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Regular City Council Meeting <br />September 8, 2003 <br />Page 16 <br /> <br />clarification that you always want those figures to match. He asked if he wanted <br />those contributions to always be the same. Mr. Anderson explained that the <br />TMRS rate will decrease on it's own over a period of time if they do not make <br />any other changes to it. Mr. Anderson explained that if someone leaves and does <br />not draw the city portion that was paid in for them, it rolls back into the city's <br />credit and that is why it is not at 12%. The city gets the benefit of that credit. <br />He said that if the firemen don't leave it, then it does not roll back into their plan <br />and they would not get the benefit and the balance stays in their retirement <br />system and it never changes. The city has no control over what the firemen <br />contribute. Mayor Fendley said it all should be equal and fair. <br /> <br />Councilwoman Neeley asked if the retirement is looked at each year because they <br />looked at it last year. Mr. Anderson said the City Council has to vote a resolution <br />every year that sets the rate. Councilwoman Neeley asked if it is equal this year <br />and we get to 2004 and it is not equal, does the Council revisit the issue. Mr. <br />Anderson again told the Council that they have to pass a resolution every year on <br />TMRS. Councilman Plata said that is a big ~no" that this was the first time he <br />had looked at this. Mr. Anderson said that there is a resolution every October or <br />November with an effective date of January first of each year. <br /> <br />Councilman Guest asked Mr. Anderson if under the retirement plan, there is not <br />a cap on how much you can contribute, in other words, you cannot cap that. Mr. <br />Anderson advised that it is the same percentage for all employees. You can't cap <br />it. <br /> <br />A motion was made by Councilman Bell to leave the retirement alone for the city <br />employees, and increase the city's match for what the city is doing for the rest of <br />the city employees at a cost not to exceed $40,000.00. The motion was seconded <br />by Councilwoman Neeley and carried 7 ayes, 0 nays. <br /> <br />Mayor Fendley said they would consider the V&CC and PEDC's budgets <br />tomorrow night. <br /> <br />Councilman Guest asked if Gary Vest was a city employee and City Manager <br /> <br /> <br />