(A) The city hereby elects to participate in CERS effective August 1, 1988, and authorizes the Mayor to execute the appropriate instruments to effectuate the election.
(B) All employees (except Public Works employees) now participating in the existing city pension plan are hereby authorized to terminate their participation and transfer to CERS.
(C) The city hereby adopts the terms and provisions of CERS under KRS 78.510 - 78.851, elects the alternate participation plan under KRS 78.530(3), and declares its intention to enter into an agreement with the Board of Trustees for the amortization of the cost of prior service credit over a fifteen (15) year period commencing on or about August 1, 1988.
(Ord. 11-1988, passed 7-11-88; Am. Ord. 4-1989, passed 1-30-89)