02 City Council (8/28/03) - Laserfiche WebLink

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Regular City Council Meeting August 28, 2003 Page 8 Mayor Fendley reconvened the meeting at 6:25 P.M. Mayor Fendley asked Mr. Anderson if he had received anything from TML. Mr. Anderson said that he could not contact the person he needed but he thought he could have figures by next week. Councilman Plata wanted to know if they are going to finalize something now. Mayor Fendley advised that Council could make a recommendation and then after seeing the numbers make a final recommendation when they look at the total budget. Mayor Fendley said that they have talked about the health benefits and the retirement and they are going to run those numbers. Mr. Haynes has given the City Council information on the retirement system, which was a survey of cities by population. Mr. Anderson wanted to know his specific instructions on the retirement plan. Mayor Fendley said Councilman Plata wanted to look at going to 5% and a match by the city, or keep the 6% and go to a 4% match by the city, or cut it down from 12% to 10%. Mr. Anderson advised that the employee contribution cannot be less than 5%. Councilman Plata suggested going to 5% and cut the city's contribution back from 12% to 10%. Mr. Anderson said he did not think that could be done. Councilman Plata told Mr. Anderson to run the numbers and let the Council know what the figures would be with the employee contributing 5% and the city contributing 10%. Mr. Anderson said what he understood from the last meeting was the Council was going to come up with some number such as $425.00 or $450.00 and budget and they wanted him to go out and find a plan that is going to match up. Mayor Fendley said he though that TML was going to get him some numbers. Mr. Anderson said he would have those for the Council. Councilman Plata asked if the city is basing this budget on everyone getting a