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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. 41 O o U H O N W1-4 U W '- z C a v