1963-2962r~~
RESOLUTION NO. 2962
RESOLUTION FAVORING LEGISLATION PROVIDING POR
OPTIONAL COMBINED PERA.AASI COVERAGE POR
MUNICIPAL EMPLOYEES
WI~REA5, the Hennepin County Leagu of Municipalities and League
of Minnesota Municipalities have adopted resolutions asking for legis-
lation that would allow each present member of PERA the right to choose
between continuing the pre sent PERA retirement plan, or a plan combin-
ing full social security coverage with a modified PERA plan, and
WHEREAS, this coverage will permit each individual employee of the
Village of Richf field to elect that form of retirement benefits which
would be most beneficial to him, and
DYl~REAS, the use of combined PERA and OASI coverage for village
employees would not be likely to increase the cost of retirement benefits
paid by the village, over what such cost would be if FERA coverage alone
were continued,
NOW THEREFORE, BE IT RESOLVED by the Vii].age Council of the
Village of Richfield that,
This council Favors legislation that would allay each member
of PBRA to elect to continue in the present PERA retirement
plan or to elect to become a member of a retirement plan
which combines full social security coverage with a modified
PERA plan.
Passed bq the village council of the.Village of Richfield phis 25th
day of February, 1963.
ATTEST:
Edward J. Mol e, Clerk-Treas.
Stanley W. Olson, Mayor
0. an Kr velen, Manager