(A) The Pension Plan hereby established for the city's police and firefighters under KRS 95.761 is hereby frozen effective February 1, 1988, to participation by those existing employees who are then participating therein and who file with the city, on or before February 1, 1988, a written election to continue participating therein in lieu of participating in the County Employees Retirement System (CERS).
(B) The city hereby elects to participate in CERS effective February 1, 1988, and hereby authorizes the Mayor to execute the appropriate instruments to effectuate such election.
(C) All employees now participating in the existing city Pension Plan are hereby authorized to terminate such participation and transfer to CERS.
(D) The city shall continue to fund and manage the existing Pension Plan for the benefit of any employees electing to continue therein and those who are entitled to benefits in the existing Pension Plan.
(E) Employees hired after February 1, 1988 who are otherwise eligible to participate in the city Pension Plan, shall participate only in CERS.
(F) The city hereby adopts the terms and provisions of the CERS under KRS 78.510 through 78.852, and elects the Standard Participation Plan under KRS 78.531 (3).
(G) The City Administrative Officer is hereby directed to certify to the Board of Trustees of the Pension Plan the names of all employees deemed to be working in a hazardous position for the purposes of KRS 61.592. All police officers and firefighters employed after February 1, 1988 shall, if otherwise qualified, be eligible for CERS hazardous position coverage.
(Ord. passed 1-18-88)