Number
001312
Version
SUBSTITUTE 2
Reference
Sponsor
Title
Substitute resolution provides supplementary pension benefits for 2001 for certain retired employes of the City of Milwaukee.
Analysis
Employes who retired prior to 1984 and their surviving spouse beneficiaries who meet certain conditions are eligible. The benefits are non-contractual and non-precedential.
Body
Whereas, The City of Milwaukee has provided supplementary pension benefits to certain retired City employes since 1975; and
Whereas, The 2001 City Budget includes $417,000 in a special purpose account "Retirees' Benefit Adjustment Fund" for the purpose of providing supplementary pension benefits; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the formula for pension supplementary payment to members of the Employes' Retirement System of the City of Milwaukee, who were employed by the City of Milwaukee with the Milwaukee Police Department, Milwaukee Fire Department or General City, and the Firemen's Annuity and Benefit Fund of Milwaukee, for 2001 shall be related to the members' retirement allowance as follows:
Retirement Date Amount Supplement
Pre- 1949 400%
1950 through 1952 300%
1953 through 1954 200%
1955 through 1958 165%
1959 through 1961 120%
1962 90%
1963 85%
1964 80%
1965 75%
1966 through 1967 60%
1968 through 1969 45%
1970 through 1973 25%
1974 through 1975 14%
1976 through 1979 7%
1980 through 1982 6%
1983 3%
; and, be it
Further Resolved, That this supplement is being granted under the following terms and conditions, without limitation by enumeration:
1. This supplement is granted to qualified retirees under the Employes' Retirement System, Firemen's Annuity and Benefit Fund, and to former Town of Lake retirees.
2. No retired member or his or her surviving spouse beneficiary, who is eligible to receive a supplemental benefit during 2001, shall have his o...
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