HomeMy WebLinkAboutCC-11-05-84 PERFA RESOLUTION ELECTING TO ENLARGE P~TICIPATION IN
THE PUBLIC EMPLOYEES' RETIR~ENT FU~
is the governing body of
WHEREAS, Common Council in Hamilton
the City of Carmel --
Counny, in the State of Indiana, and
WHEREAS, the actuary for the Public Employees' Retirement Fund has furnished
such governing body y the Acts of 1945, Chapter 340 and all Acts amendatory and
'Fund as established ~ith certain cost estimates to become a participant in such
supplemental thereto and,
WHEREAS, such governing body is fully cognizant that the percenna~e4.5 % by of the cost of
gross annual payroll of covered employees has been set at
actuary of the Fund, and that at five yea~ intervals, or more often as directed
by the Board of Trustees of the Public Employees' Retiremenn 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 appropr~iate sufficient funds each year to
retire the employees' prior service liability in an orderly manner and also fund
the current costs accruing annually.
NOW THEREFORE, BE IT ORDAINED by the governing body of the
in Hamilton County in
City of ~armel
the State of Indiana:
SECTION ONE: The City of Carmel 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, and all Acts
amendatory and supplemental thereto. This agreement supplements the original
dated January 1, 1975
SECTION TWO: The City of Carmel agree~s to make the required contributions
under the Public ~mployees' Retirement Fund Act lhich is the ACtS of 1945,
Chapter 340, and all Acts amendatory thereofl and
specifically the Acts of 1955, Chapter 329, ~comn
Public Employees' Social Security Integration ar
Benefits Act."
SECTION THREE: The following are declared to b~
__Ma_~_a_~ and Clerk-Treasurer
SECTION FOUR: It is hereby declared that none
specified in Section Three are compensated on a
nature, or in a part-time category
SECTION FIVE: The active participating members
Mayor and Clerk-Treasurer sh
supplemental thereto, including
)nly designated as "The Indiana
Supplemental Retirement
covered by the Fund:
~f the classifications or positons
fee basis or of an emergency
~ip of the City of Carmel
~11 begin o~-January 1, 1985
SECTION SIX: This Resolution shall be in flull force and effect from date of
passage and upon ~pproval of the Board of Trustees of the Public Employees'
=ti~nt Fund o~ Indiana, except that active participation membership shall begin
n the ~ set f%rth in section five.
OVED " Common~ouncil of the City of