Title
An Ordinance creating Subsection 6-53(b)(6) of the Code of Ordinances relating to Pensions - other than Police and Firemen, specifically, pensions on retirement, to provide for an increase of four percent (4%) to each retiree’s base annuity or the annuity paid to the retiree’s widow or dependent children, effective January 1, 2022. [Office of the Council Clerk, Allan]
Summary
Authorization for an increase of four percent (4%) to each retiree’s base annuity or the annuity paid to the retiree’s widow or dependent children, effective January 1, 2022. Funds are Budgeted. (L1169-21) (Allen/Hamilton)
Budgetary Implications [select]: Yes
Advance Document Review:
Law: { Select Yes/No, Completed by [Michael Cravens, 11/5/2021]}
Risk Management: {Select Yes/No, Completed by [Official, Date]}
Fully Budgeted [select]: Yes
Account Number: 5002-505004-0001-6XXXX
This Fiscal Year Impact: $
Annual Impact: $
Project:
Activity:
Budget Reference:
Current Balance:
Body
BE IT ORDAINED BY THE COUNCIL OF THE LEXINGTON-FAYETTE URBAN COUNTY GOVERNMENT:
Section 1 - That Subsection 6-53(b)(6) of the Code of Ordinances of the Lexington-Fayette Urban County Government be and hereby is created to read as follows:
(6) In the first pay period following January 1, 2022, all persons receiving a pension benefit shall receive an increase of four percent (4%) to the base amount of their pension benefit.
Section 2 - That this Ordinance shall become effective on the date of its passage.
PASSED URBAN COUNTY COUNCIL:
____________________________
MAYOR
ATTEST:
________________________________
CLERK OF URBAN COUNTY COUNCIL
PUBLISHED:
1169-21:MSC:X:\CASES\PFRF\21-LE0001\LEG\00743172.DOCX