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HomeMy WebLinkAboutRES79-38RESOLUTION NO. 79-38 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF APACHE JUNCTION, ARIZONA AUTHORIZING THE PRELIMINARY STEPS TO BE TAKEN TO BECOME A PARTICIPATING EMPLOYER IN THE PUB- LIC SAFETY PERSONNEL RETIREMENT SYSTEM ON BEHALF OF THE FULL-TIME POLICE OFFICERS OF THE CITY OF APACHE JUNCTION, ARIZONA. WHEREAS, The Public Safety Personnel Retirement System has been cre- ated by the State of Arizona in order to provide a uniform consist- ent and equitable state-wide program for public safety personnel who are regularly assigned hazardous duty; and WHEREAS, Pursuant to the terms of said Public Safety Personnel Re- tirement System it is optional for a political subdivision to in- clude within said system its full-time police officers; and WHEREAS, It is deemed in the best interest of the City of Apache Junc- tion, Arizona to include all full-time police officers who are regular- ly assigned hazardous duty under the Public Safety Personnel Retirement System Act as set forth in Article 4, Chapter 5, Title 38, Arizona Re- vised Statutes as amended 1971; NOW THEREFORE BE IT RESOLVED By the City Council of the City of Apache Junction, Arizona as follows: 1.It is hereby authorized and requested that a preliminary actuarial survey be made to determine the estimated cost of participation, the benefits to be derived, and such other information as may be deemed appropriate, the cost of said survey to be paid by the City of Apache Junction, Arizona. 2.The City Clerk is hereby authorized to provide and turn over such records as are necessary to make the actuarial survey. 3.The Mayor and City Clerk are authorized to take whatever steps that are necessary to carry out the intent of this Resolution. 4.The City Clerk shall file a certified copy of this resolu- tion with the Fund Manager of the Public Safety Personnel Retirement System. RESOLUTION NO.79-38 Page 2 Approved by the City Council this /day of '2-e.Ae--A441979. ATTEST: e 7 ; 4 ; %e 9 ity Clerk APPROVED AS TO FORM: 441re *WO ARIZONA PUBLIC SAFETY PERSONNEL RETIREMENT SYSTEM JOINDER AGREEMENT THIS AGREEMENT, entered into this 7 day of November effective as of the 1st day of December 19 79 , , 19 79, by and between the undersigned Employer and the Fund Manager of the Arizona Public Safety Personnel Retirement System WITNESSETH: WHEREAS, the Employer is a public body deriving its powers from the legis- lature of the State of Arizona which employs certain employees in the field of public safety who are regularly assigned to hazardous duty, and WHEREAS, the Employer, after considering its cost requirements to provide retirement and other benefits to its public safety employees through the Arizona Public Safety Personnel Retirement System, has determined to provide benefits for such employees through the Arizona Public Safety Personnel Retirement System and has adopted a resolution and followed such other pro- cedures as are necessary to elect to join such System, and WHEREAS, the Fund Manager of the Arizona Public Safety Personnel Retirement System has considered the request of the undersigned Employer to join the System and has approved the participation in the System of such Employer; NOW, THEREFORE, for and in consideration of the premises and the mutual covenants herein contained, the Employer and the Fund Manager hereby agree as follows: 1.By execution of this Joinder Agreement the undersigned Employer unconditionally adopts, accepts, and agrees to be bound by all the terms and conditions of the Arizona Public Safety Personnel Retirement System with respect to the following %Woe designated class of employees: city of Apache Junction Police Personnel and for and on behalf of such employees binds them to such System as their sole source of retirement benefits provided by the Employer, exclusive of Federal Social Security, and hereby agrees that it will not establish any other retirement program for such employees. 2.The undersigned Employer further agrees that it will make contributions to the System for such employees which shall be sufficient to meet the normal cost of benefits for Such employees, on a level cost method, and to meet the interest on its past service cost for such employees, as provided in Article 4, Title 38, Arizona Revised Statutes. 3.The Fund Manager, by execution of this Joinder Agreement, accepts the Employer for participation in the System. 4.The undersigned Employer hereby represents that it has taken all action necessary to terminate any existing retire- ment program for the designated emliloyees and upon the ef- fective date hereof, such other program will be terminated. Employer hereby agrees that all assets in such prior program attributable to such employees hereby and transferred to The Fund Manager of the Arizona Public Safety Personnel Retirement System.Employer agrees to provide a statement of the accumu- lated employee contribution accounts in such prior program. Employer shall deliver possession of said assets within sixty (60) days after the effective date of this agreement. •e %ow IN WITNESS WHEREOF, the Employer has caused to be executed in its behalf by a duly authorized officer and The Fund Manager has executed this Joinder Agreement this 1 day of December , 19 79 . FUND MANAGER: e Fund Mnager • Public Safety Personnel Retirement System EMPLOYER: CITY OF APACHE JUNCTION By _G. Ray Le CITY MANA (Official Position or Title)