Title
Resolution Authorizing Summary Publication Of Ordinance No. 09-20 Amending Section 1:552 And Adding New Sections Which New Sections Shall Be Designated As Sections 1:595 And 1:596 Of Chapter 18, Employees Retirement System, Of Title I Of The Code Of The City Of Ann Arbor
Memorandum
The attached resolution authorizes the summary publication of Ordinance No. 09-20.
The Ordinance amends Section 1:552, Definitions, of Chapter 18 by adding new Subsection 1:552(28) defining Health Benefit Fund pursuant to Internal Revenue Code, 1:552(29) defining a Qualified Transfer pursuant to Internal Revenue Code and 1:552(30) defining Code as IRS Internal Revenue Code as amended. In addition the Ordinance amendment adds new Sections designated as Section 1:595, Health Benefit Fund, and Section 1:596, Retiree Health Care Benefits to Chapter 18. The addition of the new Sections 1:595 and 1:596 to Chapter 18 conforms the documentation of such programs to previous operations and provide for compliance with federal tax laws. Specifically, the provisions of the new Sections documents the City's previous transfer of excess Retirement System assets into a health benefit fund within the Retirement System, and use of those transferred monies to pay the City's retiree medical costs incurred for the years of the transfers.
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: 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. 09-20 be published by the following summary:
An Ordinance to amend Chapters 18, Employees Retirement System, of the City Code, to conform the documentation of such programs to previous operations and to comply with federal tax laws. In particular, to add new Sections 1:595 and 1:596 to the Retirement System provisions regarding the City's previous transfer of excess Retirement System assets into a health benefit fund within the Retirement System, and use of those transferred monies to pay the City's retiree medical costs incurred for the years of the transfers and to update Section 1:552 to include new definition terms to support the additional provisions.
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.