City of Milwaukee - File #: 060488

• File #: 060488
• Version: 2
• Type: Charter Ordinance
• Status: Passed
• File created: 7/31/2006
• In control: FINANCE & PERSONNEL COMMITTEE
• Final action: 9/26/2006
• Effective date: 12/12/2006
• Title: A substitute charter ordinance relating to compliance with Internal Revenue Code provisions for service retirement allowance and benefit under the city employes’ retirement system as a result of the Global Pension Settlement.
• Sponsors: THE CHAIR
• Indexes: EMPLOYES RETIREMENT SYSTEM, RETIREMENT BENEFITS, WAGES AND BENEFITS

Date	Ver.	Action By	Action	Result	Tally
10/12/2006	2	CITY CLERK	PUBLISHED
10/5/2006	2	MAYOR	SIGNED
9/26/2006	2	COMMON COUNCIL	PASSED	Pass	15:0
9/20/2006	2	CITY CLERK	DRAFT SUBMITTED
9/20/2006	1	FINANCE & PERSONNEL COMMITTEE	SUBSTITUTED; Minutes note: Speaker: City Attorney Ellen Tangen	Pass	5:0
9/20/2006	2	FINANCE & PERSONNEL COMMITTEE	RECOMMENDED FOR PASSAGE	Pass	5:0
9/19/2006	1	CITY CLERK	DRAFT SUBMITTED
9/13/2006	0	FINANCE & PERSONNEL COMMITTEE	HEARING NOTICES SENT
9/6/2006	0	FINANCE & PERSONNEL COMMITTEE	REFERRED TO
8/16/2006	0	FINANCE & PERSONNEL COMMITTEE	REFERRED TO
8/16/2006	0	FINANCE & PERSONNEL COMMITTEE	REFERRED TO
7/31/2006	0	COMMON COUNCIL	ASSIGNED TO

Number
060488
Version
SUBSTITUTE 2
Reference

Sponsor
THE CHAIR
Title
A substitute charter ordinance relating to compliance with Internal Revenue Code provisions for service retirement allowance and benefit under the city employes’ retirement system as a result of the Global Pension Settlement.
Sections
36-02-12-a am
36-05-1-j cr
36-05-7-b-3 am
36-05-7-e cr
Analysis
This charter ordinance amends and creates certain provisions of chapter 36 for service retirement allowance and benefit under the city employes’ retirement system to clarify compliance with sections 415 and 401(a)(9) of the Internal Revenue Code as, requested by the Internal Revenue Service in connection with a request for a Determination Letter with respect to the status of chapter 36 as a qualified retirement plan under section 401(a) of the Internal Revenue Code.
Body
The Mayor and Common Council of the City of Milwaukee do ordain as follows:

Part 1. Section 36-02-12-a of the charter is amended to read:

36-02. Definitions.

12. EARNABLE COMPENSATION shall mean:

a. The annual regular base salary that would be payable to a member if he or she worked the full normal working time for his or her position, provided, however, that where service is credited during periods of absences as provided in s. 36-04-1-b, the employe shall be considered to have an earnable compensation during such periods of absence equivalent to his or her earnable compensation as of his or her last month of employment prior to the beginning of such absences. In cases where compensation includes maintenance, the board shall fix the value of that part of the compensation not payable in money. Policemen, excluding sergeant of police, detective lieutenant and ranks above same, retiring on a service retirement allowance on or after January 1, 1983, shall have longevity in rank pay, if any, payable at the close of the calendar year immedia...