City of Coral Gables

File #: 14-3139    Version: 1 Name: Teamsters Pension Ordinance June 2014
Type: Ordinance Status: Adopted
File created: 6/4/2014 In control: City Commission
On agenda: 7/22/2014 Final action: 7/22/2014
Enactment date: 7/22/2014 Enactment #: 2014-13
Title: An Ordinance amending chapter 50 of the “Code of the City of Coral Gables,” entitled, “Pensions”; amending section 50-29, City contributions; providing for repealer, codification, and an effective date. (Passed on First Reading June 10, 2014)
Attachments: 1. Signed Ordinance 2014-13, 2. E-2 Signed Cover Memo, 3. E-9 Signed Cover Memo, 4. CG Gen Pension Ordinance 2015 teamsters cost sharing 6 2 14, 5. 2014-2015 COVER SHEET Pension Ordinance, 6. Verbatim Transcript - CCMtg June 10 2014 - Agenda Item E-9 - Ordinance amending Chapter 50 of the CG Code entitled Pensions section 50-29, 7. Verbatim Transcript - CCMtg July 22 2014 - Agenda Item E-2 - Ordinance amending chapter 50 entitled Pensions
Title
An Ordinance amending chapter 50 of the "Code of the City of Coral Gables," entitled, "Pensions"; amending section 50-29, City contributions; providing for repealer, codification, and an effective date.  (Passed on First Reading June 10, 2014)
Body
Under the current cost-sharing provisions of the City of Coral Gables Retirement System, employees who are represented by the Teamsters Local Union Number 769 would be required to contribute 24.56% of total earnings into the System effective October 1, 2014. This Ordinance reduces the required employee contributions for Teamsters to 15% of total earnings beginning September 30, 2014 for a period not to exceed one (1) year.