Minutes 04/25/1995 - Laserfiche WebLink

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following Resolution, requesting that copies be sent to the Virginia Municipal League and the Virginia Association of Counties: WHEREAS, the City of Martinsville has been a participant in the Virginia Retirement System since 1947, thereby providing its employees with the same retirement benefits as the Commonwealth of Virginia employees; and WHEREAS, in 1994 the Virginia General Assembly approved the funding of a 3% benefit increase to current and future "State" retirees in the Virginia Retirement System to be effective October 1, 1994; and WHEREAS, the 1994 legislation provided that "non-State" participants in the Virginia Retirement System could be included in the 3% benefit increase if the local~ jurisdictions agreed to pay for the costs; and WHEREAS, this action by the 1994 General Assembly in essence imposes another "unfunded mandate" upon local governments to provide this benefit to their past and present employees; and WHEREAS, all participants, whether State or local government, in the Virginia Retirement System should be availed of the same benefits; and WHEREAS, at the requestof the Martinsville City Council, Delegate Wm. Roscoe Reynolds introduced legislation during the 1995 General Assembly which would require the State to fund the 3% increase for all participants of the VRS, however, this legislation was not considered by the Senate Finance Committee; and WHEREAS, the City of Martinsville, Virginia, has adopted a Resolution agreeing to locally fund a 3% retirement allowance increase as provided in the CODE OF VIRGINIA, Section 51.1-130, 51.1-155, 55.1-157 as applicable for its eligible current and future retirees under employer code 5-5223, effective July 1, 1995; now, therefore, BE IT RESOLVED by the Council of the City of Martinsville, Virginia, in regular session assembled April 25, 1995, that it does hereby request the 1996 General Assembly to adopt legislation that would provide the funding necessary for the 3% increase for all participants of the Virginia Retirement System to be effective retroactive to October 1, 1994. Council considered authorizing the City Manager to execute a Loan Agreement with the Virginia Museum of Transportation, Inc. which would allow the City to place on loan a 1951 American LaFrance Fire Truck. Purchasing Agent J. Gary Via reported the City could find no buyers for the truck, due to the expense involved in repairing it to an operable state. In addition, the City did not have a good location to store the truck. Upon motion, duly seconded and by unanimous vote, Council