CCR1974156RESOLUTION #156-74
(As Amended)
AUTHORIZING THE FINANCE COMMITTEE TO HIRE
ACTUARY FOR RETIREAMENT PROGRAM ANALYSIS
WHEREAS during negotiations for the 1974 city employees one
of the requests received was that the city change its present
retirement program to the state retirement program, and
WHEREAS the Finance Committee was of the opinion that the
cost of changing retirement programs would be excessive, and
WEREAS the Finance Committee did agree to ask the Council
for permission to hire a consulting actuary provided through
the State of Wisconsin to compute the estimated cost to the
City of Muskego of the participation of its employees under
the Wisconsin Retirement Fund as of January 1, 1975, and
WHEREAS, the request would be based on prior service costs
for total years of employment and a second cost based on the
year Muskego became a city in 1964, and
WHEREAS, the true cost of joining the Wisconsin Retirement
Fund can only be determined through the use of a consulting
actuary, and
THEREFORE, BE IT RESOLVED that the Common Council of the
City of Muskego does hereby authorize the Finance Committee
Retirement Program to determine actual costs to the city.
to hire a consulting actuary through the Wisconsin State
BE IT PURTHER RESOLVED that the estimated cost would be
given for both total employment years as well as employment
dating back to 1964.
DATED THIS 23 DAY OF July , 1974.
FINANCE COMMITTEF,
ATTEST