HomeMy WebLinkAbout2606 ORDINANCE NO. ~~
AN ORDINANCE relat±ng to the City of Bremerton's retire-
ment system, amending Section 14 of Ordinance No. 1572
by adding thereto subsection (e), and declaring an emer-
gency.
THE CITY OF BREMERTON DOES ORDAIN:
Section 1. That all or part of interes~t earned on pension
reserves that exceeds the actuarial requirements may be distributed
by the Board of Administration, Bremerton Employees Retirement System,
to eligible retirees on a prorated basis.
Section 2. Any such distribution may take effect as of
July 1, 1964.
Section 3. That an emergency exists and is hereby declared
to exist, and this Ordinance will be in full force and effect imme-
diately upon passage and publication.
PASSED unanimously by the City Council of the City of Brem-
erton, signed by the Mayor and attested by the City Clerk in authen-
tication of such passage the ~day of June, 1964.
ATTEST:
E.T.H. McGOWAN, CITY CLERK