Number
081625
Version
SUBSTITUTE 1
Reference
020952
070957
Sponsor
THE CHAIR
Title
Substitute resolution amending the Intergovernmental Cooperation Agreement between the City of Milwaukee and the Employees' Retirement System and the Annuity and Pension Board relating to expenses in connection with the administration and operation of the Employees' Retirement System.
Analysis
This resolution amends the Intergovernmental Cooperation Agreement between the City and the Employes' Retirement System (ERS) and the Annuity and Pension Board (Board) by modifying the repayment methodology of annually advanced, budget-authorized funds, from the City to the ERS, for the administration and operation of the ERS.
Body
Whereas, On December 20, 2002, the Common Council adopted Resolution file number 020952, approving the Intergovernmental Cooperation Agreement between the City of Milwaukee and the ERS and the Board, which was attached to the file; and
Whereas, An Intergovernmental Cooperation Agreement between the City and the ERS and the Board, dated February 18, 2003, was agreed to for the period from January 19, 2001 forward, which provides that the City advance to the ERS budget-authorized funds for the administration and operation of the ERS to cover expenses incurred by the ERS from January 19, 2001 forward; and
Whereas, On November 9, 2007, the Common Council adopted Resolution file number 070957, amending the Intergovernmental Cooperation Agreement between the City and the ERS and the Board for indirect service charges relating to use of office space and payment of salary and employee benefits for the Secretary and Executive Director of the Employes' Retirement System; and
Whereas, The City and the ERS have agreed that the repayment methodology of annually advanced, budget-authorized funds, from the City to the ERS, for the administration and operation of the ERS should be modified, according to the attached amendment; now, therefore, be it
Resolved, By th...
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