Finance and Audit
Committee Substitute
February 9, 2009
IN THE COUNTY LEGISLATURE OF JACKSON COUNTY, MISSOURI
Title
AN ORDINANCE repealing sections 1503., 1540., 1541., 1542., 1543., 1544., 1545., 1546., 1550., 1551., 1552., 1560., 1561., 1562., 1563., and 1588., Jackson County Code, 1984, relating to the County Employees' Revised Pension Plan, and enacting, in lieu thereof, ten new sections relating to the same subject, with a transition provision.
Intro
ORDINANCE #4083, February 2, 2009
INTRODUCED BY Scott Burnett, County Legislator
Body
WHEREAS, the Legislature wishes to clarify the duties and responsibilities of the parties involved in governing the Jackson County, Missouri Employees' Revised Pension Plan; and,
WHEREAS, the adoption of an amendment codifying the necessary clarifications is in the best interest of the County employees participating in the Plan; and,
WHEREAS, the adoption of this amendment will more closely align the Plan with the best practices followed by other public employee pension plans; now therefore,
BE IT ORDAINED by the County Legislature of Jackson County, Missouri, as follows:
Section A. Enacting Clause. Sections 1503., 1540., 1541., 1542., 1543., 1544., 1545., 1546., 1550., 1551., 1552., 1560., 1561., 1562., 1563., and 1588., Jackson County Code, 1984, are hereby repealed and ten new sections enacted in lieu thereof, to be known as sections 1503., 1540., 1541., 1542., 1543., 1546., 1550., 1552., 1561., and 1597., to read as follows:
1503. Pension Plan, Definitions.
As used herein, the following words and phrases shall have the meanings specified below, unless a different meaning is plainly required by the context, viz.:
1503.1 Accrued Benefit.
The term "Accrued Benefit" shall mean the Monthly Pension Income that a Member has "accrued" as of any date payable in the basic form commencing on his Normal Retirement Date. The "Accrued Benefit" as of any date shall be equal to the amount calcul...
Click here for full text