HomeMy WebLinkAboutORDINANCE 1039-1985k- -1M, - ;-- -, +
1 / .. fi / .' •'1 '+ ti
Suggested by! Administration
CITY OF KENAI
ORDINANCE NO. 1039-85
AN ORDINANCE OF THE COUNCIL OF THE CITY OF KENAI, ALASKA,
AMENDING KENAI MUNICIPAL CODE 23.40.095 BY INCREASING THE CITY'S
PARTICIPATION IN A SUPPLEMENTAL RETIREMENT PROGRAM.
WHEREAS, the Council desires to increase the Supplemental
Retirement benefit for City employees by increasing the
percentage of City contribution from two percent (2%) of base
salary to four percent (4%) of base salary; and
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
KENAI, ALASKA, THAT:
Section 1:
Kenai Municipal Code 23.40.095 be amended as 'follows:
23.40.095 Supplemental Retirement: All permanent
employees 21 years of age or older with six months of
service regularly scheduled to work 15 hours or more per
week shall be eligible to participate in a supplemental
retirement program to be selected by the City Manager. The
City's contribution on behalf of each eligible employee
shall be [TWO] four percent [(2%)] of the first $37,500 of
base wages earned in a calendar year. The contribution
shall not apply to additional compensation to employees,
such as overtime pay, holiday pay, and qualification pay.
Section 2:
This Ordinance shall be elFective July 1, 1985.
PASSED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this 5th day
of June, 1985.
TOM WAGONER, MAYOR
fir•-�^-..-..--_.--....v_-�-�...--•r._- _,tea.-..�.___,.._..__. _ ___._..__.. __ __..___ _a, _ _-=.z__..___. _.�r—.-�__-r.__.___. ___ �-� �-_ P� �,.,r„�
` ATTEST:
f
Janet Whelan, City Clerk �
- � 1
First Reading: May 14, 1985
Second Reading: June 5, 1985
Effective DaLe: July 5, 1985
Approved by Finance: ca
1
f
j
e .
i
i
1
i
Fc
j:
s