HomeMy WebLinkAboutResolutions - 1996.05.09 - 24849MISCELLANEOUS RESOLUTION #96101
BY: Finance and Personnel Committee, Sue Ann Douglas, Chairperson
IN RE: OAKLAND COUNTY RETIREMENT COMMISSION/OAKLAND COUNTY RETIREMENT
SYSTEM RESTATED RESOLUTION ON DEFINED CONTRIBUTION PLAN AND DEFINED
BENEFIT PLAN,
To the Oakland County Board of Commissioners
Chairperson, Ladies and Gentlemen:
WHEREAS Miscellaneous Resolution #94-185 established a Defined Contribution Plan for new employees
hired on, or after. July 1. 1994; and
WHEREAS Miscellaneous Resolution #94-275 amended the Retirement Plan to allow current employees
the option to switch from their current Defined Benefit Retirement Plan to the new Defined Contribution Plan; and
WHEREAS the approval of an alternate retirement plan required the approval of the State of Michigan
County Pension Plan Committee and the U.S. Internal Revenue Service. in addition to the authorization by the
Oakland County Board of Commissioners; and
WHEREAS the Attorney General, on behalf of the State County Pension Plan Committee has
recommended certain amendatory language to the restated resolution approved by the Board of Commissioners;
and
WHEREAS the Internal Revenue Service has recommended certain amendatory language to the Restated
Retirement Resolution as approved by the Board of Commissioners; and
WHEREAS a single document was created for the Defined Benefit Plan and the Defined Contribution
Plan, it is now necessary to split those into two separate and distinct documents for clarification purposes,
NOW THEREFORE BE IT RESOLVED that the Oakland County Board of Commissioners approve the
Oakland County Employees' Retirement System Restated Resolution on Defined Benefit and the Oakland County
Employees' Retirement System Restated Resolution on Defined Contribution.
BE IT FURTHER RESOLVED that the Board of Commissioner approve the provisions incorporating the
changes required by the State of Michigan County Pension Plan Committee and the U.S. Internal Revenue Service
as contained in the sections of the Restated Resolution.
Chairperson, on behalf of the Finance and Personnel Committee, I move the adoption of the foregoing
resolution, subject to the approval of the State County Pension Plan Committee and the U.S. Internal Revenue
Service.
FINANCE AND PERSONNEL COMMIT FEE
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Date
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Resolution #96101 May 9, 1996
Moved by Douglas supported by Kingzett the resolution be adopted.
AYES: Douglas, Garfield, Holbert, Huntoon, Jacobs, Jensen, Johnson,
Kaczmar, Kingzett, Law, McCulloch, McPherson, Moffitt, Palmer, Pernick, Powers,
Quarles, Schmid, Taub, Wolf, Amos, Crake, Dingeldey, Douglas. (24)
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 9, 1996 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 9th day of Ma 1996,c__
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LynniD. Allen, County Clerk