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HomeMy WebLinkAbout079 - 06/07/1994 - AMENDING CITY CODE RELATING TO THE RETIREMENT COMMITTEE ORDINANCE NO. 79, 1994 OF THE COUNCIL OF THE CITY OF FORT COLLINS AMENDING SECTION 21-87 OF THE CODE OF THE CITY OF FORT COLLINS RELATING TO THE RETIREMENT COMMITTEE WHEREAS, on April 7, 1992, the City Council adopted Resolution 92-56 adopting the City of Fort Collins General Employees Retirement Plan as amended and restated effective January 1, 1992 (the "Plan") ; and WHEREAS, the Plan provides for a Retirement Committee to administer the Plan; and WHEREAS, the provisions of the City Code relating to the Retirement Committee are inconsistent with the provisions of the Plan; and WHEREAS, Council wishes to correct said inconsistencies. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS that Section 21-87 of the Code of the City of Fort Collins be amended to read as follows: Sec. 21-87. Membership; term. (a) The committee shall consist of five (5) members. The Director of Finance shall serve as a standing member of the committee, and the remaining four (4) members shall be appointed by the City Council . Of the appointed members, three (3) shall be employees who are covered by the retirement plan. The fourth appointee shall either be an employee who is covered by the retirement plan or an individual who is a taxpaying elector of the City. (b) Each member shall serve without compensation for a term of four (4) years, except that members may be appointed by the City Council for a shorter term in order to achieve overlapping tenure. Appointments shall specify the term of office of each individual . All appointed members shall be subject to removal by the City Council . If a vacancy occurs on the committee, it shall be filled by the City Council for the remaining unexpired portion of the term. No appointed member shall serve more than two (2) consecutive four- year terms. Introduced, considered favorably on first re ng, and dered published this 17th day of May, A.D. 1994, and to be prese d or fi p sage on the 7th day of June, A.D. 1994. `Mayor ATTEST: City Clerk Passed and adopted on final reading this 7th d f June, A a ATTEST: r\ City Clerk —�- —