Impact
WARD / COUNCILMEMBER: Citywide
$ IMPACT:
Title
Approval of amended and corrected Defined Benefit Retirement Plan documents with ordinance and authorize the Mayor to sign and execute all related documents.
Body
ISSUE AND BACKGROUND:
The amendment to the Plan updates the Pension Committee by replacing the Chairperson of the Human Resources Committee with the Chairperson of the Special Committee on Budget. It also corrects a scrivener’s error relating to “earnings”. The documents to be approved replace those approved and executed at the 02/03/2020 City Council meeting.
RECOMMENDATION / REQUESTED ACTION: Human Resources Staff recommends approval of amended and corrected Defined Benefit Retirement Plan documents and ordinance and authorize the Mayor to sign and execute all related documents and authorize the Mayor to sign and execute all related documents.