HomeMy WebLinkAbout2003 01 27 Regular H - 2 Pension Plan - Pension Resolution
012703 REGULAR H 2 PENSION PLAN
Page I of 1
COMMISSION AGENDA
ITEM
H-2
CONSENT
INFORMA TIONAL
PUBLIC HEARING
REGULAR X
January 27,2003
Meeting
MG~~ /DEPT
Authorization
REQUEST: City Manager requesting the City Commission receive information regarding the
30 year benefit period in the proposed Pension Resolution.
PURPOSE: This agenda item is needed to answer a question asked by the City Commission
regarding the 30 year benefit period proposed in the updated Pension Resolution.
CONSIDERATIONS:
Question: At the December 9, 2002 Commission meeting the Commission asked if the 30 year
benefit period begins at the date of employment or the last 30 years worked.
Answer: The 30 year benefit period begins with the date of employment.
Recommendation: It is recommended that the provision be sustained as recommended in the
new Pension Plan Resolution and Plan Document.
FUNDING:
There are no funding impacts if the policy is sustained.
RECOMMENDATIONS:
It is recommended that the pension benefit period be sustained as recommended in Resolution
Number 2002-39 amending the City's Pension Plan Document.
A TT ACHMENTS:
COMMISSION ACTION: