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AGENDA MEMORANDUM

 

Meeting Date:              March 9, 2009

 

From:                           Edward F. Smyth, Jr., Deputy City Manager

 

Subject:                       Ordinance amending the General Employees Pension Plan changing various sections of the plan to ensure compliance with federal regulations

 

 

Staff Recommendation:

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

Analysis:

These changes to the plan are at the request of the pension fund’s attorney, Scott Christiansen, to keep the plan in compliance with federal regulations.  These changes result in no actuarial impact.

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:    3/4/2009 3:31 PM____

 

Department: Administration

Prepared by:  EF Smyth, DCM                     

Attachments:         Yes____   No ______

Advertised:   ____Not Required ______                      

Dates:   _________________________

 

Attorney Review :       Yes___  No ____

_______________________________

Revised 6/10/04

 

Reviewed by: Dept. Head ________

 

Finance  Dept. ______JB__________                                     

                              

Deputy C.M. ________EFS________                                                                         

 

Submitted by:

City Manager ___________________

 

Account No. _________________

 

Project No. ___________________

 

WF No. ______________________

 

Budget  ______________________

 

Available _____________________