HomeMy WebLinkAboutRESOLUTIONS - 01011961 - RES-032 IN THE BOARD OF SUPERVISORS
OF
CONTRA COSTA COUNTY, STATE OF CALIFORNIA
In the Matter of Endorsing
AB 1392, relating to County RESOLUTION NC).
employees retirement .
WHEREAS, Mr. Benjamin O. Russell has presented to this
Board proposed clarifying amendments to AB 1329 relating to County
employees retirement;
NOW, THEREFORE, BE IT RESOLVED that this Board does ap-
prove and endorse said proposed legislation, a copy of which is
attached hereto and incorporated herein by reference .
PASSED ANIS ADOPTED this pith day of April, 1961, by the
following vote of the Board:
AYES. Supervisors James P. Kenny, Mel F. Nielsen,
Thomas John Coll, Edmund A . Linscheid, Joseph
S. Silva.
NOES: None .
ABSENT: None .
RESOLUTION NO. 3 2
An act to add Article 12.7 (commencing with Section 31795) to
Chapter 3, Part 3, Division 4, of Title 3 of the Government Code,:
relating to County employees retirement.
The people of the State of California do enact as follows:
SECTION 1., Article 12.7 (commencing with Section 31795) is
added to Chapter 3,; Fart 3,. Division 4, of Title 3 of the Govern-
ment Cade, to read:
Article 12.7. Cost of Living Adjustment
31795, Notwithstanding any other provisions of this chapter (com-
mencing with Section 31+50) every retirement allowances optional
death allowance, or annual Beath allowance, payable herein to or
on account of any member who retires or dies or who has retired or
died in any county which ma#rpt;$ e-�t-reserve-e -eertngr�- n-t��e-pe
re�en - €fie - ee- 1 -enc- i -+ - -peg►-ee �-e where forthe
12 months recedin the immediate 'Past Janua lst the earn n s :�a
M retirement fund were at a rate of one a o er cent or
more: in excess of the rate of interest
bene-ef-seat► as set b t ie Board of Supervisors pursuant to Seew
t 2� shall, on July st o eachyear, e ncrease or e-
crease ased on the total allowance then being received in an
amount found by the Board to approximate the increase or decrease
in the cost of living for the Zreceding twelve months as shorn by
the current Consumers Price exs pu is e or t e locality in
which the County is situated, as determined by the board, in an
amount of not more than three fourths of I per cent per annum for
each avlt iple-ef one half of 1 per cent of-the-emeess that such
earnings interest rate exceeds such interest rate as set- In 3ec-
t on ut in no event Mir' any decrease re uc.e the alloWaince
to an amount less than the amount being received by the member or
his beneficiary on the effective date of the allowance or on the
application of this article whichever is later. Any increased pay-
ment provided by this article shall be paid only from the reserve of
earnings described in Section 31592 and any decrease shall be de-
ducted from t e TEcFeased allowance of the member or his beneficiary,,
e�a�-p�:eeed-��s-��e-»reerer�r�r
31796. If at any time the balance remaining in the reserve described
in Section y1'`92 is insufficient to pay the increases in allowances
pFov_f ed n Section 31795 the such increases JR-r 1J&weneee shall be
discontinued until such time as die reserve is again capable of paying
nererx: e►e- r�-e3� err > ees them, at which time the payment of the increases
shall be resumed.
k :
31797. Section 31481 does not apply to this article (commencing
with Section 31795,)
31798. This article (commencing with Section 31795) may be made ap-
plicable in any county on the first day of the month after the board
of supervisors of such county adoptsby majority vote,
an ordinance providing that this article shall become applicable in
such county providing further that an actuarial survey of the system
has been made by the adopting county's system prior to the passage of
said ordinance,
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