Title
An Ordinance amending Chapter 50 of the Code of the City of Coral Gables, entitled “Pensions,” amending Section 50-29, City Contributions.
Body
On June 24, 2014, the City of Coral Gables (“City”) and the Teamsters, Local Union 769 (“Teamsters”) entered into a collective bargaining agreement for the period of October 1, 2013 through September 30, 2015 (“CBA”).
Article 34 of the CBA provides for cost-sharing of employee contribution in accordance with the actuarial report. Currently, Teamsters bargaining unit members have a 15% employee contribution up until September 30, 2015. Effective October 1, 2015, in accordance with the actuarial report, Teamsters’ contribution will increase to 26.42%.
Pursuant to the Memorandum of Understanding entered into between the City and the Teamsters, this Ordinance will maintain the Teamsters’ employee contribution at 15% until September 30, 2016.