City of Baltimore - File #: 16-0740

• File #: 16-0740
• Version: 0
• Name: Employees’ Retirement System and Elected Officials’ Retirement System - Clarifications and Modifications
• Type: Ordinance
• Status: Enacted
• File created: 9/12/2016
• In control: City Council
• Final action: 11/18/2016
• Enactment #: 16-576
• Title: Employees’ Retirement System and Elected Officials’ Retirement System - Clarifications and Modifications For the purpose of changing the composition of the Board of Trustees of the Employees’ and Elected Officials’ Retirement Systems; clarifying certain provisions of the Employees’ Retirement System relating to optional forms of payment; modifying certain provisions of the Elected Officials’ Retirement System relating to eligibility for service retirement benefits and deferred vested benefits, the amount of the service retirement benefit, and post-retirement benefit increases; correcting, clarifying, and conforming related provisions; setting a special effective date; and generally relating to the Employees’ Retirement System and the Elected Officials’ Retirement System.
• Sponsors: City Council President (Administration)
• Indexes: Clarification, Elected Officials, Employees Retirement System, Modifications, Retirement Systems

Date	Ver.	Action By	Action	Result
12/5/2016	0	Mayor	Signed by Mayor
11/14/2016	0	City Council	Approved and Sent to the Mayor
10/24/2016	0	City Council	3rd Reader, for final passage
10/20/2016	0	City Council	Held for 1 meeting
10/20/2016	0	Judiciary and Legislative Investigations	Recommended Favorably with Amendment
10/11/2016	0	Judiciary and Legislative Investigations	Recommended Favorably with Amendment	Pass
9/27/2016	0	Judiciary and Legislative Investigations	Scheduled for a Public Hearing
9/27/2016	0	Judiciary and Legislative Investigations
9/15/2016	0	The City Council	Refer to Dept. of Finance
9/15/2016	0	The City Council	Refer to City Solicitor
9/15/2016	0	The City Council	Refer to Employees' Retirement System
9/15/2016	0	The City Council	Refer to Employees' and Elected Officials' Retirement Systems
9/12/2016	0	City Council	Assigned
9/12/2016	0	City Council	Introduced
9/12/2016	0	Judiciary and Legislative Investigations	Scheduled for a Public Hearing

Introduced by: The Council President
At the request of: The Administration (Employees’ and Elected Officials’ Retirement Systems)


A Bill Entitled

An Ordinance concerning
title
Employees’ Retirement System and Elected Officials’ Retirement System - Clarifications and Modifications
For the purpose of changing the composition of the Board of Trustees of the Employees’ and Elected Officials’ Retirement Systems; clarifying certain provisions of the Employees’ Retirement System relating to optional forms of payment; modifying certain provisions of the Elected Officials’ Retirement System relating to eligibility for service retirement benefits and deferred vested benefits, the amount of the service retirement benefit, and post-retirement benefit increases; correcting, clarifying, and conforming related provisions; setting a special effective date; and generally relating to the Employees’ Retirement System and the Elected Officials’ Retirement System.
body

By repealing and reordaining, with amendments
Article 22 - Retirement Systems
Section(s) 5(b), 9(m)(2)(ii), 9.2(k)(2)(ii), 17A(9), 19, and 22(a), (d), and (e)(2)(ii)
Baltimore City Code
(Edition 2000)

BY repealing
Article 22 - Retirement Systems
Sections 17A(17) and (22) and 24(d)
Baltimore City Code
(Edition 2000)

BY adding
Article 22 - Retirement Systems
Sections 1(31), 17A(24), and 27
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

Subtitle - Employees’ Retirement System

§ 1. Definitions.

(31) Present value.

“Present value” means the amount determined using:

(i) regular interest for valuation purposes under paragr...