HomeMy WebLinkAbout09509RESOLUTION NO. 9 509
A RESOLUTION APPROVING AN AGREEMENT BETWEEN JOSEPH N.
FITZGERALD AND THE CITY OF PUEBLO, A MUNICIPAL CORPORATION,
CONCERNING PARTICIPATION IN THE OLD -HIRE DEFERRED RETIREMENT
OPTION PLAN
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1,
The Agreement between Joseph N. Fitzgerald ( "Employee ") and the City
of Pueblo, a Municipal Corporation dated February 11, 2002 (the "Agreement ")
concerning the Employee's participation in an old -hire deferred retirement option
plan and resignation from employment, a true copy of which is attached hereto,
having been approved as to form by the City Attorney, is hereby approved,
subject to appropriation required therefore, if any, in fiscal years beyond the date
of adoption of this Resolution.
SECTION 2.
The President of the City Council is hereby authorized to execute the
Agreement on behalf of Pueblo, a Municipal Corporation, and the City Clerk shall
affix the Self of -the City thereto and attest same.
INTRODUCED: February 11, 2
BY: Al Gurule
COUNCIL PEFOON
APPROVED:
PRESIDENT OF CITY COUNCIL
ATTESTED
LERK
r
Background Paper for Proposed
RESOLUTION
AGENDA ITEM #
DATE: FEBRUARY 11, 2002
DEPARTMENT: FIRE PENSION FUND BOARD OF TRUSTEES
ED BROWN, CHAIRMAN
TITLE
A RESOLUTION APPROVING AN AGREEMENT BETWEEN JOSEPH N.
FITZGERALD AND THE CITY OF PUEBLO, A MUNICIPAL CORPORATION
CONCERNING PARTICIPATION IN THE OLD -HIRE DEFERRED RETIREMENT
OPTION PLAN
ISSUE
Should the City Council enter into an Agreement with Joseph N. Fitzgerald
concerning participation in the Old Hire Deferred Retirement Option Plan (DROP)
per City Ordinance Numbers 6586 and 6740?
RECOMMENDATION
The Fire Pension Board of Trustees met on January 17, 2002 and reviewed the
eligibility of Mr. Fitzgerald and found that Mr. Fitzgerald is eligible to participate in
the DROP Program.
BACKGROUND
Each eligible member is requesting an agreement between himself and the City
of Pueblo in accordance with the DROP Program, which became effective in
December, 2001.
FINANCIAL IMPACT
According to the Plan's Actuary, selected by the State Fire and Police Pension
Association, the actuarial soundness of the pension plan should be maintained.