Tracy Municipal Code Ch. 2.16 Retirement System

A contract is hereby authorized between the City and the Board of Administration, California State Employees' Retirement System, a copy of said contract being filed in the Office of the City Clerk, and by such reference made a part hereof as though herein set out in full.

(Prior code § 2-4.01)

The Mayor is hereby authorized, empowered and directed to execute said contract for and on behalf of the City.

(Prior code § 2-4.02)

The Council shall provide, in the manner hereinafter mentioned, retirement benefits for all the eligible officers and employees of said City who shall be such officers and employees at the time the required contract with the Board of Administration of the California State Employees' Retirement System becomes effective, and also such eligible officers and employees entering the service of said City thereafter, as hereinafter provided.

(Prior code § 2-4.03)

The Council is hereby authorized and directed to enter into a contract on behalf of the City with the Board of Administration of the California Public Employees' Retirement System for the purpose of participating in said system by the City, making its eligible officers and employees members of said system, subject to, and in accordance with, the provisions and requirements of the "State Employees' Retirement Law" of the State, and amendments thereto.

(Prior code § 2-4.04)

If any amendment is made to said "State Employees' Retirement Law" after the City has become a participant in said retirement system, which amendment would increase the burden of the City with respect to its financial obligations, and action will be required by the Council to make such amendment applicable to the City, the Council shall exercise its discretion as to whether or not such amendment shall be made so applicable.

(Prior code § 2-4.05)