RESOLUTION NO. 2022-008
WHEREAS, under the provisions of Act 515 of the 1945 Legislature, as amended, the employees of the Town of Berlin are eligible to participate in the Employees’ Retirement System of Alabama, and
WHEREAS, it is desirable that public employees of Town of Berlin be covered under an annuity and pension plan, and
WHEREAS, the Town of Berlin agrees regular full-time and certain part-time employees should be allowed to participate in the Employees’ Retirement System of Alabama,
NOW, THEREFORE, BE IT RESOLVED by the Town of Berlin that the Employees’ Retirement System of Alabama is hereby adopted as the official retirement plan for all regular full-time and certain part-time employees of the Town of Berlin who are otherwise eligible to participate in said System.
BE IT FURTHER RESOLVED, that upon the approval of the Employees’ Retirement System of Alabama, that the following provisions be included:
1. All positions on a full normal working time basis, as well as part-time employees who work at least 20 hours per week and earn no less than the prevailing minimum wage, shall be eligible for participation. Temporary employees are not eligible.
2. The Town of Berlin agrees to certify as creditable prior service all service rendered to the Town of Berlin prior to 01/01/2023 by individuals in the employ of Town of Berlin on 01/01/2023 and who are eligible and elect to join the Retirement System within 1 year of 01/01/2023.
3. The Town of Berlin agrees to make contributions upon member earnable compensation at the rate as determined by the Actuary of the Employee’s Retirement System for the following:
a) Normal rate for current service;
b) Accrued liability rate for prior service and service not funded by the normal rate;
c) Administrative cost rate for System operational cost, and
d) Pre-retirement death benefit rate for pre-retirement death benefit cost.
4. The Town of Berlin agrees to pay for the initial cost of a preliminary valuation by the Actuary to determine the accrued liability on account of prior service and to pay any other cost for Special Services of the Actuary.
5. The Town of Berlin agrees to submit all information as required by the Employees’ Retirement System relative to its employees.