Jackson County Missouri - File #: 3432

• File #: 3432
• Version: 0
• Name: Employees' Pension Plan
• Type: Ordinance
• Status: Passed
• File created: 10/27/2003
• In control: Finance and Audit Committee
• On agenda: 10/27/2003
• Final action: 11/3/2003
• Title: AN ORDINANCE repealing sections 1503.1, 1503.26, 1504., 1505., 1512., 1513., and 1550., Jackson County Code, 1984, relating to the Jackson County Employees' Pension Plan, and enacting, in lieu thereof, six new sections and three new subsections relating to the same subject.
• Sponsors: Dennis Waits, Fred Arbanas, Scott Burnett, Dan Tarwater III, Bob Spence, Ronald E. Finley
• Indexes: JACKSON COUNTY CODE, PENSION PLAN
• Related files: 5819

Date	Ver.	Action By	Action	Result
11/3/2003	0	Finance and Audit Committee
11/3/2003	0	County Legislature	Consent Agenda
11/3/2003	0	County Legislature	perfect	Pass
11/3/2003	0	County Legislature	suspend the rules to consider final passage	Pass
11/3/2003	0	County Legislature	adopt	Pass
10/28/2003	0	County Legislature	Go To 1st Perfection	Pass
10/27/2003	0	County Legislature	assign to committee

IN THE COUNTY LEGISLATURE OF JACKSON COUNTY, MISSOURI

Title
AN ORDINANCE repealing sections 1503.1, 1503.26, 1504., 1505., 1512., 1513., and 1550., Jackson County Code, 1984, relating to the Jackson County Employees' Pension Plan, and enacting, in lieu thereof, six new sections and three new subsections relating to the same subject.


Intro
ORDINANCE 3432, October 27, 2003

INTRODUCED BY Dennis Waits, Fred Arbanas, Scott Burnett, Dan Tarwater, Bob Spence and Ronald E. Finley, County Legislators

Body
WHEREAS, it is appropriate that the Jackson County Employees' Pension Plan be amended so as to provide a separate benefit structure for the County's elected officials; and,

WHEREAS, this amendment is in the best interests of the health, safety, and welfare of the citizens of Jackson County; now therefore,

BE IT ORDAINED by the County Legislature of Jackson County, Missouri, as follows:
Section A. Enacting Clause. Sections 1503.1, 1503.27, 1504., 1505., 1512., 1513., and 1550. are hereby repealed and six new sections and three new subsections enacted in lieu thereof, to be known as sections 1503.1, 1503.24, 1503.27, 1504., 1505., 1512., 1513., 1523., and 1550., to read as follows and with existing subsections of section 1503. to be renumbered accordingly:

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 calculated under Section 1512.1 but shall in no event be less than the amount calculated under section 1512.2 and if applicable, reduced by the amount under Section 1503.46.]
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 calculated under sectio...