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HomeMy WebLinkAbout1983-33 Adopting the Plan Document for the Town of Vail Employees Pension Plan, Adopting a Trust Agreement Pursuant to the Town of Vail Employees Pension Plan,~ ORDINANCR #33 (Series of I.983) AN ORDINANCE ADOPTING THE PLAN DOCUMENT FOR THE TOWN OF VATL EMPLOYEES PENSION PLAN, ADOPTING A TRUST AGREEMENT PURSUANT TO THE TOWN OF VATL EMPLOYEES PENSION PLAN AND AUTHORIZING THE TOWN MANAGER TO APPOINT QUALIFIED INDIVIDUALS TO SERVE AS ADMIN- ISTRATORS FOR THE TOWN OF VAIL EMPLOYEES PENSION PLAN, AND SETTING FORTH DETAILS IN RIJLATION THERETO. WHEREAS, pursuant to Ordinance #36, Series of 1982, the Town withdrew Social Security coverage from the employees and o.I:Cicers of the Town; and WIiEREAS, the Town has adopted an Employees' Pension Plan, the ef:~eutive date of which was January 1, 1983, as a substitute for Social Security coverage and the 19'72 Town of Vail Pension Plan, to benefit the employees and officers of the Town; and WIIEREAS, the Town Council wishes to adopt the plan document setting forth the details of such pension plan, a copy of which is attached to this ordinance; and WIIERT;AS, the Town Council wishes to authorize the Town Manager to appoint qualified administrators for said pension plan; and WHEREAS, Town Council washes to adopt a trust agreement, a copy o:~ which is attached to this ordinance, to set forth the duties and obligations of the trustees named therein in regard to said pension plan. NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO, AS FOLLOWS: Section 1. The Employees Pension Plan document which is attached to this ordinance is hereby adopted by the Town Council of the Town of Vail. Section 2. The trust agreement attached to this ordinance pursuant to the Town of Vail Employees Pension Plan is hereby adopted by the Town Council. of the Town of Vail. Section 3. The Town Council hereby authorizes the Town Manager to appoint qualified individuals as administrators of the Town of Vail Employees Pension Plan. Section d. AI1. previous actions of the trustees of the Town oC Vtcil Employees Pension Plan by furtherance of the pension plan ~ ~ ~ -2- and not in violation of the trust agreement attached hereto are hereby ratified by the Tawn Council. Section 5 If any part, section, subsection, sentence, clause or phrase of this ordinance is far any reason held to be invalid, such decision shall not effect the validity of the remaining portions of this ordinance; and the Town Council hereby declares it would have passed this ordinance, and each part, section, subsection, sentence, clause or phrase thereof, regardless of the fact that any one or more parts, sections, subsections, sentences, clauses or phrases be declared invalid. Section 6 The Town Council hereby finds, determines and declares that this ordinance is necessary and proper far the health, safety and welfare of the Town of Vail and the inhabitants thereof. Section ? The r.epeai or the repeal and reenactment of any provision of the Vail Municipal Code as provided in this ordinance shall not af:Eect any right which has accrued, any duty imposed, any violation that occurred prior to the effective date hereof, any prosecution commenced, nor any other action or proceeding as commenced under or by virtue of the provision repealed or repealed or reenacted. The repeal of any provision hereby shall not revive any provision or any ordinance pr~;viously repealed or superseded unless expressly stated herein. INTI~,ODL]Ci;D, READ AND PASSED ON FIRST READING THIS (p~ day of ~ ~~/t~1V~/ 1983 , and a public hearing shall be held on tha.s ordinance on the (,Q(~ ~ day of ~~/1lV~ZJ 1983, at 7:30 p.m. in the Council Chambers of the Vail Municipal Building, Vail, Colorado. Ordered published in full this ~~ day of , x.983. i -~-' ~ ~~ Rodney E~li~er j May r ATTEST: Pamela A. Brandmeyer, T~wn Clerk ~ ~ ~ g.~ INTP.ODUGED, PASSED AND ADOPTED on second reading this 20th day of 5~;ptember, 1983. -~ ~ ~,~_ t Ramey E. lifer, ydr ATTLST: Pamela A, Bra,ndmeyer, ~ wn Clerk ~, ~ ~ -~ ~~ ro a r _.. r.7 ~.. t,~ ~,cn ~, <' ,...._. ~~~ ~.. ~~, -.- 7 «~ v~ _ f .. f~ ~~- v ~l ' \~ 1 c~ o n ro o ci. o Q c a O V _ Q ~,~ ~~ a ro o ~~ 0 Q c ~ 6 h,'. n' Q C1. 0 ,~ ro ~~ ro t- ~ 0 ~ ro C7 a ~ ~ o I~ ~ 7 Q Q N c ~~ 0 O o. o Q ~ c ~ ~. m Q Q Q ~' t} f Q O Q 0 ~ ~ ~ ~ i ro c ro Q Q m ~ ro ~ ~ \ ~ ~ N _ ~O ~ O ~ ~ Q ~ Q- '~ Q. 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