HomeMy WebLinkAboutordinance.council.002-74RECORD OF PROCEEDINGS
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ORDINANCE NO~
(Series of 1974)
AN ORDINANCE AMENDING PROVISIONS OF THE CITY OF
ASPEN EMPLOYEES RETIREMENT PLAN AND TRUST, APPEN-
DIX A OF THE MUNICIPAL CODE OF THE CITY OF ASPEN;
EXCLUDING POLICEMEN AND FIREMEN FROM PARTICIPATION;
PROVIDING AN ALTERNATE METHOD OF DISTRIBUTION; AND
CHANGING THE NUMBER OF COMMITTEE MEMBERS AND RE-
QUIRING THAT TWO MEMBERS BE QUALIFIED ELECTORS NOT
CONNECTED WITH MUNICIPAL GOVE~NT.
WHEREAS, the City Council has been apprised of
recent amendments to state legislation which affect
allowable participants and the constitution of the
retirement committee, and
WHEREAS, the committee has requested that a
new provision be enacted which will permit termi-
nating employees, at their election, to withdraw
their contributions to the fund without the neces-
sity of waiting until 30 days after the end of the
plan year,
NOW, THEREFORE, BE IT ORDAINED BY THE CITY
COUNCIL OF THE CITY OF ASPEN, COLORADO:
Section 1.
That section 2.1 of the City of Aspen, Colorado,
Employees Retirement Plan and Trust, Appendix A of
the Municipal Code of the City of Aspen, Colorado, is
hereby amended to read as follows:
"2.1 Eligibility requirements. Every officer and
employee who is employed by the city on a regular,
full time basis, excluding elected officials,
POLICEMEN, FIREMEN, and any person who is cus-
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tomarily employed for less than twenty (20)
hours in one week, or less than five (5)
months in any calendar year, shall be eligible
to participate in the retirement plan as of
the first day of the month, next succeeding
his completion of three months of continuous
full-time employment."
SECTION 2.
That section 3.1 of the City of Aspen, Colorado,
Employees Retirement Plan and Trust, Appendix A of
the Municipal Code of the City of Aspen, Colorado, is
hereby amended to read as follows:
"3.1 Contributions by the city. Subject to the
right reserved by the city to alter, amend, or
discontinue this retirement plan, the city
mereby agrees to contribute for each participant
employed by said city, three per cent (3%) of
the compensation of such participant.
The above sum shall be reduced for p~licemem
~= any ~e= group that has a separate retire-
ment plan, to the extent payment for said sepa-
rate plan exceeds the current employee's social
per cent
cent (5%)
Section 3.
security contribution rate. Nothing herein shall
prevent such participant from contributing three
(3%), four per cent (4%) or five per
to the plan."
That Article 6 of the City of Aspen,
Colorado,
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Employees Retirement Plan and Trust, Appendix A of
the Municipal Code of the City of Aspen, Colorado is
hereby amended by adding a new section 6.5 which sec-
tion reads as follows:
"6.5 Alternate distribution at election of parti-
cipant. In the event a participant shall resign
from the service of the city or be dismissed
other than for a cause specified in Section 6.4
and requests a lump sum distribution before 30
days after the end of the plan year, then, on
the approval of the committee, the participant
shall receive all contributions made by him plus
earnings and fund charges as of the December 31
next preceding (but not coinciding with) his
termination, and the contributions, if any, of
the participant from the preceding January 1 to
his termination date. The participant will for-
feit all interest in the city's
earnings and fund charges. The
of this account shall be applied as
Section 4.7."
Section 4.
That section 9.1 of the City of Aspen, Colorado,
Employees Retirement Plan and Trust, Appendix A of the
Municipal Code of the City of Aspen, Colorado, be
REPEALED amd REENACTED to read as follows:
"9.1 Membership of the committee. The committee
shall consist of five (5) members, one of whom
shall be the director of finance, two of whom
contributions,
forfeited portion
provided in
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shall be nonelected municipal employees elected
by said employees within thirty (30) days after
the retirement system becomes operative, and two
of whom shall be qualified electors of the muni-
cipality not connected with municipal government
and chosen by the City Council. The committee
shall by its own rules establish staggered four -
year terms for its members and their successors
shall be selected as herein provided."
Section 5.
If any provision of this ordinance or the application
thereof to any person or circumstances is held invalid,
such invalidity shall not affect other provisions or
applications of the ordinance which can be given effect
without the invalid provisions or applications, and to
this end the provisions of this ordinance are declared
to be severable.
Section 6.
A public hearing on this ordinance shall be held
on the c~ day of ~ ~.~ -- , 1974, at
p.m.~/~'f~y Council C~hambers, City Hall,
Aspen, Colorado.
INTRODUCED, READ AND ORDERED PUBLISHED as provided
by law by the Aspen City Council at its regular meeting
held in the City of Aspen on the /~ day of
1974.
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ATTEST:
FINALLY PASSED AND APPROVED by the Aspen City
Council on the ~-~ day.~ ~~k~_
1974. ' ~ ~ '~-
ATTEST:
City Clerk'
STATE OF COLORADO)
) ss CERTIFICATE
COUNTY OF PITKIN )
I, Lorraine Graves, City Clerk of Aspen, Colorado,
do hereby certify that the above and fore§oing ordinance was
introduced, read by title, and passed on first reading at a
regular meeting of the City Council of the City of Aspen on
January 14 , 197L, and published in the Aspen Times ,
a weekly newspaper of general circulation, published in the
City of Aspen, Colorado, in its issue of ,January 17 , 1974__,
and was finally adopted and approved at a regular meeting of
the City coUncil on January 28
published as Ordinance No. Z
said City, as provided by law.
, 1974__, and ordered
, Series of 197~_, of
IN WITNESS WHEREOF, I have hereunto set my hand and the
seal of said City of Aspen, Colorado, this ~a~
day of January , 19~
SEAL
~ _~orraine Graves, City Clerk