AN ORDINANCE
NO ___________
An Ordinance providing for Government funding of a Major Disability Income Plan
for the fiscal year beginning July 1, 2015.
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WHEREAS, Ordinances heretofore adopted by the Council of Columbus, Georgia
established a Major Disability Income Plan for employees;
WHEREAS, Actuarial Consultants have evaluated the Major Disability Income Plan
and the investment return assumption of 7% annum thus determined that the
amount of $330,108 is required to fund the Plan for the fiscal year ending June
30, 2016. The amount to be prorated among the Consolidated Government of
Columbus, Georgia (including Keep Columbus Beautiful Commission), the Columbus
Board of Water Commissioners, the Hospital Authority of Columbus, and the
Columbus Airport Commission based on actual earnings of the active participants
in the Plan for the previous fiscal year is as follows: Consolidated Government
79.62% or $262,832 (includes Keep Columbus Beautiful Commission, 0.04% or
$132); Columbus Board of Water Commissioners, 9.86% or $32,549; Hospital
Authority of Columbus, 9.70% or $32,020, and the Columbus Airport Commission,
0.82 % or $2,707.
NOW THEREFORE THE COUNCIL OF COLUMBUS, GEORGIA HEREBY ORDAINS:
That the following named agencies shall make the following contributions for
fiscal year 2016 to the Finance Director of the Consolidated Government as
their prorated share of the cost of the Major Disability Income Plan by July
15th:
Consolidated Government $ 262,832
Columbus Board of Water Commissioners $ 32,549
Hospital Authority of Columbus $ 32,020
Columbus Airport Commission $ 2,707
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Introduced at a regular meeting of the Council of Columbus, Georgia, held the
9th day June, 2015; introduced a second time at a regular meeting of said
Council held on the _____ day of _________, 2015, and adopted at said meeting
by the affirmative vote of _____ members of said Council.
Councilor Allen Voting __________
Councilor Baker Voting __________
Councilor Barnes Voting __________
Councilor Buck Voting __________
Councilor Davis Voting __________
Councilor Henderson Voting __________
Councilor Huff Voting __________
Councilor Pugh Voting __________
Councilor Thomas Voting __________
Councilor Woodson Voting __________
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TINY B. WASHINGTON,
CLERK TERESA PIKE
TOMLINSON, MAYOR
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