HomeMy WebLinkAbout1978-016-02/07/1978-APPROVING THE WITHDRAWL OF MICHAEL D. DITULLIO FROM THE CITY RETIREMENT PLAN AND SUBSTITUTING PARTIC RESOLUTION 78-16
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROVING THE WITHDRAWAL OF MICHAEL D. DiTULLIO
FROM THE CITY RETIREMENT PLAN AND SUBSTITUTING
PARTICIPATION ON HIS BEHALF IN THE ICMA RETIREMENT
CORPORATION'S DEFERRED COMPENSATION PLAN
WHEREAS, heretofore on March 4, 1971, the City Council
established a Retirement Plan for employees of the City; and
WHEREAS, Michael D. DiTullio is included as a participant
in that Retirement Plan; and
WHEREAS, the said Michael D. DiTullio was originally
employed in the service of the City as Assistant City Manager
and has served in that capacity, in the capacity of Interim
City Manager and in the capacity of Department Head; and
WHEREAS, the City Council has previously recognized
that the position of Assistant City Manager is unique among
City employees and normally involves employment of individuals
with previous experience in other municipalities whose
tenure of employment with the City of Fort Collins may not
normally extend to time of retirement, and
WHEREAS, the recognition of this fact caused the City
Council to previously authorize that retirement benefits for
Assistant City Managers be provided through participation in
the Deferred Compensation Plan of the ICMA Retirement Corpora-
tion instead of through the City Retirement Plan; and
WHEREAS, in the opinion of the City Council retirement
benefits for Michael D. DiTullio should be handled in this
fashion in recognition of the fact that he was employed by
the City initially as an Assistant City Manager and his
educational qualifications and Sob experience make it likely
that he will continue in the City Manager field.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE
CITY OF FORT COLLINS:
1. That the City Retirement Plan adopted by resolution
of the City Council on March 4 , 1971, is amended to delete
Michael D. DiTullio as a participating City employee in such
plan.
2. Any amounts which would have been payable by the
City into the City Retirement Plan on behalf of Michael D.
D1Tullio if he were a participant in such plan shall be
instead paid into the Deferred Compensation Plan established
for him with the ICMA Retirement Corporation.
3. All amounts heretofore paid into the city's Retirement
Plan on behalf of Michael D. DiTullio shall be withdrawn
from the City Retirement Plan and paid into the Deferred
Compensation Plan established for him with the ICMA Retirement
Corporation. The amounts to be so withdrawn shall be only
the amounts paid in and not any increases which have been
earned on such amount.
4. This resolution shall be effective at such time as
Michael D. DiTullio executes a waiver of all claims to
benefits or rights under the City Retirement Plan.
Passed and adopted at a regular meeting of the City
Council held this 7th day of February, A.D. 1978.
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A EST. Mayor ,
C yCer
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