Loading...
Ord 1321 - URGENCY ORDINANCE AMENDING THE TOWN CODE OF THE TOWN OF LOS GATOS, INCREASING TOWN CONTRIBUTIONS TO THE TOWN RETIREMENT PLANORDINANCE NO. 1321 URGENCY ORDINANCE AMENDING THE TOWN CODE OF THE TOWN OF LOS GATOS, INCREASING TOWN CONTRIBUTIONS TO THE TOWN RETIREMENT PLAN THE TOWN COUNCIL OF THE TOWN OF LOS GATOS DOES ORDAIN AS FOLLOWS® SECTION 1. Section 20­7 of the Los Gatos Town Code is amended to read as follows: SE C. 2 -7. TOW CON 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 an amount equal to eleven and three one hundredths per cent (0.1103) of a member employee's compensation before any deductions, as the same may become payable. 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 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 fro 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 20025.2 of the California Government Code. SECTION 2. Effective Date: Urgency Ordinance This Ordinance is an ordinance for the immediate preservation of the public peace, health and safety, and shall take effect immediately under the provisions of section 36937 of the Government Code, and the change effected by this Ordinance shall be operative July 1, 1976. The facts constituting the urgency are that the meeting and conferring process required by the Meyers - Milias -Brown Act to establish the terms and conditions of Town employment has resulted in an agreement that the Town employees' Social Security program will be discontinued and that money which would otherwise be used for Social Security contributions will be used for retirement contributions instead. Some Town employees are members of the Public Employees' Retirement System and some are members of a separate Town plan. The new contribution program will by virtue of state law be effective July 1, 1976 for members of the Public Employees' Retirement System but not until the effective date of this Ordinance for members of the Town retirement plan. -2- If this Ordinance is not effective July 1, 1976, employees of the Town entitled to equal consideration as to compensation will be treated unequally, the Town will be unable to fulfill its obligations under a memorandum of understanding and Town services could be interrupted. The above and foregoing Ordinance was duly and regularly adopted at a regular meeting of the Town Council of the Town of Los Gatos held on the 21st day of June , 1976, by the following vote: AYES: COUNCIL MEMBERS Mark B. DiDuca, John B. Lochner Albert B. Smith and Ruth Cannon. NOES: COUNCIL MEMBERS None. ABSENT: COUNCIL MEMBERS Mardi Gual SIGNED: MAYOR OF THE TOWN OF LOS GATOS ATTEST: CLERK F Tlf OF OS GATOS -3-