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City of Dewey

Posted: Nov 19, 2019 12:17 PMUpdated: Nov 19, 2019 12:43 PM

Defined Benefit Plan for Employee Retirement Amended

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Garrett Giles

The City of Dewey has amended an ordinance in the Employee Retirement System’s defined benefit plan.

On Monday, the Dewey City Council voted unanimously to make the changes to the plan.

City Manager Kevin Trease said there was a letter from McAfee & Taft  in the packets given to other members of the Council that was addressed to the Oklahoma Municipal Retirement Fund. He said there were three pages worth of changes, most of which concerned the wording for the re-employment of employees into another municipality, severance benefits, and the definition of retirement. He said the IRS wanted corrections and required the changes.

The Council approved an emergency clause that put the changes into effect immediately.

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