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RESOLUTION: 2008-18
SUBJECT: City of Lakewood Police Money Purchase Pension Plan and Trust Agreement.
ADDRESS: 480 South Allison Parkway, Lakewood, Colorado 80226
RECOMMENDATION: City Council approve and adopt by resolution the amendments to the City of Lakewood Police Money Purchase Pension Plan and Trust Agreement to establish a 401(h) Retiree Medical Benefits plan as part of the pension plans.
FUNDING SOURCE: N/A
SUMMARY AND BACKGROUND OF SUBJECT MATTER: The Board of the City of Lakewood Police Money Purchase Pension Plan and Trust Agreement has approved the establishment of a 401(h) Retiree Medical Benefits plan as part of the pension plans. This provision allows employees to make contributions on a pre-tax basis to an account to be used for medical expenses upon retirement. The resolution will be implemented once approval has been obtained from the Internal Revenue Service and an affirmative vote has been obtained by 65% of the members.
RESOLUTION ADOPTION DATE: January 14, 2008
ORIGINATED BY: Ken Milano, Director of Employee Relations
STAFF PERSON RESPONSIBLE: Ken Milano, Director of Employee Relations, 303-987-7701
DOCUMENTS ATTACHED: Resolution
2008-18
Redline Version
Final Version
SUBMITTED BY:
Ken Milano, Director of Employee Relations
REVIEWED BY:
Joni Inman, Director, Mayor's and City Manager's Office
Michael J. Rock, City Manager
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