Contract - CalPERS - 2004-07-01 •
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CaIPERS
California
Public Employees Retirement System
CONTRACT
Between the
Board of Administration
California Public Employees ' Retirement System
and the
Board of Directors
Costa Mesa Sanitary District
In consideration of the covenants and agreement hereafter contained and on the part of
both parties to be kept and performed, the governing body of above public agency
hereafter referred to as 'Public Agency' and the Board of Administration, Public
Employees' Retirement System, hereafter referred to as 'Board' hereby agree as
follows:
1 All words and terms used herein which are defined in the Public
Employees' Retirement Law shall have the meaning as defined therein
unless otherwise specifically provided 'Normal retirement age shall
mean age 55 for local miscellaneous members.
2. Public Agency shall participate in the Public Employees' Retirement
System from and after July 1 . 7004 making its
employees as hereinafter provided members of said System subject to all
provisions of the Public Employees' Retirement Law except such as apply
only on election of a contracting agency and are not provided for herein
and to all amendments to said Law hereafter enacted except those, which
by express provisions thereof apply only on the election of a contracting
agency
3. Employees of Public Agency in the following classes shall become
members of said Retirement System except such in each such class as
are excluded by law or this agreement:
a. Employees other than local safety members (herein referred to as
local miscellaneous members).
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4 Any exclusion(s) shall remain in effect until such time as the Public
Employees' Retirement System determines that continuing said
exclusion(s) would risk a finding of non-compliance with any federal tax
laws or regulations. If such a determination is contemplated, the Public
Employees' Retirement System will meet with the Public Agency to
discuss the matter and coordinate any required changes or amendments
to the contract.
In addition to the classes of employees excluded from membership by
said Retirement Law the following classes of employees shall not become
members of said Retirement System:
a. SAFETY EMPLOYEES.
5 The percentage of final compensation to be provided for each year of
credited prior and current service as a local miscellaneous member shall
be determined in accordance with Section 21354 of said Retirement Law
(2% at age 55 Full)
6. Public Agency elects to be subject to the following optional provisions:
a. Section 20042 (One-Year Final Compensation)
b. Section 20965 (Credit for Unused Sick Leave).
c. Section 20903 (Two Years Additional Service Credit)
d Section 21023.5 (Public Service Credit for Peace Corps,
AmeriCorps VISTA, or AmeriCorps Service).
e. Section 21024 (Military Service Credit as Public Service) Statutes
of 1976.
f Sections 21624 and 21626 (Post-Retirement Survivor Allowance).
7 Public Agency shall contribute to said Retirement System the contributions
determined by actuarial valuations of prior and future service liability with
respect to local miscellaneous members of said Retirement System.
8 Public Agency shall also contribute to said Retirement System as follows:
a. Contributions required per covered member on account of the 1959
Survivor Benefits provided under Section 21574 of said Retirement
Law (Subject to annual change.) In addition, all assets and
liabilities of Public Agency and its employees shall be pooled in a
single account, based on term insurance rates, for survivors of all
local miscellaneous members.
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b A reasonable amount, as fixed by the Board, payable in one
installment within 60 days of date of 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 the
periodic investigation and valuations required by law
c. A reasonable amount, as fixed by the Board, payable in one
installment 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
9 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
10. Contributions required of Public Agency and its employees shall be paid
by Public Agency to the Retirement System within fifteen days after the
end of the period to which said contributions refer or as may be prescribed
by Board regulation. If more or less than the correct amount of
contributions is paid for any period, proper adjustment shall be made in
connection with subsequent remittances. Adjustments on account of
errors in contributions required of any employee may be made by direct
payments between the employee and the Board
BOARD OF ADMINISTRATION BOARD OF DIRECTORS
PUBLIC EMPLOYEES' RETIREMENT SYSTEM COSTA MESA SANITARY DISTRICT
BY rn A.�fZu—raC_ BY !. Ai ' ,_ s.,_, •
KEN E H MARZIO� CHIEF PRESIDING OFFICER
ACT RI & EMPLOYER SERVICE DIVISION
PUBLIC PLOYEES' RETIREMENT SYSTEM
iAL, / G, duo
W ness Date
Attest.
Clerk
NEW AGENCY Org Id 7712
PERS-CON-702N(Rev.8102)