Res. No. 1217 - Laserfiche WebLink

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RESOLUTION NO. 1217 WHEREAS the City of Colton has heretofore received from the Consulting Actuaries through the Board of Administration, a statement of the approximate as distinguished from the definitive contribution to the State Employees' Retirement System, which was required of said City because of its intention to participate in the Retirement System and, WHEREAS, the City of Colton now desires to proceed with the steps necessary for such participation. NOW THEREFORE, be it resolved by the City Council of the City of Colton as follows: 1. To allow benefits on account of prior service, that is, service credited hereunder as rendered to Subdivision prior to the effective date hereof, to city firemen and city policemen and to other employees, only as percentages of the respective average salaries specified in said Retirement Act, for each year of such service, and that said percentages shall be equal to one hundred (100%) per cent of the analogous percentages now used under said Retirement System in calculating benefits on account of prior service, allowed to members of the California State Highway Patrol and to other employees of the State of California, respectively. 2. To liquidate the liability for benefits to be granted on account of prior service over a period of twenty-five, (25), years. 3. To include all city firemen and all city policemen and_ all— other ll other city employees, including employees of the Colton City Library, subject to the approval of said groups. 4. To make participation effective. 19 4a. To apply the provisions of Secti n 84('�f the State Employees' Retirement Act to members who are employees of the City of Colton. You are requested, therefore, to forward the following documents: 5. Resolution of intent to approve contract between City of Colton and Retirement System. 6. Ballots for use in election to determine employees' desire. 7. Contract to be executed between City of Colton and Retirement System. 8. Ordinance or Resolution approving contract. 9. Form for reporting results of employees' election and legislative body's action. SIGNED AND APPROVED THIS OF 19 Mayor of the City of Colton.