The URL can be used to link to this page

Home My WebLink AboutResolution 2007-057 supplemental retirement plan with the arizona state retirement system MARANA RESOLUTION NO. 2007-57 RELATING TO EMPLOYMENT; AUTHORIZING THE EXECUTION OF A SUPPLEMENTAL RETIREMENT PLAN WITH THE ARIZONA STATE RETIREMENT SYSTEM; AND DECLARING AN EMERGENCY WHEREAS the Town of Marana, through its governing body, desires to establish a retirement plan for all of its eligible officers and employees to be administered by the Arizona State Retirement System ("ASRS") under Article 2, Chapter 5, Title 38, of the Arizona Revised Statutes. NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF THE TOWN OF MARANA, ARIZONA, AS FOLLOWS: SECTION 1. The Town of Marana (the "Town") hereby adopts a Supplemental Retirement Plan pursuant to A.R.S. ~ 38-729, for the officers and employees of the Town who are included within the Plan for the Town providing for the extension of Federal Old Age and Survivors' insurance benefits to the officers and employees ofthe Town. SECTION 2. The Supplemental Retirement Plan adopted by the Town shall provide the same retirement benefits and require the same obligations for entitlements as are provided for all other members of the retirement plan established in Article 2, Chapter 5, Title 38, Arizona Revised Statutes. SECTION 3. The Town agrees that it will pay contributions toward the ASRS retirement plan and the long term disability plan which are determined by the ASRS Board to be required to fund the benefits available to the participating members. SECTION 4. The Town hereby approves an Agreement, in the form of the agreement attached hereto as Exhibit A, providing that the ASRS shall administer the Supplemental Retirement Plan of the Town pursuant to Article 2, Chapter 5, Title 38, Arizona Revised Statutes. SECTION 5. The Human Resources Director is designated as the Authorized Agent of the Town and is authorized and directed to execute the Agreement, as submitted, on behalf ofthe Town. SECTION 6. The Human Resources Director is further authorized and directed as the representative of the Town to conduct all negotiations, conclude all arrangements and sign all agreements and modifications of agreements which may be necessary to carry out the intent of the Agreement in conformity with all applicable Federal and State laws, rules and regulations. SECTION 7. Since it is necessary for the preservation of the peace, health and safety of the Town of Marana that this resolution become immediately effective, an emergency is hereby {00004500.DOC /} FJClcds 4/11l07 declared to exist, and this resolution shall be effective immediately upon its passage and adoption. PASSED AND ADOPTED BY THE MAYOR AND COUNCIL OF THE TOWN OF MARANA, ARIZONA, this 17th day of April, 2007. {/~c Mayor d nea ATTEST: ~ ~~\,\'!r"",.. <i'-:;'~ 0\- M,q ,~ ~ .;:,.,\~..,\\mrt'""J:i. ~ ~O:$' '~~~ ..... < - !# CORPORATE ~ -yo :: ~ r- :: c:x:xJI ~ _ = = EAL:: - ... ~ ;:: .. ~ ~S ~;:: ~ ~ ~ os ~ 4 ~"J/m'\\\~ ~ ~lf:/IZ. '\9,\~ ~/IUll\\~ {00004500.DOC I} FJClcds 4/11/07 - 2 - !Arizona State Retirement System Membershi~ STATE OF ARIZONA ARIZONA STATE RETIRMENT SYSTEM POLITICAL SUBDIVISION SUPPLEMENTAL RETIREMENT PLAN The Town of Marana , a Political Subdivision of (Name of Political Subdivision) the State of Arizona, hereinafter designated the Political Subdivision, in accordance with the duly adopted Resolution of its governing body on 200_, a certified copy of which is attached hereto and incorporated by reference herein, adopting a Supplemental Retirement Plan pursuant to Section S 38-729, Arizona Revised Statutes, hereby enters into this Agreement with the ARIZONA STATE RETIREMENT SYSTEM BOARD, hereinafter designated the ASRS, to administer said Supplemental Retirement Plan. In order to carry into effect the common governmental duties provided in Article 2, Chapter 5, Title 38, Arizona Revised Statutes, the Political Subdivision agrees to be bound by the following terms and conditions in consideration of the administration of such Supplemental Retirement Plan by the ASRS and in consideration of the payment of employer and employee contributions and pro rata share of operating and administrative costs, in the event of assessment of such costs, to the ASRS, and the ASRS agrees to take the necessary actions to administer the Supplemental Retirement Plan for officers and employees of the Political Subdivision in conjunction with the operation and administration of the Arizona State Retirement System Plan. 1. MEMBERSHIP - All officers and employees of the Political Subdivision who are now or hereafter in the future may be subject to coverage under the Federal Old Age and Survivors Insurance System established by Title II of the Federal Social Security Act, as amended, and implemented by Article 1, Chapter 5, Title 38, Arizona Revised Statutes, and by agreements and regulations made and issued thereunder, shall be eligible for membership in the Supplemental Retirement Plan adopted by the Political Subdivision. 