HomeMy WebLinkAboutORD 7017 AMENDED 1987, 1977 GMEBS DEFINED BENEFIT PLANS
7017
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ORDINANCE NO.
AN ORDINANCE TO AMEND AND RESTATE THE MARCH 1, 1987 GMEBS DEFINED
BENEFIT RETIREMENT PLAN AND THE JANUARY 1, 1977 DEFINED BENEFIT
RETIREMENT PLAN FOR CERTAIN EMPLOYEES OF AUGUSTA-RICHMOND COUNTY,
GEORGIA (HEREINAFTER "AUGUSTA"), IN ACCORDANCE WITH AND SUBJECT TO
THE TERMS AND CONDITIONS SET FORTH IN THE ATTACHED ADOPTION
AGREEMENT AND ADDENDUM, THE GEORGIA MUNICIPAL BENEFIT SYSTEM (GMEBS)
MASTER PLAN DOCUMENT, AND THE GMEBS TRUST AGREEMENT, INCLUDING ANY
AMENDMENTS THERETO. WHEN ACCEPTED BY THE AUTHORIZED OFFICERS OF
THE AUGUSTA-RICHMOND COUNTY COMMISSION AND GMEBS, THE FOREGOING
SHALL CONSTITUTE A CONTRACT BETWEEN THE COMMISSION AND GMEBS, ALL AS
AUTHORIZED AND PROVIDED BY O.C.G.A. ~ 47-5-1 ET SEQ.
WHEREAS, the Augusta-Richmond County Commission, as the governing authority of
Augusta, Georgia, hereinafter referred to as the "Employer" wishes to reopen the "1977 Defined Benefit
Pension Plan" and merge the same with its GMEBS sponsored pension plan;
WHEREAS, the Augusta-Richmond County Commission initiated this process by Resolution
passed May 1, 2007;
THEREFORE, IT IS HEREBY ORDAINED;
SECTION 1
The March 1, 2987 GMEBS Defined Benefit Retirement Plan for certain Employees of Augusta, Georgia
(Ordinance No. 5399; as amended by Ga. Law 1988, page 5415; Ordinance No. 5561, effective April 2,
1990; and Ordinance No. 5865) and the January 1, 1977 Defined Benefit Retirement Plan and Trust for
certain employees of Augusta (Ordinance No. 6655; as amended by Ordinance No. 6983 adopted June 19,
2007) (hereinafter referred to as "1977 Defined Benefit Retirement Plan" or "1977 DB Plan" or "1977
Plan") are hereby amended and restated as set forth in and subject to the terms and conditions stated in the
following Adoption Agreement, the Addendum to the Adoption Agreement, the Georgia Municipal
Employees Benefit System (GMEBS) Master Plan Document, and the GMEBS Trust Agreement,
including any amendments thereto.
SECTION 2
That the duly authorized officials of Augusta including the Mayor or Mayor Pro Tern are hereby
authorized and directed to execute said plan and deliver to the Administrator of the Plan and counterparts
of the Plan and execute all documents necessary or convenient to the enactment of said plan effective
January 1, 2008.
Publish in the Augusta Chronicle January 10,: 200S'
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SECTION 3
That all ordinances or parts of ordinances thereof are hereby repealed.
Adopted this i't f'day of December, 2007.
cX.fxJ.
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David S. Cope
As its Mayor
Attest:
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. . 6f, Clerk of CommIssIOn
IU/-l,vc Y HOMblSk.I, PE:P,
Seal:
Second Reading Waived
CERTIFICATION
The undersigned Clerk of Commission, Lena J. Bonner, hereby certifies that the foregoing
Ordinance was duly adopted by the Augusta-Richmond County Commission on /r:2 -/5' - 0'7
2007 and that such Ordinance have not been modified or rescinded as of the date hereof and the
undersigned further certifies that attached hereto as Exhibit "A" is a true copy of the Plan which was
approved and adopted in the foregoing Ordinance.
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/LJ.JIJC y NDMuJJkl, OE'P.
Date: /rt2 - /?- 07
F:IUsersISShepardISTEVEIC1TY\Ordinance to Adopt Reopened 1977 Pension Plan 12 12 07,doc
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