ORDININCES & RESOLUTIONS 2001 - Laserfiche WebLink

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A RESOLUTION ELECTING TO ADD EMPLOYEES TO THE PUBLIC EMPLOYEES ~TIB~ENT FUND WHEREAS, the Town Council is the governing body of the Civil Town of Mooresvi!le in Morgan County, State of Indiana, and WHEREAS, the Town of Mooresville, by Resolution dated October 30, 1995 elected to participate in the Public Employees' Retirement Fund (said Fund established by the Acts of 1945, Chapter 340, and all Acts amendatory and supplemental thereto); WHEREAS, the Town Council for the Civil Town of Mooresville is fully cognizan% that the percentage of cost of gross annual payroll of covered employees has been set at 7.75% by the actuary of the fund, and that at five (5) year intervals, or more often if directed by the Board of Trustees of the Public Employees' Retirement Fund, the actuary will review the status of the employees covered and shall adjusz the cost percentage accordingly so that the Fund will remain on an aceuarially sound basis, and WHEREAS, such governing body acknowledges its liability and that, pursuant to law, it and its successors in office, must the employees' also fund ~he appropriate sufficient funds each year to retire prior service liability in an orderly manner and current cost accruing annually. WHEREAS, from time 5o time new employees are employed by the Town of Mooresville and other posi%ions within %he Town of Mooresville can, au the election of %he Town Council, be added 5o the list of covered employees of the Public Employees' Retirement Fund by resolution;