CC - 2000-28 - Approving Supplemental Retirement Benefit and Authorizing Staff to Take Necessary StepsRESOLUTION NO. 00-28
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ROSEMEAD APPROVING A SUPPLEMENTAL RETIREMENT
BENEFIT AND AUTHORIZING STAFF TO TAKE THE NECESSARY
STEPS TO CONTRACT FOR THE BENEFIT AND ITS ADMINISTRATION
The City Council of the City of Rosemead resolves as follows:
Section 1. The City Council finds, determines and declares:
1. That it is in the City's best interests to attract and retain employees of the
highest quality and that to attract and retain such employees it is necessary to
provide a competitive retirement plan; and
2. The City is eligible to be a member of the Public Agency Retirement System
(PARS) to provide its employees a supplemental retirement plan.
Section 2. The City of Rosemead hereby declares its intention to become a member of
PARS and adopt the PARS Supplementary Retirement Plan for Rosemead City employees and
officials who are enrolled in the PERS system, effective July 1, 2000 at an anticipated initial
annual cost of $158,000.
Section 3. Staff is directed to negotiate, and bring to the Council for final approval, the
legal documents to implement the PARS plan as a supplement to CALPERS, said plan to be
- effective July 1; 2000. - - - -
Section 4. Staff is further directed to negotiate and bring to the Council for approval a
service agreement with Phase II Systems to provide legally required administrative and actuarial
reports.
Section 5. The City Clerk shall certify to the adoption of this Resolution.
M rgaret Clark, Mayor
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ATTEST:
N a CMC City Clerk
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STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF ROSEMEAD
I, Nancy Valderrama, City Clerk of the City of Rosemead, do hereby certify that the
foregoing Resolution No. 2000-28 being:
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROSEMEAD,
APPROVING A SUPPLEMENTAL RETIREMENT BENEFIT AND AUTHORIZING
STAFF TO TAKE THE NECESSARY STEPS TO CONTRACT FOR THE BENEFIT
AND ITS ADMINISTRATION
was duly adopted at a Special Meeting of the City Council on the 6m of June, 2000, by the
following vote to wit:
YES:
COUNCILMEMBERS:
VASQUEZ, BRUESCH, CLARK, IMPERIAL,
NO:
COUNCILME MBERS:
NONE
ABSTAIN:
COUNCILMEMBERS:
NONE
ABSENT:
COUNCILMEMBERS:
TAYLOR
NANCY VALDERRA2.4A, CITY CLERK
AGENDA:CERTIFY
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