HomeMy WebLinkAboutAGENDA REPORT 1997 1001 CC REG ITEM 11ACity of Moorpark
Agenda Report
To: The Honorable City Council
From: Richard Hare, Deputy City
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ITEM /�. /'� •
CITY OF MOORPARY, CALIFORNIA
City Council. Meeting
V.1 %�' �/ 1997
Date: September 19, 1997 (CC Mtg. 10/1/97)
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Subject: Consider Ordinance No. Amending the Contract
between the Board of Administration of the Public
Employees' Retirement System and the City Council
of the City of Moorpark to Pool 1959 Survivor
Benefits Assets and Liabilities.
Background
On September 17, 1997, the City Council approved Resolutions 97-
1389 and 97 -1390. Resolution 97 -1389 provided the intention to
approve an amendment to the contract between the Board of
Administration of the Public Employees' Retirement System and the
City Council of the City of Moorpark; and, Resolution 97 -1390
agreed to pool the Survivor Benefit with the other Public
Employee's Retirement System (PERS) benefits.
The benefit does not
Ordinance establishing
for October 1, 1997
requirement, the sec(
October 15, 1997. The
of November 15, 1997.
take effect until after adoption of the
the program. The first reading is scheduled
to meet the Public Hearing and notice
)nd reading and adoption is scheduled for
benefit implementation will be effective as
The Ordinance amends the entire agreement but the only actual
language change is Section 9, which adds the Survivor Benefit for
$8.50 per covered member per month as the employer's cost.
Additionally, the City has agreed in the labor agreement to pay the
employee portion of $2.00 per month. The total estimated annual
cost to the City is $5,040 based on an average of 40 members per
year.
Staff Recommendation:
Authorize First Reading to be held on October 1, 1997, and Second
Reading on October 15, 1997, with an implementation date of
November 15, 1997.
CAWPDOMservivor benefit
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