYEES' RETI104MT SYSTEM SUMdARY OF 1970 MEMIMITS RETIR1EbMIT SYSTEM General Administration and Investment 1. Provides procedure for and effect of termination of a contracting agency's contract where agency elects to participate in county retirement system. (Ch. 676 - AB 5''9) 2. Authorizes administrative end interest charge for late reporting by a contracting agency. (Ch. 435 - AB 618) 3. Permits Board, on member's application, to not adjust past underpayment in itember contributions, if member has _not provided misinformation and had no knowledge of error. (Ch. 1049 - SB 344) 4. Authorizes Board of Administration to enter into reciprocity agreements with public agencies maintaining retirement systems. (Ch. 837 - SB 666) 5. Changes governing body voting requirement for approval of a contract with a public agency having a local system from two thirds to a majority of its members. (Ch. 1151 - AB 178) 6. Act maintaining Government Code including corrective amendments to Public Employees' Retirement Law and Legislators' Retirement Law. (Ch. 346 - AB 1230) 7. Provides that loans secured by real property held by a savings and loan association are legal investment for a pension fund and may be purchased directly from the association, (Ch. 921 - AB 1302) NembershiE 1. Includes custcdial and parole personn.el in Departments of Corrections and. Youth Authority in law enforcement raeaer category with "2% at age 55" formula and 7% %ember contribution rate. (Ch. 1600 - AB 245, Operative 7/1/71) 2. Provides a "21% at age 55" service retirement allowance formula and uniform 7% nember contribution rate for forestry members. (Ch. 131 - AB 303, Effective 5/21/70; Operative 9/1/70) 3. Persons who are members of State Teachers' Retirement System who enter employ- ment of an educational nature in the Office of the Chancellor of the California Community Colleges are continued in membership in the Teachers' System unless they elect to be excluded, in which event they become members of the Public Employees' Retirement System. (Ch. 1401 - SB 1013) -1- Membership, Continued In addition to other unrelated changes in State Teachers' Retirement Law, provides eligibility to membership of school nurses employed for less than full time but at least 50;b of a pay period. Applies to nurses entering employment efter the effective date of the bill. Nursing service already credited in Public Employees' .Retirement System may not be credited in Teachers' System. (Ch. 466 - AB 1222, Effective 7/17/70). Service Credit 1. Nakes provision for entitlement to prior service credit for local members uniform with State Members. (Ch. 457 - AB 527, Operative 12/1/70) 2. Permits contribution and credit for "war relocation leave" for a state or local member who returned to System-covered employment prior to July 11 1947. (Ch. 1059 - SB 583) Retirement 1. Provides for industrial disability retirement for local miscellaneous members at the option of the employing contracting agency. (Ch. 1361 - AB 1148) 2. Prohibits separation of a member for disability and requires instead employer's application for disability retirement unless the member 3s ineligible for, or waives right to,disability retirement. (Ch. 1447 - AB 1153) 3. Mandatory retirement are under "2% at age 50" formula established as age 65, or earlier completion of 20 years after age 60, for certain local members having less than 20 years of service when agency adopts the formula. Applies only at option of agency and for five years after adoption. (Ch. 307 - SB 789, Effective 7/6/7o) Retirement Allotirances 1. Modifies provision for cost-of-living adjustment of allowances by changing base year from second year following death or retirement,to year of death or retirement and by increasing percentage per ear accumulation for purposev of maximum permittcd adjustment from l to 2%. (Ch. 647 - AB 3) 2. Provides that �100 minimum guarantee provision shall be sole minimum guarantee provision available for adoption by contracting agencies. (Ch. 457 - AB 527, Operative 12/l/70) 3. Extends provision governing calculation of retirement allowance on retire- ment after reinstatement now applicable to miscellaneous members, to all members. (Ch. 458 - AB 528) -2- Retirement Allowances, Continued. 4. Provides that "2% at age 50" retirement allowance formula and related member contribution rate may be extended to either local policemen, local firemen or lifeguards separately. (Ch. 1407 - AB 1261) 5. Provides a "1/50th at age 60" formula for local miscellaneous members of the System at the option of the employing contracting agency. (Ch. 767 - SB 685) Death Benefits 1. Provides for payment of certain death benefits to specified survivors if a member's designation is not in effect at time of death and for voiding designations upon subsequent marriage, dissolution or annulment of marriage or birth or adoption of a child. (Ch. 568 - AB 3.524) 2. Provides one-half continuance allowance for local miscellaneous members at option of contracting agency. (Ch. 150 • SB 67, Effective 6/l/70) 3. Permits a contracting agency to extend one-half continuance allowance separately to policemen and firemen. (Ch. 719 - AB 2080, Effective 8/13/70) SOCIAL_ SECURITY 1. Defines "warden members" of the Public Employees• Retirement System as policemen for Social Security coverage purposes and removes retirement allowance and member contribution rate modifications coordinating with Social Security coverage. Contingent on Federal acceptance. (Ch. 1626 - AB 1250) 2. Definition of "Policeman" for Social Security purposes amended to include law enforcement members of the Public Employees' Retirement System employed by the Bureaus of Criminal Identification and Investigation, Varcotic Enforce- ment and Criminal Enforcement of the Department of Justice. Contingent on Federal acceptance. (Ch. 708 - AB 1924) DYERS-GEDDES I. Increases maximum employer contribution to health benefits plans from $, according to schedule increasing $2 per zonth each fiscal year, to $16 in Fiscal Year 1973-74. provides for reimbursement of State funds for increase in Fiscal Year 1970-71 from State contributions in State Employees' Contin- gency Reserve Fund. (Ch. 212 - AB 356, Effective 6/17/70, Operative 7/1/70) 2. Permits use of employment in which contribution was made by employer to another plan,to meet six months employment requirement for commencement of employer contribution. (Ch. 1177 - AB 1616) -3- • fir' �" Mkky!rs-Geddes, Continued . 3. Authorizes Board to contract for comprehensive plans without limiting such plans to persons also enrolled in basic plans, and to fix notice required for termination of contract participation. (Ch. 356 - AB 2051) 4. Removes ineligibility for enrollment in health benefits plans contracted for or approved by the Bcard, of State employees who elect enrollment in out-of-state plans. (Ch. 1052 - SB 435) 5. Permits contracting agency to fix its contributions to cost of health benefits plan provided that it is not less than the amount specified in Y the Act. (Ch. 724 - SB moo) i 9/30/70 STATE OF CALIFORNIA—BOARD OF ADMINISTRATION RONALD REAGAN, Governor PUBLIC EMPLOYEES' RETIREMENT SYSTEM , 1416 NINTH STREET, P.O. BOX 1953 SACRAMENTO, CALIFORNIA 95809 ., Please Direct Your ROPIr to Section Refer to Member Account Number September 30, 1970 TO: ALL STATE DEPARTMENTS AND AGENCIES DISTRICT AGRICULTURAL ASSOCIATIONS PUBLIC AGENCIES CONTRACTING FOR FMIRDE14T COVERAGE HEALTH BEWI'T CARRIERS EMPLOYEE ORGANIZATIONS OTHER 321TERESTED PARTIES SUBJECT: LEGISLATION ENACTED AT THE 1970 REGULAR SESSION Attached is a su=ry statement of legislation, enacted at the 1970 Regular Session of the Legislature, which relates to the Public Employees' Retirement System (P.E.R.S.), the Meyers-Geddes State Employees' Medical and Hospital Care Act (Meyers-Geddes), and the Old-Age,. Survivors and Disability Insurance enabling legislation (Social Security). Unless otherwise indicated, all legislation is effective and operative November 23, 1970- C WILLIAM E. PAYP�E, EXE7CUT�ICER Attachment 1500 i I PUBLIC EMPLOYEES' RETIREMENT SYSTEM SID24ARY OF 1970 AIRIDIMM RE,TIRENEN2 SYSTEM General Administration and Investment 1. Provides procedure for and effect of termination of a contracting agency's contract where agency elects to participate in county retirement system. (Ch. 676 - AB 529) 2. Authorizes administrative and interest charge for late reporting by a contracting agency. (Ch. 435 - AB 618) 3. Permits Board, on member's application, to not adjust past underpayment in member contributions, if member has not provided misinformation and had no knowledge of error. (Ch. 1049 - SB 344) 4. Authorizes Board of Administration to enter into reciprocity agreements with public agencies maintaining retirement systems. (Ch. 837 - SB 666) 5. Changes governing body voting requdrement for approval of a contract with a public agency having a local system from two thirds to a majority of its members. (Ch. 1151 - AB 178) 6. Act maintaining Government Code Including corrective amendments to Public Employees' Retirement Law and Legislators' Retirement Law. (Ch. 346 - AB 1230) 7. Provides that loans secured by real property held by a savings and loan association are legal investment for a pension fund and may be purchased directly from the association. (Ch. 