[Ord. No. 1050 §§1 —
2, 4-21-2003; Ord. No.
1119, 5-21-2007]
A. The
Board of Aldermen of the City of Vinita Park, an employer under the
Missouri Local Government Employees Retirement System (LAGERS), hereby
elects the following:
1. To adopt a change in the contributions from covered employees, changing
to the requirement of four percent (4%) of gross salary and wages
as contributions from covered employees in accordance with the provisions
of Sections 70.705 and 70.730, RSMo., 2004.
2. To adopt a change in the method of determining a member's final average
salary, changing to a thirty-six (36) consecutive month period for
determining a member's monthly salary in accordance with the provisions
of Sections 70.705 and 70.730, RSMo., 2004.
3. To adopt a change in the Benefit Program of covered employees, changing
to Benefit Program L-6 (2.00%) in accordance with Section 70.665,
RSMo., 2004.
4. To adopt a change in the retirement age provision of covered employees,
changing to member employees' option of retirement upon attaining
minimum service retirement age in accordance with Sections 70.600,
70.645 and 70.646, RSMo., 2004.
B. The
City Clerk shall certify this election to the Missouri Local Government
Employees Retirement System within ten (10) days hereof. Such election
shall be effective on the first (1st) day of July, 2007.