HomeMy WebLinkAboutResolution No. 1984-43MiCRONUVED 4 -15 -85
RESOLUTION NO. 84 -43
A RESOLUTION AUTHORIZING PENSION PLAN
CONTRIBUTIONS TO PENCOA FOR FISCAL YEAR
1984 -85; PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Mutual of New York Pension Plan was terminated
as a rolled -over account and is now in separate accounts, and
WHEREAS, the City's PENCOA Plan has been filed to comply
with ERISA,
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Cape Canaveral, Florida, as follow:
SECTION 1. The City Council authorizes Pension Plan contributions
to PENCOA for the current Fiscal Year 1984 -85 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 18th day of September , 1984.
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