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HomeMy WebLinkAboutOrdinance-2005-1353 - CITY OF WHEAT RIDGE, COLORADO INTRODUCED BY COUNCIL MEMBER SANG Council Bill No. 17-2005 Ordinance No. 1353 Series of 2005 TITLE AN ORDINANCE AMENDING CHAPTER 19 OF THE WHEAT RIDGE CODE OF LAWS CONCERNING THE WHEAT RIDGE POLICE PENSION FUND WHEREAS, the City Council of the City of Wheat Ridge has all authority pursuant to the constitution of laws of the state to enact ordinances for the preseNation of the public health, safety and welfare, and WHEREAS, the City Council has authority pursuant to C,R.S. S 31-30.5-101 to create and administer a police pension plan, and WHEREAS, in furtherance of this authority, the City Council has established a Wheat Ridge police pension fund, and WHEREAS, the Council has also established a police pension board to seNe as trustee for the pension fund, and WHEREAS, the Council wishes to adjust the membership of the police pension board and make related changes to other sections of the Code of Laws pertaining to the police pension fund BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF WHEAT RIDGE, COLORADO, AS FOLLOWS Section 1 Subsections 19-51 (a) and (b) of the Wheat Ridge Code of Laws are amended to read as follows' Sec. 19-51. Establishment. (a) There is hereby established the Wheat Ridge Police Pension Fund, the purpose of which is to provide retirement benefits for members of the city police department. Members of the plan are defined as full- time, paid, sworn police officers of the police department of the city and all police dispatchers hired prior to January 1, 1979. WRCA 029 - - (b) The pension fund established herein shall be in the form of a money purchase plan Tho phraso "money purchase plan" moans a program under which momber and city contributions arc accumulated with interest to purchase a benefit at retiroment. The bonofit amount is dotorminod by actuarblly convorting tho accumulated sum in a mombor's rotirement account into a monthly benofit basod on uniform actuarial assumptions approved by tho board for such plans. The term PLAN does not include a plan which provides for minimum benefits or other defined benefits Section 2 Subsections 19-52(a)(b) and (e) of the Wheat Ridge Code of Laws are amended to read as follows. Sec. 19-52. Operation. (a) The POLICE PENSION FUND policomon's monoy purchaso plan of the city shall be operated in accordance with the laws and the statutes of the state as provided in C R.S. tit. 31, art. 30.5 [9 31 30 101 ot seEf:-]as amended, and as the same may later be amended (b) The police pension board shall serve as trustees for the plan hereby created The members of the police pension board shall be the mayor, the city treasurer, the city clerk, the chief of police, and two (2) THREE (3) members of the plan as defined herein, which members of the plan shall be elected by the membership of the plan One (1) such plan member shall be elected annually for a twG- THREE-year term, so that the two (2) THREE (3) elected board members serve staggered terms as trustees, SUCH THAT ONE MEMBER IS ELECTED EACH YEAR. NOTWITHSTANDING THE FOREGOING, IN ORDER TO ACHIEVE STAGGERED TERMS AMONG THE THREE (3) ELECTED MEMBERS OF THE BOARD, AT THE ELECTION HELD IN NOVERMBER, 2005, TWO (2) MEMBERS SHALL BE ELECTED: THE CANDIDATE RECEIVING THE HIGHEST NUMBER OF VOTES SHALL BE ELECTED TO A THREE (3) YEAR TERM, AND THE CANDIDATE RECEIVING THE SECOND HIGHEST NUMBER OF VOTES SHALL BE ELECTED FOR A TWO (2) YEAR TERM. WRCA 026 - - The trustees shall receive no pay for services as members of the board (c) (d) (e) A plan document shall be prepared specifying the operation of the money purchase plan, and detailing handling of contributions, administration of the plan, refunds upon termination, the manner of benefit payments, and other information as required by applicable state law or this article or as is deemed necessary by the police pension board. A summary of the plan document shall be provided to all members of the plan, who shall thereafter be polled regarding their approval of the plan as provide in C.R.S. 3 31 30 1003.2(2)(0) ~ 31-30.5-101 et seq. At such time as the plan is approved by the members as required herein, the same shall be forwarded to city council which shall, by resolution, approve the plan. Section 3. Subsection 19-53(a) amended to read as follows: Sec. 19-53. Contributions - City. (a) The city shall pay from the general funds of the city into the police pension fund hereby created a sum monthly as shall not exceed ten (10) percent of the monthly salaries of all full-time paid, sworn police officers of the police department of the city And:111 polico dispatchers hired prior to Janu:1r/ 1, 1979. The city council shall be empowered to establish on a yearly basis the specific annual amount to be paid from the general fund of the city into the police pension fund Section 4 Subsection 19-54(b) is amended to read as follows. Sec. 19-54. Same - Officers. (b) TO AND INCLUDING DECEMBER 31, 2005, members may also elect to contribute a supplemental amount monthly to the fund, provided that the total amount contributed monthly by any member, including matching and supplemental contributions, shall not exceed twenty-five (25) percent of the member's WRCA 026 - -- current monthly salary THIS SUBSECTION (B) SHALL BE REPEALED AS OF JANUARY 1, 2006 Section 5 Severability. If any clause, sentence, paragraph, or part of this Ordinance or application thereof to any person or circumstances shall for any reason be judged by a court of competent jurisdiction invalid, such judgment shall not affect, impair or invalidate the remainder of this Ordinance or its application to other persons or circumstances Section 6. Effective Date. This Ordinance shall take effect immediately upon adoption, as permitted by the Charter INTRODUCED, READ, AND ADOPTED on first reading by a vote of ---8- to -0....- on this ..2.6..t.h day of September , 2005, ordered published in full in a newspaper of general circulation in the City of Wheat Ridge and Public Hearing and consideration on final passage set for October 10 , 2005, at 7:00 o'clock pm, in the Council Chambers, 7500 West 29th Avenue, Wheat Ridge, Colorado. READ, ADOPTED AND ORDERED PUBLISHED on second and final reading by a vote of 1L- to ....Q..., this 10th day of October , 2005 SIGNED by the Mayor on this 11 th day of Oc tober ,2005 ATTEST APPROVED AS TO FORM BY CITY A~;~j!EY . / _., Jtl~ ,Z;2n.aj/~' PtP~ ... - GERALD E DAHL, CITY ATTORNEY 1 st Publication September 29, 2005 2nd Publication October 13, 2005 Wheat Ridge Transcript Effective Date October 10, 2005 WRCA 026