HomeMy WebLinkAboutResolutions - No. 1525le the City Council
City of Lodi
Lodi, California
RESOLUTION NO. 152
GIVING NOTICE' R'AT "! 'CITY ceulttaiL..OF
THE CITY Off: ' r I, `,INTE 'DS TO ADO AN
ORDINANG/FIEGYIDING. FOR A RETIREMENT
PLAN FOR ma.OFFICERS AND EMOYEES .
AND PROVIDISG FOR TIMPAYMENT d? RE-
TIRE:ENT ALLOWANCES ANT) I:104toN'N;.
In order to effect, edonomy and ettieithey .in the public
service and provide :e. ,`v by *Mel lea cif tom.. G ity of
Lodi who may become superennuated may, w3theut, herd> hip Or pre-
judice, be r eplaeed b youa er and snore sap .1s . • loysea, the
City Council Of the Baty of Lei intends tv adept an ordinance
Providing for a retireiOnt System and a. pension plan for. the
retirement of such superannuated employees.
This ordinance has been submitted to the employees of the
City for approval as provided by law. and its major provisions
will be ae follows t
(1) Merbers are all permanent eeznployees of the City of
Lodi, including department heads and Council appointed' officers.
(2) Creates a fire man petition board; two fro , employees;
one a lay member; one, the City Treasurer; one, a Councilman.
Advisory only.
(3) Ss.tabl,.isha e a pension fund into *hi,eh all oontri-
butione troy members And the City, together with earned interest,
are deposited', mind's 'that be u eek f8r piioid1 pnrpam only$
(.) Provides a pension based on overage ' 8elary for the
five yearn .preeading retirement- equal to 1. 'Of ash average
salary, Plug' 3/14.% °of clary r*ceived .June 30, 1950, for eaoh year
of aerviee 'prior to June0, 1950, latter pension to ' bie when,*
paid by City. Employees 60 years old. or over drl June ,3.Q, 1950,
may remain in service to age 70 and on retirement will receive
pension equal to 0.00 per month for each year of service prior to
July 1, 1950, out of City funds plus current service pension for
servios after July 1, 1950.
(5) Providers normal retirement age at age 65 with optional
retirement at age 60 or over at lesser pension than if retired at
normal retirement age.
(6) Provides a scale of employee contributions to be
matched by the City based onere, tages of monthly salary rang-
ing from 30for male and 4.3 for female employees at age
20 to 6-1 for mae a and 7-1/4 for female employees at age
70 in steps of 1/2 by years.
(7) Provides for contributions for current service by
City equal to those of employees.
(8) Provides for refund of current service contributions
plus interest in Case of death, resignation or other separation
from service.
(9) No member Shall be retired prior to January 1, 1951.
(10) No tax levy to support City's contributions shall be
made without it being approved by vote of City electors.
(11) City's obligation for prior service benefits shall
be liquidated within 20 years.
(12) Basic amendments to ordinance require 4/5 vote of
City Council. -
(13) Ordinance effective July 1, 1950.
Therefore, be it resolved that it is the intention Of this
City Council to introduce and pass an ordinanoe to be tmmbered
No, 416 containing the provisions hereinbefore set forth, a copy
of which proposed ordinance is annexed hereto and made part hereof.
....... MO, A. ... x
Certified to be a . full, true and correct
copy of Resolution leo. 1525 of the City Council of
the City of Lodi as passed and adopted in regular
meeting held Nay 3, 1950, by the following vote:
AYES: Councilmen,
NOES: Councilmen,
ABET: Councilmen,
iity Ulerk