CalPERS
EXHIBIT
California
Public Employees' Retirement System
AMENDMENT TO CONTRACT
Between the
Board of Administration
California Public Employees' Retirement System
and the
City Councill
City of San Marcos
The Board of Administration, California Public Employees' Retirement System, hereinafter referred to as Board, and the governing body of the above public agency, hereinafter referred to as Public Agency, having entered into a contract effective November 15, 1972, and witnessed September 27, 1972, and as amended effective December 20, 1983, April 17, 1990, January 12, 1999, December 28, 1999, May 1, 2001, September 27, 2005, May 15, 2012, November 13, 2015, October 19, 2019, August 22, 2020, and June 26, 2021, which provides for participation of Public Agency in said System, Board and Public Agency hereby agree as follows:
Paragraphs 1 through 19 are hereby stricken from said contract as executed effective June 26, 2021, and hereby replaced by the following paragraphs numbered 1 through 19 inclusive:
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 classic local miscellaneous members, age 62 for new local miscellaneous members, age 50 for classic local safety members entering membership in the safety classification on or prior to May 15, 2012, age 55 for classic local safety members entering membership for the first time in the safety classification after May 15, 2012, and age 57 for new local safety members.
Public Agency shall participate in the Public Employees' Retirement System from and after November 15, 1972, 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. Public Agency agrees to indemnify, defend and hold harmless the California Public Employees' Retirement System (CalPERS) and its trustees, agents and employees, the CalPERS Board of Administration, and the California Public Employees' Retirement Fund from any claims, demands, actions, losses, liabilities, damages, judgments, expenses and costs, including but not limited to interest, penalties and attorney fees that may arise as a result of any of the following:
(a) Public Agency's election to provide retirement benefits, provisions or formulas under this Contract that are different than the retirement benefits, provisions or formulas provided under the Public Agency's prior non-CalPERS retirement program.
(b) Any dispute, disagreement, claim, or proceeding (including without limitation arbitration, administrative hearing, or litigation) between Public Agency and its employees or their
representatives) which relates to Public Agency's election to amend this Contract to provide retirement benefits, provisions or formulas that are different than such employees' existing retirement benefits, provisions or formulas.
(c) Public Agency's agreement with a third party other than CalPERS to provide retirement benefits, provisions, or formulas that are different than the retirement benefits, provisions or formulas provided under this Contract and provided for under the California Public Employees' Retirement Law.
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. Local Fire Fighters (herein referred to as local safety members); Employees other than local safety members (herein referred to as local miscellaneous members).
5. 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. POLICE OFFICERS.
This contract shall be a continuation of the contract of the San Marcos Fire Protection District, hereinafter referred to as "Former Agency". The accumulated contributions, assets and liability for prior and current service under the Former Agency's contract shall be merged pursuant to Section 20508 of the Government Code. Such merger occurred December 28, 1999.
The percentage of final compensation to be provided for each year of credited prior and current service as a classic local miscellaneous member in employment before and not on or after September 27, 2005, shall be determined in accordance with Section 21354 of said Retirement Law subject to the reduction provided therein for Federal Social Security (2% at age 55 Full and Modified).
8. The percentage of final compensation to be provided for each year of credited prior and current service as a classic local miscellaneous member in employment on or after September 27, 2005, and not entering membership for the first time in the miscellaneous classification after May 15, 2012, shall be determined in accordance with Section 21354.5 of said Retirement Law subject to reduction provided therein for Federal Social Security (2.7% at age 55 Full and Modified).
9. The percentage of final compensation to be provided for each year of credited current service as a classic local miscellaneous member entering membership for the first time in the miscellaneous classification after May 15, 2012, shall be determined in accordance with Section 21354 of said Retirement Law subject to reduction provided therein for Federal Social Security (2% at age 55 Full and Modified).
10. The percentage of final compensation to be provided for each year of credited prior and current service as a new local miscellaneous member shall be determined in accordance with Section 7522.20 of said Retirement Law (2% at age 62 Supplemental to Federal Social Security).
11. The percentage of final compensation to be provided for each year of credited prior and current service as a classic local safety member entering membership in the safety classification on or prior to May 15, 2012, shall be determined in accordance with Section 21362.2 of said Retirement Law (3% at age 50 Full).
12. The percentage of final compensation to be provided for each year of credited current service as a classic local safety member entering membership for the first time in the safety classification after May 15, 2012, shall be determined in accordance with Section 21363.1 of said Retirement Law (3% at age 55 Full).
13. The percentage of final compensation to be provided for each year of credited prior and current service as a new local satety member shall be determined in accordance with Section 7522.25(d) of said Retirement Law (2.7% at age 57 Full).
14. Public Agency elected and elects to be subject to the following optional provisions:
a. Section 20042 (One-Year Final Compensation) for those classic members entering membership on or prior to May 15, 2012. b. Sections 21624, 21626 and 21628 (Post-Retirement Survivor Allowance).
Section 21427 (Improved Nonindustrial Disability Allowance) for local safety members only.
Section 21024 (Military Service Credit as Public Service). e. Section 20965 (Credit for Unused Sick Leave) for local miscellaneous members only.
f. Section 21574.5 (Indexed Level of 1959 Survivor Benefits) for local safety members only.
g. Section 20475 (Different Level of Benefits): Section 21354 (2% @ 55 Full and Modified formula) and Section 20037 (Three-Year Final Compensation) are applicable to classic local miscellaneous members entering membership for the first time with this agency in the miscellaneous classification after May 15, 2012.
