Chapter 2.44 — PENSION PLAN

A pension plan providing retirement and death benefits for employees of the City of Mill Valley is hereby adopted. The pension plan hereby adopted shall provide the same benefits and shall require the same contributions as would be provided and required if the employees of the City of Mill Valley were entered under the state employees' retirement system. For "local safety members," as defined in the State Employees' Retirement Law, the benefits provided and contributions required shall be as established for the one and one-quarter percent system payable at age 60 under the State Employees' Retirement Law, for "Local Miscellaneous Members," as defined in the State Employees' Retirement Law, the benefits provided and contributions required shall be as established for the one-seventieth system payable at age 65 under the State Employees' Retirement Law.

For City employees who were participants of the former City Employees' Retirement Plan with Occidental Life Insurance Company, the above described benefits shall include any benefits payable from the former plan by the Occidental Life Insurance Company. (Ord. 542 § 1, December 24, 1962; Ord. 577 § 1, October 21, 1963)

For the purpose of establishing and administering the pension plan provided for therein there are hereby adopted by reference, but only to the extent that the same may be applicable, all of the provisions of the State Employees' Retirement Law, being Part 3 of Division 5 of Title 2 of the Government Code of the State of California. The City Council of the City of Mill Valley shall discharge all the functions and duties of the Board of Administration under the state employees' retirement system. (Ord. 542 § 2, December 24, 1962)

A miscellaneous member shall be compulsorily retired for service on the first day of the calendar month succeeding that in which he or she attained age 65. (Ord. 577 § 2, October 21, 1963)