Subject: 20092/Agmts/PensionContributions
Date: Fri, 3 Jan 1992 10:24:00 -0500


                               RESOLUTION NO. 20092
                  
                  
                   A RESOLUTION AUTHORIZING THE CITY FINANCE
                   OFFICER TO ENTER INTO AGREEMENTS WITH THE
                   PENSION FUNDS OF THE LABORERS' INTERNATIONAL
                   UNION OF NORTH AMERICA AND THE INTERNATIONAL
                   UNION OF OPERATING ENGINEERS INCREASING THE
                   AMOUNTS CONTRIBUTED BY THE CITY ON BEHALF OF
                   CITY EMPLOYEES COVERED BY SAID PENSION FUNDS
                   TO SEVENTY-ONE CENTS ($.71) PER HOUR FOR
                   LABORERS AND NINETY-TWO CENTS ($.92) PER
                   HOUR FOR OPERATING ENGINEERS.
                  
                  
                                                    
                  
                  
       	    	 WHEREAS, the City of Chattanooga has not updated its
       pension contribution agreements with the Laborers' International
       Union of North America since July 1, 1989; and
       	    	 WHEREAS, the City of Chattanooga has not updated its
       pension contribution agreements with the International Union of
       Operating Engineers since July 1, 1985; and
       	    	 WHEREAS, City employees covered by these pension funds
       have begun to lag significantly the pension contributions made on 

       behalf of their coworkers to the City's General Pension Fund;
       	    	 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
       THE CITY OF CHATTANOOGA, TENNESSEE, That the City Finance Officer 

       be and is hereby authorized to enter into agreements with the
       Laborers' International Union of North America and the
       International Union of Operating Engineers increasing the amount
       of the City's contribution to their pension funds to rates equal
       to nine percent (9%) of the salaries of non-union City employees
0C
      
       so as to reach parity, but not create a windfall benefit based on 

       contribution amount.  The rate of contribution to the Laborers'
       pension fund is to be seventy-one cents ($.71) per hour.  The 
rate
       of contribution to the Operating Engineers' pension fund is to be 

       ninety-two cents ($.92) per hour.  Provided such agreements can 
be
       reached in a timely manner, the effective date of such
       contribution increases is to be retroactive to the first pay
       period after January 1, 1994.
      
       ADOPTED:	 January 4, 1994
      
       JSB:cjc