Description: AGENDAHED.JPG

Item No:††††††† ††††††††††† 5G.

 

Meeting Date:†††††††††† March 26, 2012

 

From:††††††††††††††††††††††††† Jay M. Evans, City Manager

 

Subject:††††††††††††††††††††† Ordinance amending the Retirement Plan for General Employees changing Section1 Definitions and Section 10 Optional Forms of Benefits

 

 


Staff Recommendation:

Staff recommends approval of the proposed ordinance amending the Retirement Plan for General Employees.

 

Analysis:

The changes to the Plan were discussed and approved at the Pension Board meeting held on March 6, 2012.The change to Section 1 Definitions is to correctly replace language related to Credited Service that was inadvertently omitted with the adoption of Ordinance No. 09-38.The change to Section 10 is related to the designation and process to subsequently change the memberís beneficiary and joint pensioner.

Options:

1.Adopt the Ordinance as presented; or

2.Such alternative action as the Commission may deem appropriate

 

Fiscal Impact:

There is no fiscal impact resulting from these changes.

 

 

Submission Date and Time:††† 3/21/2012 4:13 PM____

 

Department: __City Manager__________

Prepared by:__Jay M. Evans__________†††††††† †††††††††††††

Attachments:†††††††† Yes__X__†† No ______

Advertised:†† ____Not Required ______†††††††††††††††††††††

Dates:†† __________________________†††††††††††††††††††††

Attorney Review :†††††† Yes___No ____

††††††††††††††††††††††††††††††††††††††††† †††††††

_________________________________†††††††††††

Revised 6/10/04

 

Reviewed by: Dept. Head ________

 

FinanceDept. __________________†††††††††††††††††††††††††††††††††††

††††††††††††††††††††††††††††

Deputy C.M. ___________________††††† †††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††

Submitted by:

City Manager ___________________

 

Account No. _________________

 

Project No. ___________________

 

WF No. ______________________

 

Budget______________________

 

Available _____________________