HomeMy Public PortalAbout16-2002-16 Resolution 2002-16
RESOLUTION ELECTING TO ENLARGE PARTICIPATION INK?
THE PUBLIC EMPLOYEES' RETIREMENT FUND ANNED
i-� WHEREAS, The Common Council , is the governing body of the
City of Greencastle in Putnam County in the State
of Indiana, and
WHEREAS,the actuary for the Public Employees'Retirement Fund has furnished such governing body with
certain cost estimates to become a participant in such Fund as established by the Acts of 1945, Chapter 340,
and all Acts amendatory and supplemental thereto and
WHEREAS, such governing body is fully cognizant that the percentage of cost of gross annual payroll of
covered employees has been set at 3.25 % and$ by the actuary of the Fund, and
that at five year intervals, or more often if directed by the Boar od'f Trustees of the Public Employees' •
t
retirement Fund, the actuary will review the status of the employees covered and shall adjust the cost
percentage accordingly so that the FUND will remain on an actuarially sound basis, and
WHEREAS, such governing body acknowledges its liability and that, pursuant to law, it and its successors
in office, must appropriate sufficient funds each year to retire the employees'prior service liability in an
orderly manner and also fund the current cost accruing annually.
NOW THEREFORE, BE IT ORDAINED by the governing body of the
City of Greencastle in Putnam County,
in the State of Indiana:
SECTION ONE: The Common Council elects to enlarge its
participation in the Public Employees'Retirement Fund by including additional classes of employees as stated
below in the coverage under Chapter 340 of the Acts of 1945, all Acts amendatory and supplemental thereto.
This agreement supplements the original dated January, 01, 1976
SECTION TWO: The Common Council
agrees to make the required
contributions under the Public Employees' Retirement Fund Act, which is the Act of 1945, Chapter 340, and
all Acts amendatory thereof and supplemental thereto, including specifically the Acts of 1955, Chapter 329,
commonly designated as "The Indiana Public Employees' Social Security Integration and Supplemental
Retirement Benefit Act."
SECTION THRFF,: The positions listed on Appendix A are declared to be covered by the Fund.
SECTION FOUR: It is hereby declared that none of the classifications or positions specified in Section
Three are compensated on a fee basis or of an emergency nature, or in a part-time category.
SECTION FIVP: The active participating membership of the city of Greencastle
shall begin on July 01, 2002
SFC`TTO1'J,STX: This Resolution shall be in full force and effect from date of passage and upon approval
of the Board of Trustees of the Public Employees' Retirement Fund of Indiana, except that active
participating membership shall begin on the date set forth in Section Five.
SIGNATURES OF THE GOVERNING BODY:
Dated this 30th day of / /
April _, 2002 By: G G�1/ /( 74at_
Cha' an
�z>l C _/
APPENDIX A
Pursuant to IC 5-10.3-7-2(6)employees occupying positions normally requiring
performance of service of less than one thousand(1,000)hours during a year are excluded from
P.E.R.F.coverage. This is to certify that all positions listed on Appendix A are classified as full
time and normally require the performance of service of at least one thousand(1,000)hours
during a year.
The following positions are covered by the attached Resolution dated April 30, 2002
Positions Covered:
Park Maintenance - Full Time
Police Clerical - Full Time
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