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16-0634
| 0 | | Employees' Retirement System and Elected Officials' Retirement System - Actuarial Assumptions; Benefit Payments - Clarifications and Modifications | Ordinance | Employees' Retirement System and Elected Officials' Retirement System - Actuarial Assumptions; Benefit Payments - Clarifications and Modifications
FOR the purpose of modifying the definitions of "employee", "regular interest" (for valuation purposes), and "actuarial equivalent"; changing the frequency of actuarial experience studies; clarifying the Board of Trustees' authority over System staff hiring and compensation; providing for distribution of accumulated contributions; changing eligibility for death benefits payable to surviving spouses and minor children; amending certain provisions to reflect current administrative practices; correcting, clarifying, and conforming related provisions; providing for a special effective date; and generally relating to the Employees' Retirement System and the Elected Officials' Retirement System. | Recommended Favorably with Amendment | Pass |
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