HomeMy WebLinkAbout2019-06-10 19-239 Order
06/10/201919-239
06/10/2019
19-239
Human Resources
Order
N/A
Title, Order
Authorizing the City Manager to Execute an Addendum to the Current ICMA-RC 401(a) Direct Contribution
Retirement Plan for the Firefighter, Police Patrol, Police Command, and Applicable Police and Fire
Administration
This Order authorizes the City Manager to execute an addendum to the current ICMA-RC 401(a)
Direct Contribution Retirement Plan number 107798 for the Firefighter, Police Patrol, Police
Command, and Applicable Police and Fire Administration, effective July 1, 2019. This addendum will
allow for the employer contributions to the 401(a) plan to increase, matching the required
contribution levels established by the Maine State Retirement Special Plan 2C.
Recommend for passage
Consent
06/10/201919-239
CITY OF BANGOR ORDER
06/10/2019
19-239
Sprague
Authorizing the City Manager to Execute an Addendum to the Current ICMA-RC 401(a) Direct Contribution
Retirement Plan for the Firefighter, Police Patrol, Police Command, and Applicable Police and Fire
Administration
Whereas; the Maine State Retirement Special Plan 2C increased the employers contribution from 10.5% to
10.6%, effective July 1, 2019, and
Whereas; in order to offer both the ICMA-RC 401(a) Plan and the Maine State Retirement Special Plan 2C to
the Firefighter, Police Patrol, Police Command, and Applicable Police and Fire Administration employees, the
employer and employee contribution rate must be equal to those required by the Maine State Retirement
System, and
Whereas; the employer contribution for the ICMA-RC Plan number 107798 will remain at the current level for
all other employees of the city,
Be it Ordered by the City Council of the City of Bangor that, the City Manager is authorized to execute an
addendum to the current ICMA-RC 401(a) Direct Contribution Retirement Plan number 107798.
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