HomeMy WebLinkAbout1984 Resolution No. 044Rf.:;QLtlTl O!I WJ .
S E RIE S OF 19 84
I\ HFSOLUTIQI; WJTIID!U,1·:1t:G n ;C>:\ Ti!!· r-IP r l,!!D l'OLJC,. P El-~I ON
,\SS OC I/\T J OII
1,\llt r .=AS , th e Ciry CJ!" Englc·,,·ooj h.:is . rc-Jjous1 y Jn1 ne C the
!=t :it c· li r e arid Police Pension ;\ssoc ia lion; and,
\V!-II:P.f.:\.S , th e City of Lng]ewc,od w ish s t o es t.:.i t.Jlish a mo:iey
purc hase plan to ~over all p0l i cc officPrs t,ire d &fl r April 6 ,
1978 ; and ,
W!!EP.!:AS , th e City o! !:ngle\•:ood i:1Lends lo v.·iLh dra·.-: fr0:71 t he
Fire Rn d Police J1c n si0~ As~oc1nt 1on i n compl ia nce wi th t h e pro-
·;isi.on of Sectior. 31 -30 -1003 (2) lb) c .r-.s ., as amended, an ::
applicabl0 FPPA rul e~ n r.d regulations; an U,
iJO\·:, Tl!E?.EfnRE , BE l T RLSO LVCD by the Ci ly Counci 1 of Lile
City of En g lewoo d , Colorado ,
SCCTIO!~ I
That Lhe c itv c.io0s herc!.iy notify :.he ~r ate F ire ar.d . olice
Pension ;.ssoci at 1~n of its i~:en~ to ~i l h2raw from the a~so=i -
a tion . The ~ithd r a~al shall be cf[cct1ve January 1 , 198C.
I
C O U N C I L
DATE
C O M M U N I C A T I O N
AGENlJA ITE M SUBJ EC T
11 f
K1thdrawa l of ntw police
hi re :-ft om f PP:\
I NIT IAT ED BY Ci ty Manager's Offi(e , l inh11ce llcp:i rt men t, Pol i c e Depa rt men t
4CT!O II PRO POSED Appro\'e and ad ,,pt a r eso l uti<'ll t o the Fire ,.c,. Police
0 11 Associa ti on in dicati n~ intention t o withd r a~ nr~ p o li ce hire~
the st ate pe nsion pl an .
Bac kg round
Thr ci ty admin i s t r a t i o n , in conju,,c ion wi t h t hl' roli cC' f\cp J rtrnent, is
i nteres t e d in explorin g t he p0ssihili t y o f wi t hdrawi11 r fr or t he prese&t
st a te de fin ed bene f it pension pla1. and estahl i shing a money purchase plun.
In fur t herance oft is objecti\'e , th e parties arc reoues t in ~ th a t Co un cil
adop t and appr ove n re~0lt1t ior1 t o hr ~ent t o tl1r Fi1·e and Po li(e Pensio n
A~sociaticn indicating the Ci t v's inte11t t 0 witl1dr3~ from 1t1e FPPA
e ffcrti\'e January 1, l~S6 . Thi s 4ithdrawal wo u ld only affect p oli ce
officers hi red a ft er Apri l 6, 1 9 7 S , a nd wou ld have no ef t cct at al l on
the pension pl an of officers hired prior t o April 7 , 197 6 , or on th e
prn sion p l an~ pr e sent I~· ~~isti 11~ fo1· t he Fi 1·c n epn rtment. The re~o lutio n
i s n o t binding on th e ( it~', an .I h~· a p, roving t he r c· .. ~o lut1 cn -;:he Ci t y 1 ~ I
not. therdn-, obliga t ed t o Ki t hd ra" from the pre se ntl v estahlishcd pen sio,,
1 pl an. Adoption o the r esolution and its submission to th e fPPA me r elf
sunt s th e "clock" runn i ng . Sta <' s t at ute ~ concernin g proceJure:: f0r
withdrawal r equire s eve r a l s t eps to be followed prio r t o actual •ith -
d r :IK Jl. Suhr.iission a f t he i·eso l11t ion j5 the first s tC'lL Once the
re so lution j~ filed, t hc·r c> 1s ~1 ]~-month \:Ji t inf! pcri oJ before h·ith-
dnn\·al can occ r, anj h'i th dr.:n,:a ] Clll cnly oc1..u 1 011 J a nunry 1 o f any ~i
yr-:.1r af c r the 1 2-mon th h'ai t.1n ~ period l,a~ el:ipst·d . Bcc1~is1.· of this l. 1T"1,
c on~tra i nt, it is n ci.:ess :1n· for 1 i1e rcso ]u ion t o he suhmi tt Pd prior ~r
th e c:-id of 19h.; so t ha t hitlhlr:1 ,,al, if appr r~ 1 i 'l t (. can occu1 on .i:inu:,rf
J !)fit1 . Hy \•1iti11 g tc, :--u h11it the· rc"'-011 .ticn ii: j:·1u.:1ry 01 J~I~~, \•:i thJ1 .
