City of Milwaukee - File #: 001665

• File #: 001665
• Version: 1
• Type: Charter Ordinance
• Status: Passed
• File created: 3/20/2001
• In control: FINANCE & PERSONNEL COMMITTEE
• Final action: 4/10/2001
• Effective date: 6/27/2001
• Title: A substitute charter ordinance relating to the minimum retirement allowance.
• Sponsors: THE CHAIR
• Indexes: CHARTER ORDINANCES, RETIREMENT BENEFITS, WAGES AND BENEFITS

Date	Ver.	Action By	Action	Result	Tally
4/27/2001	1	CITY CLERK	PUBLISHED
4/17/2001	1	MAYOR	SIGNED
4/10/2001	1	COMMON COUNCIL	PASSED	Pass	16:0
4/5/2001	1	FINANCE & PERSONNEL COMMITTEE	RECOMMENDED FOR PASSAGE	Pass	4:0
3/23/2001	1	FINANCE & PERSONNEL COMMITTEE	HEARING NOTICES SENT
3/23/2001	1	FINANCE & PERSONNEL COMMITTEE	HEARING NOTICES SENT
3/22/2001	1	CITY CLERK	DRAFT SUBMITTED
3/21/2001		FINANCE & PERSONNEL COMMITTEE	REFERRED TO
3/21/2001		FINANCE & PERSONNEL COMMITTEE	REFERRED TO
3/20/2001	0	COMMON COUNCIL	ASSIGNED TO

Number
001665
Version
Original
SUBSTITUTE 1
Reference

Sponsor
THE CHAIR
Title
A substitute charter ordinance relating to the minimum retirement allowance.
Sections
36-05-1-a am
Analysis
In accordance with charter ordinance 382, effective March 21, 1972, employe retirement provisions were amended to provide a minimum allowance of $25 per month. If the retirement allowance would be less than $25 per month, the member would be paid a lump sum, which would be the actuarial equivalent of the allowance. This amendment authorizes the annuity and pension board to increase the minimum allowance amount to reflect inflation as measured by the consumer price index.
Body
The Mayor and Common Council of the City of Milwaukee do ordain as follows:

Part 1: Section 36-05-1-a of the charter is amended to read as follows:

36-05. Benefits.

1. SERVICE RETIREMENT ALLOWANCE.

a. To File Request. Any member in active service may retire on or after reaching the minimum service retirement age, upon filing with the board a request for retirement and a retirement allowance on a form provided by the board for that purpose. Such request shall be filed not less than 30 days nor more than 90 days prior to the effective date of retirement. A member whose allowance would be less than $25 per month shall be paid a lump sum amount which is the actuarial equivalent of the allowance and the member shall not be eligible to receive any other benefits under this system. >>The board may adjust the minimum allowance provided however that the minimum monthly allowance of $25 may not be increased by more than the cost of living increase as measured by the increase in the Consumer Price Index All Urban Consumers-CPI-U U.S. Cities Average as reported by the U.S. Department of Labor Bureau of Labor Statistics between January 1, 1973 and the effective date of the adjustment. A member whose allowance is less than the minimum allowance shall be paid a lump s...