HomeMy WebLinkAboutResolution No. 1986-63i
MICROFILMED AUG 87
RESOLUTION NO. 86 -63
A RESOLUTION AUTHORIZING PENSION PLAN
CONTRIBUTIONS TO PENCOA FOR FISCAL YEAR
1986 -87; 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 follows:
SECTION 1. The City Council authorizes Pension Plan
contributions to PENCOA for the current Fiscal Year 1986 -87 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 16th day of September , 1986.
ATTEST:
Mayor Pro Tem
NAME IYESINO
CA/ty Clerk FISCHETTI X
KIDD X
LEE Ab ea
Approved as to Form: MARCHETTI X
NICHOLAS X
City Att o nl