HomeMy WebLinkAbout2012-09Employer Contribution Rates for Counties, Cities,
Towns, School Divisions and Other Political Subdivisions
(In accordance with the 2012 Appropriation Act Item 468(H))
Resolution
2012-09
BE IT RESOLVED, that the Town Of Pulaski 55387 does hereby acknowledge that its contribution rates
effective July I, 2012 shall be based on the higher of a) the contribution rate in effect for FY 2012, orb) seventy
percent of the results of the June 30, 2011 actuarial valuation of assets and liabilities as approved by the Virginia
Retirement System Board of Trustees for the 2012-14 biennium (the "Alternate Rate") provided that, at its option,
the contribution rate may be based on the employer contribution rates certified by the Virginia Retirement System
Board of Tmstees pursuant to Virginia Code § 51.1-145(I) resulting from the June 30, 20II actuarial value of assets
and liabilities (the "Certified Rate"); and
BE IT ALSO RESOLVED, that the Town Of Pulaski 55387 does hereby certify to the Virginia Retirement
System Boazd of Trustees that it elects to pay the following contribution rate effective July I, 2012:
(Check only one box)
X The Certified Rate of 13.13% o The Alternate Rate of 9.19%; and
BE IT ALSO RESOLVED, that the Town Of Pulaski 55387 does hereby certify to the Virginia Retirement
System Board of Trustees that it has reviewed and understands the information provided by the Virginia Retiremem
System outlining the potential future fiscal implications of any election made under the provisions of this resolution;
and
NOW, THEREFORE, the officers of Town Of Pulaski 55387 are hereby authorized and directed in the name
of the Town Of Pulaski to carry out the provisions of this resolution, and said officers of the Town Of Pulaski are
authorized and directed to pay over to the Treasurer of Virginia from time to time such sums as are due to be paid by
Town Of Pulaski for this purpose. __ // /
Governi~'~'$Qy/School Division Chairman
CERTIFICATE
h ~ELT(2~~~~ ~(~ by b~. ,Clerk of the Town Of Pulaski, certify that the foregoing is a
tree and correct copy of a resolution passed at a lawfully organized meeting of the Town Of Pulaski held at
1 ~~ AS k~„Virginia at S`cC ~ tr\o'clock on ~~n l S , 2012. Given under my hard
seal of the Town Of Pulaski this ~I~day of (~~~ ~ , 2012. (^'
(L,. n~o~.c \nr a
Clerk
received by VRS no later than July 10, 2012.