Number
091530
Version
SUBSTITUTE 1
Reference
091308
Sponsor
THE CHAIR
Title
A substitute charter ordinance relating to retirement benefits for certain city employes.
Sections
36-04-1-c am
36-04-1-f am
36-05-1-h-5-b am
36-08-7-a-2 am
36-08-7-m am
Analysis
This charter ordinance changes retirement benefits for employes represented by Joint Bargaining Unit Local 139, IUOE, AFL-CIO/Milwaukee District Council 48, AFSCME, AFL-CIO as follows:
1. Effective for employes who retire on or after January 1, 2007, the expiration date for granting creditable service for prior military service is eliminated.
2. A bonus year is added to the pension payment formulary thus qualifying an employe to retire earlier or add pension-eligible service time, or both. Employes who retire in 2010 are eligible.
3. Employes retiring in 2010 and 2011 shall receive an earlier cost-of-living increase of 2% effective the first anniversary of their retirement.
4. Employes hired on or after January 1, 2010, shall contribute 5.5% of their earnable compensation as a contribution to the retirement system.
This charter ordinance also changes retirement benefits for employes of the Milwaukee Metropolitan Sewerage District represented by District Council 48, AFSCME, AFL-CIO, Local 366 as follows:
1. Employes who participate in the combined fund and retire on a service retirement allowance on or after March 8, 2010 shall be granted creditable service for prior military service.
2. A bonus year is added to the pension payment formulary thus qualifying an employe to retire earlier or add pension-eligible service time, or both. Employes who retire between May 1, 2010 and April 30, 2011, and give notice by February 1, 2011 of their intent to retire are eligible.
Body
The Mayor and Common Council of the City of Milwaukee do ordain as follows:
Part 1. The note appended to s. 36-04-1-c of the city charter, as affected by Common Council file number 091308, passed March 2, 2010, is amend...
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