HomeMy WebLinkAboutResolutions - 1972.12.21 - 15688REPORT
Mr. Mainland By
The COmmittee, Personnel Practices
by
Resol u tion No.
be adopted.
Chairman, reports Miscellaneous
with the recommendation that the resolution
William MaiOand
6174
December 21, 1972
IN RE: RESOLUTION #6174 —AMENDMENTS TO OAKLAND COUNTY RETIREMENT SYSTEM
To the Oakland County Board of Comissioners
Mr. Chairman, Ladies and Gentlemeb
PERSONNEL PRACTICES COMMITTEE
William L. Mainland, Chairman
Miscellaneous Resolution No. 6174 December 19, 1972
AMENDMENTS TO
RE: OAKLAND COUNTY RETIREMENT SYSTEM -
AlEXPOIENVO0VCX
BY: PERSONNEL PRACTICES COMMITTEE - Mr. Mainland
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Mr. Chairman, Ladies and Gentlemen:
WHEREAS, the CoUnty, as a part of labor negotiations, has agreed
to increase the County Retirement Benefit For la, applicable to the first
$4,200.00 of Final Average Compensation, from 1.45 percent to 1-.7 percent
as of January 1, 1973; and
FURTHER, upon approval of the members of the County Retirement
System, to raise the employee contribution rate as of January 1, 1973
from 5 percent to 6 percent, to additionally raise the County Retirement
Benefit Formula as of January I, 1973 to 1.6 percent of the total Final
Average Compensation; and
WHEREAS, sufficient funds have been allocated in the "Salaries"
portion of the 1973 Budget; which, together with funds on hand in the
Sundry Reserves from recovery of fringe benefit coats from outside financed
County departments, are sufficient to meet the, total employer costs for
such amendments, to wit: $280,637.00 for a raise to 1.7 percent and $45,065.00.
additional for the raise to 1.8 percent; and I
WHEREAS, the Oakland County Retirement Commission and your Committee
so recommend.
NOW THEREFORE BE IT RESOLVED, that effective January 1, 1973, Subsection
(a) (2) of Section 25 of the Oakland County Employees Retirement System entitled
"Retirement Allowance" be and the same iS hereby amended to read as follows:
(2) A pension which when added to his annuity Will provide a re-
tirement allowance equal to the number of years, and fraction of a
year, of his credited service multiplied by 1.7 Percent of his final
average compensation. His pension prov ided in this paragraph shall
not exceed $1,800 a year or 3/4 of his final average compensation,
whichever is greater.
FURTHER RESOLVED that effective January 1, 1973, upon certification
by the Oakland County Employees Retirement Corn fission that the members of the
County Retirement System have favorably voted Upon the proposal to raise the
Employee contribution rate from 5 percent to 6 percent, that Section 25, Subsection
(a) (2) be and the same hereby is additionally amended to read 1.8 percent rather
than 1.7 percent and that Subsection (b) of Section (38) entitled "Employees
Savings Fund" be and the same is hereby amended to read:
(b) Until January 1, 1973 a member's Contributions to the retirement
system shall be 5 percent of his compensation. From and after
December 31, 1972 a member's contributions to the retirement system
shall be 6 percent of his compensation!. The Officer or Officers
responsible for preparing the payroll Shall cause the contributions
provided for herein to be deducted from the compensation of each
member on each and every payroll, for each and every payroll period,
so long as he continues to be a member.
The Personnel Practices Committee, by Mr. William L .. Mainland,
Chairman, moves the adoption of the foregoing resolution..
•
William L. Maihlahd, Chairman
Moved by Mainland supported by Lennon the resolution be referred to
the Finance Committee. There were no objections. The resolution was referred.
9
Alexander C. Perinoff, Chairman
REPORT December 21, 1972
BY: FINANCE COMMITTEE - Alexander C. Perinoff, Chairman
IN RE: MISCELLANEOUS RESOLUTION #6174
AMENDMENTS TO OAKLAND COUNTY EMPLOYEES
RETIREMENT PLAN
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Mr. Chairman, Ladies and Gentlemen:
Pursuant to Rule XI-C of this Board, the Finance Committee finds that the
sum of $175,000.00 is available from the Personnel Portion of the 1973 County Budget
within the fringe benefit section and the balance is available from the Sundry Reserve
Fund.
FINANCE COMMITTEE
By eecoevirageme.ea ----Deputy Clerk
Moved by Mainland supported by Aaron that Resolution #6174
be adopted.
AYES: Aaron, Burley, Coy, Daly, Dearborn, Doyon, Gabler, Harrison
Horton, Houghten, Kasper, Kronenberg, Lennon, Mainland, Mathews, Paholak,
Perinoff, Pernick, Richardson. (19)
NAYS: None. (0)
A sufficient majority having voted therefor, the resolution
was adopted.
STATE OF MICHIGAN)
COUNTY OF OAKLAND)
1, Lynn D. Allen, Clerk of the County of Oakland and
having a seal, do hereby certify that have compared the annexed copy of
Resolution #6174 adopted by the Oakland County Board of
.. oo .....0.0.000000e60.0.040,0
Commissioners at their December 21, 1972 meeting
with the original record thereof now remaining in my
office, and that it is p true and correct transcript
therefrom, and of the whole thereof.
In Testimony Whereof, flhave hereunto set my hand and
affixed the seal of said County at Pontiac, Michigan
0.12.00-.B.D. 0 • qs.".....day
Lynn D. Alien,, ,...,,..Clerk