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b. A reasonable amount, as fixed by the Board, payable in one <br />installment within 60 days of date of contract to cover the costs of <br />administering said System as it affects the employees of Public <br />Agency, not including the costs of special valuations or of the <br />periodic investigation and valuations required by law. <br />C. A reasonable amount, as fixed by the Board, payable in one <br />installment as the occasions arise, to cover the costs of special <br />valuations on account of employees of Public Agency, and costs of <br />the periodic investigation and valuations required by law. <br />12. Contributions required of Public Agency and its employees shall . be <br />subject to adjustment by Board on account of amendments to the Public <br />Employees' Retirement Law, and on account of the experience under the <br />Retirement System as determined by the periodic investigation and <br />valuation required by said Retirement Law. <br />13. Contributions required of Public Agency and its employees shall be paid <br />by Public Agency to the Retirement System within fifteen days after the <br />end of the period to which said contributions refer or as may be prescribed <br />by Board regulation. If more or less than the correct amount of <br />contributions is paid for any period, proper adjustment shall be made in <br />connection with subsequent remittances. Adjustments on account of <br />errors in contributions required of any employee may be made by direct <br />payments between the employee and the Board. <br />B. This amendment shall be effective on the day of <br />BOARD OF ADMINISTRATION CITY COUNCIL <br />PUBLIC EMPLOYEES' Rf:-VREMENT SYSTEM CITY OF COLTON <br />BY Al �% <br />KENNETH W. <br />ACTUARIAL & <br />PUBLIC EMPJs <br />AMENDMENT ER# 0070 <br />PERS-CON-702A (Rev. 8102) <br />fON, CHIEF <br />.OYER SERVICES DIVISION <br />S' RETIREMENT SYSTEM <br />BY <br />PRESIDING OFFICER <br />Witness Date <br />Attest: <br />Q <br />c� <br />Clerk <br />