HomeMy WebLinkAbout1988-025-02/09/1988-FIRE PENSION PLANS HOUSE BILL 1168 MONEY PURCHASE PLAN OPTION OLD HIRE POLICE RESOLUTION 88-25
OF THE COUNCIL OF THE CITY OF FORT COLLINS
SUPPORTING THE PASSAGE OF HOUSE BILL 1168,
WHICH WOULD ESTABLISH A MONEY PURCHASE PLAN OPTION
FOR OLD HIRE POLICE AND FIRE PENSION PLANS NOT
AFFILIATED WITH THE FIRE AND POLICE PENSION ASSOCIATION
WHEREAS, the City Council of the City of Fort Collins desires to give
members of the Police and Fire Old Hire Pension Plan an option of remaining
in the Fire and Police Defined Benefit Pension Plan, or belonging to a
Money Purchase Pension Retirement Plan; and
WHEREAS, House Bill 1168 would afford members of the Police and Fire
Old Hire Money Purchase Pension Plan an ability to exercise such option;
and
WHEREAS, House Bill 1168 provides the employer the final determination
as to whether the option of converting to a money purchase plan be offered
to members of the plan after a vote is taken and the actual effect on the
fund is determined; and
WHEREAS, House Bill 1168 is supported by the City's Police and Fire
Pension Boards, local police and fire unions, the Colorado Association of
Chiefs of Police, and the Colorado Municipal League.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
1 . That the City Council of the City of Fort Collins hereby supports
the proposed legislation known as House Bill 1168.
2. That the City Council encourages the State Legislature and the
State Finance Committee to support the passage of House Bill 1168.
Passed and adopted at an adjourned meeting of the Council of the City
of Fort Collins held this 9th day of February, A.D. 1988
M ayotr
TTE ,a. 1 l
City Clerk