921 - AB 1302) Membership 1. Includes custodial and parole personnel in Departments of Corrections and Youth Authority in law enforcement member category with "2% at age 55" formula and. 7% member contribution rate. (Ch. 1600 - AB 245, Operative 7/1/71) 2. Provides a "2,% at age 55" service retirement allowance formula and uniform 7;6 member contribution rate for forestry members. (Ch. 131 - AB 303, Effective 5/21/70; Operative 9/1/70) 3. Persons who are members of State Teachers' Retirement System who enter employ- ment of an educational nature in the Office of the Chancellor of the California Community Colleges are continued in membership in the Teachers' System unless they elect to be excluded, in which event they become members of the Public Employees' Retirement System. (Ch. 1401 - SB 1013) -1- . � J Membership, Continued In addition to other unrelated changes in State Teachers' Retirement Law, provides eligibility to membership of school nurses employed for less than full time but at least 50% of a pay period. Applies to nurses entering employment after the effective date of the bill. Vursing service already credited in Public Erployees' Retirement System may not be credited in Teachers' System. (Ch. 466 - A5 1222, Effective 7/17/70). Service Credit 1. Makes provision for entitlement to prior service credit for local members uniform with State V_,mbers, (Ch. 457 - AB 527, Operative 12/1/70) 2. Permits contribution and credit for "war relocation leave" for a state or local member who returned to System-covered employment prior to duly 1, 1947. (Ch. 1059 - 3B 583) Retirement 1. Provides for industrial disability retirement for local misceljarpou Members at the option of the employing contracting agency.rh. 1361 - AB u46) 2. Prohibits separation of a member for disability and requires instead employer's application for disability retirement unless th is ineligible for, or waiYe3 right to, disability retirement Ch. 1447 - AB 1153) 3. Mandatory retirement age under "2% at age 50" formula established as age 65, or earlier completion of 20 years after age 60, for certain local members having less than 20 years of service when agency adopts the fo only at option of agency and for five years after adoption. Ch. 307 - SS 789, Effective 7/6/70) Retirement Allowances 1. Modifies provision for cast-of-living adjustment of allowances by changing base year from second year foll.ow_ng death or retirement, to year of death or retirement and by increasing p rcentage per year accumulation for purposes of raxivum permitted adju,7tment from 1� to 2p. (Ch. 647 - AB 3) 2. Prc:►ides that tdOO minl um guarantee provision shall be sole mini guarantee provicion available for adoption by contracting agencies. (Ch. 457 - AB 527, Operative 12/l/70) 3. Extends provision governing calculation of retirement allowance on retire- ment after reinstatement now applicable to miscellaneous members, to all members. (Ch. 453 - AB 528) -2- ?12- STATE OF CALIFORNIA-60ARD OF ADMINISTRATION RONALD REAGAN,Governer STATE EMPLOYEES' RETIREMENT SYSTEM 1416 NINTH STREET, P.O. IROX 1953 SACRAMENTO,CALIFORNIA 95809 January 16, 1967 TO: ALL PUBLIC AGENCIES CONTRACTING FOR RETIREN.ENT COVERAGE SUBJECT: RESULTS OF ELECTION OF ME).MER BOARD CIF' ADMINISTRATIQN, FROM AMONG PUBLIC AGENCY MEMBERS OF THE SYSTEM Following are the results in the election of a member of the Retirement System Board of Administration, for the four-year term ending January 15, 1971: Number of Number of Name Votes Received Name Votes Received Otto Palombo 33,954 Daniel F. Kriege 4057 William W. Jennings 8,751 Jim Sparks 3,995 1 Harold G. Thornton 8,425 Walter McPhail 3,431 Mr. Vivian A. "Pat" Mitchell 6,519 R. A. Brand 3033 R. Mayne Alexander 5,332 John Legardy, Jr. 2,298 As the recipient of the largest number of votes, Mr. Otto Palombo, Was elected. Please give this information as wide publicity as possible by posting this notice on bulletin boards and through whatever other channels your Agency provides. If additional copies of the notice are needed, please let us know, stating the number desired and to whom they should be sent. The Board of Administration appreciates the cooperation of all personnel who assisted in distributing the ballots and who performed.other clerical work in connection with the election. ywi��MerA"'E,LnL17VE OFFICIIZ ., Ret. Form 191-12 (1/67) 20,OL Yeu nre rea,vistnd, t` ernrcrn, +-o ;nrv'erd -rhp fnllc,:ir, dmi-nets: �.. Resol,itio:: of intent to 4 reve- contrtrt bfit-vraen viibetivisicr: rind T?etiremant System. 6• fall-+s .for use in elpeticr: to dntmrnihe er.:pleyess' desires- T. rrrtretct to ba exan-atell betneen -'ubdi7ision arc', :Reti-re-nvnt System. sidirnrce or liasolution az;)raxinr enrtrAst. Q. Fprm ftr re±FcrtinE resnits %f empicyres+ olcetirr. end 3prialative a l-ta actian. ?curs trul-, Y City Council n+ City of Huntington Heach,California .�._. uianne-cr�ubl ivisi Cm1_.� ATTyST v --_ -L "�-= 6,00 Clerk � p �or .,ecreta"ry MN MM TO CONWCT BMW TEE BOARD OF MKISTFUTIOK STATE EM'L0nW a FMIMIEKT SYST""al AND THE CITY COUNCIL OF TH CITY OF H nniGTOU 1MAC11 The Board of Administration, State Employees' retirement System, hereinafter referred to as Board, and the CITY COUNCIL of the CITY OF IM I TGTON EUCH, hereinafter referred to as Public Agencyp hating entered into a contract under date of October 27, 1945, effective October 1, 1945, and as amended effective January 1t 1950) March 1, 1952.* and November 1, 1957, whiah prrovidee for participation of Public Agency in said Syaten, Board and Public Agency hereb:r agree as follows: A. Wbarever in said oereemnt the word "City" appears, the term "Public Agency" is bereby substituted. B. The following phrase is added to the sentence which co.-wtitates Paragraph limber 1 of said agreement: "except ruch-as ipply onV on election of a contracting-agency and are not provided for herein and to all ameudmnts to said I.-.r hereafter enacted except such as by. express provision thereof apply only on the election of contracting agencies." C. Paragraphs L through 15 inclusive are hereby stricken fro- said con- tract as executed October 27)' 19l:5, and as amended effective January 1, 1950l FArch 11 1�521 and NoTember 11 lWj Md are hereby replaced by the following paragraphs numbered L through 10 inclusive: 4. All words and terms used herein which are defined in the State Taployseee P.etirmwnt Lan shall have the meaning; as defined therein unless otherwise 'specifiaany provided. "Normal retire- ment age" ehall mean age 60 for miscellaneous members and age 55 for local eafety members. 5. 1/60 shall be the traction of final compensation to be provided for each year of credited current 'eervice as a miscellaneous reaber upon retirement at normal retirement age. 6. Benefits on account of each year of prior service ehall be 100 percent of the fraction of final compensation provided wader the Law and this contract for each year of current service upon retire- ment for service. Fet. Form 702-1 J d. A reasonable amount as fined by the board, payable in one in- stallment as the occasions arise,, to cover costs of special valuations on account of employees of Public Agency, and costs of tre periodical investigation and valuation required by law. 9. Contributions required of Public Agency and its employees shall be subject to adjustment try Board on account of snendments to the State Imployeast P..etirement Lars, and on szoount of experience alder the RetirWd System, as determined by the periodical investigation arm! valuation required by said P,atirement Law. 10, 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. If more or lass than the correct amount of contribution is paid for_any. . - period;-proper adjustment shall-be made in connaetion with subsequent rerittLees, or adjustments on account of errors in contributions required of any employee may be made by direct cash pa~ynents betveea the employee and Board. Payments by Public Agency to Board may be zade in the form of warrants, bank checks, ba.-* drafts, ccrtified checkaj money crdersj or cash. D. This saeadment shall be attached to said contract and shall beco�e effective on the J,aL day of /ys' d , • , - .Z Witness our hands this C=?, �a t�'- day of %=::t�� .�� BOARD OF ADMOTRATION CITY COUNCIL a the STATE LIMO r, S I RETIRErMIT SYSTM CITY OF H ATINGTON MACH Presiding tr r Attests eo ve icer .:-- -DoWd-af 57 , ket. Farm 702-3 . A=00%`T TO GOHMCT B.M.. =Wl TIM BOARD CF AMI-TISTRATICN STATE ENPY OMM I RxTYREEI'T SrS" AM TIM CITY COUNCIL OF Thy CITY Or HUI1TINGTal BEACH The Board of Ad-dmistration, State ihployeesl Retirement System, hereinafter referred to as Board, and the CITZ COU11CIL of the CITZ OF HUNTIMOT011 E ACII,, here- inafter referred to as Public Agency, having entered into a contract under date of October 27, 1945, effective October 1, 1915, and as amended effective January 1, 1950, March 1, 1952 and November 1, 1957, which provides for participa- tion of Public Agency in said System, Board and Public Agency hereby agree as foll(nm i A. Paragraphs 3 through 10 are hereby stricken fro:a said contract as ex- ecuted effective October 1, 1945, and as amended effective Js.msarf I, 1950s Harch 1, 1952 and 11ovenber 1, 19570 and are hereby replaced by the following paragraphs numbered 3 through 10 inclusiver 3. Frployees of Public Agency in the following classes end groups shall becem members of said Retirement System except each in .each such class and group as are excluded by law or this agree- ment: a. Local Firemen (herein referred to as local safety re:abers); b. Local Policemen (herein referred to as local Ba'ety mem- bers)= c. City Lifeguards employed on ocean beaches (herein referred to an local safety members); d. Eoployees other than local safety ambers (terein re- ferred to es miscellaneous rexbers). J I�. All Words and tee used herein which are defined in the State Em- plerfees' Retirement Lax sLan have the meaning ss defined therein unless otherwise epecifica13,y provided• "Horml retirsmsut age" shall mean a90 60 for M130ellan OUB gibers and age 55 for local firemen; local policemen and lifeguards. Rot, Form 702-1 y v 5. 