Board Meeting Materials
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RESOLUTION NO 2011 090 <br />A RESOLUTION OF THE BOARD OF DIRECTORS OF <br />THE SOUTHERN CALIFORNIA PUBLIC POWER <br />AUTHORITY SCPPA ACKNOWLEDGING THE <br />PRESENT AND PREVIOUS SCPPA AUTHORIZATIONS <br />REGARDING THE PAYMENT OF TAX DEFERRED <br />MEMBER CONTRIBUTIONS PURSUANT TO THE <br />PROVISIONS OF INTERNAL REVENUE CODE SECTION <br />414h2RELATING TO EMPLOYER PICKUP <br />WHEREAS the Southern California Public Power Authority SCPPA or the <br />Authority owns interests in various generation and transmission projects the output of which <br />and the rights and obligations relating to the same have been delivered or conveyed to the <br />Members of the Authority Members and <br />WHEREAS since the inception of SCPPAs relationship with the California Public <br />Employees Retirement System CalPERS in 1992 when SCPPA joined CalPERS SCPPA has <br />provided for the payment of the member contributions to CalPERS and <br />WHEREAS the SCPPA provisions for the payment of member contributions have been <br />formally carried forth by the SCPPA Board of Directors by way of SCPPA Resolution 1993 31 <br />Resolution 1995 14 Resolution 2003 16 and Resolution 2008 24 among others and <br />WHEREAS for some time CalPERS has been issuing circular letters to the CalPERS <br />participating agencies indicating that in accordance with Section 414h2 of the Internal <br />Revenue Code CalPERS is requiring that these agencies have formal resolutions on file <br />approved by their governing bodies which formally authorize the employing agency to make the <br />payment of the member contribution similarly to the resolutions which SCPPA has had on file <br />for many years and <br />WHEREAS on December 29 2008 SCPPAs General Counsel wrote to CalPERS <br />stating that SCPPA has already adopted resolutions which have fully documented its compliance <br />with the CalPERS requirements relating to Internal Revenue Code Section 414h2 which have <br />been set forth in prior CalPERS communications concerning the employer payment of member <br />contributions and <br />WHEREAS CalPERS has recently communicated with SCPPA staff and has stated that <br />even though SCPPA has already provided by formal resolution for the employer payment of <br />member contributions CalPERS requires that this resolution be framed using the words which <br />CalPERS requires be used in this resolution and CalPERS has required that the SCPPA <br />resolution setting forth the employer payment of member contributions be set forth in the manner <br />which CalPERS has stated this subject must be stated in this SCPPA resolution and <br />WHEREAS SCPPA is a small agency while CalPERS is the largest public retirement <br />system in the United States and
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