Res 184-89 11/7/1989RESOLUTION NO. /14447Y
RESOLUTION CREATING AN EMPLOYEE
BENEFIT TASK FORCE AND DEFINING
THE FUNCTIONS OF THE TASK FORCE
WHEREAS, the employee benefit program of the City of Wichita
Falls contains complexities which make it difficult to compare to
other employee benefit programs, and
WHEREAS, the City Council of the City of Wichita Falls
desires an independent and objective study which compares the
costs and benefits of the City's program to alternative employee
benefit programs.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WICHITA FALLS, TEXAS, THAT:
There is hereby established an Employee Benefit Task Force,
which shall consist of five members. Such members shall be
appointed by the City Council and be residents of the City of
Wichita Falls. The City Council shall appoint one of the members
as chairman, and the task force will meet at the call of the
chairman.
The purposes of the task force are to:
1. Outline and evaluate benefits available under the City's
current retirement plan for all employees.
2 . Compare the cost to the City and benefits available under
the current retirement plan to those options that other TMRS
participating cities receive. Such comparisons should include
various combinations of employee deposit rates, city matching
ratios, and updated service credits.
3 . Determine the cost of moving from twenty year vesting to
ten year vesting.
4 . Determine the cost of increasing benefits to retirees
from 30 percent to 50 percent.
5. Determine the cost of increasing benefits to retirees
from 30 percent to 70 percent.
6. Compare the cost to the City and benefits available
under the City's Fireman's Relief and Pension Plan to fireman
retirement programs of other cities.
7 . Compare the cost to the City and benefits available under
the City's current retirement plan to other professional
retirement programs available to municipalities.
8. Review and evaluate any additional information relating
to employee benefits deemed necessary by the task force or the
City Council.
The task force shall submit its findings to the City Council
in a written report on or before March 15, 1990. This resolution
shall be automatically repealed, and the task force shall be
dissolved, on March 15, 1990, or on the date on which it makes
its final report to the City Council, whichever comes first.
PASSED AND APPROVED this the 7th day of November, 1989.
M A Y O R
ATTEST:
City Clerk