2/60 shall be the fraction of final conpensation to be provided for each year of credited current service as a miscellaneous member upon retirement at normal retirement age• 6, Benefits on accasnt of each year of prior service shall be 100 percent of the fraction of final compensation provided under Section 21253 of the Retirement Law for each year of current service upon retirement for service, 7 The following provisions of the State Employees' Retirement Law which apply only upon election of a contracting agency shall apply to the Public Agency and its employees4 a. Section 21251.1 (providing for a guaranteed percentage of final com"nsation for each year of current service as a miscellaneous nember). b. Section 21252#4 (providing for a, guaranteed percentage of final compensation for each year of current service ea a local safetr member)* I c• Section 20024.01 (defining "final compensation" on the basis of a period of three consecutive years), I d. Section 21256(b) (providing a ninizum retirement allowance of 720*00 per year). e, Section 21367.51 (providing a $400*00 death benefit upon death after retirement). f. Section 20025 (providing for inclusion of compensation with- out limit in computations in v i.ch compensation is a: factor). g. Section 20304.5 (providing for an election by 4embers to contribute and receive current service credit for the ser- vice rendered prior to membership)* h Section 20019.3 (providing for inclusion of Weguards on ocean beaches as local safety members),. i.. Section 21251.3 (providing for increases in allowances to persons slreadcr retired. $. Public Agency shall contribute to said Retirement Syst m as follows 8.6 6.051 percent of total salaries each month for 25 years ss the years elapsed between the effective date of the contract and the effective date of this amendment, on account of the liability for prior service, b• 9.792 percent of total salaries paid by Public agency peach month. to its employees who are and hereafter become Retr Form 702-2 - KARL W. AUR'CNA►MAN LEN C.FIAIGMT •Z7IlCUT1VE OFFICER STATE OF CALIFORNIA - ACTUARY KmAI{o K.Coowes BOARD OF ADMINISTRATION A!!1lTANT Z><ECUT1YE OFFICER CIate rill fn uve5, ��dirriimtt C ustvin 1320 K STREET SACRAMENT0 T4 23 • - {J Ta=a 1% 3.955 _ PL[ASE DIRECT YOUR REPLY TO SECTION RCPKR TO MEMBER ACCOUNT NUMIER ' �1�itlYirl! � C" JAN' 10 1s55 yy tV City of Huntington Beach City Ha}1 Fh ntington Beach, California Attention: Mr. John Le Henricksen Centlenen: Enclosed for your^file is a copy of the contract between your Agency and Coates, Herfurth and England, Consulting Actuaries, as approved by the Board of Administration. The contract is for the work to be performed by the Consulting Actuaries in connection with the quadrennial valuation as of June 30, 1954. Yours truly, ­ '1;61 Ce HAIGH ACTUARY fiC _ Encl. Ret. Form 891 12/54 350 r— E1..'..L W.CNAPMAN 1 RALRM R.NEL.ON ExrCUTIV;OFFICER STATE OF CALIFORNIA ACTUARY EOwAROK.Coomas BOARD OF ADMINISTRATION LAURENC.1WGKT ASSISTANT EXECUTIVE OFFICER ASSISTANT ACTUARY hate !:*Illvftivms' �Ivtirriitvitt cIlslvlll 1320 K STREET SACRAMENIT0 ]a PLEASE DIRECT YOUR RELY TO SECTION REFER TO MEM.6R ACCOUNT NUMRLR CONTRACT OF CITY C+` MMTMTCK MACH ,JName or Fu-mc Agency with the Firm of COATES., IR:P.FLT,3TH AIM 21TGLAND, CONSULTING ACTUARIES.$ for making an investigation and valuation as stated herein. 1. This AGREMUT made this bth day of December, , 1954 , by and between the CITY COUNCIL �— of min- l EACH , ereinafter referred to as Agency, and C ATES, FUR -H ard EKGI,AI,I , a co- partnership composed of Carl E. Herfurth, Arthur W. England, and G. Frank 1-faites, Consulting Actuaries, hereinafter referred to as Actuaries. WITITESSETH: 2. Agency herewith engages ar.d retains the services of Actuaries for the following workt a. To make as of June 30, 1954, with reference to persons who have been and are members of the State Erployeest Retirement System with credit for service rendered as eirployeeo, the investigation and valuation provided for in Section 20127 of the StateEmployees' Retirement Law, the results of said investigation and valuation to be the basis of deterirination by the Board of Adzrinictration of agy necessary adjustwnt in the contributions required of Agency under the contract between its legislative boctv and said Board. b. To make as of June 30, 1954, such valuation of assets and liabilities as may be necessary to determine the contribution which would be required of Agency if it subjected itself and its employees to certain amndr.nts to the Retirement Law. The Actuaries' retorts with respect to said amendments shall be as follows: NONE Ret. Fora 424-1 (Rev. 9/54) 2CC0 i 3. It is assumed that the er:ployees of the Agency of tWs merabpar classifications and that there will be included in the valuations persons who are members or who are receivir:g retirement allowances because of service rendered to Agency. 40 Should Actuaries encounter in the valuation arty unusual situation or should Actuaries be requested by Agency to rake further valuations of different combina tiors of benefits and contributions, which might require an additional experditu:•e of tirce, said situation and request shall be brought to the attention of the Bca.M of Administration, State kr.ployeest Retirement System for further consideration, It is understood that the tire expended in connection with said unusual situation and further valuation, is not included within the fee stated herein, 5. Agency and Actuaries understand that said Board of Administration will furnish to Actuaries, the data relative to persons f:ho are members of said Retirement System with credit for service rendered as employees of Agency, necessary for performs:^e of the work described in paragraph 2. Beth parties also understand that said Board of Administration trill mare available to Actuaries, various tables and schedules of rates based on the experience under said Retirement System arrzng bens thereof, as determined in current and previous investigations and valuaticn-- . Both parties understand, further, that in accordance with said Retirement Law, t_!e work to be performed by Actuaries shall be performed under the direction of the Actuary of the Retirement System, and that all data in connection with said work, including work sheets, final results, and reports from Actuaries, shall be the property of the Board of Administration and shall be delivered to said Board at the conclusion of said work. 5. For the full perforr:ance and completion of _said services, Actuaries shall receive frorr. Agency, the following amounts: For Work provided in sub-paragraph a. of paragraph 2 hereof $5.60 For work provided in sub-paragraph b. of paragraph 2 hereof Total 090 Subject to adjustment on account of variation in the number of employees for whoa data are submitted as provided in paragraph 5 hereof, from the number of such err_r. ployees stated in paragraph 3, and subject to arry adjustment made on account of ar„r unusual situation, or on account of further valuations of different combina- tions of benefits and contributions requested by Agency, as hereinbefore provided. Agency agrees that the sure fixed in this paragraph as compensation for the services to be performed by Actuaries, shall cover only the calculations and conferences between the officers and erntloyees of the Board of Administration and Actuaries, necessary in the performance of the work, excluding conferences between Agency and Actuaries. It is understood and agreed that Agency shall deal only through said Board of Administration. Ret. Form 424-2 (Rev. 9/54) 2000 r.......r.r,..�.r..r wiw.rrr.r a.aar■... - 7. Actuaries hereby agree to render the services herein provided for and to complete the sane in a satisfactory and expeditious manner. Actuaries shall furnish to the Board of Administration, in addition to data provided herein to be furnished, a written surrary in duplicate on the Retirenent System's fora, of the results of the calculations rade under this agreement and the compensation provided for here- in shall be payable by Agency when such sunnary is delivered to the Board of Administration. 