NUMB:
971131
VERS:
SUBSTITUTE 3
REF:
XXBY:
ALD. KALWITZ, BREIER, MURPHY, PRATT, WITKOWIAK AND SCHRAMM
TITLE:
A substitute charter ordinance relating to employe eligibility under the employes' retirement system.
ANLS:
- Analysis -
This charter ordinance relating to employe eligibility under the employes' retirement system, permits transferring employes of the Milwaukee metropolitan sewerage district and new employes of the sewerage district who are entitled to employes' retirement system membership to continue eligibility as employes within the meaning of the employes' retirement system provided such arranged status does not jeopardize the status of the employes' retirement act as a qualified governmental plan within the meaning of the internal revenue code and ERISA. If this charter ordinance is adopted, participation under such arrangement shall not commence until the employes' retirement system has received favorable determinations from the internal revenue service and the department of labor.
BODY:
Whereas, Employes of the Milwaukee metropolitan sewerage district are members of the employes' retirement system; and
Whereas, The Milwaukee metropolitan sewerage district is entering into a contract with an entity which will assume responsibility for performance of substantially all operating and maintenance services of the Milwaukee metropolitan sewerage district; and
Whereas, It is contemplated that current employes of the Milwaukee metropolitan sewerage district will be given the opportunity to transfer to such entity; and
Whereas, It is the intent of the common council to facilitate the transfer in such a way so as not to disturb present members of the employes' retirement system and certain new hires' rights to membership in the employes' retirement system; now, therefore
The Mayor and the Common Council of the City of Milwaukee do ordain as follows:
Part 1. Any member of the employes' retirement system whose name currently appears on a reg...
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