1976 RES NO. 3633 - Laserfiche WebLink

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EXHIBIT A AMENDMENT TO CONTRACT BETWEEN THE BOARD OF ADMINISTRATION PUBLIC EMPLOYEES'RETIREMENT SYSTEM AND THE CITY COUNCIL OF THE CITY OF COLTON The Board of Administration, Public Employees' Retirement System, herein- after referred to as Board,, and the CITY COUNCIL of the CITY OF COLTON, herein- after referred to as Public Agency, having entered into a contract under the date of May 28, 1945, effective July 1, 1945, and as amended effective February 1, 1948, July 1, 1954, January 1, 1960, September 1, 1962, and February 2, 1973, which provides for participation of Public Agency in said System, Board and Public Agency hereby agrees as follows: A. Subparagraph 4(b) of said contract shall be strickenandthe following subparagraph 4(b) shall be substituted therefor: 4(b) The fraction of final compensation to-be.provided for each year of credited prior and current service as a' Local Safety Member shall be determined in accordance with Section 21252.01 of said Retirement Law. B. Subparagraph 6(b) of said contract shall be stricken and the following subparagraph 6(b) shall be substituted therefor: 6(b) With respect to Local Safety Members, the Public Agency shall con- tribute the .following percentage of monthly`' salaries earned as Local Safety Members of said System.. benefits. (1) 22.384 percentonaccount of the liability for current service C. This amendment shall be attached to said contract and shall be effective on the 30th day of June, 1977. Witness our hands this day of BOARD OF ADMINISTRATION CITY COUNCIL PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF THE. By CITY OF COLTON Executive Officer BY Mayor ATTEST: City Clerk