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Minutes 06/12/1990
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Minutes 06/12/1990
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City Council
City Council - Type
Adopted Minutes
City Council - Date
6/12/1990
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as a mea <br /> <br />CO' <br /> <br />261 <br /> <br /> Jhne 12, 1990 _ <br /> <br /> TO ~PPROPRIATE $174~90~EROM Tc_~E ~C~AP~TAL <br /> FUND~TO PURCHASE A PIECiE OF~ EQ~IPMENT.~NOWN AS <br /> R EOR THE ~ORTSMOUTH FIRE ~DEPARTM~ENT.~-- <br /> Letter from the Interim City Manager r~o~mending <br /> ordinance to amend Chapter 30 of ~th~ ~od~ of the <br /> , Virginia, 1988, amending sections 38-32(d) <br />thereof, pertaining to Retiremen~t~ Sys~ms.~ , <br /> <br />ed on all available informationl, I continue~ tc be of the <br />hat the proposal which was submitted w~th my ~dget <br />atI~n for the Portsmouth Retirement F~n~s ~to~pay a <br />f the cost of w~k~rs compensation, is a viable course <br /> However, I have also. listened attentivel~ t~ the <br />~f so~e o~~ our employees and their ~egall-representatives <br /> to be.responsive ~to the eoncerns.~hi~ch h~ve~been <br />, I wish to offer an alternative proposal,for ~ne City <br /> consideration. I am offering this alternative proposal <br /> i~ will ~be mo~e acceptable ,to.th~se 3~k9 have <br /> about my original proposalJ, ~ f~e~ ~hat this <br /> also remove the legal quest~ions ~hiQ~ ~ere raise~ <br /> to my original proposal. ~· ~ ~ ~ <br /> <br /> like to pointl out that the legal issues that were <br /> _Df the nature of quest,ions only, an~ ~ot~o~ the nature <br />t~ve legal conclusions. The Honorable wil~ia~ S. Moore, <br />.ed in his letter, "that these are very complex and <br /> issues" and that, "t~ey raise complicated legal <br /> in several areas of l~w including~and not,limited to <br /> IRS Rules and Regulations and Municipal Law.[" Mr. <br />~arter, Esquire, commented.in his letter that~ ~in <br /> ~these issues it.shoutd~be kept in mind because of the <br /> of the Internal Revenue Code~ and par~ie~a~r~y so as <br /> benefits, [and] the lack of case law as to t~e <br /> [es~..it is many times very ~diffieult ~o arrive at <br /> answer as to the issues involved." Mr, Car~er also <br /> 'the possibility of an IRS ruling o~ de%ermination <br /> to arrive at a definitive legal conc~usion~- Even <br /> remain confident,that my original.~reposal wo~d be <br /> a permissible action, I believe that the time and <br /> ssociate~ with obtaining such a delfinitive legal res <br /> oide~ by-the altern~ative proposal.tha~ I~wil~ ~escribe <br /> <br />.ntially, my original proposal involved making payments <br /> '3Retirement Funds. (estimated at $700,~00~, for workers' <br /> <br />ion ben,fits). My alternative proposal involv <br />~ss mone~ into the Retirement Funds~ as opposed <br />~ of, the Retirement Funds. This al.ternative ~,r <br />~o tne course of action that was taken by the C <br />~ia in its decision not to pre-fund this year's <br />.lowances granted to retirees of theVirginia~ <br />The alternative recommendation that~I~wish to <br />'s consideration is for the employer ~ontrib <br /> tobe ~educed by eliminating the~ <br /> ~nsion increases which~have been approved by th <br /> ~o go into effect July 1, 1990. <br /> <br />~s the Cit <br />to, <br />)posal is <br /> <br /> cost of <br />~t i rement <br />)ffer for <br />ltions to <br />re-funding <br /> City <br /> <br /> <br />
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