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Committee clears three retirement‑plan administrative amendments
Summary
The committee recommended city council adoption of two resolutions and one ordinance to clarify that the city manager is the plan administrator for three retirement trusts and to remove outdated references to an investment committee; all motions passed unanimously.
Committee members recommended the City Council adopt two resolutions and an ordinance that clean up the administrative language in the city’s three retirement plans (police, fire and municipal employees).
Staff (speaker 8) explained the changes are mainly housekeeping: defining the plan administrator as the city manager and removing stray references to an investment committee while preserving the manager’s ability to appoint an investment committee that reports to her. "We want to make it clear that the city manager is in charge of administration of the plan," staff said during the presentation. The committee voted 6–0 to recommend each item to the full council.
The measures clarify internal authority and will be taken up by the City Council for final action.
