HomeMy WebLinkAboutResolution 797 Employee Pension Plan
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RESOLUTION NO. 797
A RESOLUTION OF THE CITY OF WINTER SPRINGS, FLORIDA, ADOPTING
THE EIGHTH AMENDMENT TO THE CITY OF WINTER SPRINGS' AMENDED
AND RESTATED MONEY PURCHASE PENSION PLAN FOR THE EMPLOYEES
OF THE CITY OF WINTER SPRINGS, FLORIDA AS ATTACHED HERETO,
SEVERABILITY, CONFLICTS AND EFFECTIVE DATE, OCTOBER 1, 1996.
WHEREAS, on April 30, 1996, the City Commission adopted an amended Employees' Pension
Plan providing for:
a) Increasing the employer's contribution from six percent to seven percent of gross
pay for Fiscal Year 1997;
b) Participants contributing one percent of gross pay for Fiscal year 1997;
WHEREAS, the City Commission appropriates in Fiscal Year 1997, $243,120 in the General
Fund and $60,780 in the Enterprise Funds, to pay for this amendment, effective October 1, 1996 and;
WHEREAS, Section 14-51(b) of the Code of Ordinances of the City ofWmter Springs requires
the Pension Plan to be amended by Resolution of the City Commission;
WHEREAS, the provisions of the Eighth Amendment are attached hereto;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF WINTER SPRINGS, FLORIDA THAT THE EIGHTH AMENDMENT TO
THE PENSION PLAN AS ATTACHED HERETO IS:
PASSEDANDADOPTEDTHIS 9tJJ DAYOF~k~J ,1996
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Y OF WINTER SPRINGS, FLORIDA
ATTEST:
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