City of Milwaukee - File #: 991758

• File #: 991758
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 2/29/2000
• In control: FINANCE & PERSONNEL COMMITTEE
• Final action: 3/21/2000
• Title: Substitute resolution appropriating $300,000 from the 2000 Contingent Fund to contract with a mailing and record keeping firm for the purpose of obtaining consent agreements with respect to the global pension settlement.
• Sponsors: THE CHAIR
• Indexes: AGREEMENTS, CONTINGENT FUND, RETIREMENT BENEFITS, WAGES AND BENEFITS

Date	Ver.	Action By	Action	Result	Tally
4/30/2013	1	COMMON COUNCIL	SIGNED
3/21/2000	1	COMMON COUNCIL	ADOPTED	Pass	17:0
3/15/2000	1	FINANCE & PERSONNEL COMMITTEE	RECOMMENDED FOR ADOPTION	Pass	5:0
3/15/2000	1	CITY CLERK	DRAFT SUBMITTED
3/6/2000	0	FINANCE & PERSONNEL COMMITTEE	HEARING NOTICES SENT
3/1/2000	0	FINANCE & PERSONNEL COMMITTEE	REFERRED TO
2/29/2000	0	COMMON COUNCIL	ASSIGNED TO

NUMB:
991758

VERS:
SUBSTITUTE 1
REF:

XXBY:
THE CHAIR
TITL:
Substitute resolution appropriating $300,000 from the 2000 Contingent Fund to contract with a mailing and record keeping firm for the purpose of obtaining consent agreements with respect to the global pension settlement.
ANLS:
This resolution reserves $300,000 in the 2000 Common Council Contingent Fund (0001-9990-C001-006300) for expenditure City Clerk Operating Expenditures Account (0001-1310-C015-006300) to amend the public relations contract with respect to the global pension settlement to include mailing and record keeping services. The purpose of the contract amendment is to handle all correspondence related to the consent agreements that are to be sent to all members of the Employes' Retirement System.
BODY:
Whereas, The City of Milwaukee faces potential costs of several million dollars annually as a result of the various pension lawsuits; and

Whereas, There is no unfunded liability in the pension system taken as a whole and there are sufficient surplus reserves available in the pension system taken as a whole to pay the additional liabilities incurred by the system as a result of the losses in pension lawsuits; and

Whereas, The City of Milwaukee has expressed to union presidents, retiree representatives and pension board members that it believes there may be a legal basis to enforce a binding settlement agreement on pension litigation and other pension issues; and

Whereas, Execution of a settlement agreement will require the City of Milwaukee to communicate the settlement terms to pension fund members and the public; and

Whereas, Execution of a settlement agreement will require the City of Milwaukee to solicit and process individual waivers from all 25,000 members of the pension system: now, therefore, be it

Resolved, By the Common Council of the City of Milwaukee, that the sum of $300,000 be reserved in the 2000 Common Council Contingent Fund (0001-9990-C0...