HomeMy WebLinkAbout1977-034-05/17/1977-ADOPTING A RETIREMENT PLAN FOR THE CITY OF FORT COLLINS i
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j RESOLUTION
OF THE COUNCIL OF THE CITY OF FORT COLLINS
ADOPTING A.RETIREMENT PLAN
FOR THE CITY OF FORT COLLINS
WHEREAS, in 1971 Coates, Herfurth and England Consulting
Actuaries for the City of Fort Collins prepared four alternative
employee retirement plans for the City of Fort Collins; and
WHEREAS, on March 4, 1971 , the City Council by resolution
adopted a Retirement Plan prepared by Coates, Herfurth and England,
but did not specify which alternative plan was being adopted; and
j WHEREAS, in April 1975, the City Council approved by motion
an increase in the City's contribution rate to the Employee Retirement
Plan to 6.312%, the purpose of said increase being to recognize
an employee's ten year vested interest in the plan; and
WHEREAS, the ten year vested interest provision has never been
incorporated into any retirement plan; and
WHEREAS, a final copy of the City of Fort Collins Employee
Retirement Plan, including a ten year vested interest provision,
has been prepared and approved by the Employee Retirement Board:
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
FORT COLLINS that the Employee Retirement Plan of the City of Fort
Collins dated May 2, 1977, be adopted as the Retirement Plan for the
City of Fort Collins, effective upon adoption; and
BE IT FURTHER RESOLVED that said plan shall be in effect as the
Retirement Plan of the City unitl further action of the City Council .
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Passed and adopted at a regular meeting of the City Council held
on this 17thday of May, A.D. 1977.
,_ Mayor
j ATTEST: ^ •
1
City Clerk ,
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Retirement Plan car the City
of Fort Collins, Colorado
If the Retirement Committee, with the support of medical evidence,
jdetermines that such disability has ended- prior to the member's normal retire-
ment date, any disability retirement benefit payable to such member shall
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cease, and if such member is re-employed by the City prior to his normal
retirement date and. within 90 days of termination of disability, his status
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under the Plan immediately prior to his date of disability shall be reinstated,
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without impairment of his retirement benefits by reason of payments made to
him during disability, but his credited service shall not include the period
from his disability retirement date to. his date of re-employment.
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