PARTICIPATION AGREEMENT AMENDMENT NO. 4

The Public Employees’ Retirement System (PERS) Participation Agreement entered into between

the State of Alaska (hereafter referred to as the State) and the City of Homer on May 1, 1986, and approved by the State on May 15, 1986 is amended effective November 15, 2005, by changing subparagraph A (2) on page1 to read as follows:

A. (2)

The Political Subdivision agrees that (optional):

All permanent full-time employees (those whose positions normally require 30 or more hours of work each week) will participate in the PERS except for those employees in the following departments, groups or other classifications as designated by the Political Subdivision:

Excluding seasonal employees as defined by AS 39.35.680 (37), the Chief of Police and all elected officials.

Authorized Representative Signature

Walt Wrede

Authorized Representative Name (please type/print)

City Manager

Authorized Representative’s Title

Approved:

Administrator

Date