HomeMy WebLinkAbout2011 Ordinance No. 050ORDINANCE NO . ..:JI}
SERIES OF 20 ! I
BY Al 'THORITY
COUNCIL BILL NO. 66
11\'TRODUCED BY COUNCil..
MEMBER \Vil.SON
AN ORDU,,\NCE ADOPTING AMENDMENTS TO THE CITY OF ENGLEWOOD POLICE
OFFICERS PENSION PLAN DOCUMENT (THE PLAN).
WHEREAS, the Ci ty of Englewood (the "Employer") es tablished the City of Englewood
Police Officers Pen sion Plan 'the "Pl an") effective as amended ond rcstotcd Janu:uy I. 1999; and
Wli.tKr.AS, pursuant lo Article XWofthe Plan, the En,p loye r has the outhority to amend the
Plan to comply with State or Federal requirements and maintain the q~alifi~d status of th e Plan;
and
WHEREAS , lmemal Revenue Service (IRS) or the Colorado State Stuutcs require an
amendment for the plan to comply with federal or state requirem ent s additional language at the end
of Anick XV, Section 2.b of the Plan that an eligible retirement plan includes a Roth IRA needs to
be added;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
ENGLEWOOD, COLORADO , AS FOLLOWS:
Section I . The City Council of the City of Englewood, Colorado hereby ado pts the iollowing
l,.nguage lo bt added to Article XV , Section 2.b of tho Ci ty of Englewood Polic.e Officers
Pension Plan effective January I , 2008, to read as follows :
Add to lhe end of Anicle XV, Section 2.b:
~...rui~gl!tn, ba!lJ>l§l!.1llc:nu,J1
Roth IRA<i0•.i:ibsd io Code 5ssliPP 408 tVs¼hlC£1.to any ap~l!ls;
limits described w.e~scc1jon 408.~
Sec ,ion 2. The Mayor and City Clerk are authurized IO sit,'11 and attest the Amendment to the City
of Engic,.ood Police Pension Plan Document .
q biv
Introdu ced , read i~ full , nnd pas sed on firs, reading en the 19th dny of September, 201 I .
Puhli sh cd by Tille as a Bill for nn Ordinance in the City's official newspaper on the :!3rd day of
September, 2011.
l'uhl ish c:d :•s u Bill fm an Odimmcl! 011 tlic City 's official webs ite bcg.1111i11g u 111 l 1L: 21 :-.1 day ur
Sc1>1c111her, 201 1 lor thiny (30) clay s
Rend hy ,i tl c nnd 1»1:se cl"" final reading tin the 3rd clay ofOet chcr , 20 11 .
l'uhhshcd by tlllc m th e Cit y's officia l newspaper'" Ordi nance No . 5/J. Series of 2011 , o n
the 7th da y ofOt,obcr. 2·)1 I .
Publi shed by tit le 0 11 ,!,c City's uflieia! web s ite beginnin g on the 5th day of October, 2011 fnr
thirty (3U) d ays .
~;,· 1,'). ,;;;,.,,=Q__
~. \ Jam~ K. Wl,od wurd , Mny or
:.-,L.LL/.~~~____!_41£ \.)
() ancri sl ·
I, Lo ucri shia /\. IJlis , City Clerk or the City of Engl ewood, Colorndo, her eby cc1 tify that th e
above and fo regomg 1s ~ tme copy of the Ordmance pass ed on final readmg and p.tbltshed by
1111c as Ordt:tance ',l o, 5.&., Senes ot 20 11 l// '
(/~-
COUNCIL COMMUNICATION
Dale Agwda Item Subject
Bi ll fur an Ordina,ce adooti11g
September 19, 20 11 ~:, •i amendm ents to the City of
Eng lewood Po li ce Officers
Pension Plan Doc ument (the Plan)
Ini tiated Ky
I
Staff Source
City of En gll'wuod, r 111an ce and Administra tiv e Fri1 nk C ryglewic.z, Direc to r
Services D e::ia rtment ..
COUNCIL GOAL A.'ID PREVIOUS COU NCI L AC TION
Th e Ci ty Coun cil pas se d Clrr'i nan,·e 47 , ~rries of 1999, adopting an amended Cit y of Englewood Poli '-e
Officers Pension Plan document.
City Co •Jn ci l dis cuss~d th e proposed changes at the Sep tembe r 6, 20 11 StJd\' Sess ion.
RECOMMENDED ACT ION
Stai' recommen ds the City Counci l appr ove the attached bill for an ordi nance.
BACKGROUND, ANA l\'S 15 , AND ALTERNATIVES IDENTIFIED
This bi ll io r an ordinance does not SLbSt,1ntia lly chang~ th e rnrren! leve l of persion benefi ts for the Police
Officers Pen sion Plan parti cipants. llie bill for an ordinance mak es changes re;i uired by the Internal
Re ve nu e '.>e rv1 ce [11<5) or Colorado State Statutes . Th e Pl an document Is a.11ended tu ,u111µI )' with federal
or c;t,,re requirement ~
Add th e foll o\'vi ng sentence to the en d o: Art icl e XV, SeLliu11 2.b:
Effect ive January 1, 2008, an eligible retirement plan shall als o mean a Ro th IR.~ descrrbec.J
,n Corie Sec1io n 408A(b), subject to rn r app licable li mits described in Cocrc Sec tion
4081\(c)
FINANCIAi IMPAG
Thi s change has no imp~~t on th e Plan 's funcing or tre Ci ty's financ ial condition .
LIS T OF ATTACH/\•\Ei'.JTS
Pr opo c.~ri hill for an o rdinance