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HomeMy WebLinkAbout1981-097-07/21/1981-DECREASING THE CITY'S CONTRIBUTION TO THE RETIREMENT PLAN OF THE CITY OF FORT COLLINS RESOLUTION 81-97 OF THE COUNCIL OF THE CITY OF FORT COLLINS DECREASING THE CITY'S CONTRIBUTION TO THE RETIREMENT PLAN OF THE CITY OF FORT COLLINS WHEREAS, on March 4, 1971, the City Council established a retirement plan for employees of the City, and WHEREAS, in May, 1981, the City received a report prepared by A S Hansen disclosing that the current 11 59% contribution rate is in excess of the amount needed to fund the normal cost of the plan and that the appro- priate contribution rate should be 4 385% of total eligible monthly sal- aries NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT COLLINS that the City's contribution rate to the employee retirement plan of the City of Fort Collins adopted on March 4, 1971, be decreased to 4 385% of the total monthly salaries of all eligible employees under said plan Passed and adopted at regular meeting this 21st day of July A D 1981 Mayor ATTEST City Clerk