HomeMy WebLinkAboutResolutions - 1979.03.01 - 123918850 Miscellaneous Resolution March 1, 1979
BY: PERSONNEL COMMITTEE - John J. McDonald, Chairman
IN RE: AMENDMENT TO RETIREMENT SYSTEM - COST-OF-LIVING
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Mr. Chairman, Ladies and Gentlemen:
WHEREAS by Miscellaneous Resolution 7388 adopted December 18,
1975, the Oakland County Board of Commissioners provided the retirees
from the Oakland County Employees' Retirement System with their last
cost of living adjustment benefit effective January 1, 1976; and
WHEREAS the cost of living increases since January 1, 1976,
have accelerated sharply; and
WHEREAS to compensate for the accelerated cost of living
increase since January 1, 1976, persons who have retired on or before
January 1, 1979, should be granted a post retirement cost of living
increase benefit; and
WHEREAS the necessary funds to cover the cost of this benefit
will be provided from a Special Reserve Account of the Oakland County
Employees' Retirement System and will not require an appropriation
from the County,
NOW THEREFORE BE IT RESOLVED that the Oakland County Employees'
Retirement System be amended by adding a new sub-paragraph (f) to
Section 34.1 to read as follows:
Post Retirement Benefit Increases:
Section 34.1
(f) For a monthly benefit which became effective before January 1,
1979, beginning with the monthly benefit payment, if any, for
the month of January, 1979, the amount of the monthly benefit
shall be increased by 1/6 of 1% of the amount of the benefit
otherwise payable for each full month (excluding any fraction
of a month) for the period from the effective date of the
benefit to January 1, 1979; the increase shall be limited to
no more than seventy-five dollars per month.
The Personnel Committee, by John J. McDonald, Chairman, moves
the adoption of the foregoing resolution.
PERSONNEL COMMITTEE
Vri/446:7
John/. McDonald, C airman
I HERW APIWVE THE FOREGOING RESOLUTION
lsi this
#8850 March 1, 1979
Moved by McDonald supported by Gorsline the resolution be adopted.
Discussion followed.
AYES: DiGiovanni, Doyon, Fortino, Gabler, Gorsline, Hobart, Kelly, Lewand,
McConnell, McDonald, Moffitt, Montante, Moore, Murphy, Page, Patterson, Perinoff,
Pernick, Peterson, Price, Wilcox, Aaron. (22)
NAYS: None. (0)
A sufficient majority having voted therefor, the resolution was adopted.
STATE OF MICHIGAN)
COUNTY OF OAKLAND)
I, Lynn D. Allen, Clerk of the County of Oakland and
having a seal, do hereby certify that I have compared the annexed copy of
Miscellaneous Resolution #8850 adopted by the Oakland County Board of
Commissioners at their meeting held on March 1, 1979
with the original record thereof now remaining in my
office, and that it is a true and correct transcript
therefrom, and of the whole thereof.
In Testimony Whereof, I have hereunto set my hand and
affixed the seal of said County at Pontiac, Michigan
day of March 19. D.
Lynn D. Allen Clerk
By Deputy Clerk