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File #: 23-1618    Version: 1
Type: Bill Status: Passed
File created: 10/24/2023 In control: Finance & Governance Committee
On agenda: 11/13/2023 Final action: 11/22/2023
Title: A bill for an ordinance amending the 1963 Retirement Plan with regard to retirement benefits. Amends Article XII of Chapter 18 of the Denver Revised Municipal Code to reduce the actuarial assumption of investment return for 7.25% to 7%, citywide. The Committee approved filing this item at its meeting on 10-31-2023.
Indexes: Lucas Palmisano
Attachments: 1. BR23-1618_DERP_DERP 2023 Valuation Presentation 2023.07.23, 2. BR23-1618_DERP_1963 Retirement Plan with regard to retirement benefits - two page document RAM 10102023, 3. BR23-1618_DERP_2023 Executive Summary ARR change_final, 4. BR23-1618_DERP_Bill_Resolution_request_Form_2023_ARR, 5. 23-1618 Filed Bill_1963 Retirement Plan with regard to retirement benefits - actuarial assumption of investment_RAM 110723_Final, 6. 23-1618 Filed Bill_1963 Retirement Plan with regard to retirement benefits - actuarial assumption of investment, 7. 23-1618_signed, 8. 23-1618 For an ordinance amending the 1963 Retirement Plan with regard to retirement

Other/Miscellaneous Request Template (Appointments; ROW; Code Changes; Zoning Action, etc.)

 

Date Submitted: 10-30-2023

 

Requesting Agency: DERP

                               Division:

 

Subject Matter Expert Name: James Thompson
Email Address:
James.thompson@derp.org <mailto:James.thompson@derp.org>
Phone Number:

 

Item Title & Description:

(Do not delete the following instructions)

These appear on the Council meeting agenda. Initially, the requesting agency will enter a 2-3 sentence description. Upon bill filling, the City Attorney’s Office should enter the title above the description (the title should be in bold font).

 

Both the title and description must be entered between the red “title” and “body” below.  Do not at any time delete the red “title” or “body” markers from this template.

title

A bill for an ordinance amending the 1963 Retirement Plan with regard to retirement benefits.

Amends Article XII of Chapter 18 of the Denver Revised Municipal Code to reduce the actuarial assumption of investment return for 7.25% to 7%, citywide. The Committee approved filing this item at its meeting on 10-31-2023.

body

 

Affected Council District(s) or citywide?

citywide

Executive Summary with Rationale and Impact:

Detailed description of the item and why we are doing it. This can be a separate attachment.

 

Address/Location (if applicable):

 

Legal Description (if applicable):

 

Denver Revised Municipal Code (D.R.M.C.) Citation (if applicable):

 

Draft Bill Attached?