RESOLUTION
AUTHORIZING A CORRECTION TO THE
AMENDMENT TO CONTRACT BETWEEN THE
BOARD OF ADMINISTRATION
CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM
AND THE
CITY COUNCIL
CITY OF CORONADO
WHEREAS, the City Council of the City of Coronado hereinafter referred to as Public Agency, and the Board of Administration of the Public Employees' Retirement System entered into a contract effective January 1, 1949providing for the participation of Public Agency in the Public Employees'Retirement System; and WHEREAS, said contract was amended effective September 16, 2000, and tentatively effective January 13, 2024; and
WHEREAS, due to an inadvertence, paragraph "11. a.-g." read:
"11. Public Agency elected and elects to be subject to the following optional provisions:
Section 21572 (Increased Level of 1959 Survivor Benefits) for local miscellaneous members only.
b.c.
Section 20042 (One-Year Final Compensation) for classicmembers only.
Section 21427Allowance).
(Improved Nonindustrial Disability
d. Section 21548 (Pre-Retirement Option 2W Death Benefit).e. Section 21024 (Military Service Credit as Public Service) for local miscellaneous members and local police members
only.
f. Section 20516 (Employees Sharing Additional Cost):
From and after July 6, 2019, 1.5% for classic local
miscellaneous members in the Coronado Miscellaneous
Self-Represented group.
Attachment 1
Resolution No. 2023-44
9. From and after July 6, 2019, 1.5% for classic local
miscellaneous members in the Coronado Police Officers'
Association.
From and after July 6, 2019, 1.5% for classic local
miscellaneous members in the American Federation of
State, County and Municipal Employees, Local 127.
From and after July 6, 2019, 1.5% for classic local policemembers in the Coronado Safety Self-Represented group.
From and after July 6, 2019, 1.5% for classic local police members in the Coronado Police Officers' Association.
From and after July 6, 2019, 1.5% for classic local fire members in the Coronado Safety Self-Represented group.From and after July 6, 2019, 1.5% for classic local firemembers in the Coronado Firefighters' Association.
The portion of the employer's contribution that the member agrees to contribute from his or her compensation, over andabove the member's normal contribution ("Cost Sharing Percentage"), shall not exceed the Employer Normal Cost Rate, as that rate is defined in the CalPERS Actuarial
Valuation for the relevant fiscal year. If the Cost Sharing Percentage will exceed the relevant Employer Normal CostRate, the Cost Sharing Percentage shall automatically bereduced to an amount equal to, and not to exceed, theEmployer Normal Cost Rate for the relevant fiscal year.
Section 21574 (Fourth Level of 1959 Survivor Benefits) for local safety members only."
WHEREAS, Section 20472 of the Government Code provides that corrections may be made through amendments approved by the adoption of suitableresolutions by the contracting parties; and NOW, THEREFORE, BE IT RESOLVED that said governing body of Public Agency authorizes, and it does hereby authorize, a correction to the amendment tocontract with the tentative effective date of January13, 2024, as follows:
Attachment 1
Resolution No. 2023-44
A. Paragraph "11 a.-f." of said contract shall be changed as follows:
"11. Public Agency elected and elects to be subject to the following optional provisions:a.
b.
c.
d.
e.
Section 20042 (One-Year Final Compensation) for classic members only.
Section 21427
Allowance).
(Improved Nonindustrial Disability
Section 21548 (Pre-Retirement Option 2W Death Benefit).
Section 21024 (Military Service Credit as Public Service) forlocal miscellaneous members and local police members only.Section 20516 (Employees Sharing Additional Cost):
From and after July 6, 2019, 1.5% for classic localmiscellaneous members in the Coronado MiscellaneousSelf-Represented group.From and after July 6, 2019, 1.5% for classic local miscellaneous members in the Coronado Police Officers'
Association.
From and after July 6, 2019, 1.5% for classic localmiscellaneous members in the American Federation of State, County and Municipal Employees, Local 127.
From and after July 6, 2019, 1.5% for classic local police members in the Coronado Safety Self-Represented group.From and after July 6, 2019, 1.5% for classic local police members in the Coronado Police Officers' Association.
From and after July 6, 2019, 1.5% for classic local fire members in the Coronado Safety Self-Represented group.
From and after July 6, 2019, 1.5% for classic local fire members in the Coronado Firefighters' Association.
Attachment 1
Resolution No. 2023-44
f.
The portion of the employer's contribution that the member agrees to contribute from his or her compensation, over and above the member's normal contribution ("Cost Sharing
Percentage"), shall not exceed the Employer Normal CostRate, as that rate is defined in the CalPERS Actuarial Valuation for the relevant fiscal year. If the Cost Sharing Percentage will exceed the relevant Employer Normal Cost Rate, the Cost Sharing Percentage shall automatically bereduced to an amount equal to, and not to exceed, theEmployer Normal Cost Rate for the relevant fiscal year.
Section 21574 (Fourth Level of 1959 Survivor Benefits) for local safety members only."; and
B. Paragraph numbers "11 a.-g."; shall be renumbered paragraph numbers "11 a.-f.".
BE IT FURTHER RESOLVED, that the presiding officer of the governing body of Public Agency is hereby authorized, empowered, and directed to execute said amendment for and on behalf of Public Agency.
Adopted this day of
BOARD OF ADMINISTRATION CITi' COUNCILPUBLIC EMPLOYEES' RETIREMENT SYSTEM CITt' OF CORONADO
BYMELODY BENAVIDES, CHIEFPENSION CONTRACTS AND PREFUNDINGPROGRAMS DIVISION
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
BYPRESIDING OFFICER
Witness Date
Attest:
Clerk
Attachment 1
Resolution No. 2023-44