8. This contract is rade and entered into in accordance with the provisions of Chapter 4 of the State Erployees' Retirement Law, and is subject to the provisions of said Law. WITNESS OUR HXNDS the day and year first above written. GTTI Or MONTINGTON HEM Wa;.Te gency SSL By ayor Approved by the Board of Administration, By STATE II`.P MES1 RETIR RENT SYSTEM, at the meeting held City Clerk 3�N 14 19� flit e Date COATES, HERFURTH AND Et:GLA M, a co- partnership composed of: Carl E. Herfurth By _ 1— Arthur W. England r�cecutive Of cer G. Frank Wai.tes BY =01�54 U3 Ret. Fcrm 424-3 (Rev. 9/54) 2000 EARL W.C►IAPMAN RALPH R.NELSON EIYCUTIVEOEFICER STATE OF CALIFORNIA ACTu�RT I DWARD K.COoMBS BOARD OF ADMINISTRATION LAUREN C.NAIGNT ASSISTANT EECCUT IE OFFICER �� ASSISTANT ACTUARY . Ink C:111plat1rrs, �Irtlirriilrlit �tmtrttt 1320 X STREET SACRAMV4TO 14 PLEASE DIRECT YOUR REPLY TO SECTION REFER TQ MEMBER ACCOUNT NUMBER • COZITRACT OF (Name of Public Agency with the Firm of COATES., . TH AND MOLAND, COA?SULTILM ACTUARIES$ for making an investigation and valuation as stated herein. 1. This AGREMNT made this 6th day of December , 1954) by and between the 9T?T COMA of , hereinafter referred to as Agency, and COATES, HMFLTRTH and EY-G .a , a co- partnership corposed of Carl E. Herfurth, Arthur W. England, and G. Frank Waites, Consulting Actuaries, hereinafter referred to as Actuaries. WITNESSETH: 2. Agency herewith engages and retains the services of Actuaries for the following irork t a. To hake as of June 303 1954) with reference to persons who have been and are members of the State Erployeesl Retiroment System with credit for service rendered as errploycea, the investigation and valuation provided for in Seetic,n 20127 of the State Er:ployeesl Retirement Lair, the results of said investigation and valuation to be the basis of determination by the Board of Administration of ary necessary adjustment in the contributions required of Igercy under the contract between its legislative roar and said Board. b. To make as of June 30, 1954, such valuation of assets and liabilities as may be necessary to determine the contribution which would be required of Agency if it subJected itself and its employees to certain amendments to the Retirement Lair. The Actuaries' reports trith respect to said amendments shall be as follcum; WIM Ret. Form 424-1 (Rev. 9/54) 2CCO 3. It is assurred that the erployees of the Agency are of U-a mmnbmr clasaifications and that there Srill be included in the valuation 124 persons who are rmenbers or who are receivir:g retirer+.ent allowances because of service rendered to Agency. 4. Should Actuaries encounter in the valuation any unusual situation or should Actuaries be requested by Agency to rake further valuations of different corbina • tiors of benefits and contributions, which might require an additional experditu:•e of tima, said situation and request stall be brought to the attention of the Bcazd of Administration, State Employees' Retirement System for further consideration. It is understood that the time expended in connection with said unusual situation and further valuation, is not included within the fee stated herein. 5. Agency and Actuaries understand that said Board of Administration will furnish to Actuaries, the data relative to persons who are irembers of said Retirement System with credit for service rendered as employees of Agency, necessary for perforr„.Lr.^e of the work described in paragraph 2. Both parties also understand that said Beard of Administration trill make available to Actuaries, various tables and schedules of rates based on the experience under said Retirement System arrong rP,_- bers thereof, as determined in current and previous investigations and valuaticnz. Both parties understand, further, that in accordance with said Retirement La) tho work to be performed by Actuarieo shall be performed under the direction of the Actuary of the Retirement System, and that all data in connection with said work, including work sheets, final results, and reports from Actuaries, shall be the property of the Board of Administration and shall be delivered to said Board at the conclusion of said work. 6. For the full performance and completion of said services, Actuaries shall receive from Agency, the follavrirg amounts: For work provided in sub-paragraph a. of paragraph 2 hereof $155,6o For work provided in sub-paragraph b. of paragraph 2 hereof Total - 91,55.60 Subject to adjustment on account of variation in the number of employees for whom data are submitted as provided in paragraph 5 hereof, from the number of such e:r" ployees stated in paragraph 3, and subject to ary adjustment made on account of any unusual situation, or on account of further valuations of different corbina- tiors of benefits and contributions requested by Agency, as hereinbefore provided. Agency agrees that the surr. fixed in this paragraph as corpensation for the services to to performed by Actuaries, shall cover only the calculations and conferences between the officers and employees of the Board of Administration and Actuaries, necessary in the performance of the work, excluding conferences between Agency and Actuaries. It is understood and agreed that Agency shall deal only through said Board of Administration. net. Forn 424-2 (Rev. 9/54) 2000 4 y � 7. Actuaries hereby agree to render the services herein provided for and to corplete the same in a satisfactory and expeditious manner. Actuaries shall furnish to the Board of Administration, in addition to data provided herein to be furnished, a written surmary in duplicate on the Retirement System's fora, of the results of the calculations made under this agreement and the corpersation provided for here- in shall be payable by ACency when such summary is delivered to the Board of Administration. $. This contract is made and entered into in accordance with the provisions of Chapter h of the State Enployees' Retirement Law, and is subject to the provisions of said Law. WITNESS OUR EXU S the day and year first above written. CITY OF HUhTIN►GTON EACH ncy as ay Mayor4-1 Approved 17 the Board of Ministration, Ii _ Q.rfiv -- STATE EVIAYEESi RETIREMENT SYSTEI•13 at the meeting held . City Clerk Tit e - Date COATES, H RFURTH AID EhMLAED, a co- partnership composed of: Carl E. Herfurth B,r Arthur W. England Executive 0111cer 0, Frank Wattes BY r Ret. Fcrn 424 3 (Rev. 9/54) 2000 ` Buto OF ADMINISTRATION J� EARL W.CHAPMAN EXECUTIVE OFFICER DONALD GALLAGHER.PRE.IpEMT ..... ,�. WALTEjt C.K9NNCDY.Vicc PRKatocNT RALFH R.NELSON JOHN R.CORNWELL � ACTUARY RALPH H.COW1NO - JA►YS S.DEAN EowARo K.Coowes TNXOoORE H.3ENNER ASSISTANT EIECUTIVE.OFFICER ROY C.PLOSS HAROLD H.ROrIH.ON STATE OF CALIFORNIA LA° 4KT BOARD OF ADMINISTRATION ;y Idirrntrztt �Ustrni MEMO 1220 K STREET MAR 191952 SACRAMENT0 14 March 18, 1952 PLCA.e blREer YOUR REP cnoN REFER TO MEHMER ACCOUNT NU.E City of Huntington Beach City Hall Huntington Beach, California Attention: Mr. J. L. Henrickson Gentlemen: The Board of Administration has approved the Amend- went to the Contract between the Huntington Beach City and -� the State Fnployeesl Retirement System. The Amendment, al- ready executed by the'officials of said Agency, has now been executed by the officials of the Board of Administration on March 14, 1952. A copy of the amended Contract is enclosed for your files. Very our EA.TtL W. CHAPMAN, EXECUTIVE OFFICER. me encl. Reso. 1164 AND IF, C1?r C4L6MIL OF ME The Board of Adinimi.strationx State tx.�a Ioyees f Retirement Syast mx# aaxA tbs CITY COMICl,L of the CITY OF, 11M7 1113 ' . MACH herel fter referred to as Agency* having; entered into a contract untler date, of October 27a 1945,a effective Wtdber Is 1945) which proNldes for tho pant i cipazti an of said of vncy said lxet ter r t yraat r c3 said Contract being 'tin Vic Rptirement. Lair es thst'Law existod. prior to amend- rants adeptod in 1949s said Board of A.0 i,ni.stnration and raid CITY COUNCIL hereby ado to aa« nd vai.d,Gontrp-ht; an follows 1. ftragraph 6 0f "id, Iontract sha . be and is hereby stricken from said contract, to The foz7,lvui, la .41 is eta 1 be added to said Cont chi for Ace benefits to rdecell aneous members en d by Public a�Cency t ie,, rwTilbero other than LooaEl, rimmens Local PoUcei en# or flaunty Pence Officers„ ups ret irenent for services ashal,l be allowed o as aa. ' rcentaCe of the Lvera a salarr specified In Section 22292 raf',saicl jrxtiremeiit Lawn, for cacti year of ouch services and. saidper- caea�its c 11 t 7 per cent of t percentao detaerml Cei o ;Vb1' Ve o: rastirement. 13. Abe simll be the rdnl age for retiraem t for service of persons ahoy are a"re bsoanse of exployment by Public Agency an dal Fiore- zr Imal 1116licament or County Pew* Officers and Vis provisions Section 21252*4 of the State Implcaysas' ctirenta *s rorndinC ,for, as guaranVeRI-Rercentace of final compensation for each year of current service as a. rumor# SUM, apply to ouch nmbers, 16 the retirement alloaw moos of personas who were xembers bsoause of am- p ay nt by Public Agency wA who were retired prior to the effective data of this , ndmnt shall be re"Iculated on the basis of this contract, but in no event shall any allowance be decreased, and said allowances sluill be Paid for time begins Vith the effective date of this &-.wndmnt in the recalculated a ountro Paragraph 8 of th-te contract shall apt to pervons rotirad irior to the effective date of this ariandraent and 'hose deatti occurs while r eivin a reti.remnt allowance based on time after said effective date because of emploaysent by Purbl c Agency, 15. The proviviorns of Section 2{f , of the state pl esc Retirement Law: providing for an elecby "abers to contribute for the first six mon is of service SUM apply to employees of Mlic Ags=7 who an the effective date of TFV a" a mnt &ve nerker,s or t ereafter beery ,n`'bers of said Reti.rerm xt Symtexo . ParaZmph M of said Contnmt stall, be amended ended to reads The mn of °" 69# per annams or more frequent installments as Board ,shall, req re,a tar Us pert d of years stated in said Con- tract# lose the time elapsed frM the date of participation to the elVe+cti.ve, date hereof. Reso. 1164 The percent stated in pariggraph"llb shall be amended to read 6.B19 instead of 8.852. 