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• A RESOLUTION <br />ESTABLISHING THE AMOUNT <br />OF A POST RETIREMENT SUPPLEMENT <br />FOR RETIRED CITY EMPLOYEES <br />WHEREAS, the Retirement Plan Commission has approved a <br />post retirement supplement of 1.75% of the current retirement <br />pay of each presently retired employee effective July 1, <br />1987; and <br />WHEREAS, the Retirement Plan Commission reports to <br />Council that the Retirement Fund contains sufficient funds to <br />pay such supplement; and <br />WHEREAS, City Council and the Retirement Plan Commission <br />agree that the City's contribution to the Retirement Fund <br />will be adjusted as a result of the next biennial valuation <br />so as to account for the ongoing payment of such supplement; <br />NOW, THEREFORE, BE IT RESOLVED by the Council of the <br />City of Charlottesville, Virginia that the Retirement Plan <br />Commission is authorized and directed to provide for the <br />• payment from the Retirement Fund of a post retirement <br />supplement of 1.75% of the current retirement pay of each <br />presently retired employee effective July 1, 1987. <br />Approved by Council <br />August 17, 1987 <br />L <br />erk o Council <br />87-6-50 <br />• <br />