DATE: September 20, 2016
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Russell Truell, Assistant City Administrator
Shirley Gower, Human Resources Manager
SUBJECT:
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Consideration of Resolution 2016-63, a Resolution adopting Pension Plan Amendment #5, an Amendment to Expand the Incumbency Rules of the Pension Committee. (09-27-16 WS)
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Purpose
The purpose of this memorandum is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning an expansion of the Plan rules to include a process for replacing or filling a vacancy of employee-elected representatives on the Pension Committee.
Background
Several years ago, the Pension Plan was amended to define the term of employee-elected representatives. That term was established for four years. Once the term was established, however, no rules were established concerning the removal of an employee representative for lack of attendance or for cases where an elected employee representative leaves employment with the City during their term.
The proposed amendment creates attendance rules and stipulates the process for replacement of employee representatives.
The Pension Committee unanimously recommended the amendment for approval by the Board of Mayor and Aldermen.
Financial Impact
There is no direct financial impact.
Recommendation
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Staff recommends approval of the amendment.