Number
001565
Version
SUBSTITUTE 1
Reference
Sponsor
THE CHAIR
Title
Substitute resolution approving a memorandum of understanding between the city of Milwaukee and the Milwaukee Police Association, Milwaukee Police Supervisors Association, Association of Retired Employees of the City of Milwaukee and the Milwaukee Professional Fire Fighters Association, Local 215, IAFF, relating to the firemen and policemen's survivorship fund.
Analysis
The global settlement contemplates dissolution of the firemen and policemen's survivorship fund (fund) based on approval of 100% of the members and beneficiaries of the fund. 100% of the members and beneficiaries participating in the fund as of January 1, 2000 have not consented to participation in the combined fund. On October 18, 2000 the aforementioned parties entered into a memorandum of understanding (MOU). In consideration of the city's waiver of the 100% participation requirement found in part 7, sub. 5 of common council charter ordinance file no. 991585; the parties agree to investigate a means whereby non-consenting members of the fund could be provided with survivorship benefits and the fund could be dissolved. The MOU represents a culmination of those efforts. As a result of their investigation, the parties have agreed that the fund may be dissolved through the attached charter ordinance without the need for further court approval.
Body
Whereas, The above-mentioned parties have entered into a global pension settlement, which contemplated dissolution of the firemen and policemen's survivorship fund based upon participation of 100% of the members and beneficiaries participating in the fund as of January 1, 2000; and
Whereas, When it became apparent that the 100% participation was not obtainable, the parties committed themselves to investigate a means where non-consenting members of the fund could be provided with survivorship benefits and the fund dissolved; and
Whereas, The parties ha...
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