5. Benefits., including retirement allowances, prior to the effective date of this amendmentp shall not be affected by this amendment,, except as other- wise provided herein. 6. This &nbadmbnt shall be attached to said contract and shall be effective as of 1 , 1952 .�YI✓� March 51 Witness our hand this y day oft --� A to VtY Cit CITY COUNCIL OF Clerk THE CITY OF HUNTINGTON BEACH BOARD OF ADMINISTRATION jj 1 STATE EMPLOYEES' RETIREMENt SYSTEM BY�P4 ng Of cer BY r Pr& Oldent Attest: uutyt 1 ' Exe6utive, fficer MAR 141952 .moos ' `. �+, �► _,._�.'_ -1 ! EARL W.CHAPMAN [:OARO GF ADr-N rs r11+1T1o% �1 r' ��• ,� - f�t ± WICYTIYE 11tC11ETARY THOS. E.STANTON.rR[.IDENT r� RAL►H R.R.NELSON H.H.BcMLarcT � r' L''•" r� ActuARY JOHN R.CORNWELL 5-1 AT UviFLUYEE;, DONALO GALLAGHER j - �� � �NT S R FORA A.CHATTERS RTE' ,l JkMEs DEAN WALTEOSEPH H. TE HEDY N% STATE OF CALIFORNIA JOf[rN }I.ST[INLNf ~� ~ #��e m In ors ettr ,• LIAR, 15 }G45 s I 102 STATE OFFICE 8WL.DING NO.1 TENTH AMa L STREETS LL 1 tt� J SACRAMENTO 14 I�U1 rH ��4 frry 4 [•+•rtpv 1+�� u. . .' CGt'�'I'11C i OF AL CITY DE ]ONTINW01 WAM hame of Subdivision) With the i FIR11 OF COATS AND HERFURTH, C:JTSULTItiG ACTUARIES, for determining apprcxirate contributior_ which would be required of subdivisicn by its participation in State Employees' Retirenent System 1. THIS AGREEMITT made this2L day of January 19 ER by and between the CITY 02imallof the City Council, bcard of Supervisors or Governing Bcard CITT-:fi tr%7 !XCTj': U.-AIM , as party of the first party and Ccates and game of Subdivisior. fiorf,xrth, a cc-partnorship composed of Barrett No Coates and Carl E. Horfurth, consulting actuaries, parties of the second part. � ITNIZSETH: 2: The party of the first part herev-ith engages and retains the services of the parties of the second part to rake such irvostigation into the employment ex- perience of the party of the first part, and such valuation of the benefits and contributions provided ir. the Stata .Enployeest Retirem-ent Act, as may be necessary to determine the approximate as distinguished from the definitive contribution: which would be required of the party of the first part because of said party's participation in the State EMployeast Retirenent System, upon the assumption that caid participation will be effective ma_ y ! , -19A, and .upon_ the further -- assumption that the cumber and classification of said party's employees whose memberships are contemplated in said participation are as follmsrs: F113-1 1-40 200 STATE Z.,,-OLOYEES' RETIREMENT ..- "STEM SACRAMENTO, CALIFORNIA Contract � OCT `� 1 v 1J R 9 `rJJ BETWEEN + STATE E"4r';. - - E RETIREMENT f6,-t'vrF-M _ CITY COUNCIL NAME OF LEGISLATIVE BODY OF CITY OF HUNTINGTON BEACH NAME OF MUNICIPAL CORPORATION AND THE BOARD OF ADMINISTRATION OF THE CALIFORNIA STATE EMPLOYEES' RETIREMENT SYSTEM this agrament made this-------- of-----------October --------- ' 194_-.5___,by and between the Legislative Body of--------------r+lt-__Of_HUYIUn1o021__BPa(3Y1 - - - ,----------------- Name of Municipal Corporation hereafter referred to as "City," and the Board of Administration, California State Employees' Retirement System, hereafter referred to as"Board." WITNESSETH: In consideration of the covenants and agreements hereinafter contained and on the part of both parties to be kept and performed,City and Board hereby agree as follows: 1. City is to participate in the State Employees'Retirement System,subject to the provisions of the State Employees' Retirement Act. 2. City shall participate in said Retirement System, making its employees members of said System, from and October 16t ---_-, 194--_--5 after----------------------------------------- 3. Employees of City in the following classes shall become members of said Retirement System in accordance with the provisions of said Retirement Act,governing membership in said Retirement System,and subject to the further exclusions from membership in the next following sentence: NUMBER OF EMPLOYEES _ MINIMUM AGE ELIGIBLE FOR MEMBERSHIP -FOR VOLUNTARY CLASSES OF EMPLOYEES SERVICE RETIREMENT ON__-_-Oetober---1-- 194_-5 a. City Firemen,as defined in Section 40-of the s" f State Employees' Retirement Act . .s - ---------------------------------7--------------------- -----------------------------55------------------- b. City Policemen, as defined in Section ob of V� the State Employees' Retirement Act . f c. Employees other than City Firemen and City �r Policemen _ _ _ _ _ _ _ _ _ _ _ -------------------------------35-----_______________ As provided in the Retirement Act F 126A Iri addition to the emph( excluded from membership by said Retiremek }ct, the following employees shall not become members of the Retirement System: NO ADDITIONAL EXCLUSIONS / Board and City agree that, except as provided in paragraph S, no adjustment shall be made in the amount of contributions provided in paragraph Sa, on account of prior service, or in the percentage provided in paragraph Sb, because of variations in the numbers of employees who become members of said Retirement System on the effective date hereof, from the numbers listed above,due to termination of service by such causes as death, resignation or discharge, or the employment of individuals not included in said numbers. - i i 4. Benefits on account of prior service, that is, service credited hereunder as rendered to City prior to the effective date hereof, shall be allowed to city firemen and city policemen and to other employees, only as percentages of the respective average salaries specified in said Retirement Act, for each year of such service, and said percentages shall be equal to 1Q0-------per cent of the analogous percentages now used under said Retirement System in calculating benefits on account of prior service, allowed to members of the California State Highway Patrol and to other employees of the State of California, respectively. i i i S. City shall contribute to said Retirement System as follows: a. The sum of eer ann m, payable in equal monthly or less frequent installments as Board shall require, for a period of__-_�__ 'fears, on account of the liability for benefits based on service rendered to City prior the effective date hereof. b.9._2g4___ er cent of total salaries paid by City each month to its employees who are members of said Retirement System, provided that only salary earned as members of said System shall be included in said total salaries, and that employees who are members of said System shall include employees who become members upon the effective date hereof and employees who become members thereafter. c. A reasonable amount as fixed by Board, payable in equal monthly or less frequent installments, as Board shall require,to cover the costs of administering said System as it affects the employees of City, not including the costs of special valuations or of the,Qeriodi�Al investigation and valuation required by law, provided that said amount shall not exceed $_____?—a___ ________----per fiscal year per member, on the basis of the number of employees of City who are members on July 1st of the respective fiscal years, or with respect to the first year of participation, on the effective date of said participation. d. A reasonable'amount as fixed by the Board, payable in one installment from time to time as the occasions arise, to cover the costs of special valuations on account of employees of City and the costs of the periodical investigation into the experience under said Retirement System, as it affects said employees, and the valua- tion of the assets and liabilities of said System on account of said employees. Contributions required of City and its employees shall be subject to adjustment by the Board of Administration on account of amendments to the State Employees'Retirement Act, and on account of experience under the Retirement System, as determined by the periodical investigation, valuation and determination provided for by said Retirement Act. 6. Contributions required of City under paragraph S immediately preceding, and contributions required of City's employees who are members of said System, shall be paid by City to the State Employees' Retirement System within thirty days after the end of the month or longer period to which said contributions refer. If more or less than the correct amount of contribution required of City or its employees is paid for any period, proper adjustment shall be made in connection with subsequent remittances of the City to the Board, to rectify the errors; or such adjustments on account of errors made in contributions required of employees, may be made by direct cash payments between