HomeMy WebLinkAbout2007 Resolution No. 093•
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RESOLUTION NO . .12
SERIES OF 2007
A RESOLUTION APPROVING AN INCREASE IN DEATH BENEFITS FOR THE
VOLUNTEER FIREFIGHTERS PENSION PLAN .
WHEREAS , the Englewood Firefighters Pension Board has reviewed a proposal 10 increase
the Death Benefit for the Volunteer Firefighters and recommends approval of an increase 10 $500
for the Death Benefit for the Englewood Volunteer Firefighters; and
WHEREAS , the pa ssage of this Resolution will increase Volunteer Firefighters Pension Plan
death benefit 10 $S00, 10 become effective October 16, 2007; and
WHEREAS , the Plan document mirrors the current benefits as defined in the Co lorado State
Statutes ;
NOW , THEREFORE , BE IT RESOLVED BY THE CITY COUNC IL OF THE CITY OF
ENGLEWOOD, COLORADO, THAT:
Scctjon 1. The City Council of the City of Englewood hereby approves the increase in Death
Benefit 10 $S00 for retired Volunteer Firefighters effective October '5, 2007 .
ADOPTED AND APPROVED thi s I 5th day of October, 2007 .
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COUNCIL COMMUNICATION
Date: Agenda Item: Subject:
Oc1ober 15, 2007 11 C iv A resolution adopting changes to the Ci ty of
Eng le woo d Vo lunteer Firefigh ters Pension Plan
Initiated By: I Staff Source :
Department oi Finance and Adminislralive Services Frank Gryglewicz , Direc1 or
COUNCIL GOAL AND PREVIOUS COUNCIL ACTION
Cily Counci l discussed lhis issue al a Stud y Session held on Se pt emb er 17, :?007. Council gave slaff
direc lion lo proceed wilh l hi s Resolulion .
RECOMMENDED ACTION
Sl aff re commends City Council appr ove 1he anac hed Res olu1i on.
BACKGROUND , ANALYSIS , AND ALTERNATIVES IDENTIFIED
This Reso lu1i on does nol subslanliall y change the currenl leve l of pens1 ..:n benefi1s fo r 1he volu nlee r
fire fi ghte rs. The Plan document mirr ors lh e cu rr en t benefils as defined in Co lorado S1a1e Stalules .
Th e Resolu1ion provides an increased additi ona l deal h benefit of $500 for relired vo lunl eer
firefighters .
No 01her all ernatives we re co nside red .
FINANCIAL IMPACT
This action will cost 1he Vol un1 ee r Firefig hler Pens io n Fund an esl imat ed $1 ,500. Th e Fund is
cu rr er.lly full y funded.
LIST OF ATTACHMENTS
Res olution