Jackson County Missouri - File #: 3799

• File #: 3799
• Version: 0
• Name: Employee Pension Plan.
• Type: Ordinance
• Status: Passed
• File created: 8/14/2006
• In control: Finance and Audit Committee
• On agenda: 8/14/2006
• Final action: 8/21/2006
• Title: AN ORDINANCE repealing section 1523., Jackson County Code, 1984, relating to the Employees' Pension Plan, and enacting, in lieu thereof, one new section relating to the same subject.
• Sponsors: Dennis Waits
• Indexes: JACKSON COUNTY CODE, PENSION PLAN

Date	Ver.	Action By	Action	Result
8/21/2006	0	Finance and Audit Committee
8/21/2006	0	County Legislature	Consent Agenda
8/21/2006	0	County Legislature	perfect	Pass
8/21/2006	0	County Legislature	suspend the rules to consider final passage	Pass
8/21/2006	0	County Legislature	adopt	Pass
8/15/2006	0	County Legislature	Go To 1st Perfection	Pass
8/14/2006	0	County Legislature	assign to committee

§IN THE COUNTY LEGISLATURE OF JACKSON COUNTY, MISSOURI

Title
AN ORDINANCE repealing section 1523., Jackson County Code, 1984, relating to the Employees' Pension Plan, and enacting, in lieu thereof, one new section relating to the same subject.


Intro
ORDINANCE # 3799, August 14, 2006

INTRODUCED BY Dennis Waits, County Legislator



Body
BE IT ORDAINED by the County Legislature of Jackson County, Missouri, as follows:

Section A. Enacting Clause. Sections 1523., Jackson County Code, 1984, relating to the Employees' Pension Plan, is hereby repealed, and one new section enacted in lieu thereof, to be known as sections 1523., to read as follows:

1523. Purchase of Prior Service Credit.

Those Elected Officials who are in office as of [January 1, 2004] August 31, 2006, may make a one-time irrevocable election to purchase Credited Service for purposes of calculating the Elected Official's Monthly Pension Income under section 1512.3, under the circumstances, terms and conditions provided in this section. The purchase of Credited Service may be made with either pre-tax contributions, such as rollover contributions or plan-to-plan transfers from other retirement arrangements qualified under sections 401(a), 403(a), 403(b), 457(b) or 408 of the Internal Revenue Code, or with after-tax amounts. Any Elected Official who elects to purchase Credited Service under this section may elect to purchase prior service with the employer. The election must be made no later than [June 1, 2005] September 30, 2006, and must be effected by paying to the Plan the amount the Elected Official would have contributed under section 1505.1 had such member been an employee for the number of years for which the member is purchasing credit, and had the Elected Official's compensation during such period been the same as the Elected Official's annual salary as of [December 31, 2003] August 31, 2006. However, the amount paid to purchase additional credit will...