Number
100173
Version
SUBSTITUTE 1
Reference
091530
091609
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 Local 494, IBEW, AFL-CIO, Fire Equipment Dispatchers 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. Only employes who retire in 2010 are eligible.
3. Employes retiring in 2010 and 2011 shall receive a cost-of-living increase of 2% effective the first anniversary of their retirement.
4. Employes hired on or after June 15, 2010, shall contribute 5.5% of their earnable compensation as a contribution to the retirement system.
In addition, for employes of Local 494, IBEW-AFL-CIO, Electrical Group, the requirement to give notice of retirement by August 31, 2010 to be eligible for the bonus year has been removed from ch. 36 of the charter.
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 091530, passed March 24, 2010, is amended to read:
36-04. Creditable Service.
1. SERVICE CREDITED. c.
NOTE: The foregoing amendment to s. 36-04-1-c shall apply only to policemen represented by the MPA and firemen represented by Local 215, IAFF, who participate in the combined fund and who retire on a service retirement allowance between January 1, 1998 and December 31, 2002; policemen represented by the MPSO, and general city employes, who participate in the combined fund and who retire on a service retirement allowa...
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