AN ORDINANCE
NO ___________
An Ordinance providing for Government funding of a Death Benefit Escrow for the
fiscal year beginning July 1, 2015.
--------------------------------
WHEREAS, Ordinances heretofore adopted by the Council of Columbus, Georgia
provided a Death Benefit Escrow Fund for employees;
WHEREAS, Actuarial Consultants have evaluated the Death Benefit Escrow Plan and
the investment return of 7% annum thus determined that the amount of $313,235
is required to fund the Plan for fiscal year ending June 30, 2016. The amount
to be prorated among the Consolidated Government of Columbus, Georgia (includes
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 active participants in the Plan for the previous fiscal
year is as follows: Consolidated Government, 79.62% or $249,398 (includes Keep
Columbus Beautiful Commission, 0.04% or $125); Columbus Board of Water
Commissioners, 9.86% or $30,885; Hospital Authority of Columbus, 9.70% or
$30,384, and the Columbus Airport Commission, 0.82% or $2,568.
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 Death Benefit Escrow Fund by July 15th:
Consolidated Government $ 249,398
Columbus Board of Water Commissioners $ 30,885
Hospital Authority of Columbus $ 30,384
Columbus Airport Commission $ 2,568
---------------------------------
Introduced at a regular meeting of the Council of Columbus, Georgia, held the
9th day of 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 __________
___________________________________
____________________________________________
TINY B. WASHINGTON, CLERK TERESA
PIKE TOMLINSON, MAYOR
Attachments
No attachments for this document.