HomeMy WebLinkAboutElecting to join the Public Employees' Retirement Fund RESOLUTION
i\TO. 242-70
Passed by the Common Council of the City of South Bend, Indiana,
June 22, 1970
Attest: City Clerk
Attest: President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
19
r
(� City Clerk
Approved and signed by me 19
Mayor
Employees ' Retirement Fund
RESOLUTION NO. 242-70
A RESOLUTION ELECTING TO JOIN THE
PUBLIC EMPLOYEES ' RETIREMENT FUND
WHEREAS, the South Bend Common Council is the govern-
ing body of the City of South Bend in St . Joseph County , in the
State of Indiana, and
WHEREAS, the actuary for the Public Employees ' Retire-
ment Fund has furnished such governing body with certain cost
estimates to become a participant in such Fund as established
by the Acts of 1945 , Chapter 340 and all Acts amendatory and
supplemental thereto, and
WHEREAS, such governing body is fully cognizant that
the percentage of cost of gross annual payroll of covered em-
ployees has been set at 10 .92% by the actuary of the Fund, and
that at five year intervals , or more often if directed by the
Board of Trustees of the Public Employees ' Retirement Fund, the
actuary will review the status of the employees covered and
shall adjust the cost percentage accordingly so that the Fund
will remain on an actuarially sound basis , and
WHEREAS, such governing body acknowledges its liability
and that , pursuant to law it and its successors in office , must
appropriate sufficient funds each year to retire the employees '
prior service liability in an orderly manner and also fund the
current costs accruing annually .
NOW, THEREFORE, BE IT RESOLVED by the Common Council
of the City of South Bend in St . Joseph County in the State of
Indiana:
SECTION ONE : The City of South Bend elects to be-
come a participant in the Public Employees ' Retirement Fund as
established by the Acts of 1945, Chapter 340 and all Acts amend-
atory and supplemental thereto.
SECTION TWO : The South Bend Common Council agrees to
make the required contributions under the Public Employees '
Retirement Fund Act which is the Acts of 1945 , Chapter 340 , and
specifically the Acts of 1955 , Chapter 329 , commonly designated
as "The Indiana Public Employees ' Social Security Integration
and Supplemental Retirement Benefits Act . "
SECTION THREE : The following are declared to be
covered by the Fund:
All elected City officials , all appointed officers ,
employees , deputies and assistants and departmental and insti-
tutional heads , including officers and employees of the Water
Works and Waste Water Treatment Plant but not including police-
men, firemen or officers and employees of the South Bend Public
Transportation Corporation.
RESOLUTION ELECTING TO JOIN
+
. ,THE -PUBLIC EMPLOYEES ' r
RETIREMENT FUND.
PAGE 2
SECTION FOUR: It is hereby declared that none of
the classifications or positions specified in Section Three
are compensated on a fee basis or on an emergency nature , or
in a part-time category .
SECTION FIVE: The active participating membership of
the City of South Bend shall begin on January 1 , 1971 .
SECTION SIX: This resolution shall be in full force
and effect from date of passage and upon approval of the Board
of Trustees of the Public Employees ' Retirement Fund of Indiana,
except that active participation membership shall begin on the
date set forth in Section Five .
ember of the Common Council
1st & 2nd READING 6-22-70
COMMITTEE CF THE WHOLE
PUBLIC ITArRlilG 6-22-70
3rd READINNG
NOT APPROVED
REFERRED
PASSED 6-22-70
FILED IN CLERK'S OFFICE
JUN 171970
Kathryn L. Blough
City Clerk, South Bend, Ind.