Ord 1348 - AMENDING THE ZONING ORDINANCE OF THE TOWN OF LOS GATOSORDINANCE NO. 1348
ORDINANCE OF THE TOWN OF LOS GATOS
CONCERNING CONTRIBUTIONS TO THE TOWN
RETIREMENT FUND
THE TOWN COUNCIL OF THE TOWN OF LOS GATOS ORDAINS AS
FOLLOWS:
SECTION to
Section 20 -7 of the Los Gatos Town Code is amended to
re ad:
SEC. 20 -7 TOWN CONTRIBUTIONS
The Town shall make due and timely payments to provide
for the continuation of this plan under the provisions
of section 45343 of the Government Code. The Town shall
contribute monthly amounts calculated using the same
fraction of each member employee's compensation before
deductions as is then in use for calculating Town
contributions to the Public Employees' Retirement System
on behalf of Town employees who are miscellaneous members
of the Public Employees' Retirement System. Such
contribution by the Town shall continue only so long and.
coinciding with the period of time in which the employee
contributes as a. member. No contribution by the Town
shall be made for nonmembers or noncontributing members,
including employees on leave of absence and leave of
absence for military service. The costs of administering
the retirement plan and trust, including the costs of
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acquiring and disposing of trust property, shall be
paid by the Town. Contributions by the Town which have
not vested in full in a member upon the termination of
such member from employment with the Town shall be
credited to future contributions required to be made by
the Town. Contributions by the Town shall not be in excess
of the limitations provided by the laws of the state.
As used in this section, the term "compensation" shall be
defined according to that definition and regulations
contained in sections 20022 and 20025 of the California
Government Code.
SECTION 2.
Section 20 -7.5 of the Los Gatos Town Code is repealed.
SECTION 3.
In addition to the monthly contributions specified in Section
1 of this ordinance the Town shall make a single contribution for
each employee who is,on the effective date of this ordinance, a
member of the Town retirement plan® The contribution shall equal
eleven and eleven one - hundredths per cent (0 ®1111) of the compensation
received by such employee during the period beginning January 1, 1977
and ending on the day preceding the effective date of this ordinance,
less the amount of the contribution made under the provisions of
section 20 -7 before amendment by this ordinance.
SECTION 4®
This ordinance takes effect 30 days after the date it is
adopted® Within 15 days after this ordinance is adopted the Town
Clerk shall cause it to be published once in a newspaper of general
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circulation published and circulated in the Town.
This ordinance was introduced at a regular meeting of the
Town Council of the Town of Los Gatos on February 7th , 1977,
and adopted by the following vote as an ordinance of the Town of
Los Gatos at a regular meeting of the Town Council on February 22nd
1977.
AYES: COUNCIL MEMBERS Mark B. DiDuca, Mardi Gualtieri,
John B. Lochner, Albert B. Smith and Ruth Cannon
NOES: COUNCIL MEMBERS None
ABS'T'AIN: COUNCIL MEMBERS None
.ABSENT: COUNCIL MEMBERS None
SIGNED: MAYOR OF OF THE TOWN OF LOS GATOS
ATTEST
I
CLERK Off' THE O "S - 6 - GATOS
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