1965-3380r
RESOLUTION No. 3380
RESOLUTION URGING APPROVAL OF LEGISLATION ALTERIlVG PUBLIC EMPLOYE
RETIREMENT ASSOCIATION SYSTEM ENABLING EMPLOYEES TO HA~tE THE OPTION
COVERAGE UNDER 'THE PUBLIC EMPLOYEES R~IREMENT ASSOCIATION OR OLI)
AGE SURVIVORsS AND DISABILITY INSURANCE PROVTSIONa OF THE FEDERAL
SOCIAI, sECURITY ACT S~.F. 1194
WfiEREAS, the employees p~'esently me~abers of of the City of Richfield
have expressed their disapproval of the Public Employee Retirement Association
(PERA) plan as it is presently constituteds and
WHEREAS, the City of Richfield has consistentl~r opposed legislation seeking
to broaden the base or other~rise extend benefits under the PERA as it is now
constituted9 and
T~iEREA8~ opposition of the present PERA system by the City of Richfielde
other municipalities and governmental and employee groups is based on the fact
that the present PERA system operates with-an actuarial deficit9 which is un-
sound, and
WHEREAS, the provisions of the- Federal Social Security Act prov_ ide for a
system of Old Age Survivorss and Disability Insurance (OASDT) ~.3.ch. would ~®nefit
many City of Richfield employees as well as those of other goveri9iriental units
throughout the States while not ~.eapardizing the benefits of those employees
whose best interest dictates their continuance-under PERA, 'therefore
BE IT RESOLVED by the City Council of the City of Richfield that-passage
be urged in the strongest possible terms ,of Senate Fill 1191, introduced rota
the Legislature of the State of Minnesota on March 20, 19639 enabling emplo~*eee
presently required to belong to PEBA to have the option to "6e covered under the
OASDI provisions of-the Federal Social Security Act9 to require-that new ~ _
ployees b® covered under the OASDI provisions 'of the Fedez°al Social~3ecurity-.Act
in the manner outlined in Section lO9 S.F. 1191, and that an actuarial-s~v'ey of
PIl~A be performed with the intention of eliminating the.. aotuax°ial deficit cle~
termined thereby within a reasonable time; and.. the-Clerk be and. is hereby-directed
to forward copies of this resolution to th.e .members of. the House. aa~l` Senate
Commitsees for Civil Administration9 snd-the. Senator and Representative from
this district and to the Governoro
'Passed by the City Counci]. of the City of Richfield this 8th day of M~rch9
1965
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tanley ~ TrTe O s n May®r
ATTESTS
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Edward ine c er