HomeMy WebLinkAboutAGENDA REPORT 1997 0917 CC REG ITEM 10F7os.9
ITEM IO_F
C1TY OF MOORPARK, CALIFORNIA
City of Moorpark City Council Meeting
Agenda Report of --- I i 2'/17 -79 7
To: The Honorable City Council
From: Richard Hare, Deputy City Ma4alff74
Date: August 8, 1997 (CC Mtg. 9/17/97)
Subject: Consider Resolution No. , Intention to Approve
an Amendment to Contract Between the Board of
Administration of the Public Employees' Retirement
System and the City Council of the City of
Moorpark; and Resolution No. Agreement to Pool
1959 Survivor Benefits Assets and Liabilities
Between the Board of Administration of the Public
Employees' Retirement System and the City Council
of the City of Moorpark.
Background
During this year's Budget process, the City approved the adoption
of the Public Employees' Retirement System Survivor's Benefit. As
part of the Memorandum of Agreement with the Local Union 998, the
City agreed to pay the employers portion of $8.50 per employee per
month, as well as the employee's portion of $2.00 per employee per
month. With a total annual cost of $5,292.00 for 42 members.
In order to approve this benefit, the City must pass the attached
two resolutions. The first Resolution provides the intent and the
second Resolution agrees to pool the Survivor Benefit with the
other Public Employee's Retirement System (PERS) benefits.
The benefit does not take effect
establishing the program. The
October 1, 1997 to meet the Public
the second reading and adoption is
The benefit implementation will
1997.
Staff Recommendation:
until adoption of the Ordinance
first reading is scheduled for
Hearing and notice requirement,
scheduled for October 15, 1997.
be effective as of November 5,
Authorize process to consider First Reading to be held on October
1, 1997, and Second Reading and Adoption of Resolution No. ,
and Resolution No. , on October 15, 1997, with an
implementation date of November 5, 1997.
0001.813