could n 0 occur unt il J~in11a r y 1 , J ~1~-.
011cc· t he r esolution is s u b-·i t rJ t n the Fire :1nd Police Pen ~inn,\~~;Jcj; ·
t ion , the pa rt 1rs wou ld lHl\"L u n t il .l11ly J . 1 9RS , to submi t a prn ~'.ion 11 ,:.n
ft.1r appro v n l t o th r fPP.\. That h Oul<l gi,·r t he p;irtics ~ix month::-clur11 ,r
,d1ili1 ti me conprc iH'n<-1\·C' re~e:1r'-l1 t.:o uld h r conductrd i nt o t he po:,;s1h:i,
::drantagrs and di~a d,·an t:1 ~c·<-(If h itl1dr:iwi11r !'ro11 thr pr esent pl.'.1L and
p.irtii.:ip:::ti o n i11 a f!1l"'TlL'Y purch.isc-i i:1 ·1. lh" ult i ma t c clcci:--io ·1 \\·c,uld t he,•
11. t hith t he Cou cil . If :Ju. r rtic s 11]1i111a t cJy dc c i cl( th :1 ! tli :-pnq••,t
J!L1L:--1on pl:in ~110111\! rc·n.1i 11 111 f, 11.·(. thc11 11 0 1 11r t hc 1 ,1tt ion t,c('d Ill i.i~t.'11
.:rnd thr p rL'S lnt pl:111 ,,c,u l ,I rC'm:1111 ,11 cf f'lrt .
A l i t t I<' l ,arfcg r N 111 d m:i:· b, '" J r,.11 1 a , tin s p o tP 1. Ap p r o ,i m.:tP l )' n •o y e ar. ·> 1'
c:g(l , tl u:r<· ~H -'~ som e d1 ~n1 ... ..,1on l,c·t h·c t.:11 th e ( 1t }' ,111cl the• P ]Jc:c nn cl J i r r
r mJi!0\'1.(;: ,1~ t o t he 1•0~~·1 1 jJitv nf c1e:1t1 11 ~ a mnnty pur c h ;:i~c pl n n . Al I
t h:lt t im<', :11 1 pol i c e nf 1 1rcr.~ a 11d f j n !q~l itc.:t s WC'Tl c l i g jb]c t o wi t l,· !\
d1.1h·. I t \o';l '.· r 1c ·.:ir . l ,o\\cv, r . nf:r 1 :i r:eC'Tlll !-, \\'!th A . S. ll a n~t n , t h e
C~t ,·: :1.Lu a ,·i :,: c nn s u l t:ll!t! 1 11.:t t ht·1t \.':-!.., ,,i n e x t rc-mtl )' h 1 th u n f undt.'J _ 1
1 1~1 1\.t ,1 .i,._ rr i .. t ,.:J t<' 1'rl 11..' :1L.1 l 1rt· l'1:1lorc•tH· lin rd p 11 c r t cJ !q ,111 ,,
1~1 7R , mil k i1 ,~ ~-~rh..l r :,\·.:11 fr•1 t :1l'1, l ',.J1c1.. ;1tHi IJ J'l' em1,l oyc e ~ r co n o micnll)'
i mprac t J.C al. l l 'H n · arl· lho ~rp.1 r :1 t c 11f'n•-1 0 11 J1 l :1 ns ,d tii r omp lrte l)'
s cp~!J t c f1 na n cia l a ccou11t ~ 1n r~~s t ~11~~ for Po]jcr nn d Fire e mp l o )·e e s .
