A RESOLUTION TO ESTABLISH A VIRGINIA RETIREMENT SYSTEM
RETIREMENT MULTIPLIER OF 1.85% FOR LEOS
(POLITICAL SUBDIVISION – SECTION 138 COVERED EMPLOYEES)
WHEREAS, by resolution legally adopted and approved by the Board, Fauquier County, a political subdivision, participates in the Virginia Retirement System under § 51.1-130 of the Code of Virginia, as amended; and
WHEREAS, by resolution or resolutions legally adopted and approved by the Board, Fauquier County has elected to provide the enhanced benefits describe in § 51.1-138, subsection B to selected public safety employee groups, such benefits being referred to collectively as “Section 138 Coverage;” and
WHEREAS, the Virginia General Assembly passed legislation effective July 1, 2007, allowing Fauquier County to elect to provide for its employees with Section 138 Coverage a retirement allowance equal to the amount of creditable service multiplied by 1.85 percent of average final compensation as provided in clause (ii) in subsection A (1) of § 51.1-206 (the “1.85 multiplier”); and
WHEREAS, Fauquier County desires to make this irrevocable election and provide the 1.85 multiplier to its employees that now have, or may in the future be given, Section 138 Coverage; now, therefore, be it
RESOLVED by the Fauquier County Board of Supervisors this 11th day of October 2007, That Fauquier County elects to establish the 1.85 Multiplier for all employees who are now, or who may be in the future, provided Section 138 Coverage; and, be it
RESOLVED FURTHER, That Fauquier County agrees to pay the employer cost for providing the 1.85 Multiplier to all employees who are now, or who may be in the future, provided Section 138 Coverage, pursuant to this irrevocable election; and, be it
RESOLVED FURTHER, that Paul S. McCulla, County Administrator and Clerk to the Board of Supervisors, is authorized and directed in the name of Fauquier County to execute any required contract to carry out this irrevocable election, and to do any other thing, or things, incident and necessary in the lawful conclusion of this matter; and, be it
RESOLVED FURTHER, That the seal of Fauquier County shall be affixed to any such contract and attested by the Clerk; and, be it
RESOLVED FINALLY, That the Treasurer of Fauquier County is authorized and directed to pay over to the Treasurer of Virginia from time to time such sums as may be required to be paid by Fauquier County or its employees for this purpose.
I, Paul S. McCulla, Clerk to the Board of Supervisors for Fauquier County, certify that the foregoing is a true and correct copy of the resolution passed at a lawfully organized meeting of the Fauquier County governing body held at 10 Hotel Street, Warrenton, VA at six-thirty p.m. on October 11, 2007.
Given under my hand and seal of Fauquier County this ____ day of ____________________, 2007.