HomeMy WebLinkAboutCounty Employee Retirement System (CERS)247
RESOLUTION
OF THE BOARD OF COMMISSIONERS
OF THE CITY OF PADUCAH, KENTUCKY
WHEREAS, the City of Paducah is a member of the County Employee
~ Retirement System (CERS), a defined benefit retirement plan. CERS is administered by
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the State of Kentucky, and
WHEREAS, the cost to the City of Paducah for CERS payments have
risen 73.3% for hazardous duty employees and 108% for non-hazardous duty employees
over the last four years, and
WHEREAS, the cost of providing a retirement plan for our employees has
risen from $1.4 million in 2003 to in excess of $3.0 million in 2007, and
WHEREAS, for every dollar spent on wages and employee benefit
programs in 2003, 7.6 cents was paid to CERS, the CERS cost has risen to 11.5 cents in
2006, and
WHEREAS, the City of Paducah's ability to continue to provide all the
municipal services expected of a 2"a class city is becoming more challenging than ever
before, and
WHEREAS, the City of Paducah does hereby urge the members of the Kentucky
General Assembly to address the spiraling cost of funding the CERS in the current session.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF
COMMISSIONERS OF THE CITY OF PADUCAH, KENTUCKY:
That the City of Paducah supports the Kentucky General Assembly in
addressing the spiraling cost of the County Employee Retirement System (CERS) to local
government.
ATTEST:
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~`~ ~ Tammara S. Brock, City Clerk
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Adopted by the Board of Commissioners February 14, 2006
Recorded by Tammara S. Brock, City Clerk, February 14, 2006