HomeMy WebLinkAbout10102RESOLUTION NO. 10102
A RESOLUTION APPROVING AN AGREEMENT BETWEEN JOHN NEMICK 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 Nemick ( "Employee ") and the City of Pueblo, a Municipal
Corporation dated April 26, 2004 (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 April 26, 2004
Aw
Michael Occhiato
ATTESTED B'
q C C LE R K �
Councilperson
PRES E I
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Background Paper for Proposed
RESOLUTION
AGENDA ITEM #
DATE: APRIL 26, 2004
DEPARTMENT: FIRE PENSION FUND BOARD OF TRUSTEES
ED BROWN, CHAIRMAN
TITLE
A RESOLUTION APPROVING AN AGREEMENT BETWEEN JOHN NEMICK
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 Nemick 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 August 6, 2003 and reviewed the
eligibility of Mr. Nemick and found that Mr. Nemick 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. The effective date of the agreement is May 1, 2004.
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.