HomeMy WebLinkAbout1977-043-07/05/1977-APPROVING THE WITHDRAWAL OF PAUL A. LANSPERY FROM THE CITY RETIREMENT PLAN AND SUBSTITUTING PARTICIP ,
RESOLUTION 77-43
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROVING THE WITHDRATLAL OF PAUL A. LANSPERY
FROM THE CITY RETIREMENT PLAN AND SUBSTITUTING PARTICIPATION ON
BTE34LF OF PAUL IANSPERY IN THE IOTA RETIREMENT CORPORATION'S DEFERRED COMPENSATION PLAN
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WHEREAS, heretofore on March 4, 1971, the City Council established a retire-
ment plan for employees of the City; and
WHEREAS, the Assistant City Manager is included as a participant in that
retirement plan; and
WHEREAS, the City Council recognizes that this aforementioned position is
unique among City employees and normally involves employment of individuals with
previous experience in other municipalities; and
WHEREAS, because of these unique aspects of this position, it is the opinion
of the City Council that retirement benefits for the Assistant City Manager should
not be provided through the City retirement but would better be provided through
participation in the Deferred Compensation Plan of the ICMA Retirement Corporation.
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 the Assistant City Manager 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 the behalf of the Assistant City Manager, if he was a participant
in such plan, shall instead be paid into the Deferred Compensation Plan established
for this individual with the ICMA Retirement Corporation.
3. All amounts heretofore paid into the City retirement plan on behalf of
Paul Lanspery shall be withdrawn from the City retirement plan and paid into the
Deferred Compensation Plan established for the Assistant City Manager with the Ia R
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 The amounts" to be so withdrawn shall be only the amounts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 the Assistant City.
Manager executes a waiver of all claims to benefits or rights under the City Retire-
ment Plan.
Passed and adopted at a regular meeting of the City Council held the
5th day of July A.D. 1977.
ATTEST: Mayor
�J M
City Zlerk