HomeMy WebLinkAboutResolutions - 1992.05.21 - 20823Misc. Res. # 92092 May 7, 1992
By: Personnel Committee - Marilynn E. Gosling, Chairperson
In re: Retirement System Amendment to Retirement Rules-
Military Service Credit
To the Oakland County Board of Commissioners
Ms. Chairperson, Ladies and Gentlemen:
WHEREAS, the Oakland County Board of Commissioners
recognized the time that employees of Oakland County spent in
defending the United States of America during times of war and
aggression through Miscellaneous Resolution #89025 and 89198; and
WHEREAS, the State law that governs our plan, allowing
military time to be granted, has been amended; and
WHEREAS, the years of service credit required to be
eligible to purchase the Military Credit has been changed from 10
years to Vesting years; and
WHEREAS, this Board is desirous of granting this
benefit after completion of 8 years of credited service with
Oakland County; and
WHEREAS, the Oakland County Board of Commissioners also
passed Miscellaneous Resolution #91163 which included Section 11,
Intervening Military Service; and
WHEREAS, the wrong wording was inserted in subsections
(c), (d), (e), and (f); and
WHEREAS, our Actuarial Consultants have reported that
there will be no additional cost to the system and no
appropriation required;
NOW THEREFORE BE IT RESOLVED, that in Section 11 that
subsections (c), (d), (e), and (f) be deleted,
(c) The individual has at least 10 years of credited
service, not including any credited service acquired
for non-intervening military service under the
provisions of Section 12;
(d) The individual pays the retirement system 5% of the
individual's annual, full-time rate of compensation at
time of payment multiplied by the period of service
being claimed;
(e) No more than 5 years of credited service shall be
granted on account of all military service of the
member;
(f) Credited service shall not be granted for periods of
military service which are or could be used for
obtaining or increasing a benefit from another
retirement system.
and new subsections be inserted as follows:
(c) No more than 5 years of credited service shall be
granted on account of all military service of the
member;
(d) Credited service shall not be granted for periods of
military service which are or could be used for
obtaining or increasing a benefit from another
retirement system.
BE IT FURTHER RESOLVED, that Section 12, subsection (a)
be changed from:
(a) The member has at least 10 years of credited service,
not including any credited service acquired for
intervening military service under the provisions of
Section 11;
to:
(a) The member has at least 8 years of credited service
with Oakland County, not including any credited service
acquired for intervening military service under the
provisions of Section 11;
MS. CHAIRPERSON, on behalf of the Personnel Committee,
I move the adoption of the foregoing resolution.
PERSONNEL COMMITTEE
Coun:y1Execut
FORE INGRESOLLMON
, I .
.."
May 21, 1992
FISCAL REPORT (Misc. 92092)
BY: FINANCE COMMITTEE, DR. G. WILLIAM CADDELL, CHAIRPERSON
IN RE: RETIREMENT SYSTEM AMENDMENT TO RETIREMENT RULES-MILITARY
SERVICE CREDIT
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Mr. Chairperson, Ladies and Gentlemen:
The Finance Committee, having reviewed Miscellaneous
Resolution #92092, reports that no appropriation is required.
Mr. Chairperson, on behalf of the Finance Committee, I move
acceptance of the foregoing report.
FINANCE COMMITTEE
40
• Resolution # 92092 May 21, 1992
Moved by Gosling supported by Obrecht the resolution be adopted.
AYES: McConnell, McCulloch, McPherson, Millard, Moffitt, Oaks, Obrecht,
Olsen, Palmer, Pappageorge, Pernick, Price, Schmid, Serra, Skarritt, Wolf,
Aaron, Bishop, Caddell, Crake, Ferrens, Gosling, Huntoon, Jensen, Johnson,
Krause. (26)
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, do hereby certify that the foregoing
resolution is a true and accurate copy of a resolution adopted by the Oakland County
Board of Commissioners on May 21, 1992
with the original record thereof now remaining in my office.
In Testimony Whereof, I have hereunto set my hand and affixed the seal of the County
of Oakland at Pontiac, Michigan this 21st day af-) May 1992
Lynni0/0. Allen, County Cl-erk