HomeMy WebLinkAboutResolution No. 1987-51 MICROFILMED JUNE 89
RESOLUTION NO. 87-51
A RESOLUTION AUTHORIZING PENSION PLAN
CONTRIBUTIONS TO PENCOA FOR FISCAL
YEAR 1987-88 ; PROVIDING AN EFFECTIVE
DATE.
WHEREAS , the City ' s PENCOA Pension 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 contri-
butions to PENCOA for the current Fiscal Year 1987-88 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 immediate-
ly upon its adoption.
ADOPTED by the City Council of the City of Cape Canaveral,
Florida this 15th day of September , 1987 .
�� _• , Mayor
ATPEtaT
XX14aA.) NAME YES NO
ty Clerk HOOD X
KIDD X
Approved as to Form: `EE X
MARCHETTI Absent
MURPHY X
A
ity Attcrnegle
RESOLUTION NO. 87-51
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