Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Richmond council rejects ordinance to automatically divert 10% of future surpluses to retirees’ fund
Summary
The council voted down an ordinance that would have amended city code to direct 10% of each year’s future budget surplus automatically to a special reserve for Richmond Retirement System one-time payments; supporters said retirees need help, opponents warned the change would tie the city’s hands.
Richmond City Council declined to adopt an ordinance that would have amended city code to require 10% of each year’s future budget surplus be routed automatically to a special-purpose reserve for one-time payments to Richmond Retirement System recipients.
Council Member Trammell, the ordinance’s principal patron, urged action for retirees and said the city must do more to support former employees who have not received cost-of-living adjustments in years. "They should…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
