ORD 0963 - Laserfiche WebLink

5. The fraction of final compensation to be provided for each year of credited prior and current service a.s a local safety member shall be determined in accordance with Section- 21252.01 of said Retirement Law (2% at age 50)- :~" 6. The following additiona].. provisions of the Public F, mployees' Retire- 7L~ merit Law which apply onlJ upon election of a contracting agency shall () apply to the Public Age. ncy and its emp].oyees: ~]':~ a- Sections 21380-21388, (1959 Survivors Program), excluding Section ,I'X'~ 21282.2 (Increased 1959 Survivors benefits). ~ b. Section 20020 ("Local Policemen" shall include persons assigned .~.I~ to identification and communication Buttes in the Police Depart- ;j..~. merit who are not now local safety members and. who wer~ in such ~ employment on August 4, 1972, who elect safety membership on or O before September 28, 1 973 · O c. Section 20862.8 (Unused sick leave credit), for local miscel- '~ laneous members only. '=C 7- Public Agency, in accordance with Section 20740, Government Code, -.~ shall cease to be an "employer for purposes of Chapter 6 of the ~ Public Employees' Retirement Law effective as of the effective date of this amendment to contract. Accumulated contributions of Public Agency as of the date of such amendment shall be fixed and determined as provided in Section 20759, Government Code, and such accumulated '- contributions and contributions hereafter made shall be held by the Board as provided in Section 20759, Government Code. 8. _Public Agency shall contribute to said Retirement System 'as follows: ' a. With respect to miscellaneous members, the agency shall con- tribute the following percentages of monthly salaries earned as miscellaneous members of said Retirement System: (1) 13.O94 percent on account of the liability for current service benefits. (2) 0.066 percent on account of the liability for the 1959 Survivor Program. b. With respect to local safety members, the agency shall contribute the following percentages of monthly salaries earned as local safety members of said Retirement System: (1) 0.034 percent until June 30, 2000 on account of the liability for prior service benefits- (2) 20.661 percent on account of the liability for current service benefits. c. A reasonable amount per annum, ~s fixed by the Board to ccver 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.