Columbus, Georgia

Georgia's First Consolidated Government

Post Office Box 1340
Columbus, Georgia, 31902-1340
(706) 653-4013
fax (706) 653-4016

Council Members

AN ORDINANCE



NO ___________



An Ordinance providing for contributions to the Columbus, Georgia General

Government Employees? Pension Plan for the fiscal year beginning July 1, 2007:





--------------------------------------------------------------------------------

-------



WHEREAS, Ordinances heretofore adopted by the Council of Columbus, Georgia

provided for Governmental Contributions to the Employees? Retirement Plan; and



WHEREAS, Actuarial Consultants have evaluated the Plan and the investment

return assumption is 7.00% per annum and thus determined that the amount of $

7,698,000 is required to fund the Plan in the fiscal year beginning July 1,

2007. The amount to be prorated among the Consolidated Government of Columbus,

Georgia, 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, 72 % - $ 5,542,560.00; Columbus Board of Water

Commissioners, 16 % - $ 1,231,680.00; Hospital Authority of Columbus, 10 % - $

769,800.00 and Columbus Airport Commission, 2 % - $153,960.00



NOW THEREFORE THE COUNCIL OF COLUMBUS, GEORGIA HEREBY ORDAINS:



That the following named agencies shall make the following monthly

contributions for fiscal year 2008 to the Finance Director of the Consolidated

Government as their prorated share of the contributions, payable the first of

each month:



Consolidated Government $ 461,880.00

Columbus Board of Water Commissioners $ 102,640.00

Hospital Authority of Columbus $ 64,150.00

Columbus Airport Commission $ 12,830.00





--------------------------------------------------------------------------------

------



Introduced at a regular meeting of the Council of Columbus, Georgia, held the

____ day of June, 2007; introduced a second time at a regular meeting of said

Council held on the ____ day of June, 2007, an adopted at said meeting by the

affirmative vote of _____ members of said Council.



Councilor Allen Voting __________

Councilor Anthony Voting __________

Councilor Baker Voting __________

Councilor Barnes Voting __________

Councilor Davis Voting __________

Councilor Henderson Voting __________

Councilor Hunter Voting __

Councilor McDaniel Voting __________

Councilor Turner Pugh Voting __________

Councilor Woodson Voting __________





_____________________________________________

____________________________________

Tiny B. Washington, Clerk Jim Wetherington, Mayor







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, 2007; and for other purposes.



--------------------------------------------------------------------------------

-------



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 the investment return assumption is 7.00% per annum and thus

determined that the funding required for fiscal year 2008 is $ 9,912,000.00.



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 $

9,912,000.00 for fiscal year 2008.





--------------------------------------------------------------------------------

------



Introduced at a regular meeting of the Council of Columbus, Georgia, held the

____ day of June, 2007; introduced a second time at a regular meeting of said

Council held on the ____ day of June, 2007, an adopted at said meeting by the

affirmative vote of _____ members of said Council.



Councilor Allen Voting __________

Councilor Anthony Voting __________

Councilor Baker Voting __________

Councilor Barnes Voting __________

Councilor Davis Voting __________

Councilor Henderson Voting __________

Councilor Hunter Voting __

Councilor McDaniel Voting __________

Councilor Turner Pugh Voting __________

Councilor Woodson Voting __________





_____________________________________________

____________________________________

Tiny B. Washington, Clerk Jim Wetherington, Mayor





AN ORDINANCE



NO ___________



An Ordinance providing for Government funding of a Major Disability Income Plan

for the fiscal year beginning July 1, 2007; and for other purposes.





--------------------------------------------------------------------------------

-------



WHEREAS, Ordinances heretofore adopted by the Council of Columbus, Georgia

established a Major Disability Income Plan for employees; and



WHEREAS, Actuarial Consultants have evaluated the Major Disability Income Plan

and the investment return assumption is 7.00% per annum and thus determined

that the amount of $ 105,000.00 is required to fund the Plan in the fiscal year

beginning July 1, 2007. The amount to be prorated among the Consolidated

Government of Columbus, Georgia, 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, 85 %-$ 89,250.00; Columbus Board

of Water Commissioners, 9 % - $ 9,450.00; Hospital Authority of Columbus, 5 % -

$ 5,250.00 and Columbus Airport Commission, 1 % - $1050.00.



