HomeMy WebLinkAboutCC-03-07-88-01 PerfRESOLUTION ELECTING TO ENLARGE PARTICIPATION IN
THE PUBLIC EMPLOYEES' RETIREMENT PUND
WHEREAS, The Common Council is the governing body of the City
of Carmel in Hamilton County, in the State of Indiana; and
WHEREAS, the actuary for the Public Employees' Retirement
Fund has furnished such governing body with certain cost
estimates to become a participant in such Fund as established by
the Acts of 1945, Chapter 340, and all Acts amendatory and
supplemental thereto; and
WHEREAS, such governing body is fully cognizant that the per-
centage of cost of gross annual payroll of covered employees has
been set at 4.25% and $0.00 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
Common Council of Carmel, in Hamilton County, in the State of
Indiana:
SECTION ONE: The Judge of the Carmel City Court 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 January 1, 1975.
SECTION TWO: The Judge of the Carmel City Court 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 POUR: It is hereby declared that none of the classi-
fications or positions specified in Section Three are compensated
on a fee basis or of an emergency nature, or in a part-time cate-
gory.
SECTION FIVE: The active participating membership of the
Judge of the Carmel City Court shall begin on January 1, 1988.
SECTION SIX: This Resolution shall be in full force and
effect from the date of its 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 ~.~A~..~/ , 1988.
SIGNATURES OF GOVERNING BODY
DOR(~THY J.~ ANCOCK, Chairman