Section 21363.1 (3% @ 55 Full formula) and Section 20037 (Three- Year Final Compensation) are applicable to classic local safety members entering membership for the first time with this agency in the safety classification after May 15, 2012.
h. Section 20503 (To Remove the Exclusion of "Persons Employed by the Recreation Department," prospectively from November 13, 2015).
i. Section 20516 (Employees Sharing Additional Cost):
From and after October 19, 2019, and until August 22, 2020, 1.5% for classic local fire members in the San Marcos Professional Firefighters' Association.
From and after October 19, 2019, and until August 22, 2020, 1.5% for classic local fire members in the Unrepresented Fire Safety Management group.
From and after August 22, 2020, and until June 26, 2021, 3% for classic : local fire members in the San Marcos Professional Firefighters' Association.
From and after August 22, 2020, and until June 26, 2021, 3% for classic local fire members in the Unrepresented Fire Safety Management group.
From and after August 22, 2020, and until June 26, 2021, 1% for classic local miscellaneous members in the San Marcos Classified Miscellaneous Employees Association.
From and after August 22, 2020, and until June 26, 2021, 0.25% for new local miscellaneous members in the San Marcos Classified Miscellaneous Employees Association.
From and after August 22, 2020, and until June 26, 2021, 1% for classic local miscellaneous members in the San Marcos Supervisors Association.
From and after August 22, 2020, and until June 26, 2021, 0.25% for new local miscellaneous members in the San Marcos Supervisors Association.
From and after August 22, 2020, and until June 26, 2021, 1% for classic local miscellaneous members in the Unrepresented Miscellaneous Employees group.
From and after August 22, 2020, and until June 26, 2021, 0.25% for new local miscellaneous members in the Unrepresented
Miscellaneous Employees group.
From and after June 26, 2021, and until the effective date of this amendment to contract, 4.5% for classic local fire members in the San Marcos Professional Firefighters' Association.
From and after June 26, 2021, and until the effective date of this amendment to contract, 4.5% for classic local fire members in the Unrepresented Fire Safety Management group.
From and after June 26, 2021, and until the effective date of this amendment to contract, 2% for classic local miscellaneous members in the San Marcos Classified Miscellaneous Employees Association.
From and after June 26, 2021, and until the effective date of this amendment to contract, 1.25% for new local miscellaneous members in the San Marcos Classified Miscellaneous Employees Association.
From and after June 26, 2021, 2% for classic local miscellaneous members in the San Marcos Supervisors Association.
From and after June 26, 2021, 1.25% for new local miscellaneous members in the San Marcos Supervisors Association.
From and after June 26, 2021, 2% for classic local miscellaneous members in the Unrepresented Miscellaneous Employees group.
From and after June 26, 2021, 1.25% for new local miscellaneous members in the Unrepresented Miscellaneous Employees group.
From and after the effective date of this amendment to contract, 6% for classic local fire members in the San Marcos Professional Firefighters' Association.
From and after the effective date of this amendment to contract,
1.25% for new local fire members in the San Marcos Professional Firefighters' Association.
From and after the effective date of this amendment to contract, 6% for classic local fire members in the Unrepresented Fire Safety Management group.
From and after the effective date of this amendment to contract,
1.25% for new local fire members in the Unrepresented Fire Safety Management group.
From and after the effective date of this amendment to contract, 3% for classic local miscellaneous members in the San Marcos Classified Miscellaneous Employees Association.
From and after the effective date of this amendment to contract,
2.25% for new local miscellaneous members in the San Marcos Classified Miscellaneous Employees Association.
From and after the effective date of this amendment to contract, 3% for classic local miscellaneous members in the San Marcos Supervisors Association.
From and after the effective date of this amendment to contract,
2.25% for new local miscellaneous members in the San Marcos Supervisors Association.
From and after the effective date of this amendment to contract, 3% for classic local miscellaneous members in the Unrepresented Miscellaneous Employees group.
From and after the effective date of this amendment to contract,
2.25% for new local miscellaneous members in the Unrepresented Miscellaneous Employees group.
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 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 Cost Rate, the Cost Sharing Percentage shall automatically be reduced to an amount equal to, and not to exceed, the Employer Normal Cost Rate for the relevant fiscal year.
15. Public Agency, in accordance with Government Code Section 20790, ceased to be an "employer" for purposes of Section 20834 effective on December 20, 1983. Accumulated contributions of Public Agency shall be fixed and determined as provided in Government Code Section 20834, and accumulated contributions thereafter shall be held by the Board as provided in Government Code Section 20834.
16. 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 and local safety members of said Retirement System.
17. 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 21574.5 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 safety members.
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.
18. 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.
19. 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.
B. This amendment shall be effective on the day of
BOARD ORADMINISTRATION CITY COUNCIL
PUBLIC EMBLOYEES' RETIREMENT SYSTEM CITY OF SAN MARCOS
BY_ BY_
MELODY BENAVIDÉS, CHIEF PRESIDING OFFICER
PENSION CONTRAGTS AND PREFUNDING
PROGRAMS DIVISION'
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
Witness Date
Attest:
I NOT SIGN "EXHIBIT ONLY"
Clerk
AMENDMENT CaPERS ID #4284426953
PERS-CON-702A