Title
An Ordinance amending Section 6-49 of the Lexington-Fayette Urban County Code of Ordinances to revise the election procedure for retired members of the City Employees' Pension Fund Board of Trustees; to provide for special election procedures for retired members of the pension fund when one or more members fail to timely qualify for election during the regular election process or when a vacancy occurs; and to increase the number of Council members on the Board of Trustees from three to four. [Dept. of Law, Graham]
Summary
Authorization for approval of proposed amendments to section 6-49 of the Code of Ordinances to establish revised election procedures for retired employee members of the City Employee Pension Fund. Proposed amendments further add one additional Council member to the board to conform to statutory member requirements. (L0520-17) (Graham)
Budgetary Implications : NO
Advance Document Review:
Law: Yes, Completed by Roger Wright, 5/1/17
Risk Management: No
Fully Budgeted : N/A
Account Number:
This Fiscal Year Impact: $
Annual Impact: $
Project:
Activity:
Budget Reference:
Current Balance:
Body
Section 1 - That Section 6-49 of the Code of Ordinances be and hereby is amended to read as follows:
(a) The membership of the board of trustees of the pension fund shall consist of the Mayor, the commissioner of finance, the director of human resources, four (4) Council members subject to confirmation by a majority of the Council members, and three (3) retired members who shall be elected from the retirees of the fund. Members elected to the board of trustees shall hold their offices for a period of two (2) years and/or until their successors have been elected and qualified. The Mayor shall be chairman of the board. In addition thereto, but without having a vote on any question that comes before the board, the Council Clerk shall be ex officio secretary of the board. The commissioner of finance shall be ex officio treasurer of the board. Beg...
Click here for full text