Number
001566
Version
SUBSTITUTE 1
Reference
Sponsor
THE CHAIR
Title
A substitute charter ordinance to implement the global pension settlement insofar as it relates to the firemen's and policemen's survivorship fund.
Analysis
The global pension settlement contemplated dissolution of the firemen's and policemen's survivorship fund with the consent of 100% of members of the survivorship fund. As a result of a court supervised process for obtaining consent to the global pension settlement, it was determined that less than 100% of the survivorship fund had consented to the global pension settlement. Thereafter a memorandum of understanding (MOU) was executed by and among the certified collective bargaining agents, Milwaukee Police Association, Milwaukee Police Supervisors' Organization, Association of Retired Employees of the City of Milwaukee, Milwaukee Professional Fire Fighters Association, Local 215, IAFF and the City of Milwaukee, wherein in consideration of the city's waiver of the 100% participation requirement, the parties agreed to use all of their best efforts to obtain court approval of the dissolution of the survivorship fund, notwithstanding that there are members and beneficiaries of the survivorship fund who have not executed consent forms to become members of the combined fund. In the MOU, the parties agreed to investigate a means whereby non-consenting members of the survivorship fund can be provided with survivorship fund benefits and the survivorship fund be dissolved, that will not result in an impairment or diminution of the non-consenting members' rights to such benefits. As a result of a subsequent investigation the parties to the MOU have determined that the objectives of the MOU can be accomplished without the need for court approval. As a consequence, they executed a MOU in which they agreed to the enactment of this charter ordinance and also agreed that in the event of a challenge to the legality and enforceability...
Click here for full text