NOW THEREFORE THE COUNCIL OF COLUMBUS, GEORGIA HEREBY ORDAINS:



That the following named agencies shall make the following contributions for

fiscal year 2008 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 $ 89,250.00

Columbus Board of Water Commissioners $ 9,450.00

Hospital Authority of Columbus $ 5,250.00

Columbus Airport Commission $ 1,050.00





--------------------------------------------------------------------------------

------



Introduced at a regular meeting of the Council of Columbus, Georgia, held the

____ day of June, 2007; introduced a second time at a regular meeting of said

Council held on the ____ day of June, 2007, an adopted at said meeting by the

affirmative vote of _____ members of said Council.



Councilor Allen Voting __________

Councilor Anthony Voting __________

Councilor Baker Voting __________

Councilor Barnes Voting __________

Councilor Davis Voting __________

Councilor Henderson Voting __________

Councilor Hunter Voting __

Councilor McDaniel Voting __________

Councilor Turner Pugh Voting __________

Councilor Woodson Voting __________





_____________________________________________

____________________________________

Tiny B. Washington,

Clerk Jim

Wetherington, Mayor





AN ORDINANCE



NO ___________



An Ordinance providing for Government funding of a Death Benefit Escrow for the

fiscal year beginning July 1, 2007; and for other purposes.





--------------------------------------------------------------------------------

-------



WHEREAS, Ordinances heretofore adopted by the Council of Columbus, Georgia

provided a Death Benefit Escrow Fund for employees; and



WHEREAS, Actuarial Consultants have evaluated the Death Benefit Escrow Plan and

the investment return assumption is 7.00% annum and thus determined that the

amount of $ 171,000.00 is required to fund the Plan in fiscal year beginning

July 1, 2007. The amount to be prorated among the Consolidated Government of

Columbus, Georgia, 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, 85 % - $145,350.00; Columbus Board of

Water Commissioners, 9 % - $ 15,390.00; Hospital Authority of Columbus, 5 % - $

8,500.00 and Columbus Airport Commission, 1 % - $ 1,710.00.



NOW THEREFORE THE COUNCIL OF COLUMBUS, GEORGIA HEREBY ORDAINS:



That the following named agencies shall make the following contributions for

fiscal year 2008 to the Finance Director of the Consolidated Government as

their prorated share of the cost of the Death Benefit Escrow Fund by July 15th:



Consolidated Government $ 145,350.00

Columbus Board of Water Commissioners $ 15,390.00

Hospital Authority of Columbus $ 8,500.00

Columbus Airport Commission $ 1,710.00





--------------------------------------------------------------------------------

------



Introduced at a regular meeting of the Council of Columbus, Georgia, held the

___ day of June, 2007; introduced a second time at a regular meeting of said

Council held on the ____ day of June, 2007, an adopted at said meeting by the

affirmative vote of _____ members of said Council.



Councilor Allen Voting __________

Councilor Anthony Voting __________

Councilor Baker Voting __________

Councilor Barnes Voting __________

Councilor Davis Voting __________

Councilor Henderson Voting __________

Councilor Hunter Voting __

Councilor McDaniel Voting __________

Councilor Turner Pugh Voting __________

Councilor Woodson Voting __________





_____________________________________________

____________________________________

Tiny B. Washington, Clerk Jim Wetherington, Mayor





Agenda Item #



Columbus Consolidated Government

Council Meeting



June 12, 2007



Agenda Report #



TO: Mayor and Council



SUBJECT: Pension Plan Funding Ordinances



INITIATED: Human Resources Department







Recommendation: Approve pension ordinances which provides governmental

contributions to the Columbus, Georgia Employees? Pension Plans for the fiscal

year beginning July 1, 2007.



Background: Annual contributions are required to fund the following Pension

Plans based on the 2006 Actuarial Valuation prepared by Buck Consultants:



Columbus, Georgia Employees Pension Plan for General Government Employees



Columbus, Georgia Employees Pension Plan for Employees of the Department of

Public Safety



Columbus, Georgia Employees Major Disability Income Plan



Columbus, Georgia Employees Death Benefit Escrow Plan



Analysis: There is a budgetary and financial impact.



Legal: the City Attorney has reviewed a copy of the ?Pension Plan Ordinances?

and there are no issues other than compliance of the law.



Financial Considerations: Funding of the minimum required contributions

beginning July 1, 2007 through June 30, 2008.



Recommendation/Actions: Human Resources recommend the approval of the above

ordinances.



Attachments


No attachments for this document.

Back to List