AN ORDINANCE
NO ___________
An Ordinance providing for Government funding of a Major Disability Income Plan
for the fiscal year beginning July 1, 2008:
--------------------------------------------------------------------------------
-------
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 $ 87,613 is required to fund the Plan in the fiscal year
beginning July 1, 2008. 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 % or 74,471; Columbus Board of
Water Commissioners, 9 % or $ 7,885; Hospital Authority of Columbus, 5 % or $
4,381 and Columbus Airport Commission, 1 % or $876.
NOW THEREFORE THE COUNCIL OF COLUMBUS, GEORGIA HEREBY
ORDAINS:
That the following named agencies shall make the following contributions for
fiscal year 2009 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 $ 74,471
Columbus Board of Water Commissioners $ 7,885
Hospital Authority of Columbus $ 4,381
Columbus Airport Commission $ 876
--------------------------------------------------------------------------------
------
Introduced at a regular meeting of the Council of Columbus, Georgia, held the
10th day June, 2008; introduced a second time at a regular meeting of said
Council held on the ____ day of June, 2008, and 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 Pugh Voting __________
Councilor Woodson Voting __________
_____________________________________________
____________________________________
TINY B. WASHINGTON, CLERK
JIM WETHERINGTON, MAYOR
Attachments
No attachments for this document.