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INTRODUCED BY: M R• SN ARP ' DATE: July 14, 2014 <br /> BILL NO.: 9236 ORDINANCE NO.: 6966 <br /> AN ORDINANCE AMENDING SECTION 2.62.630 OF THE UNIVERSITY CITY <br /> MUNICIPAL CODE, RELATING TO THE POLICE AND FIREFIGHTERS' <br /> RETIREMENT SYSTEM — INVESTMENT ACCOUNTS, AND ENACTING IN <br /> LIEU THEREOF A REVISED SECTION TO BE KNOWN AS "SECTION 2.62.630 <br /> POLICE AND FIREFIGHTERS' RETIREMENT SYSTEM — INVESTMENT <br /> ACCOUNTS". THIS AMENDING WILL RESOLVE AMBIGUITIES IN THE <br /> LANGUAGE OF THIS SECTION TO REFLECT THE ORIGINAL INTENT AT <br /> THE 2001 TRANSITION TO A HYBRID RETIREMENT PLAN, TO GRANT <br /> VESTED PARTICIPANT EMPLOYED ON MAY 1, 2001(OR AS OTHERWISE <br /> PROVIDED FOR VESTED PARTICIPANTS REINSTATED AFTER SUCH DATE) <br /> THE OPTION TO REMAIN IN THE DEFINED BENEFIT PLAN OR TO <br /> TRANSFER TO THE HYBRID PLAN, AND TO PROVIDE THAT ALL <br /> PARTICIPANTS VESTED AFTER THAT DATE WOULD AUTOMATICALLY <br /> PARTICIPATE IN THE HYBRID PLAN UPON COMPLETING TEN YEARS OF <br /> VESTING SERVICE. <br /> BE IT ORDAINED BY THE COUNCIL OF THE CITY OF UNIVERSITY <br /> CITY, MISSOURI, AS FOLLOWS: <br /> Section 1. Section 2.62.630 of the University City Municipal Code, relating to the <br /> police and firefighter's retirement system, "Investment Accounts" is hereby amended, <br /> and a new section to be known as "Section 2.62.630 Police and firefighter's retirement <br /> system", as approved by the Pension Board on April 24, 2014 meeting. Attached is <br /> Exhibit A, reflect the alteration of the language and incorporated herein by reference, is <br /> enacted in lieu thereof. <br /> Section 2. This ordinance shall take effect and be in force from and after its passage <br /> as provided by law. <br /> PASSED and ADOPTED this 11th day of August, 2014. <br /> 440 )62t_' UAL/LP <br /> MAYOR---) <br /> i ���1 `•J••••• '• <br /> ti y <br /> ji <br /> • y� s <br /> ,,J�,Nu4eitflSti4lti <br />