Ont.· plil n c o,,1.·r s em ~1ln:,1.•ct. Iii rc-J prior to ,\pr ;] -: 1 1 9 78 , (o l d Jijre s) o n d
a crt 111.r f o r c r.1p)oy c c-s h irc.•J :--i n c1.' ,\1 ,r i 1 .. , 1 9 -8 , (ne w h i rc s J .)
At t he s mut' t1 c·, t he f PP.\ \,ar i ndjca t i n r, tirn t t hP y ,-:e r e l 0o k i n g at r L-I
Y i1Jt1 p 1 n 1. tu· :-t a r t p '?nsion pl:1r. so th :i t 1 t mi~hi hr tt f'r c1 t cr t o t h e n e C'd~j
o f thoS\.' i t wa s dc ~j gn cd t o cove r . Fo 1 tl~i~-r t'n :,;o n, t h e O C'\: h i r es d e -1
c idr d t o \-.':dt n 11cl s ee h·h:-i t 1 c,·1. in n ~ jn th e n 1a n 1,·o ul d b r m.:i,:k . To t!~1t r ,
l 1tt ll r cya mp i n ~ h a~ h c:f'n :jcco:np l 1 -,h C'J and , ·f o r th ::i.t r c ,1s.:>n , th e n c h'
p o l;t:{' hir e s a r c i nt c1 r-c:tt tl j n co 1:s j d {'r 1ng a m011cy pu r c h ~sc p l an .
fh· s t.nc s t n t11 r c , 0 ]1..l hi r e:-c.111rw t n m•, ,d :h <lr n,· f ror. th e p e n s i o n 1Jl a n
\,:hie!, C<P.rc r °' t hc~m , o nl,· 11('\\ h ir e-:-m:,Y . Th e· r C'~l l!C'~t e d r e solu t ion On l y
d e a l s wi th p o li c e of :;°cc r , h ir e,! a l t c 1 Aprj J b , 19i8 .
11 1 Augu~t o f t hi ~ y e3r , :in ir:t,.:-rt.:--t stir•:1.'Y s h C'e t w:1 s d i s tr ibu t ed nmc nt.:
t ht 3{, po l !ce offi cer ~ ~lit''' J.ir1...·) ,,:hri h:i ·:t' l.t·c n h i re d si11 c.t· r\pril 6 ,~
19i,,. in orJc r to de tt'rrr.iuc 1'.1.. !;· i nt C'n ... ~t ill l oo k i n g int o th e pos si bi J -
jt y of C'S t ;i hl i ~h in ~ n mo ll £')' i -~11~!1:1sc pl .1:1 . 0rc·T 1 2'~ of t h .:>s e c nr,l cye e s
indir,Jtc·<l t h1..·:i r i 11t e r e:;L.
Rc.-ro 1:.c :1t.1J t 1o n
Th.1 t t h\· Cit y Cou n c il ~1r !C\'C th~· :itt:iched r,•~r l ut1 o n n o ti f y ing t he
Fire a1d !1 o lit.:c· PC'n$ion s~oci:-?:ion o r t he L i t ~· o f Lnglc ,,·ood 's. i ntc:n t
t o h"i t i:dr:n, it: pol)1...1.. fir(r~ :ii-red :1frt·r ,\pri l 6 , 1~1 -s , fro th e
Fi•I'.\ l'c·n~jOll P r0p.n!1i1.
k,;em m
I :~v ~.i ev ________________ _
ACT! ON;
S[C1 ND
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