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.
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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
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