HomeMy WebLinkAbout099 - 10/02/2012 - AMENDING THE CITY CODE AND ADOPTING THE FIRST AMENDMENT TO THE CITY OF FORT COLLINS GENERAL EMPLOYEE ORDINANCE NO. 099, 2012
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AMENDING THE CODE OF THE CITY OF FORT COLLINS
AND ADOPTING THE FIRST AMENDMENT TO THE CITY OF FORT
COLLINS GENERAL EMPLOYEES' RETIREMENT PLAN AS AMENDED
AND RESTATED JANUARY 1, 2012, TO CHANGE THE MAKE-UP
OF THE GENERAL EMPLOYEES RETIREMENT COMMITTEE
WHEREAS,the City adopted,effective January 1, 1971,a qualified defined benefit pension
plan known as the City of Fort Collins General Employees' Retirement Plan (the "Plan"), for the
purpose of providing retirement benefits for certain of its employees; and
WHEREAS, the City adopted a restated Plan to incorporate all prior amendments and other
changes required by law effective January 1, 2012; and
WHEREAS,the Plan was closed to new members in 1998, resulting in an ongoing decrease
in the percentage of active employee members and an increase in the percentage of terminated-vested
and retired members; and
WHEREAS,because of the changing make-up of the member categories participating in the
Plan, the General Employees' Retirement Committee (the "Retirement Committee"), has
recommended the amendment of the provisions of the City Code and the Plan to permit City Council
more flexibility in appointing individuals to the Retirement Committee from the three member
groups (active employee members, terminated-vested members, and retired members); and
WHEREAS, the City's Chief Financial Officer, who serves as a standing member of the
Retirement Committee,has requested the flexibility to appoint a designee from within the Financial
Services department, to serve in his place on the Retirement Committee; and
WHEREAS, Article XIV, Section 2 of the Plan authorizes the City Council to amend the
terms of the Plan.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS, COLORADO, as follows:
Section 1. That Section 21-87(a) of the Code of the City of Fort Collins is hereby
amended to read as follows:
See. 21-87. Membership; term.
(a) The Committee shall consist of six(6)members.The Chief Financial Officer
or his or her designee within Financial Services shall serve as a standing member of
the Committee, and the remaining five (5) members shall be appointed by the City
Council. Of the appointed members, four (4) shall be either an employee who is
covered by the Retirement Plan,a terminated-vested member of the Plan,or a retired
member of the Plan who is receiving a monthly retirement benefit. The fifth
appointee shall either be an employee who is covered by the Retirement Plan or an
individual who is a taxpaying elector of the City.
Section 2. That Section 1 of Article XVI of the City of Fort Collins General Employees'
Retirement Plan is hereby amended to read as follows:
Section 1. Appointment and Term of Retirement Committee Members. The
Retirement Committee shall be composed of six (6) members. The City's Chief
Financial Officer or his or her designee within Financial Services shall be a member
of the Retirement Committee and shall keep all records and minutes of meetings.
The other five (5) members of the Retirement Committee shall be appointed by the
City Council to serve at its pleasure and for overlapping terms designated by the City
Council. Of the five (5) appointed members, four(4)shall be either an employee of
the City who is covered by the Plan, a terminated-vested Member of the Plan, or a
retired Member of the Plan who is receiving a monthly retirement benefit. The fifth
appointee shall be either an employee of the City who is covered by the Plan or a tax-
paying elector of the City.
Section J. That the adoption of the amendment of the City of Fort Collins General
Employees' Retirement Plan by this Ordinance shall not prevent the amendment of said Plan by
resolution in the future.
Introduced, considered favorably on first reading, and ordered published this 18th day of
September, A.D. 2012, and to be presented for final passage on the 2nd day of October, A.D. 2012.OF FOR7r Ma r
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Passed and adopted on final reading on the 2nd day of October, A.D. 2012.
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