ORDINANCE NO. _______, SERIES 2023
TITLE
AN ORDINANCE AMENDING THE LOUISVILLE METRO CODE OF ORDINANCES SECTION 32.130 REGARDING THE ADMINISTRATION OF THE POLICEMEN'S RETIREMENT FUND.
BODY
SPONSORED BY: COUNCIL MEMBER PAT MULVIHILL
WHEREAS, Metro Council wishes to amend the Louisville Metro Code of Ordinances ("LMCO") Section 32.130 to provide for the proper operation of the Fund with an aging population of members of the Policemen's Retirement Fund; and so as to allow certain persons in addition to those receiving fund benefits to serve on the Board.
NOW, THEREFORE, BE IT ORDAINED BY THE LEGISLATIVE COUNCIL OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT AS FOLLOWS:
SECTION I: Louisville Metro Code of Ordinances ("LMCO") Chapter 32 is hereby amended as follows:
32.130 BOARD OF TRUSTEES: MEMBERS.
(A) The responsibility for the proper operation of the Fund and the direction of its policies shall be vested in a Board of Trustees of six members. The majority of the Board of Trustees shall be comprised of persons members and widows and widowers of members, who are married at the time of retirement, receiving pension benefits from the Policemen's Retirement Fund. One board member may be a person who has reached 18 years of age and of sound mind and (1) who is either a descendant or legal guardian of a current member, or (2) who holds power of attorney on behalf of the current member. For purposes of this section "descendant" means a person born in a direct biological line, stepchildren or adopted children. The Board of Trustees shall consist of a member of the Louisville/Jefferson County Metro Government Council ex officio to be appointed by the President of the Council and five elected members trustees of the Fund, all of whom shall be elected by the members and widows and widowers of members pursuant to election procedures and policies to be established by the Board of Trustees. All terms of office shall be for a term of four years. The desce...
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