HomeMy WebLinkAbout90-6-4438=1
Iq
ORDINANCE NO. 90-6-4438
AN ORDINANCE AUTHORIZING THE CITY TREASURER TO PAY
$4,257.78 TO THE KENTUCKY STATE TREASURER FOR THE ADDITIONAL
COST OF TRANSFERRING HAZARDOUS DUTY EMPLOYEES TO COUNTY
EMPLOYEES RETIREMENT SYSTEM
WHEREAS, the City of Paducah has adopted an
ordinance allowing hazardous duty employees employed prior
to August 1, 1988, to elect to transfer their retirement
benefits to the County Employees Retirement System; and
WHEREAS, under state law the city must pay past
service credit for employees transferring to the County
Employees Retirement System on behalf of the employees; and
WHEREAS, in transferring the employees to the
County Employees Retirement System the city failed to report
prior service credit for Thomas J. Rothrock; and
WHEREAS, an actuarial study has been performed
which determined an additional payment is due for prior
service credit on Thomas J. Rothrock; and
WHEREAS, the annual payment required of the city
for prior service for hazardous duty employees has been
changed from $391,121.00 to $393,249.89 retroactive to
August 1, 1988.
BE IT ORDAINED BY THE CITY OF. PADUCAH, KENTUCKY:
SECTION 1.
The City Treasurer is authorized to
pay to the Kentucky State Treasurer the sum of $4,257.78,
which represents the additional amount due for payments made
on August 1, 1988, to August 1, 1989, and the annual sum of
$393,249.89.
SECTION 2. This payment is being made from the
General Fund and charged to Account No. 10-500-220-197.
SECTION 3. In order to avoid interest payment to
the Commonwealth of Kentucky, an emergency is hereby
declared to exist and this ordinance shall become effective
with one reading.
951
SECTION 4.
This ordinance shall be published by
summary, according to law.
GERRY B. MONTGOMERY
Mayor
Introduced by the Board of Commissioners May 22, 1990
Adopted by the Board of Commissioners June 12, 1990
Recorded by Lenita Smith, City Clerk, June 12, 1990
Published by The Paducah Sun June 18, 1990.
ord/cers