(a) The City employees retirement system, having been heretofore established in the City Charter, as amended, for the purpose of providing retirement allowances for the employees of the City, the effective date of which was July 1, 1945, is hereby amended pursuant to law and as a result of negotiations between the appropriate parties or their agents or representatives. The provisions of the retirement system are set forth in this chapter in their entirety. The retirement system is intended to qualify as a pension plan and trust meeting the requirements of Sections 401(a) and 501(a) of the Internal Revenue Code, as now in effect or hereafter amended, and shall be administered so as to fulfill this intent.
(Res. 02-323A. Passed 6-17-02.)
(b) Unless otherwise provided herein, all provisions relating to the Tax Reform Act of 1986 shall be effective July 1, 1989, all provisions related to the Uruguay Round Agreements Act, the Uniform Services Employment and Reemployment Rights Act of 1994, the Small Business Job Protection Act of 1996, the Tax payer Relief Act of 1997, the Internal Revenue Service Restructuring and Reform Act of 1998, and all provisions relating to the Community Renewal Tax Relief Act of 2000, shall be effective January 1, 1997.
(Res. 02-654. Passed 12-16-02.)