AN ORDINANCE
NO ___________
An Ordinance providing for the supplemental contributions to the Columbus,
Georgia Pension Plan for employees of the Department of Public Safety for the
fiscal year beginning July 1, 2011 and amending the Public Safety Pension Plan
by confirming the percentage of the member?s average monthly earnings of two
percent in determining the amount of normal retirement pension; and for other
purposes.
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WHEREAS, Ordinances heretofore adopted by the Council of Columbus, Georgia
provided for governmental contributions to the Public Safety Employees Pension
Plan for the benefit of eligible employees employees; and
WHEREAS, the Actuarial Consultants have evaluated the Public Safety Employees?
Pension Plan and thus determined that the funding required for fiscal year 2012
is $12,941,840.
NOW THEREFORE THE COUNCIL OF COLUMBUS, GEORGIA HEREBY ORDAINS:
The authorization of the new funding of the Columbus, Georgia Pension Plan for
Employees of the Department of Public Safety by the appropriation of
$12,941,840 for fiscal year 2012 and extend the amortization of the unfunded
liability from 8-years to 15-years.
Columbus Code Section 16A-43, Subsection 43.01 of the Columbus,
Georgia Pension Plan for Employees of the Department of Public Safety is
hereby amended by deleting the following language:
?Provided, however, for any eligible employee hired after June 30,
2003, the accrued monthly pension shall be determined as follows: One and
one-half percent of the member?s average monthly earnings multiplied by the
member by the member?s number of years creditable service as of any given date,
subject to a maximum of 30 years of creditable service.?
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Introduced at a regular meeting of the Council of Columbus, Georgia, held the
14th day of June, 2011; introduced a second time at a special meeting of said
Council held on the _____ day of June, 2011, and adopted at said meeting by the
affirmative vote of _____ members of said Council.
Councilor Allen Voting __________
Councilor Baker Voting __________
Councilor Barnes Voting __________
Councilor Davis Voting __________
Councilor Henderson Voting __________
Councilor Huff Voting __________
Councilor McDaniel Voting __________
Councilor Thomas Voting __________
Councilor Pugh Voting __________
Councilor Woodson Voting __________
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Tiny B. Washington, Clerk
Teresa Pike Tomlinson, Mayor
Attachments
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