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