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Home My WebLink About09543RESOLUTION NO. 9543 A RESOLUTION APPROVING AN AGREEMENT BETWEEN JOHN F. ZUPANCIC 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 John F. Zupancic ( "Employee ") and the City of Pueblo, a Municipal Corporation dated March 25, 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 Seal of the City thereto and attest same. INTRODUCED: March 25, 2002 BY: Patrick Rvalos COUNCIL PE ON APPROVED: PRESIDENT OF CITY COUNCIL ATTESTED BY: CITY RK ML Background Paper for Proposed RESOLUTION /&,, - iv- - 95z6 AGENDA ITEM # S DATE: March 25, 2002 DEPARTMENT: FIRE PENSION FUND BOARD OF TRUSTEES ED BROWN, CHAIRMAN TITLE A RESOLUTION APPROVING AN AGREEMENT BETWEEN JOHN F. ZUPANCIC 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 John F. Zupancic 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. Zupancic and found that Mr. Zupancic 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.