Title
Approval of an Ordinance to amend the City of Roswell Georgia Municipal Employee Benefit Services (GMEBS) Retirement Plan. (Second Reading)
Presented by Dan Roach, Human Resources Director
Body
Item Summary:
This amendment to the Defined Benefit (DB) Pension plan is to reflect the practice of including severance pay as part of earnings for the purposes of pension calculations. Additionally, there are administrative amendments to reflect changes made by the GMEBS Board of Trustees since the last restatement of the DB Master Plan document.
Committee or Staff Recommendation:
On October 22, 2012 Mayor and City Council approved the first reading of this Ordinance.
Financial Impact:
N/A
Presented by:
Dan Roach, Human Resources Director