RES 87126 - Laserfiche WebLink

EXHIBIT ONLY" f. Sections 21380 - 21387 (1959 Survivor Program) including Section 21382.2 (Increased 1959 Survivor Benefits), for local miscel- laneous members. 8. Public Agency, in accordance with Government Code Section 207qO, ceased to be an "employer" for purposes of Section 20?59 effective on April 11, 1981. Accumulated contributions of Public Agency shall be fixed and determined as provided in Government Code Section 20?59, and accumulated contributions thereafter shall be held by the Board as provided in Government Code Section 20?59. 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) 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) 19,189 percent until June 30, 2000 on account of the liability for current service benefits. (Subject to annual change.) c. A reasenable amount, as fixed b~ the Board, payable in one in- stallment within 60 days of date bf 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 ~he periodic investigation and valuations required by law. d. A r~asonable 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 determined by the periodic investigation and valuation required by said Retirement Law.