|
|
|
|
|
|
|
|
|
Meeting Date:
|
1/25/2024 - 5:30 PM
|
|
Category:
|
Report of the Committee on Accountability, Finance, and Personnel
|
|
Type:
|
Action
|
|
Subject:
|
8. Action on a Request to Amend the MPS Retirement Plan Committee Charter
|
|
Strategic Plan Compatibility Statement:
|
Goal 3 Effective and Efficient Operations
|
|
Attachments
|
MPS - Retirement Committee Charter Amended - Redline.pdf
MPS - Retirement Committee Charter Amended - Clean.pdf
|
|
File Attachment:
|
|
|
Background:
|
In December 2022, the Milwaukee Board of School Directors approved the establishment of the Retirement Plan Committee, and its guiding charter, to oversee the Milwaukee Public Schools 403(b) Plan, Milwaukee Board of School Directors Supplemental Retirement Plan for Teachers (“Teacher Plan”) and the Milwaukee Board of School Directors Early Retirement Supplement and Benefit Improvement Plan (“Administrators Plan”).
In order to remove ambiguity and establish clearer lines of responsibilities related to the committee's work, the Retirement Plan Committee, with the assistance of the Office of the City Attorney, took action on October 18, 2023 to authorize amending the committee charter.
|
|
Fiscal Impact Statement:
|
There are no expenditures associated with this item.
|
|
Implementation and Assessment Plan
:
|
Upon approval by the Board, the Retirement Plan Committee will operate as set forth in the attachments.
|
|
Recommendation:
|
Your Committee recommends the Board approve the charter amendments as indicated in the attachments.
|
|
Approvals:
|
|
Recommended By:
|
|
Signed By:
|
|
|
Jill Kawala - Interim Director/Board Clerk
|
|
|
|
|
|
|
|
|
|