ORD 1268 - Laserfiche WebLink

From and after the effective date of this amendment to contract the local fire fighter employees of Publio Agency shall be assessed an additional 1.750% of their compensation - for a total contribution rate of 10.750% pursuant to Government Code Section 20500. 8. Public Agency, in accordance with Government Code Section 20740, ceased to be an "employer" for purposes of Section 20759 effective on April 11, 1981. 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 ss members of said Retirement System: (1) 7.492 percent until June 30, 2000 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) 0,039 percent until June 30, 2000 on account of the liability for prior service benefits. (Subject to annual change.) (2) 19.061 percent until June 30, 2000 on account of the liability for current service benefits. (Subject to annual change.) c. A reasonable amount, ss 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.