Title
AN ORDINANCE AMENDING ORDINANCE 1845 OF THE CITY OF COMMERCE CITY REGARDING DELEGATION OF AUTHORITY BY THE CITY COUNCIL TO THE COMMERCE CITY POLICE PENSION BOARD
Body
Summary and Background Information:
• The City Council established the Police Pension Board by Ordinance 1845.
• Ordinance 1845 provides for the adoption of a defined contribution pension benefit plan to provide retirement benefits to eligible, commissioned police officers of Commerce City.
• Occasionally the Police Pension Plan must be amended in order to comply with federal or state laws and regulations.
• Ordinance 1845 requires that amendments to the Plan must be approved by the City Council as well as the officers.
• The Police Pension Board is composed of one retired police officer, two active duty officers, the finane director, a representative from the city manager's office and one council member.
• The Police Pension Board recommends that Ordinance 1845 be amended to provide that amendments to the Police Pension Plan no longer will require approval by the City Council.
Staff Responsible (Department Head): Finance Director Roger Tinklenberg
Staff Member Presenting: Finance Director Roger Tinklenberg
Financial Impact: $None
Funding Source: n/a
Suggested Motion: I move to introduce Ordinance 1995 by Council as seated and approve the ordinance on first reading.