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5-6   PENSIONS, RETIREMENT ALLOWANCES AND ANNUITIES.
5-6.1   Pension Reserve Fund.
   In order to provide reserves that may be used to offset the anticipated future costs of funding the contributory retirement systems of the city, the Boston City Council by majority vote, upon the request of the Mayor, may appropriate in any fiscal year an amount or amounts in the aggregate in any one year not exceeding 5% of the real and personal property tax levy of the next preceding fiscal year. All amounts so appropriated shall be credited to the Pension Reserve Fund established hereby (the “fund”) of the system provided for in Section 22 of the Pension Act. Notwithstanding the foregoing, the aggregate amount of deposit in such fund at any time shall not exceed 10% of the equalized valuation of the city, as defined in M.G.L. Chapter 44, Section 1, as last determined in accordance with law.
(Ord. 1984 c. 1; CBC 1985 5-6.1)
5-6.2   Allocation of the Fund.
   Except as hereinafter provided, amounts appropriated to the fund shall be applied as provided herein, in the Pension Act and in the Funding Act, to meet expected future pension costs payable with respect to all employees of the city. The Boston City Council with the approval of the Mayor may designate by order all or any portion of the amount appropriated to meet expected future pension costs payable with respect to employees of particular Departments, Commissions, Agencies, Boards or distinctive parts or units thereof (hereinafter, collectively, “Departments” or “Department”) of the city; provided that no amount so specifically designated for a particular Department in any year shall exceed the amount reasonably expected to be received in that year on account of fees, charges, payments-in-aid or other Departmental revenues relating to the activities of or services provided by that Department, nor shall the amount so specifically designated for any year for any particular Department exceed the sum of the amounts (determined in accordance with recognized actuarial methods) which are:
   (A)   Normal pension costs on an accrual basis for that year for the employees of that Department, including, if so provided in the order, an allocation relating to such employees of other Departments as provide overhead, support or ancillary service to the Department, in proportion such other Department provides service to the Department who are members of the system; and
   (B)   The annual amount required to amortize in not less than 20 years the unfunded past service liability attributable to such employees of that Department, or such other Departments.
(Ord. 1984 c. 1; CBC 1985 5-6.2)
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