RES 95111 - Laserfiche WebLink

PERS CONT SER~J DI~ TEL:916-326-3005 Sep 26'95 6:58 No.O01 P.i~ PLEASE DO NOT SIGN "EXHIBIT ONLY" 6- The percer, r-~e of final compensation to be provided for each yetr of credited prior and curre~ service as a local safety member .d~il be determined hi acco~ with ~czion 21252.01 of said Retix~ment Law (2% at age 50 FulI). 7. Public Agency elected and elects to be subjea w the following optional provisions: a. Seaion 21382 (Basic Level of 1959 Survivor Benefits) pursuanz to Article 6 (commencing with Seaion 21380) for local safety members. b. Section 20020 ("Local Police Officer' sisal] include employees of a police depazi222ent who were employed w perform identification or cornmnniution duties on August 4, 1972 and who eleaed to be local safe~ members on or before Sepuanber 2.8, 1973). c. Seaion 20862.8 (Ctatit for Unused Sick Leave). d. Seaion 2002~.2 (Oz~Yesr Fins! Compemation). e. Seaion 20500 (Public Ageucy ,r,~ the local fire members have agreed to share the cost of the fortowing bendit): Section 20024.2 (One-Year Final Comtc~msation). From and after Sepmnber 20, 1986 the local fire members of Public Agency shall be assessed an additional 1.750% of their compensation - for a total contribution raze of 10.750% pursuant to Gove,..~za Code Section 20500. f. Section 21382.2 ancreascd Lcvel of 1959 Survivor Benefits) pursuant to Article 6 (commencing with Section 21380) for local mi-~.ellatzous members. g. Section 20818 (Two Years Additional Service Credit). 8- Public Agency, in accordance with Govermllem Code Seaion 20'740, cess~ to be an "employer' for ptuposes of Seaion 20759 effective on April 11, 1981. Acaxmulamt contributions of Public Agency shall be fixed and d~tcrmined as provial_a4 in Governmere Code Section 20759, s~l accumularzd contributions thereafter shall be held by the Board as provided in Government Code S~ction 20759. 9. Public Age~y shall conre'brae to said ~ Sys~n the contributions d~rmincd by actuarial valuations of prior and future service liability with respect to local miscellaneous members and local safety membexs of said Retixemem System. 10. Public Agency shall also corgribur~ to said ReH~ System as follows: a. A reasonable amount, as fixed by the Boazd, payable in one installm~lt within 60 days of date of contna to cover the costs of administering said System as k affeas the employees of Public Agency, no~ including the costs of special valuations or of the periodic investigaIion and valuations r~quired by law. b. A reasonable mount, as fixed by the Board, payable in one installrr~m as the occasions ari~, to cover the costs of spechl valuations on account of employees of Public Agency, and costs of the periodic investigation and valuations required by law.