HomeMy Public PortalAbout1998_11_24_R267The Town of
Leesburg,
Virg' '
lnla
RESOLUTION NO.
A RESOLUTION:
PRESENTED November 24, 1998
98-267 ADOPTED November 24, 1998
AUTHORIZING THE TOWN MANAGER TO ENROLL THE
TOWN POLICE OFFICERS IN THE VRS LAW
ENFORCEMENT OFFICERS RETIREMENT SYSTEM
WHEREAS, surrounding police jurisdictions offer the Virginia Retirement
System's Law Enforcement Officer Retirement System which allows police officers to
retire at 50 years of age with 25 years of service; and
WHEREAS, the system has been recognized as a valuable benefit for the town
and its police officers; and
WHEREAS, an actuarial study has determined that the cost to enroll the town
police department in the Law Enforcement Officer System is approximately $137,000;
and
WHEREAS, the town police department has received $125,000 in donations to be
invested to meet the needs of town police officers.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia
as follows:
SECTION I. The town manager is authorized to enroll the town police officers in
the Law Enforcement Officers System of the Virginia Retirement System effective July
1, 1999.
SECTION II. The $125,000 donation is authorized to be used to help offset the
cost of the first year of enrollment.
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RESOLUTION - LAW ENFORCEMENT OFFICERS RETIREMENT
PASSED this 24~ day of November, 1998.
~nes E. Clem, Mayor
Town of Leesburg
ATTEST:
Clerk of Council
R:VRSLEORS