Title
Approval of the Ordinance to Adopt an Agreement with the Georgia Municipal Employees Benefit System (GMEBS) and Approval of the Addendum to the GMEBS. (Second Reading)
Presented by Kay Love, City Administrator
Body
Item Summary:
This amendment to the GMEBS Retirement Plan prohibits participation of employees hired on or after March 1, 2011 and elected officials and Municipal Court Judges who first take such office on or after March 1, 2011. Other retirement plan changes will be adopted in the near future affecting employees hired and elected officials and Municipal Court Judges who first take such office on or after March 1, 2011.
Committee or Staff Recommendation:
On February 22, 2011 Mayor and Council approved the first reading of the Ordinance.
Financial Impact:
Financial Impact will be determined after other plan changes have been implemented.
Presented by:
Kay Love, City Administrator