the employee in connection with whom the error was made, and Board. Payments of City to Board may be made in the form of warrants, bank checks, bank drafts, certified checks,money orders,or cash. 7. The provisions of Sectio( a_ _of the State Employees' Retirement Ace --------------------SHALL t� apply to employees of Subdivision,who become members of said Retirement System. "shall"or"shall not" WITNESS Our,HANDS the day and year first above written. -----------=---------------City-Gaune il----------------------------of Name of Legislative Body City of Huntington Beaah ------------------------------------------------------------------------------------------------- Name of Municipal Corporation O ATES By f ----------- --------------------- s aa0.ayOr Presiding Officer ----—------------------------------------ -------------------------------------------- Clerk BOARD OF ADMINISTRATION ATTEST: STATE EMPLOYEES' RETIREMENT SYSTEM ---- ---------------------------- ------ --- ----------------------------- By--------11 --- l Secretary President,Board of Administration 44334 4-45 200 SPO s � - • i * \� `may 1 Board of Administration_ State Employees' .ietirerrert System Sacrame tc, California Gentlemen: Paving received frcrr. the Consulting Actuaries through the Ecard cf A'cµJ istraticn, a statement of the apprcxir•ate as distinguished from the defini- tive contribution to the State Dr.ployees' Retirement Syste:s, which would be required of the a 12 . CallfQr-,IJI. because of its flame or ubdivisicn Yarticipaticn in the ietire:nent System,-rrc ncv:-desire to proceed with the steps necessary for such participation. It is cur present intention 1. To allow benefits on nocount of prior service, that is, service credited hereunder as rendered to Subdivision prior to the effective date hereof, to city firemen. and city pclicemen and to other employees, enly.as percentages of the respective average salaries specified in sriid Retirement Act, for each yet,r of such service, and that said percentages shall be equal to OiRe Hund per cent of the analcgous Such as ' 5t� , "7,� ', "1 J0 percentages now used under said 1etire.-ent System ir. calculating benefits on account of prior service, alk ed to members of the California State•:iighway Patrol end to other employees of the State of California, respectively. 2. To liquidate the liability for benefits to be grnnted cn account of prior service, over a period cf Twenty five years. (20, z5 or 3o 3. To include All city firemen and all city .policemen - - - `- Enter a11 -or any of`City rire:ner. ;` City policemen ,All other employees _ subject "&.plcyees other than City FireLLer. and City j�oliceren"' tc the approval of said groups. 9. Tc crake participation effective July lot, i9 4g •- ra. To g� r y _ the prcvisios of Secticr. 64 of "To apply "not to apply" the State .Dnployees' Retirement Act to members who are er.plcyecs of Sub divi sior.. F121b 2-42 1t0 bo�RD o�ADrixuTrrAtEox 1 EARL W.CHAIMAN Awl/ ■11Eeotlre aEeRarARr TlfOa.E.STANTON.TRar1D9NT ` �^ H.H.BENEDECT RALpm R.NELSON JOHN R.CORNWELL ACTUARY DONALD GALLACHER JOHN J.HAMLYN . JONN F.HAa1LER WALTER C.KENHEDY STATE OF CALIFORNIA Jnac�K}I.RttlHsNs ,$#ttir myfagrrs' �rfirrnirnf �gstcnt f 102 STATE OFFICE OVELDING No.1 Yr. C. R a Purr TENTH AND L 6TREETa City Clerk, City Eall• SACRAMENT0 to Ha tinttaa Beach, California; January 8, 105 Gentlemen: r You have requested that the Board of Administration furnish a quotation of the approximate, as distinFuishid from the definitive contribution to the Stcte Employseal Retirement System which would be required of the CITY OF BUMINVON EFJ!CH CITY OF EUNTINGTON EEACH of , facause of own'" 11C ty,° "County," or "School District" Name of Su division) . Its participation in the State Wrloyees, Retirement System. You asked that, before making arrangements for the investigation and valuation required in the determina- tion of the approximate contribution, you be furnished with an epproximate cost of the erork. An approximate statement of the cost follows, subject to the understand- ing that charges fur the work kill be base& on the number of employees and that the ultimate amount may Tar; slightly either above or below the amount here quoted if thenumber of employees in any classification varies from the number given below: Minimum Age for Voluntary Classification Kumber Service Retirement 'Estimated Cost 1. City Firemen, as defined ) in tre State Employees, ) Retirement Act. 7 2. City policemen, as defined j ) in the State Employees, ) ) -. Retirement act. 3. Employees other than City As provided In the } Firemen and City Policemen. �2- � Retirement Act ) $ 235- 0 It is understood that assumptions as to prior service benefits, shall be in accordance with your request. Upon notice from you on the enclosed form, that alter receiving the fora- going estimates of cost, you have decided that the investigation and valuation shall be trade, the Board-of Ada:inist tiIItt�cili:Ilr�,ieh_�_c pact to be• :ozecuted+ ;,y ;:u and the consulting actuary chosen by-the Board, and also forms upon which the data about your employees, necessary for the investigation and valuation, will be lilted. Yours truly, BO.a?D t; AU - ']S iT.P 01d F '!ICTORY ST.M {"j.�.".� ,z= 2 Tl` SiCrZ_2: RE111 12-39 10:, B ssAras rlMai IOMD� .F.id1O/ • { first part stall deal with the parties of-the,s.erana-part only throuCh said Board of Administration. 6e The parties of the second part hereby agree to render the services herein provided for and to complete the same in i satisfactory and expeditious can- ner. The parties of the second part shall furnish to the Board of Administration, in a�'.Ution to data provided herein to -be furnished, a written awt:ary in duplicate of the results of the calculations Me under this agreement and the conpensatio n provided for herein shall be payable by the party of the first part When such sunmary is delivered to the Hoard of Administration* 7. This contract is made and entered into in accordance with the provisions of Section 5$b of the State Employees' Retirennnt Act, and is subject to the pro- visions- of said Act. WITUSS O R HODS the day and yew first First above written. City Council of ['"City Council," :'card of Supervisors nr -- - - - -Z "Governing Board!') -- - - -- ------- - --- - unties t' a^..c o Su d visic .) �- BY 4CIOrorSecretary COALS AND IiERFURT" . co-rMnership canposed oft. Barrmtt Q Coates Carl Q Herfurth BY Approved by the Board of Administration, Stat�PI�loyees! Retirement Systen, at the meetin- held r�xe ctit ive S e cre y F113-3 '1&0 200 Hinirmum Age for Voluntary Classification Number Service Retirement 1. City Firomsn•, an defined in Section 8c of the State Employees' Retirement Act. 2. City Policemen.; .as defined in Section Ab of th+ State Employees' Retirement Act. q 3. Emoloyees other team City Firemen and City Policemen 3 9 Ask providod in the Retircnort Act 3. Should the parties of the second part encounter in the valuation any unusual situation or should said parties of the second part be requested by the party of the first part to make further valuations of different cem•.binations of. benefits and contributions, which might require an additirnal expenditure of tine, said situation and request shall be brought to the attention of the Eoard of Administration, State Employees' Retirement System, for further consideration. It is understood that the tire expended in connection with said unusual situation r and forth-.r valuation, is n-t included within the fat) stated herein. 4* The party of the first part agrees to furnish to the parties of the second Fart, through said Board of Administration, the data relative to its 'em- ployees, past and present, necessary for the determination of said approximate contribution. Both parties understand that said Board of Administration will make available to the parties of the second part various tables and schedules of rates based on the experience under said Retiremont System among members thereof, as determined in previous investigations and valuations. Both parties likewise understand that in accordance with said Retire-wnt Act, the work to be performed �by the parties of the second part shall be performed under the direction of the actuary of the Retirement System, and that all data in connection with said pork, including work sheets, final results, and reports from said Parties of the sec- and iArt, stall-be 'thv 7mrarby of tre Board of Administration and shrill be 4elivered to said Board at the eonclusiort of said .Pork. 5. For the full performance and completion of said services, the parties of the second part shall receive from the party of the first part, the sum of , subject to adjustment on account of variation in the number of em- ployees whose membersrips are contemplated, and for whom data are submitted as provided in paragraph 4, hereof, frcn► the number of such employees stated in para- graph 2, and subject to any adjustment made on account of any unusual situation, or on account of further valuations of different combinations of benefits and contributions requested by the party of the first part, as hereinbefore provided. The party of the first part agrees that the-sum fixed in this paragraph-as oe�a- `pensation" for the services to be performed by-the- parties--of-the-second• part, shall cover only the calculations and conferences between the officers and employ- ees of the Board -of Adninistration and the parties of the second part, necessary in the determination of said approximate as distinguished from~ the definitive contribution, excluding conferences between said party of the first part pnd parties of the second part. It is understood and agreed that the party•of the P113-2 1-40 21V r � Huntington Beach,Calif Jan 16 1945 i Board of Al inistraticn State Employees' Retirement System Sacramento, California Gentlemen: Having received from you, a statement of tho approximate cost of the investigation and valuation required for the quotation as horoto£ore requested, of tho approximate as distinguished froza the definitive contribution to the State M.