HomeMy WebLinkAboutResolutions - 1964.10.26 - 19533Miscellaneous Resolution 43 7 5 October 27, 1964
BY: Mr. Levinson
IN RE: AMENDMENTS TO OAKLAND COUNTY EMPLOYEE'S RETIREMENT PLAN
TO THE OAKLAND COUNTY BOARD OF SUPERVISORS
Mr. Chairman, Ladies and Gentlemen:
WHEREAS, studies of the Oakland County Employee's Retirement Commission
have indicated the desirability of establishing a termination date for the accumulation of
retirement benefits for members of the Oakland County Employee's Retirement System at
age 70 and the determination of their respective benefits as of that time; and
WHEREAS, to effectuate an orderly transition and provide due notice to members,
it is necessary that a period of adjustment to the new program be provided for;
NOW THEREFORE BE IT RESOLVED that, subject to the final approval of the
State Board and effective January 1, 1966, the Oakland County Employee's Retirement
Plan, as amended, be further amended as to those sections and subsections indicated below
to read as follows:
Membership Terminates
Section 17. Except as otherwise provided in this resolution, should any
member no longer be employed by the County, for any reason except his
retirement or death, he shall thereupon cease to be a member and his
credited service at that time shall be forfeited by him. In the event he is
re-employed by the County prior to his attainment of age 70 years he shall
again become a member of the retirement system. Should his re-employment
occur within a period of 5 years from and after the date he last separated
from County employment, his credited service last forfeited by him shall be
restored to his credit: Provided, he returns to the employees savings fund
the amounts he might have withdrawn therefrom and not returned thereto,
together with regular interest thereon from the date of withdrawal to the
date of repayment. Upon his death or retirement he shall thereupon cease
to be a member.
Extensions in Service
Section 24 (A) Any member who has attained or attains age 65 years
may be continued in county employment: Provided, that no such continuance
in county employment shall be granted for more than one year at any one time,
and provided further that such continuance is (1) requested in writing by the
said member, (2) approved by his department head, and (3) approved by the
Commission. The Commission shall require evidence, satisfactory to the Commission,
indicating the mental and physical fitness of the said member to perform the duties
of his position. If he has 10 or more years of credited service upon leaving
county employment he shall be retired with a retirement allowance provided
for in section 25, and subiect to subsection (b) of this section.
(B) The "determination date" for a member shall be the first day of the
calendar month next following the month in which he attains age 70 years,
or January 1, 1966, whichever is later. If a member with 10 or more years
of credited service continues in the employ of the county on or after his
determination date his retirement allowance shall be computed in the same
manner in all respects as if he had retired as of his determination date. In
no case shall any member, regardless of his credited service, be credited
for service rendered after his determination date; nor shall his compensation
for service rendered after his determination date be used in computing his
final average compensation; nor shall he make contributions to the retirement
system from and after his determination date; nor shall he continue to be a
member of the retirement system after his determination date; anything in
this resolution to the contrary notwithstanding. Payment of his retirement
allowance, if any, shall be suspended during the period of his county
employment after his determination date and shall begin upon his separation
from county employment. Prior to his determination date, but not thereafter,
a member who is entitled to a retirement allowance, shall have the right to
elect an option provided for in section 27.
MR. CHAIRMAN, on behalf of the Retirement Committee, I move the adoption
of the foregoing resolution.
RETIREMENT COMMITTEE
elos Ha in, Chairman David Levinson
Moved by Levinson supported by Dohany the resolution be adopted.
A sufficient majority having voted therefor, the resolution was
adopted.