2. RETIREMENT PROVISIONS - The Supplemental Retirement Plan shall contain the provisions for its officers and employees as are now provided or may hereafter be provided by the Legislature of the State of Arizona for state officers and employees in Article 2, Chapter 5, Title 38, Arizona Revised Statutes. 3. COMPLIANCE WITH STATE LAW - The Political Subdivision agrees to comply promptly and completely throughout the term of this Agreement with the letter and intent of Chapter 5, Title 38, Arizona Revised Statutes, and the Resolution adopted by the governing body of the Political Subdivision establishing a Supplemental Retirement Plan for its officers and employees. The Political Subdivision agrees that no retirement program, exclusive of the Supplemental Retirement Plan and the Federal Social Security System, shall hereafter be established on behalf of its officers and employees included in the Supplemental Retirement Plan, except as authorized in Arizona Statute. 1 !Arizona State Retirement System Membershipl 4. PAYMENT OF CONTRIBUTIONS - The Political Subdivision will pay to the ASRS the employer and employee contribution required in Article 2 and 2.1, Chapter 5, Title 38, Arizona Revised Statutes, and the pro rata share of the cost of administering the Supplemental Retirement Plan, as may be required by the ASRS, at such times as shall be determined by law and ASRS regulations. In the event the Political Subdivision does not make, at the time or times due, the payments provided under the Agreement, there shall be added as part of the amounts due interest in accordance with Article 2, Chapter 5, Title 38, Arizona Revised Statutes. 5. PAYMENT OF AMOUNT DUE FOR SERVICE BEFORE EFFECTIVE DATE - The Political Subdivision agrees to pay the amounts, as determined by the ASRS, required to fund the additional costs of any benefits attributed to service before the effective date of the Supplemental Retirement Plan, pursuant to the Political Subdivision's election of the following, as indicated by the "_X_" in the space provided. (Mark one ofthe following): D The Political Subdivision waives benefits attributable to service for the Political Subdivision before the effective date of the Supplemental Retirement Plan and authorizes benefits under the Supplemental Retirement Plan only for service with the Political Subdivision from and after the effective date ofthe Supplemental Retirement Plan. D The amounts required to fund the additional cost of benefits for all eligible employees on the effective date of the agreement attributable to all service with the Political Subdivision before the effective date of the Supplemental Retirement Plan before the effective date of the Supplemental Retirement Plan. D The amounts required to fund the additional costs of benefits for all eligible employees on the effective date of the agreement attributable to not more than _ years or _ percentage of service with the Political Subdivision before the effective date of the Supplemental Retirement Plan. 6. WAGE REPORTS - The Political Subdivision shall prepare and submit such wage and other reports to the ASRS as may be required from time to time and in the form prescribed by the ASRS. 7. EXECUTION BY THE ASRS - After the execution of this Agreement by the ASRS, it shall constitute a binding and irrevocable agreement between the Political Subdivision and the ASRS with respect to the matters set forth herein. 8. AUTHORIZED AGENT - Human Resources Director is hereby Position Title designated as the duly authorized agent of the Political Subdivision and is authorized and directed to conduct all negotiations, conclude all arrangements, sign all agreements and modifications of agreements which may be necessary to carry out the intent of the Agreement in conformity with all applicable Federal and State laws, rules and regulations. 2 !Arizona State Retirement System Membershipl 9. BEGINNING DATE - The effective date of the Supplemental Retirement Plan for officers and employees shall be the first day of the month following the month the agreement is accepted and approved by the ASRS, or as otherwise indicated in the ASRS approval block below, and all payments in this Agreement shall be computed from said date. 10. NUMBER OF MEMBERS - The Plan is to apply, upon approval, to approximately 340 employees. For Town of Marana Name of Political Subdivision Address: 11555 W. Civic Center Drive Marana, AZ 85653 Signed: Authorized Agent Date Name: Regip.a Fleming Title: Human Resources Director Telephone Number: (520) 382-1920 Approved for coverage to be effective , 200_, by the ARIZONA STATE RETIREMENT SYSTEM at a regular/special meeting of the ASRS Board on the day of ,200_. Paul Matson, Director Date ASRS Membership revised 8/6/04 S:IEODIEMPLOYERIPACKETSIASRS SUPPLEMENTAL RETIREMENT. DOC 3