HomeMy WebLinkAbout~Master - Amending Chapter 32 of Municipal Code, Relating to Retirement System Trustees ORDINANCE NO. 2067
An Ordinance Amending Chapter 32 of the Municipal Code of the City of Ames,
Iowa, by Repealing Section 32-32 thereof; and, Providing for the Powers and
Duties of the Board of Trustees of the Ames Municipal Utility Retirement
System.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF AMES,
IOWA:
Section 1. That Section 32-32 of Chapter 32 of the Municipal Code
of the City of Ames, Iowa, be and the same is hereby repealed; and, the
following be and the same is hereby enacted in lieu thereof to be known as
Section 32-32 of the Municipal Code of the City of Ames, Iowa:
32-32 Powers and Duties of the Board of Trustees. The Board
of Trustees may adopt such rules and actuarial tables, and employ
such agents, physicians, accountants, actuaries or clerical assis-
tance as it may deem necessary. Decisions made by a majority
of the six voting trustees not inconsistent with the provisions of
this chapter shall be binding and conclusive on all persons. The
board shall be entitled to rely upon the records of the City as to
the service, age, or earnings of any employee or as to any other
information pertinent to any calculation or determination under
this retirement system.
Should any change or errors in records, or error in computation
of any benefit, result in any member or beneficiary receiving from
�- this retirement system more or less than he would have been en-
titled to receive had the records or computation been correct, the
board of trustees may correct such error, and, as far as practicable,
adjust the payments in such a manner that the benefit to which such
member or beneficiary was correctly entitled, shall be paid.
The board shall invest funds of the retirement system not currently
needed for current costs in investments proper for the funds of
the City of Ames, Iowa, under the laws of the State of Iowa, and
the board may sell any security belonging to the retirement system.
Section 2. All ordinances or parts of ordinances in conflict with
the provisions of this ordinance are hereby repealed.
Section 3. This ordinance shall be in full force and effect from
and after its passage and publication as provided by law.
Passed this 16th day of March 1965.
M. W. JORDA City Clerk PEARLE P. DE HART, Mayor
Moved by Judge and seconded by Pasley Ordinance No. 2067 be passe
on its first reading.
Voting Aye: Armstrong,, Judger Pasley, Eschbach, Bledsoe, Fisher
Voting Nay: None
Absent: None
rA • ,
Moved by Pasley and seconded by Judge to suspend the rules govern-
ing the passage of ordinances, the second and third readings be
omitted and Ordinance No. 2067 be placed for final passage.
Voting Aye : Armstrong, Judger Pasley, Eschbach, Bledsoe, Fisher
Voting Nay: None
Absent: None
Moved by Fisher and seconded by Eschbach Ordinance No. 2067 do now
pass.
Voting Aye : Armstrong, Judger Pasley, Eschbach, Bledsoe, Fisher
Voting Nay: None
Absent: None
Mayor DeHart declared Ordinance No. 2067 duly adopted.