Resolution 2001-10 ♦_ P
STATE OF ILLINOIS )
)ss.
COUNTY OF KENDALL )
RESOLUTION NO. 2001- 0
RESOLUTION TO ADOPT AMORTIZATION PERIOD
FOR LVW EARLY RETIREMENT INCENTIVE
WHEREAS, on March 2001 the City Council of The United City of Yorkville
adopted Resolution (Ordinance) No.2001- which established an early retirement
incentive (incentive)through the Illinois Municipal Retirement Fund for its employees: and,
WHEREAS, Section 7-141.1 of the Illinois Pension Code provides that a participating
..� employer may select an amortization period for the actuarial costs of the incentive which may be
no less than 5 years and no greater than 10 years; and,
WHEREAS, United City Of Yorkville is prohibited from adopting a subsequent incentive
until the actuarial costs of the previous programs are paid.
RESOLVED (ORDAINED) by the City Council of the UNITED CITY OF
YORKVILLE that the UNITED CITY OF YORKVILLE does hereby request the Illinois
Municipal Retirement Fund to amortize the cost of the incentive over a period of five years.
If any section, paragraph, clause or provision of this Ordinance shall be held invalid, the
invalidity of such section, paragraph, clause or provision shall not affect any of the other
provisions of this Ordinance.
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ADOPTED thi da of March, 2001, pursuant to a roll call vote as follows:
PAUL JAMES MARTY MUNNS
RICHARD STICKA S MIKE ANDERSON
VALERIE BURD `I fi S ROSE SPEARS 6's
LARRY KOT S THOMAS SOWINSKIS
APPROVED by me, as Mayor of the United City of Yorkville, Kendall County, Illinois,
thi5;� Day of March, A.D.2001
MAYOR
PASSED by the City Council of the United City of Yorkville, Kendall County, Illinois,
this�Day of March, A.D.2001.
Attest:
TY CLERK
resamort
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