Pension Board & System_September 1974 to January 1975PENSION BOARD & SYSTEM 96
(coned) Date
present pension plans with a view towards 97x9774
reducing benefits to future employees thereby
reducing the City's obligations, and to report
back to the Council with recommendations,.
carried.
City Mgr. requested to arrange to have actuary
and investment counselors for both Pension
Brds attend meeting on Monday, 9/23/74 at 7:00 p.m.
Appearance of Pension Board Actuary,
Mr. Nathaniel Gaines, and investment coun-
selors representatives, Messrs. Edward F.
Lummis, Jr., Burr Stevens, to discuss the
City's two pension systems. Deferred.
PENSION BOARD & SYSTEM
Councilman Dr. Haber suggested that pension
benefits have the highest priority in re-
lation to next year's budget and in relation
to the hiring of any new employees during
the 1974-75 fiscal year.
Memo 44885, Ord. .assed on first readin•
hearing and secon• rea•ing sc e.0 e• or
1/15/75 re: amending Pension Ord. to pro-
vide for a 10% cost -of -living increase to
retirants and pensioners who were on the
retirement payroll prior to 7/1/69.
Budget Advisory Committee to review and
submit recommendations.
PENSION BOARD & SYSTEM
Memo #4887, Councilman Philip Sahl
appointed to Brd. of Trustees to replace
V.M. Murray Meyerson who submitted re-
signation because of business committments.
Ord. amending Pension Ord. to provide for
10% cost of living increase to retirants
and pensioners who were on the retirement pay-
roll prior to July 1, 1969. (1st reading
12/11/74). Hearing concluded. Ord. No. 75-
2028 adopted, retroactive to 10/1/74; to be
funded from 1975-76 Budget. Memo #4885.
Recommendation of Budget Advisory Committee
discussed.
9/23/74
97
Date
9/24/74
12/11/74
98
Date
12/111/74
1/15/75