HomeMy WebLinkAbout74-106Resolution No. 7~- l06
RESOLUT~ON OF INTENTION TO APPROVE AI3 AMEI~DMEN'I' TO
CONTR.9CT BETWEEN THE BQARD OF ADMINI~TRATTON OF THE.
PUBLYC k~`1PLOYEES' RETIRFMENT SYSTIl~I AND THE BOARD OF
SUPERVISORS OF` T'HE C~UNTY OF BU~TE
~EREAS, ~he Public bnployees' Retirement Law permits the
participation of publ~.c agencies and their employees in the Public
Ekr-ployees' Re~irement System by the execution of a contract, and
sets forth the procedure by which said public agencies may eZect
~eo subject themselves and their employees to amenclments to said
law; and
WHEREAS, one of the steps in the procedure to amend this
contract is the adoption by the legislative body of the public
agency o~ a resolution giving notice of its i.ntent~on to approve
an amendment to said contract, which resolution shall contain a
summary of the changes proposed in said contract; and
WHEREAS, the following zs a statement of the proposed change:
Retirement allowances to which the annual cost-of-
].iving pxo~risions app].y, payable for t'ime commencing
on ~he first day of the calendar mon~h coincid~.ng
with or next ~'ollowing ~he e~~ective date of this
amendment to or on accoun~ af persons retired or
men-bers deceased on or after January 1, 1971 but
before July ~., 1971, are hereby increased by ~%.
WHEREAS, ~he es~imate of the cost of such change for the public
agency ~.s se~ forth in a copy af ~he valuation ~eport attach.ed
heareto, marked 'r~chibit A~t az~d by this referen.ce incorporated into
the amendment as though therei.t~ set out in full.
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NOW, THEREFORE, BE IT RESOLVED, that the Board of Supervxsors
of the County of Butte, gives, and it hereby gives notice o~
intention to approve an amendment to the contract between ~he
Board o~ Supervisors of the County of Bu~~e and the Board of
Aclminist~a~ion of the Public ~npioyees' Retirement System to
ac~ompJ.ish the above change,
PASSED A1~ID ADOPTED by the Bu~tte County Board of Saperviso~rs
this 3~3t~ day of August, 1974, by the following vote:
AYES: Supervisors Cameron, Gilman, Ladd, McKillop and Chairman Madi.gan
NOES: None
ABS$NT: None
NOT VOTING: None t
v
ACK~ DIGAI~; C~'F~ia` man~of~~
the Board of Supervisors
ATTEST:
CLARK A. NET~SON, County Clerk and
ex-o£ficio Clerk of the Board
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EXHIBIT A
PUBLIC ~MPLOY~ES' RETIRII°IENT SYSTEM
~4CTUARIAL VALUATION TO DETERMINE COSTS
UNDER SB 1113, CHAPTER 1123 (1973) ~
{5% Tncrease)
AGENCY NAME: Butte County
AGENCY NUMBER: 58
DATE: J'anuary Il, 1974
LUMP SUM PAYMENT FOR
MISCELLANEOUS MEP7BER5
~.1, 387
LUMP SUM PAYMENT FOR
SAF`ET'Y MEMBERS