Chapter 2.82
ALTERNATIVE RETIREMENT FUNDS

Sections:

2.82.010    Availability – City’s contributions.

2.82.010 Availability – City’s contributions.

Any elected official of the city may notify the finance director of such official’s intent to participate in a retirement plan or account other than the Public Employees’ Retirement System (PERS). Such official may request that any city contribution that would otherwise be payable to PERS be paid on behalf of such official into such alternative retirement plan or account. In such event, the city shall make payment into such alternative plan or account on behalf of the public official in an amount equal to and at such times as are the same as the contribution the city would otherwise be made by the city to PERS. In no event shall the city be obligated to make any payments into such alternative plan or account in an amount greater than that which would otherwise be payable to PERS. In no event shall the city be obligated to make any payments at times other than that which would otherwise be payable to PERS. The city’s contribution shall not be considered an endorsement of nor participation in any such alternative plan or account. The city shall in no way be liable for any benefits or returns from such alternative plan or account, and the city shall incur no obligations whatsoever except for the payments provided for in this section. (Ord. 2869 § 1, 1998).