HomeMy WebLinkAbout87-37 - Amending Retirement Plan for Safety EmployeesRESOLUTION NO. 87-37
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
OOSTA 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
FOLLOW:
WHEREAS, the Retirement Plan for Safety Employees of the City of
Costa Mesa, established as of July 1, 1962, amended and restated effective
January 1, 1984, is hereby amended as follows:
4.94 Special Payment to Retired Employees
Effective July 1, 1987, the monthly amount of retirement benefits
payable to participants then retired and living on that date and receiving
benefits under Subsections 4.1, 4.2, or 4.3 shall be increased by one (1%)
percent for each full calendar quarter so retired from July 1, 1984, to
July 1, 1985, and by one-half (1/2%) percent for each full calendar quarter
so retired from July 1, 1985, to July 1, 1986, and by zero (0%) percent for
each full calendar quarter so retired from July 1, 1986, to July 1, 1987,
with a minimum increase of twenty ($20.00) dollars per month to such
participants then retired and living effective July 1, 1985.
NOW, THEREFORE, BE IT RESOLVED that the effective date of this amend-
ment shall be July 1, 1987.
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 18th day of May
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Ma of the City of Costa Mesa
ATTEST:
C ty Clerk of the City of Cost esa
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF OJSTA 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. 87-37 was duly and regularly passed and adopted by
the said City Council at a regular meeting thereof held on the 18th day of
May, 1987.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Seal
of the City of Costa Mesa this 19th day of May, 1987.
6i"_
C ty Clerk and ex -officio Cler of the
City Council of the City of C a Mesa