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11-0412
| 1 | | Bill | Passed | Approves revisions to the Denver Employees Retirement Plan (DERP) for new employees which includes increasing the minimum retirement age to 60, instituting a Rule of 85 for unreduced benefits, increasing the Average Monthly Salary calculation from 3 years to 5 years, eliminating the social security make-up benefit, and requiring a five-year vesting period for all employees; effective July 1, 2011. In addition, the legislation will add one additional member to the Advisory Committee appointed by the Career Service Board. (GENERAL GOVERNMENT AND FINANCE) Approves adjustments to the Denver Employees Retirement Plan (DERP) governance structure and changes to the pension offered by DERP for new employees which include increasing the minimum retirement age to 60, instituting a Rule of 80 for unreduced benefits, and increasing the Average Monthly Salary calculation from 3 years to 5 years; effective July 1, 2011. In addition, the revise the DERP governance structure to require the DERP Board to always have one employee and one retiree on it, subjecting all Mayoral nominations for the Boa | approved | |
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11-0413
| 1 | | Bill | Passed | Approves a 1.5 percent increase to the DERP plan based on a recent actuarial study to meet the Annual Required Contribution (ARC). The additional contribution will increase from 15 percent to 16.5 percent, of covered employees' salary for retirement contributions, to be split (0.75%) equally between the City and current employees. The increase will be effective January 1, 2012. (GENERAL GOVERNMENT & FINANCE) Approves a 1.5 percent increase to the DERP plan based on a recent actuarial study to meet the Annual Required Contribution (ARC). The additional contribution will increase from 15 percent to 16.5 percent, of covered employees' salary for retirement contributions, to be split (0.75%) equally between the City and current employees. The increase will be effective January 1, 2012. The Committee approved filing this bill at its meeting on 6-1-11. | approved for filing | Pass |
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11-0414
| 1 | | Bill | Passed | Approves an ordinance to amend outdated language and references in the Denver Employee Retirement Plan Sections 18-402 through 18-430 of the Denver Revised Municipal Code. (GENERAL GOVERNMENT AND FINANCE) Approves an ordinance to amend outdated language and references in the Denver Employee Retirement Plan section of the Denver Revised Municipal Code. The Committee approved filing this bill at its meeting on 6-1-11. | approved for filing | Pass |
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