HomeMy WebLinkAbout89-149 - Amending Retirement Plan for Safety EmployeesRESOLUTION NO. 89-149
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
COSTA MESA, CALIFORNIA, AMENDING THE RETIREMENT
PLAN FOR SAFETY EMPLOYEES OF THE CITY OF COSTA
MESA.
THE CITY COUNCIL OF THE CITY OF COSTA MESA DOES HEREBY RESOLVE AS
FOLLOWS:
WHEREAS, the Retirement Plan for Safety Employees of the City of Costa
Mesa, established as of July 1, 1962, last amended and restated effective
July 1, 1987, is hereby amended as follows:
4.95 Special Payment to Retired Employees
Effective July 1, 1989, the monthly amount of retirement benefits
payable to participants then retired and liviN on that date and receiving
benefits under Subsections 4.1, 4.2, or 4.3, shall be increased by one
percent (1%) for each full calendar quarter so retired from July 1, 1986 to
July 1, 1987, and by one-half percent (1/2%) for each full calendar quarter
so retired from July 1, 1987 to July 1, 1988, and by zero percent (0%) for
each full calendar quarter so retired from July 1, 1988 to July 1, 1989
with a minimum increase of twenty dollars ($20.00) per month to such parti-
cipants then retired and living effective July 1, 1987.
NOW, THEREFORE, BE IT RESOLVED that the effective date of this amend-
ment shall be July 1, 1989.
BE IT FURTHER RESOLVED that nothing contained in this amendment to the
restated Retirement Plan shall be held to alter or affect any of the provi-
sions of this Plan other than as herein specifically provided.
PASSED AND ADOPTED this 5th day of June, 1989.
Mayor of the Ci Costa Mesa
ATTEST:
y Clerk of the City of Costa esa
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
CITY OF COSTA MESA
I, EILEEN P. PHINNEY, City Clerk and ex -officio Clerk of the City
Council of the City of Costa Mesa, hereby certify that the above and fore-
going Resolution No. 89-149 was duly and regularly passed and adopted by
the said City council at a regular meeting thereof held on the 5th day
of June, 1989.
IN WITNES WHEREOF, I have hereunto set my hand and affixed the Seal of
the City of Costa Mesa this 6th day of June, 1989.
61
C ty Clerk and ex -officio Clerkthe
City Council of the City of Cos Mesa