ORDINANCE NO. 3014
ORDINANCE ADOPTING AMENDED RETIREMENT PLANS FOR SPECIFIED CITY OF GRAND JUNCTION EMPLOYEES
Recitals:
Article XI, Section 88, of The Charter requires that the City Council act by ordinance to continue, alter, establish, provide for and amend pension plans. Given changes in state and federal law particular plan provisions of the retirement plans referred to in this Ordinance require amendment.
NOW THEREFORE BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF GRAND JUNCTION THAT:
1. The plan provisions as amended and attached hereto, which are incorporated by this reference as if fully set forth, for the below listed retirement plans are hereby adopted in accordance with Article XI, Section 88 of the Charter of the City of Grand Junction.
a. ICMA Retirement Corporation Prototype Money Purchase Plan and Trust known as the City of Grand Junction Executive Plan; and,
b. ICMA Retirement Corporation Prototype Money Purchase Plan and Trust known as the City of Grand Junction “Old Hire” Firefighters Rank Escalation Pension Plan; and,
c. ICMA Retirement Corporation Prototype Money Purchase Plan and Trust known as the City of Grand Junction “Old Hire” Police Officers Rank Escalation Pension Plan; and,
d. City of Grand Junction New Hire Fire Money Purchase Defined Contribution Plan; and,
e. City of Grand Junction New Hire Police Money Purchase Defined Contribution Plan; and,
f. City of Grand Junction, Colorado Employees Retirement Plan; and,
g. ICMA Retirement Corporation Deferred Compensation Plan and Trust.
2. All lawful acts heretofore taken by the City and its officers, agents and employees, and the employees benefiting from the plans, in funding, managing and administering the plans, in whatever capacity, are hereby ratified.
3. All ordinances or parts of ordinances inconsistent with the provisions of this ordinance are hereby repealed.
INTRODUCED this 21st day of May, 1997.
APPROVED this 4th day of June, 1997.
/s/ Janet L. Terry
Mayor
ATTEST:
/s/ Christine English
Acting City Clerk