HomeMy WebLinkAboutResolutions - 1989.07.20 - 17265July 20, 1989
MIS .1 D US RESOLUTION 89163
BY: FINANCE COMMITTEE, DR. G. WILLIAM CADDELL, CHAIRPERSON
IN RE; FUNDING POLICY FOR RETIREES MEDICAL AND PENSION BENEFITS
TO THE OAKLAND COUNTYBOARD OF COMMISSIONERS
Mr. Chairperson, Ladies and Gentlemen:
M3EPEAS the Board of Commissioners recognizes the inseparability of
pension and retirees medical benefits; and
WHEREAS funding for said benefits should be concurrently considered
and under a consistent established policy; and
WHEREAS the pension portion of the retirement benefits is overfunded
at this time while the medical benefits has a substantial unfunded
liability ; and
WHEREAS the Board wishes to make a review of funding of both programs
and at the same time maintain a funding level at least equal to that which
exists in total for both programs; and
NOW THEREFORE BE IT RESOLVED the County Executive through its
Department of Management and Budget and the Treasurer make an extensive
review of the actuarial assumptions of both the medical and pension
benefit programs and report said findings to the Retirement Commission and
the Board of Commissioners, so that the Board can establish a minimum
funding level for retirees medical and pension. benefits.
Mr. Chairperson, on behalf of the Finance Committee, I move the
adoption of the foregoing resolution-
FINANCE COMMITTEE
TOING RESOLUTION
Da
wk-mrretireeesmed
RESOLUTION # 89163 July 20, 1989
Moved by Caddell supported by Pappageorge the resolution be adopted.
AYES: Olsen, Pappageorge, Pernick, Price, Rewold, Skarritt, Wolf, Aaron,
Bishop, Caddell, Chester, Crake, Ferrens, Gosling, Hobart, Jensen, Johnson, S. Kuhn,
Law, Luxon, McConnell, McCulloch, McPherson, Moffitt, Oaks. (25)
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 the attached resolution,
adopted by the Oakland County Board of Commissioners at their regular meeting
held on July 20 , 19 89 with the original record thereof now remaining
on file 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 this 20th day of --.1.111y, 19.0 ,
LYNN D. ALLEN, County Clerk
Register of Deeds
Deputy Clerk