HomeMy WebLinkAbout1998 Resolution No. 091•
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RESOLUTION NO . qJ_
SERIES OF 1998
A RESOLUTION AUTHORIZI NG THE ENGLEWOOD OLD-HIRE FIREFIGHTERS'
PENSION PLAN AFFILIATION WITH THE FIRE AND POLICE PENSIO N
ASSOCIATION (FPPA).
WHEREAS, Part ~ of .-\rt1cle I. Title 31. Colorndo Revised Statutes (C.R.S.). as amerided.
estabLishes a statewide benefit plan for all full-time paid firefighters and police officers in
the state hired on or after Apru 8, 1078; and
WHERE,\S, Section 31-30.5-211 , C.R.S .. as amended, provides that an employer =iy
elect to affiliate with the Fire and Police Pension Association as to its old lutt (fire and!or
police) pension pla n by tiling a resoluuon with the Associati on : and
WHEREAS . the fact that an emp loyer el ects affiliation does not mean that membes of
the Engle wood Old-Hire Firefighters' Pension Piao hired before \pnl 8, 1978 are
automatically covered by the statewid e benefit plan as to renrement benefits hut have an
option to elect to rematn cove red by the old lure plan or to join the statewide plan: ana
WHEREAS, on August 27, 1998 members of the Old -Hire FireL ,hters' Pens10 0 Boa.--:i
voted to affiliate with the Fire and Police Pension Assocmuon (F . .?.P.A./ .
WHEREAS, the Englewood Firefighters' Pension Board and the Engle wood City CoL"'1cil
ha\·e determined it to be in the best iMere st of the City of Englewood Old-Hire Firefi.gi::.ers '
Pensio n Plan to affilute with the Fire and Police Pension Association (F .P .PA);
NOW . THERE ' ORE. BE IT RESOLVED BY THE CITY COUNCI L OF THE CITY O F
E:-IGLEWO OD . r OLORADO . THAT:
S!:J:tum..l . The Eng!ewoc d City Cou nctl hereby authonzes the Englewood Old-Hire
Firefighters' Pension Plan to 3ffiliate with the Fire a nd Police Pension Assoctanon (F .P .P .. .\.)
on January 1. 1999 .
~-In accordance with Section 31 -31-701 (4), the Englewood City Councl dee;
hereby reques t fro m the Board of Dire ctors of the Fi.re and Police Pens1on As socaaon
(F .P.P.A ) an estimate c,f the City of Englewood. Colorado contr1but1o n ra te necessary :.:i
co mply with the contnbutton requ1r ements estab lished by . .\rucle 30 .5 a nd 3 1. Titl e 3 :
C.R .S .. as amended .
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~ 'V'hia l"l!IOlution s hall become effective September 8, 1998 and the Englewood
City Clerk 11 cm-ecud ID file a certified copy of this resolution with the Fire and Police
Pen•1cn A.uocat1on (F'J'.P.A.) u soon after Septemb,ir 8, 1998 ae is practicable, to gether
with a li5t o{ ,:!,,, a.uets currently held by the Englewood Old-Hire Firefighters' Pension Plan.
ADOPTED A."<1) APPROVED this 8th day of September. 1998.
~I.fit
Loucrislua A. Eh.. City Clerk
L Louc:ui,,;a A. Ellis. City Clerk fo~_,tb • City of Englew ood.
above 18 a.,,,., oopy of Re so lution :-lo,J+... Series of 1998 .
t!tit·
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COUNCIL COMMUNICATION
Date Age11da Item Subject A resolution to
approve Old-H ire Firefighter
P ension Plan affiliation with ttte
Fire and Police Pension
September a. 1998 10 CI Association (FPPA)
Initiated By
Department of Financial Services
I Staff Source
F rank Gryglew,cz . Director
C'JUNCfL GOAL AND PREVIOUS COUNCIL ACTION
The City Council has met with members of the Old -Hire Fire11ghte, Peris,on Plan at study sessions In
th,, past to discuss issues of comrion concern .
RECOMMENDED ACTION
Slaff recommends that City Counc il approve the attached reso lution.
BACKGROUND , ANALYSIS , AND ALTERNATIVES IDENTIFlED
The FPPA was created ~y State Statute to administer the slate•Mce t!e>iefrt plan fo r full-time paid
firef ighters and police ottice rs hired on or after April 8 . 1978. Sta .e S'2!Utes (31-30.5.211 ) allow an
em ployer to elect to affiiiat~ with the FPPA by filing the approp ri ate resulution.
This resolu tio n will atti:iate the ccrrent Firefighter Plan ,,_;:h the F?FA. ::PPA will invesr fu r.ds , pay
ret ire es, and conduc: actua rial stud ies fo r the old-hire firefighltr plan . Upon afflicati on wi th FPPA, each
individual ac:ive iirefigh:er will ha•.'a an option to eiecr 10 remain covere-: by the current Ci'y Pian or to
be cove red ~y the stat~w ,de be11afit plan.
On Augu~t 27 , 1998 members ,f the Old-Hire Firel ighters P~ns1on ecard voted to affiliate with the
FPPA .
FINANCIAL IMP.'\CT
This ac tio n shoul d not have an impact on the City's fi nancial condincr.. The tot al cost of providing
technical, investment, and actua rial services to the Plan should. if atl'j::"11ng, be reduced by the
affiliation.
LIST CF ATTACHMENTS
Pr oposed resolution