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Retirement Committee
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The General Employees Retirement Committee's charges are: (1) manage/administer the Retirement Plan for members and retirees, (2) manage accumulated Retirement Fund money, (3) determine the eligibility/credited service of members under Plan rules, (4) interpret the Plan's provisions and (5) authorize payment of retirement benefits and bills for expenses of the Plan and Committee. The committee sets the policies and procedures for these responsibilities and directs staff personnel and actuarial consulting firm to carry out the functions. The Committee also: (1) seeks information and advice to benefit the Plan and members, (2) recommends Plan changes to City Council for approval, (3) recommends to City Council enhancements to the Plan's provisions and benefits, (4) educates Committee's and Plan's members, (5) keeps abreast of legislation that could affect the Plan, (6) keeps the members informed of their current/projected benefits, (7) encourages Plan members to accumulate other sources of retirement income and (8) provides minutes of each meeting and files documents as required.
Regular Meeting Schedule: Recommended Qualifications: Sound judgment and the ability to understand and evaluate the General Employees Retirement Plan and factors which impact the Plan. The Committee is composed of the Finance Director and at least 3 employees of the City who are covered by the General Employees Retirement Plan. A member who is not an employee must be a taxpaying elector of the City. Time Commitment: 2-4 hours/month Current Members: Interested in applying?
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