Title
Resolution Authorizing Summary Publication of Ordinance No. ORD-11-01 Repealing Chapter 18, Employees Retirement System, Title I Of The Code of the City of Ann Arbor, and Adding a New Chapter 18, Employees Retirement System, of Title I of said Code
Memorandum
The attached resolution authorizes the summary publication of Ordinance No. ORD-11-01 which repeals and replaces Chapter 18, Employee Retirement System, of Title I of the Code of the City of Ann Arbor in its Entirety and adds a New Chapter 18, Employee Retirement System, of Title I of said Code.
The new ordinance reflects changes required by federal tax law and suggested by Michigan law. In addition the Ordinance has undergone a major restructuring as well as specific legal and administrative revisions. The more notable changes to the Ordinance fall into three principal categories:
· Changes required by federal tax laws and suggested by Michigan law
· Changes for clarification and ease of reading
· Changes proposed by the Pension Board which are member improvements
The Ordinance modifications do not involve changes in the benefits or contribution levels.
The City Charter contains provisions to allow summary publications of ordinances that are in excess of 500 words in length. The purpose of this resolution is to lessen the City's cost resulting from the required publication of the revisions to the City Code.
Staff
Prepared by: Nancy L. Niemela, Senior Assistant City Attorney and Mary Joan Fales, Senior Assistant City Attorney
Reviewed by: Stephen K. Postema, City Attorney
Approved by: Roger W. Fraser, City Administrator
Body
Whereas, Section 7.4 of the City Charter authorizes the publication by summary of ordinances over 500 words in length;
RESOLVED, That Ordinance No. ORD-11-01 be published by the following summary:
Ordinance No. ORD-11-01 repeals the existing Chapter 18, Employee Retirement System, and adds a new Chapter 18, Employee Retirement System, to the Code of the City of Ann Arbor. The new Chapter 18 has been revised to meet tax-qualification requirements of the Internal Revenue Code and as a matter of state law; and for clarity of contract, restructured to avoid ambiguities, reflect current Board administrative practices and reflect the City personnel policies, and applicable collective bargaining agreements.
The restated Chapter 18 concisely and accurately outlines the critical components of the pension calculation in the updated compensation, service and multiplier provisions of the ordinance. The restatement does not involve changes in the benefits or contributions of its members.
The ordinance will take effect on the tenth day following legal publication.
The complete text of this ordinance is available for inspection at the City Clerk's office on the 2nd floor of the Guy C. Larcom Municipal Building, 100 N. Fifth Ave., Ann Arbor.