HomeMy WebLinkAbout99-5-6048ORDINANCE NO. 99-5-6048
AN ORDINANCE AMENDING SECTION 35.62(7) OF SECTION
35.62, PENSION FUND (CIVIL SERVICE) OF THE CODE OF ORDINANCES OF
THE CITY OF PADUCAH, KENTUCKY
WHEREAS, the City of Paducah has enrolled most current employees of
the City who are under civil service into the Kentucky County Employee Retirement
System; and
WHEREAS, benefits provided for under the Appointive Employees'
Pension Fund were adjusted on January 1, 1998; and
WHEREAS, the Board of Commissioners obtained an actuarial study of
the Appointive Employees' Pension Fund and finds that it is of sufficient size to allow an
increase in benefits, effective January 1, 1999.
BE IT ORDAINED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. That Section 35.62(7), Pension Fund, is hereby amended to
read as follows:
"Effective January 1, +999, 1999, all persons receiving a pension under
Divisions (H) and (I) shall receive a one-time increase of ten penent "^0l-' one and
seven -tenths percent (1.7%) in the amount of their pensions. Divisions (H) and (1)
notwithstanding, a minimum of $353.43 $359.44 per month is hereby established for all
?) retired members and legally married spouses of retired members."
SECTION 2. This ordinance shall be read on two separate days and will
become effective upon summary publication pursuant to KRS Chapter 424.
May
ATTEST:
ot.J G�7e��i
City lerk
Introduced by the Board of Commissioners April 27, 1999
Adopted by the Board of Commissioners May 25, 1999
Recorded by Lenita Smith, City Clerk, May 25, 1999
Published by The Paducah Sun June 1, 1999
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