An Ordinance providing for contributions to the Columbus, Georgia General Government Employees’ Pension Plan for the fiscal year beginning July 1, 2012; and for other purposes.
WHEREAS, Ordinances heretofore adopted by the Council of Columbus, Georgia provided for Governmental Contributions to the Employees’ Retirement Plan; and
WHEREAS, Actuarial Consultants have evaluated the Plan and the investment return of 7% annum thus determined that the amount of $ 12,103,455 is required to fund the Plan in the fiscal year beginning July 1, 2012. The amount to be prorated among the Consolidated Government of Columbus, Georgia, the Columbus Board of Water Commissioners, the Hospital Authority of Columbus, and the Columbus Airport Commission based on actual earnings of the active participants in the Plan for the previous fiscal year is as follows: Consolidated Government, 69.054% or $8,357,967; Columbus Board of Water Commissioners, 16.941% or $2,050,491; Hospital Authority of Columbus, 12.013% or $1,453,948 and Columbus Airport Commission, 1.992% or $241,049.
NOW THEREFORE THE COUNCIL OF COLUMBUS, GEORGIA HEREBY ORDAINS:
That the following named agencies shall make the following monthly contributions for fiscal year 2013 to the Finance Director of the Consolidated Government as their prorated share of the contributions, payable the first of each month:
Consolidated Government $696,497.25
Columbus Bd of Water Commissioners $170,874.25
Hospital Authority of Columbus $121,162.33
Columbus Airport Commission $ 20,087.42
That the named agencies above shall make monthly contributions for the fiscal year 2013 payable the first of each month equal to the member contributions as outlined in Section 3.04 of The Columbus, Georgia Pension Plan for General Government Employees.
Introduced at a regular meeting of the Council of Columbus, Georgia, held the 19th day of June, 2012; introduced a second time at a special meeting of said Council held on the _____ day of June, 2012, an adopted at said meeting by the affirmative vote of _____ members of said Council.
Councilor Allen Voting __________
Councilor Baker Voting __________
Councilor Barnes Voting __________
Councilor Davis Voting __________
Councilor Henderson Voting __________
Councilor Huff Voting __________
Councilor McDaniel Voting __________
Councilor Thomas Voting __________
Councilor Pugh Voting __________
Councilor Woodson Voting __________
Tiny B. Washington, Clerk Teresa Pike Tomlinson, Mayor