Number
020475
Version
SUBSTITUTE 1
Reference
Sponsor
THE CHAIR
Title
A substitute charter ordinance relating to voluntary separation under the employes' retirement system.
Section
36-05-6-d-3 cr
Analysis
If an employe is involuntarily separated or voluntarily separated from the employes' retirement system, the employe may elect from several options. These options may include leaving accumulated contributions in the fund until an employe attains the minimum service retirement age, receiving an immediate allowance or withdrawing accumulated contributions. The provisions of s. 36-05-6-b of the charter relating to involuntary separation provide that if a member authorized to make an election does not make an election within a time specified by the board, the board may by rule direct the election be made on the member's behalf. Currently, there is no similar provision with respect to voluntary separation. This charter ordinance would create s. 36-05-6-d-3,which would authorize the board by rule to make an election on behalf of the member if the member does not make the election within the time specified by the board.
Body
The Mayor and Common Council of the City of Milwaukee do ordain as follows:
Part 1: Section 36-05-6-d-3 of the charter is created to read:
36-05. Benefits.
6. SEPARATION BENEFITS.
d. Deferred Retirement. d-3. If a member authorized to make an election under subd. 2 does not make an election within a time specified by the board, the board may by rule direct the election be made on the member's behalf.
Part 2. This is a charter ordinance and shall take effect 60 days after its passage and publication, unless within such 60 days a referendum petition is filed as provided in s. 66.0101(5), Wis. Stats., in which event this ordinance shall not take effect until submitted to a referendum and approved by a majority of the electors voting thereon.
LRB
APPROVED AS TO FORM
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