HomeMy WebLinkAbout1999 Resolution No. 054RESOLUTION ~10 . ff!!.
SER'.:S OF 1999
I J,,
A RE ."L ,llTION APPROVING AN INCREASE IN BENEFITS FOR THE RETIRED
PO!.JCi. OFFI CERS.
Wl 'l1:REAS , the Englewood City Council approved the City of Englewood'• 1999 Budpt
on October 19, 1998; anJ
WH}:REAS, the Englewood Polir 1 Officers' Pension Board have reviewed tha benelita i>r
t.he Police Officer Reti!-•eo and rea,·~a.ei>da approval of a $100 monthzy inereue for tiu.
Police Officers' who retired as of J1.11,unry 1, 1998; and
WHEREAS , the passage of this Resolution will increase the retired Police Officers
pension, to becom e effective January 1, 1999 for the retired Police Offi cers who retired prior
to Janulll:;· 1, 1998;
NOW, THEREFO!U:, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ENGLEW00D, COLORADO, THAT:
.sm:timu. The City Council of the City of Englewood herelr/ appnM11 the incnal<f in
benelita for the retired Police Officers E!!ective January 1, 1999. All members wbooe
paymeni.. commenced prior to ,January 1, 1998, ohall receive an incn,ue of $100.00 per
monl,h to their peneion benelita and a $6( .00 inrreaoe to ourviving apn:..ea receiving
benefits prior to January 1, 1998.
ADOPTED A.L'IID APPROVED this 17th day of May, 1999.
I, Lou.:riahia A. Ellie, City Clerk fo~1 City ofEn%lewood, lorado , hereby certify the
above is a true copy of Re8"lution No .2:f, Serie• of 1999. ~ d ~
/-Loucrishia A. EU.;o
COUNCIL COMMUNICATION
Dile Agenda Item Subfect Resolution to approve
an Increase In beneffla for
Police Officer retirees effective
May 17, 1999 10ci January 1, 1999 for lhosa
retired 1s of January 1, 1998.
Initiated By
Department of Financial Services
I Stall Source
Fr.ink Gryglewlcz , Director of Financial Services
COUNCIL GOAL AND PREVIOUS COUNCIL ACTION
City Council has met with representatives of the Police Pension Board In the past to discuss common
concerns Including benefits and funding .
RECOMMENDED ACTION
The Police Ortlcers Pension Board approved a $100.00 per mc,nth benefll lncreaSf, effectivl! January 1,
1999 to all part!cipants retired as of January 1, 1998, and a $50.00 increase to surviving epouses
receiving benefit, prior to Jviuary 1, 1998. The Board requests City Council ap.,rova a resolution
supportlny their d,,clslon .
FINANCIAL IMPACT
This action will not directly Im pact Iha financial condition of the City cf Englewood as tt,e Police
Pansion Fund Is being funded on an ac1Uarial basis .
UST OF ATTACHMENTS
Proposed Resolution
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