HomeMy WebLinkAboutCC-02-19-96-02 Employee Retirement Fund /T~ION ELECTING TO E.:TLARGE PARTICIPATIO,
THE PUBLIC EMPLOYEES' P£TIREMENT FUND
CC-02-19-96-02
the City of Carmel in C~T~ i3ton County
Ln ~e ~a~e o~ Zn~Lana,
WHEREAS, such governing body is fully cognizant that the percentage of cost of gross
annual payroll of covered employees has been set at 4.75 % and $ a~'
by the actuary of the Fund, and that at five year intervals, or more often if
directed by the Board of Trustees of the Public Employees' Retirement Fund, the
actuary will review the status of the employees covered and shall adjust the cost
percentage accordingly so that the FUND will remain on an actuarially sound basis,
and
WHEREAS, such governing body acknowledges its liability and that, pursuant to law,
it and its successors in office, must appropriate sufficient funds each year to
retire the employees' prior service liability in an orderly manner and also fund the
current cost accruing annually.
NOW THEREFORE, BE IT ORDAINED by the governing body of the City of Carmel
in Hamilton County,
in the State of Indiana:
SECTION ONE: The Carmel City Council elects to enlarge its
participation in the Public Employees' Retirement Fund by including additional
classes of employees as stated below in the coverage under Chapter 340 of the Acts
of 1945, all Acts amendatory and supplemental thereto. This agreement supplements
the original dated .
SECTION TWO: The Carmel City Council agrees to make the required
contributions under the Public Employees' Retirement Fund Act, which is the Act of
1945, Chapter 340, and all Acts amendatory thereof and supplemental thereto,
including specifically the Acts of 1955, Chapter 329, commonly designated as "The
Indiana Public Employees' Social Security Integration and Supplemental Retirement
Benefit Act."
SECTION THREE: The positions listed on Appendix A are declared to be covered by the
Fund.
SECTION FOUR: It is hereby declared that none of the classifications or positions
specified in Section Three are compensated on a fee basis or of an emergency nature,
or in a part-time category.
SECTION FIVE: The active participating membership of the
shall begin on 07/01/96
City of Carmel
SECTION SIX: This Resolution shall be in full force and effect from date of passage
and upon approval of the Board of Trustees of the Public Employees' Retirement Fund
of Indiana, except that active participating membership shall begin on the date set
forth in Section Five.
Dated this
day of /
APPROVED
BOARD Of tRi~5
PUBLIC [,MPt, OYE~S
FUND STATE 0[-
