Pension Board & System_March to April 1976PENSION BOARD & SYSTEM
(NOT ON AGENDA) appearance by Chairman of
Budget Advisory Committee re: implementation
of recommendations for changes in Pension
Funding for future City employees. Mr. Harold
Segal, Chairman of BAC, appeared and urged
that Council hold workshop meetings as expe-
ditiously as possible, concerning the Committee's
recommendation (presented to Council 3/3/76) to
revise pension funding for future City employees,
particularly in view of information contained in
3/6/76 communication from Mr. R. Theodore Clark,
Jr., the City's labor relations consultant. Coun-
cilman Dr. Wikler's motion for passage of an ord.
implementing the four recommendations for changes
by B.A.C. died for lack of a second. City Mgr.
102
Date
3/31/76
PENSION BOARD & SYSTEM 103
(continued) Date
and City Atty. directed to set up procedural
schedule and a timetable, upon receipt of re-
quired information from Actuary. City Atty.
gave brief review of how Police and Firemen's
Pension System was separated from that of
General Employees, and suggested consideration
of establishing one system for future employees.
He was requested to further review matter, and
furnish Council with a report on same. Council-
man Meyerson requested that Actuary be asked to
consider whether or not reductions being con-
sidered will affect City's ability to compete
with other municipalities within Co. and the
State to continue to attract highest calibre
employees. 3/31/76
PENSION BOARD &. SYSTEM 104
Date
Amending Ord. No. 1901 (providing for Retire- 4/7/76
ment System for General Employees) to provide
for various changes in pension system. Re-
quested by Councilman Dr. Wikler. Deferred to
April 28. 1976 at 3:00 p.m. Council reiterated
requests made of Admin. during discussion of
this matter at March 31, 1976 meeting, as con-
tained in Action Summary of that date (Item
R-2A.2(b)) Page 5.
Discussion on 2 ords.requested by Councilman 4/28/76
Dr, Wikler re: amendments to Pension Systems
for General Employees and for Police and
Firemen° Deferred to May 5, 1976, at 2:00 p.m.