HomeMy WebLinkAboutResolution 95-46 05/15/1995
.
.
.~
RESOLUTION NO. 95-46
A RESOLUTION REGARDING THE CITY OF SPRINGFIELD RETIREMENT MANAGEMENT COMMITIEE
WHEREAS, the City Council established the Retirement Management Committee on September 6, 1988,
as part of Resolution No. 88-32; and
WHEREAS, the Committee was limited to seven members and the Committee's responsibilities are
defined as:
1. Report annually to the City Council, City Manager, and employees on the plan's performance.
2. Recommend to the City Council the annual interest earnings to be credited to plan participant
accounts.
3. Evaluate annually the adequacy of the Reserve Fund.
4. Maintain effective employee communication about the plan's benefits and features.
5. Perform other Councilor City Manager delegated responsibilities.
and;
WHEREAS, Committee does not include union representation; and
WHEREAS, changes in the retirement program require that the Committee's responsibilities be restated;
and
WHEREAS, the existing Committee members recommend that a representative of OPEU and AFSCME
be appointed to the Committee.
NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City of Springfield that the
composition and responsibilities of the Retirement Management Committee shall be as follows:
Members of the Retirement Management Committee shall be appointed by the City Manager. The
Committee shall:
1. Report annually to the City Council, City Manager and employees on plan performance.
2. Maintain effective employee communication about plan benefits and features.
3. Perform other Council or City Manager delegated responsibilities.
ADOPTED by the Common Council of the City of Springfield this .15th day of May
,1995.
Adopted by a vote of ~for and ~against.
0;/f1l/~
ATIEST:
~~t~uu~
I
City Recorder
Attachment 4