HomeMy WebLinkAboutResolution No. 1983-851141CROF1LC YED 4,15
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RESOLUTION NO. 83 -85
A RESOLUTION AMENDING RESOLUTION NO. 83 -78;
AUTHORIZING PENSION PLAN CONTRIBUTIONS TO
PENCOA FOR FISCAL YEAR 1983 -84; PROVIDING
AN EFFECTIVE DATE.
WHEREAS, the City Council has authorized pension plan con-
tributions to PENCOA for Fiscal Year 1983 -84 at the rate of
6% up to $12,000 annual income and an additional 5.6% over $12,000
annual income, and
WHEREAS, the City has been notified by PENCOA that the con-
tribution formula requires modification,
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Cape Canaveral, Florida as follows:
SECTION 1. The City Council authorizes Pension Plan contribu-
tions to PENCOA for the current Fiscal Year 1983 -84 at the rate of
6% up to $12,000 annual income and an additional 5.7% over $12,000
annual income which will be funded in the same manner as a fringe
benefit for eligible City employees.
SECTION 2. This Resolution shall become effective immediately
upon its adoption.
ADOPTED by the City Council of the City of Cape Canaveral,
Florida this 15th day of
ra
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Att;t :
r
Ci," Ierk
114" Cot,
Approved as to form:
November , 1983.
Calvert
Fischetti
Nicholas
Rutherford
Winchester
Yes No
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