Title
Request for Approval of City of Rochester Hills Group Pension Plan Document Amendment
Body
Resolved that the Rochester Hills City Council adopts the Amendment to the City of Rochester Hills Group Pension Plan as presented, on file in the City Clerk's Office and incorporate by reference, and as required by the Internal Revenue Code and related Internal Revenue Service regulations to provide that the City of Rochester Hills Group Pension Plan be amended, effective December 25, 2006, to provide that the employer contribution to the Pension Plan for non-union employees increase to 14% of compensation and non-union employees will have a mandatory employee contribution of 3% of compensation which will be contributed on a pre-tax basis in accordance with Internal Revenue Code Section 414(h)(2).