Legislature As A Whole
Substitute
July 24, 2006
IN THE COUNTY LEGISLATURE OF JACKSON COUNTY, MISSOURI
Title
AN ORDINANCE enacting a new section 1524., Jackson County Code, 1984, relating to the mandatory distributions from the Employees' Pension Plan.
Intro
ORDINANCE # 3788, July 10, 2006
INTRODUCED BY Scott Burnett, County Legislator
Body
WHEREAS, the County's retained special counsel who advises on the Employees' Pension Plan has recommended certain technical amendments to the Plan; and,
WHEREAS, these amendments are in the best interests of the health, welfare, and safety of the citizens of the County; now therefore,
BE IT ORDAINED by the County Legislature of Jackson County, Missouri, as follows:
Section A. Enacting Clause. Section 1524., Jackson County Code, 1984, is hereby enacted to read as follows:
1524. Mandatory Distributions.
Effective January 1, 2006, in the event of a mandatory distribution greater than $1,000 is made in accordance with the provisions of the Plan providing for an automatic distribution to a Member without the Member's consent, if the Member does not elect to have such distribution paid directly to an Eligible Retirement Plan specified by the Member in a direct rollover (in accordance with the direct rollover provisions of the Plan) or to receive the distribution directly, then the Trustee shall pay the distribution in a direct rollover to an individual retirement plan designated by the Trustee.
Enacted and Approved
Effective Date: This ordinance shall be effective immediately upon its signature by the County Executive.
APPROVED AS TO FORM:
_________________________ _______________________________
Chief Deputy County Counselor County Counselor
I hereby certify that the attached Ordinance, Ordinance # 3788 of July 10, 2006 was duly passed on _________________________, 2006 by the Jackson County Legislature. In the votes thereon were as follows:
Yeas _______________ Nays _______________
Abstaining ___________ Absents ____________
This Ordinance is hereby transmitted to the County Executive for her signature.
____________________ ________________________________
Date Mary Jo Spino, Clerk of Legislature
I hereby approve the attached Ordinance # 3788.
_________________ _________________________________
Date Katheryn J. Shields, County Executive