City of Baltimore - File #: 12-0031

• File #: 12-0031
• Version: 0
• Name: Employees’ and Elected Officials’ Retirement Systems - Modifications
• Type: Ordinance
• Status: Enacted
• File created: 2/27/2012
• In control: City Council
• Final action: 6/26/2012
• Enactment #: 12-44
• Title: Employees’ and Elected Officials’ Retirement Systems - Modifications FOR the purpose of updating the regular interest and other economic assumptions used to evaluate benefits under and the level of City funding for the Employees’ and Elected Officials’ Retirement Systems; modifying certain provisions relating to the method of financing the Elected Officials’ Retirement System; removing the separate account structure for retiree and active funds of the Elected Officials’ Retirement System; reducing prospectively the rate of interest credited on member contributions; repealing certain obsolete restrictions on investments by the Employees’ Retirement System and the Elected Officials’ Retirement System; modifying time periods within which members of the Employees’ and Elected Officials’ Retirement Systems must apply for retirement; repealing an obsolete time limit for Trustees to take their oaths of office; correcting, conforming, and clarifying related provisions; and providing for a s...
• Sponsors: City Council President (Administration)
• Indexes: Elected Officials, Employees Retirement System, Modifications, Retirement

Date	Ver.	Action By	Action	Result
6/26/2012	0	Mayor	Signed by Mayor
6/25/2012	0	City Council	Approved and Sent to the Mayor
6/18/2012	0	City Council	Advanced to 3rd Rdr., Adopted Comm. Report
6/18/2012	0	Taxation, Finance and Economic Development Committee	Recommended Favorably with Amendment
5/7/2012	0	Taxation, Finance and Economic Development Committee	Scheduled for a Public Hearing
3/1/2012	0	The City Council	Referred for a Report
3/1/2012	0	The City Council	Referred for a Report
3/1/2012	0	The City Council	Referred for a Report
3/1/2012	0	The City Council	Referred for a Report
2/27/2012	0	City Council	Introduced
2/27/2012	0	City Council	Assigned

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 (Employees’ and Elected Officials’ Retirement Systems)


A BILL ENTITLED

AN ORDINANCE concerning
title
Employees’ and Elected Officials’ Retirement Systems - Modifications

FOR the purpose of updating the regular interest and other economic assumptions used to evaluate benefits under and the level of City funding for the Employees’ and Elected Officials’ Retirement Systems; modifying certain provisions relating to the method of financing the Elected Officials’ Retirement System; removing the separate account structure for retiree and active funds of the Elected Officials’ Retirement System; reducing prospectively the rate of interest credited on member contributions; repealing certain obsolete restrictions on investments by the Employees’ Retirement System and the Elected Officials’ Retirement System; modifying time periods within which members of the Employees’ and Elected Officials’ Retirement Systems must apply for retirement; repealing an obsolete time limit for Trustees to take their oaths of office; correcting, conforming, and clarifying related provisions; and providing for a special effective date.
body

BY repealing and reordaining, with amendments
Article 22 - Retirement Systems
Section(s) 1(9), 5(e), 6(a)(1st par.), 9(e)(intro), 17A(7), (8), and (12), 20(a)(2)(i),
22(a)(2) and (d)(2), and 24
Baltimore City Code
(Edition 2000)

BY repealing
Arti...