-ployees' Retirement System which would be required of the City of Huntington Beach because of its participation in the (name of subdivision) Retirement System, we now desire that you proceed with the investigation and valuation, You are requested, thorefore, to forwtrd the contract to be executed between the 11unieipal Corporation ("County," "?.Municipal Corporation," or "School District") end the consulting actuary chosen by your Board, and also forms upon which th© necessary data about then subdivision's criployees will be listed. Yours truly, City Council of ("City Council," "Board of Supervisors," or "Governing Board") Ztan each (1' o ision) BY Jerk or Secretary F 112 12-42 100 , NOV 101949 Board of Administration State Employees' Retirement System Sacramento, California Gentlemen: I hereby certify to the following facts: 1, That the employees of the City of Huntington Beach, hereinafter referred to as "Agency", have expressed their approval or disapproval of the amend- ment to the contract, which provides for participation of said Agency in the State Employees' Retirement System by the following vote in an elec- tion conducted on the 7th day of Octobers y 1949, in the manner prescribed by y the governing body of the Agency: Number of votes Number of votes approving said disapproving said amendment amendment Disc. Employees ........ 66 Misc. Employees ....... 1 Police & Fire Dept. .... 23 Police & Fire Dept. ... 0 89 1 2. That the City Council of said Agency adopted on the 19th day of 'September 1949s a resolution with a copy of the amendment attached, giviing notice of intention to approve an amendment to the contract which provides for t}mparticipation of said Agency in the State Employees' Retirement System, a certified copy of said resolution, in the form furnished by said Board of. Administration, being attached hereto. 3. That the City Council of said Agency adopted on the 7th day of Novembers 1949, and by the affirmative vote of two-t irds of the members of said governing body, an ordinance approv- ing said amendment-to the contract which provides for participation of said Agency., in the State Employees' Retirement System, a certified copy of said ordinance, in the"form furnished by said Board of Administration, being attached hereto. Yours truly, (Clerk orsecretary) CITY OF HUNTINGTON BEACH Name ofAgency) ORDINANCE NO. 552 �'• � . . *.�_. , y, ,. AN ORDINANCE OF THE CITY OF HUbTPINGTON BEACHO CALIFORNIA, AUTHORIZING AN A?Zh'D- IMW TO THE CONTRACT PROVIDING FOR THE vY r PARTICIPATION OF THE CITY OF HUNTINGTON BEACH IN THE CALIFORNIA STATE EIYLOYEFSI I3ETIR0WIT SYSTEM, WING ITS EMPLOYEES IlEI!ERS OF SAID SYSTEM, The City Council of the City of Huntington Beach* California* do ordain as followss Section la That an amendment to the contract providing for the participation of the City of Huntington Beach in the State Employees$ Retirement System, is hereby authorized between the City Council of the City of Huntington Beach* California, and the Board of Administration,, i California State Employees+ Retirement System* a"copy of said amendment being attached hereto* .-tearked "Exhibit kl$, and by such reference made a part hereof as though herein set out in fulle Section 2% The Mayor of the City of Huntington Beach is hereby authorized* empowered,$ and directed to execute said amendment for and on behalf bf said City. Section 3s This Ordinance shall take effect from and after January l* 1950, and prior to the expiration of fourteen days from the passage thereof shall be published at least once in the Huntington Beach News* a newspaper of general circulation, published and circulated in the City of Huntington Beach* and thenceforth and thereafter the same shall be in full force and effects El) l� 7. The provisions of Section 21258b of the State Bmployeesse Retirement Law, guaranteeing az minimum retirement allowance under certain conditions shall apply to parsons who are members because of employment by Agency. 8. The provisions of Section 21367.5 of the State Employees' Retirement Lary, providing a $300 death benefit after retirement shall apply to persons who are meembe;re because of employment by Agency. 9. The provisions of Section 21251.1 of the state L"mployeese Retirement Law, providing for as guaranteed percentage of final compensation for each year of current service as a member, shall apply to persons who are miscellaneous members because of employment by Agency. 10. " The provisions of Section 20025 of the State Employees' Retirement Law, providing for the portion of compensation to be included in computations under said Law, shall apply to persone who are members because of employ- ment by Agency. 11. Agency shall contribute to said Retirement System as followel Via. The sum of $9,756.00 per annum, payable in equal monthly or less frequent installments as Board shall require for the period of 25 years less the time elapsed from the date of participation, to the effective date hereof. b. 8.852 per cent of total salaries paid by Agency each-month to its employees who are members of said Retirement System, provided than only salary earned as members of said System shall be included in said total saal.aries# and the employees who Are members of said System shall include employees who become members upon the effective date hereof and employees r-ho become members thereafter. c. A reasonable amount per annum, as fixed by Boards payable in equal monthly or lose frequent installments, as Beard shall require, to cover the costs of administering said system as it affects the employees of Agency, not including the costs of special valuations or of the periodical invectigation and valuation required by law, provided that said amount shall be determined on the baaiis of the number of employees of Agency who are members on July let of the respective fiscal years, or with respect to the first year of parti- cipation, on the effective date of void participation. d. A reasonable amount as fixed by the Board. payable in one installment from time to time as the occasions arise, to cover the costs of special valuations on ,account of employees of ,Agency, a nd. the* costs of the periodical investigation into the-experience, under"said Retirement System, as it affects said employees, and the valuation of the assets and: liabilities of said System on account of said employees. 0ontri- butions required of Agency and its employees shall be subject to adjustment by the Board of Administration on account of amendments to the State k.,mployeeese Retirement Law, and on account of experience under the Retirement System, as determined by the periodical investi- gration, valuation and determination provided for by said Retirement Law. v NOV 2 .S 19! AMIMMEXT TO 00'i 1, .A '+ ',"YIN }!i «,\r"„� yWA" BOARD OFADMINISTRATION, SzAT1 aM LOYR;Se R klREW11T Sy Stt1 1! NUV Z 91949 AM CITY COUNCIL OF THE CITY OF HUNT LNLT d Od"i MACH They Board of Administration, State 'IRmployeese Retirement Systems and the City Council of the City of Runtington 'Beach, hereinafter referred to as Agency, having; entered into a contract under date of October 27, 1945, effective October 1, 1945, which provides for the pz�,:rticipation of said Agency in said Retirement tystemo and said Contract being based on the Reatire ment Late as that Law existed prior to amendments adopted in 1945 and 1947, increasing benefits and reducing ages of retirement, said Board of Administration and raid City Council hereby agree as followst 1. Paragraphs 4, 5, 6 and 7 shall be and are hereby stricken from said. contract. 2. The: fallowing paragraphs shell be and are hereby added to said Contraactt 4. A;e 60 shell be the normal minimum aka ,for retirement for service, of persons who are miscellaneous members because of employment by Agency, that is, members other than Local firemen and Local Policemen, and one-sixtieth shall be the fraction of final compensation, as deefine& in said Retirement Laws to be provided on the average, for each year of service as a. member. by the members! and Cen.c7e ss normal contribu- tions, upon retirement at said minimum age. 5. Benefits on account of prior service, that is, service credited here- under as rendered to Agency prior to the effective dates of participation, to respective persons who are members because of employment by Agency as Local Firemen or Local Policemen, shall be allowed only as a percentage of the average salary specified in said Retirement Law. for each year of such service, rand said percentage shall be 100 per cent of tho fraction of final compensation, at defined in the State Employees' Retirement Lase, for each year of service rendered after said date, as determined for said respective members under said law, for retirement for service at age 55, or upon qualification for service retirement at a higher ago. If a member retires for service before attaining sage 65, his prior service pension shall be reduced to that amount which the value of the pension as deferred to are 55 will purchase at the actual age of retirement. 