Extracted text (via pymupdf)
3000 characters
DRAFT
ORDINANCE G-
AN ORDINANCE AMENDING SECTION 2-1503 A AND B OF THE
PHOENIX CODE TO ELIMINATE ONE CITIZEN MEMBER AND
SUBSTITUTE A RETIRED CITY EMPLOYEE WHO IS A
CURRENT PLAN PARTICIPANT; AND FURTHER AUTHORIZING
THE CITY MANAGER TO TAKE ANY AND ALL ACTIONS
NECESSARY OR APPROPRIATE, TO CARRY OUT THE
PURPOSES OF THIS ORDINANCE.
__________
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF PHOENIX as
follows:
SECTION 1. Article XXXV, Phoenix City Code, Section 2-1503A is
amended mod subsection (2) and add new subsection (6) to read:
Sec 2-1503 Phoenix Employees’ Deferred Compensation Board; appointment; terms.
A. The Phoenix Employees’ Deferred Compensation Board is established to
govern the program. The Board shall consist of nine members as follows:
1. Three employees of the City appointed by the Council. One employee
shall be a non-public safety member of the Coalition of Phoenix City
Unions. One employee shall be a member of the International Association
of Firefighters Local 493. One employee shall be a member of either the
Phoenix Law Enforcement Association or the Phoenix Police Sergeants
and Lieutenants Association.
2.
ONE CITIZEN Two citizens from the general public, who HAS have
investment experience and HAS have no rights in the program, directly or
indirectly, appointed by the Council.
3. Two management employees of the City appointed by the City
Manager. One management employee shall have human resources and
employment benefits experience. One management employee shall have
public sector finance and investment experience.
ATTACHMENT A
THIS IS A DRAFT COPY ONLY AND IS NOT THE OFFICIAL COPY OF THE FINAL,
ADOPTED ORDINANCE
2
Ordinance G-
4. The City of Phoenix Employees’ Retirement Plan Administrator.
5. The City Manager or the City Manager’s designee, who shall be the
Board’s chair.
6. A RETIRED CITY EMPLOYEE WHO IS A CURRENT PLAN
PARTICIPANT.
SECTION 2. Article XXXV, Phoenix City Code, Section 2-1503B(3) is
amended to read:
Sec 2-1503 Phoenix Employees’ Deferred Compensation Board; appointment; terms.
B. In order to ensure continuity of experience on the Phoenix Employees’
Deferred Compensation Board, the Council and City Manager shall appoint
members to the following initial terms:
3. Four years: The member of the Phoenix Law Enforcement Association
or the Phoenix Police Sergeants and Lieutenants Association; one citizen
with investment experience RETIRED CITY EMPLOYEE WHO IS A
CURRENT PLAN PARTICIPANT; and, the City Manager or the City
Manager’s designee.
PASSED by the City Council of the City of Phoenix this 20th day of
November 2024.
M A Y O R
ATTEST:
____________________________
Denise Archibald, City Clerk
3
Ordinance G-
APPROVED AS TO FORM:
Julie M. Kriegh, City Attorney
BY: _________________________
_________________________
REVIEWED BY:
____________________________
Jeffrey Barton, City Manager
MLW:bc:LF24-2352;11-20-24; 2464930