Explanation: Capitals indicate matter added to existing law.
[Brackets] indicate matter deleted from existing law.
* Warning: This is an unofficial, introductory copy of the bill.
The official copy considered by the City Council is the first reader copy.
Introductory*
City of Baltimore
Council Bill
Introduced by: The Council President
At the request of: The Administration (Fire and Police Employees’ Retirement System)
A Bill Entitled
An Ordinance concerning
title
Fire and Police Employees’ Retirement System - Technical Amendments
For the purpose of amending provisions of the Fire and Police Employees’ Retirement System law pertaining to the definition of regular interest for valuation purposes; providing for a special effective date; and generally relating to the Fire and Police Employees’ Retirement System of the City of Baltimore.
body
By repealing and re-ordaining, with amendments,
Article 22 - Retirement Systems
Section 30(9)
Baltimore City Code
(Edition 2000)
Section 1. Be it ordained by the Mayor and City Council of Baltimore, That the Laws of Baltimore City read as follows:
Baltimore City Code
Article 22. Retirement Systems
Fire and Police Employees’ Retirement System
§ 30. Definitions.
In this subtitle, unless a different meaning is plainly required by the context, the following words and phrases have the meanings indicated:
. . .
(9) “Regular interest” means interest compounded annually for the reserves and items listed at the following rates:
(i) the Annuity Savings Reserve: 3.0%.
(ii) for valuation purposes: [7.25%]
(A) for determining system funding
contributions to be made by the
City o...
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