5« Prior service benefits to persons who are miscellaneous members because of employment by Agency, that is, members other than Local firemen and. Local F olicemen4 upon retirement for service at the normal minimum age entered in paragraph 4 horeof, shall be allowed only as as percentage of the average salary specified in said Retirement Lair, for each your of such service, and said percentage shell be 100,peer cunt of_1/60.- if a member retires for service before atta.ining the normal minimum age in item 4, his prior service pension shall be reduced to that amount which the value} of the pension as deferred to said minimum age will purchases at the actual ages of retirement. liabilities of said System on account of said employees. Contributions required of Agency and its employees shall be subject to adjustment by the Board of Administration on account of amendments to the State Employees' Retirement Law, and on account of experience under the Retirement System as determined by the periodical investigation, -valuation and determination provided for by said Retirement Lax. 12. Contributions required of Agency under paragraph 11 immediately preceding, and contributions rewired of Agency's employees W o are members of said System, shall be paid by ACency to the State Employees' Retirement Smstem within thirty days after the end of the month or longer period to YOUch said contributions refer. If more or less than the correct amount of contribution required. of ACency or its employees is paid for any period, proper adjustment shall be made in connection: vith subsequent remittances of Agency to the Board, to rectify the errors; or such adjustments on account of errors made in contributions required of employees, may be made by direct cash payments between the employee in connection with: whom the error was made, and Board. Payments of Agency to Hoard may be made in the form of warrants, bank checks, bank drafts, certified checks, money orders, or cash. 3. Benefits, including; retirement allowances, prior to the effective date of this amendmenti shall not be affected by this amendment. This amsndment shall be attached to said Ccntrant and shall by effective as of the Ist dal of January-,__ _ . t 19 A Witness our rand this 9th day of November , 1949. CITY COTANCIL of the ATTEST: CITY OF IMM 3TJ2. BEACF Clerk // Pgesldlnr OffIcer in OF ADMINISTRATION ATTE:'iT t S EMPLOYEES' RE T IzMY T SYSi"'r...i By ecutive icer rem en , oar o s ra ion 12. Contributions required of Agency under paragraph 11 1"diately preceding. and contributions required of Agencyls employees who are membors of said System, shall be paid by Agency to the State Employeose Retirement fyetem within thirty days after the end of the month or longer period to which said contributions refer. If more or leas than the correct arount of contribution required of Agency, or its employees is paid for any period, proper adjustment shall be made in connection with subsequent remittances of Agency to the Board, to rectify the errors; or such adjustments on acco uit of errors rxAs in contributions required of employees, my be made by direct cash phytents between the employee in co=ection with whom the error was made, and Board. Payments of Agency to Aourd say.be made in the form of warrants. bank checks, bank drafts, certified checks. money orders, or cash. 3. Bsnsfits. including retirement allowances, prior to the effective date of this rmend=et, shall not be affected by this amendment. 4. This amendment shall be attached to said Contract and shall be effective as of the 1st daaX of January, , 1950. Witness our hand this 9th day of _ Novembers 1949. CITT COUX'41L of the AM MIST CITY OF F3MII:GTON 13 ACfi By. , Clerk Presiding Officer i BO.VZ OF ADIMINIST ATZON ATTIST: STATE EI?LOYrrSe P IFS.-nNT SYSTEY _ ecutive Officer iTe ident, Board of Administration — 3 — Or service before attaining the normal ninimirn age in item 49 his-prior service pension snail be reduced to that amount vblch the value of the pension as deferred to said mini==am: age will purchase at the actual ape of retirement. 7. The provisions of Section 21258b of the State Employees' Retirement Lair, guaranteeing; a minimum retirement allowance tinder certain conditions shall apply to persons who are man- bers because of employment by Agency. 8. The provisions of Section 21367.5 of the State Employees' Retirment Lair, providing a $303 death benefit after retire- ment shall apply to persons vKho are members because of employment by Agency. 9. The Provisions of Section 21251.1 of the State Employees' Retire— ment Law, providing for a C-aarantead percentage: of final conpen- sation for each year of current service as a member, shall apply to persons Wo are miscellaneous members because of employment by Agency. 10. The provisions of Section 2D025 of the State Employees' Retire- ment Law, providing, for the portion of compensation to be included in computations tinder said Law, shall apply to persons who are members because of employment by Agency. 11. Agency shall contribute to said Retirement System as followi: a. The sum.of 39*758.00 per annum, payable in equal monthly or less frequent installments as Board shall require for the period of 25 years less the time elapsed feon the date of participation to the affective date hereof. b. 8.852 par cent of total salaries paid by Agency each conth to Its employees who are members of said Retirement System, provided that only salary earned as members of said System shall be included in said total salaries, and the employees who are memt+ers of said System shall include employees who become nembers upon the effective date hereof and employees who become members thereafter. c. A reasonable amount per a^au=, as fixed-by Board, payable in equal monthly or less frequent installments, as Board shall require, to cover the costs of administering said SysteW as it affects Che employees of Agency, not including the cost, of special vaulations or of the periodical investi- gation and valuation required by law, provedod that said amount shall be determined on the basis of the number of employees of Agency who are members an July 1st of the res- pective fiscal years, cr ,Pith respect to the first year of participation, on the effective date of said participation. d. A reasonable amount as fixed by the Board, payable in one installment from time to time as the occasions arise, to cover the costs of special vduations on account of emplayees of Agency, and the costs of the periodical investigatior into the experience under said Retirement System, as it affects said employees, and the valuation of the assets and Ordinance N PASSED AND ADOPTED by the City Council of the City of Hunting-ton Beach, California, this 7th. day of November , 1949. ATTEST: r�J i s� v/ VA.7or City C r STATE OF CALIFORNIA ) County of Oranfe ) ss: City of Huntington Beach ) Is. JOM L. WZICKSENs. the duly elected, qualified and acting City Clerk of the City of Huntington Beach and ex—officio Clerk or the City Council of said City of Huntington Beach, do hereby certify that the whole number of members of the pity Council of the City of Huntington Beach is five.. that the foregoing Ordinance was first read to said City Council at a regular meeting thereof held on the 17th day of October, 1949g and was again read to said City Caancil at a regular neeting thereof held on the 7th day of Novembers 1949, and eras passed and a dopted by the affirmative vote of more than a majority of all members of said City Council as follows AM: Councilmen: LeBards, Woodq Seabridga, Langenbeckp Greer. NOES: Councilmen: ?lone. ABSENTt Councilment None* City Clev k and ex-of icioo the City Council of the Hurt ington Beach,, CaY {2) 700.50 05/21/2001 Active Ord No 3497 Amends California Public Employees' Retirement System (PERS) Contract S.21362.2 3% @ 50 Full Formula Benefit for Firefighters Res No 2001-18 5/7/01 700.50 02/07/1997 Active Transfer of Public Employee Retirement System (PERS) Refund received 1995/96 2/3/97 I 700.50 09/05/1996 Active Resolution No 96-68-CALPERS Pre-Tax Payroll Deduction Plan for Service Credit Purchases 8/19/96 700.50 12/31/1994 Active PUBLIC EMPLOYEE'S RETIREMENT SYSTEM (PERS) 1994 to Present ' 700.50 12/31/1993 Active Retirement Benefits-PERS 1990-93 IJ v Date/Time 09/06/2001 4:19.42 PM City of Huntington Beach Page 1 i Office of the City Clerk Records Ref Category Subject Entered Status Document Expires Box ID Label AA 600.20 12/31/1992 Active 2872 CALIF,STATE OF Administrative Hearing Division Provide City wlservices of law judges for PERS Safety Disability Hearings-TERM INDEFINITE— 1992 PU 600.20 12/31/1988 Active 3701 California, State of Public Employees Retirement System (PERS) 1945-Present Total Records Detailed: 2 