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Council approves first readings updating retirement ordinances to new federal RMD ages
Summary
Pontiac City Council approved first readings to amend city pension ordinances to conform with the federal Secure Act 2 required beginning dates for required minimum distributions (RMDs).
Pontiac City Council on March 11 approved first-reading amendments to municipal pension ordinances to conform with federal law changes in the Setting Every Community Up for Retirement Enhancement (SECURE) Act and SECURE 2.
The measures update required beginning dates for required minimum distributions (RMDs) used by the General Employees Retirement System (GERS), the reinstated General Employees Retirement System (ReGURS) and the Police and Fire Retirement System. Attorney Mickey Bartlett,…
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