Section 103-499; Ord. 17443; Changing the MO Local Government Employees Retirement System (LAGERS) Benefit Program from LT-10 (65) to L-6


Ordinance No.            17443              Council Bill No.           B 308-02            

AN ORDINANCE

electing to change the Missouri Local Government Employees Retirement System benefit program for City employees from LT-10 (65) to L-6; directing the City Clerk to certify the election; finding that a cost statement has been made available and properly filed; and fixing the time when this ordinance shall become effective.

BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBIA, MISSOURI, AS FOLLOWS:

    SECTION 1.  Pursuant to Section 70.655 RSMo, the City of Columbia, Missouri, hereby elects to change the Missouri Local Government Employees Retirement System (LAGERS) benefit program applicable to City employees who are members of the LAGERS system from benefit program LT-10 (65) to benefit program L-6.  This election shall take effect on October 1, 2002.

    SECTION 2.  The City Clerk is hereby authorized and directed to certify this election to the Missouri Local Government Employees Retirement System within ten days of the passage of this ordinance.

    SECTION 3.  The City Council hereby finds that a statement regarding the cost of this election has been available as public information for at least 45 calendar days prior to the passage of this ordinance and that the statement has been filed in the office of the City Clerk and with the Joint Committee on Public Employee Retirement.

    SECTION 4.  This ordinance shall be in full force and effect from and after October 1, 2002.

    PASSED this 16th day of September, 2002.