Difference between revisions of "Oak Park City Public Safety Retirement System Proposal (November 2012)"

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A '''Oak Park City Public Safety Retirement System''' proposal was on the [[November 6, 2012 ballot measures in Michigan|November 6, 2012 election ballot]] in [[Oakland County, Michigan ballot measures|Oakland County]], which is in [[Michigan]].
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A '''Oak Park City Public Safety Retirement System''' proposal was on the [[November 6, 2012 ballot measures in Michigan|November 6, 2012 election ballot]] in [[Oakland County, Michigan ballot measures|Oakland County]], which is in [[Michigan]], where it was '''approved'''.
  
 
Summary and information:
 
Summary and information:
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{{Quote|This proposal, if approved, will allow the City of Oak Park to create a separate retirement system for public safety officers pursuant to Act 345 of 1937, create a board of trustees to manage and operate that retirement system, and levy taxes in an amount not to exceed seven (7) mills per year for a period of seven (7) years to fund that retirement system in an ctuarially sound manner.<ref name=Oak>[http://www.oakgov.com/clerkrod/elections/Documents/nov_2012_combined_.pdf "Oakland County Elections", "Candidate and Proposals List"]</ref>}}
 
{{Quote|This proposal, if approved, will allow the City of Oak Park to create a separate retirement system for public safety officers pursuant to Act 345 of 1937, create a board of trustees to manage and operate that retirement system, and levy taxes in an amount not to exceed seven (7) mills per year for a period of seven (7) years to fund that retirement system in an ctuarially sound manner.<ref name=Oak>[http://www.oakgov.com/clerkrod/elections/Documents/nov_2012_combined_.pdf "Oakland County Elections", "Candidate and Proposals List"]</ref>}}
  
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==Election results==
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{{Short outcome
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| title = Oak Park City Proposal
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| yes = 7,540
 +
| yespct = 53.62
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| no = 6,523
 +
| nopct = 46.38
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| image = {{approved}}
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| unresolved =
 +
}}
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''Election results from [http://results.enr.clarityelections.com/MI/Oakland/43747/113256/en/summary.html Oakland County Election Results]''
  
 
==Text of measure==
 
==Text of measure==

Revision as of 01:24, 23 November 2012

Voting on Pensions
Pension.jpg
Policy
Pension policy
Ballot Measures
By state
By year
Not on ballot

A Oak Park City Public Safety Retirement System proposal was on the November 6, 2012 election ballot in Oakland County, which is in Michigan, where it was approved.

Summary and information:

This proposal, if approved, will allow the City of Oak Park to create a separate retirement system for public safety officers pursuant to Act 345 of 1937, create a board of trustees to manage and operate that retirement system, and levy taxes in an amount not to exceed seven (7) mills per year for a period of seven (7) years to fund that retirement system in an ctuarially sound manner.[1][2]

Election results

Oak Park City Proposal
ResultVotesPercentage
Approveda Yes 7,540 53.62%
No6,52346.38%

Election results from Oakland County Election Results

Text of measure

Language on the ballot:

Shall the City of Oak Park, Oakland County, Michigan, be authorized to establish a separate retirement system pursuant to Act 345 of 1937, as amended, for the benefit of public safety officers employed by the City, create a board of trustees to manage and operate the system and be authorized to levy a new tax annually in an amount sufficient to fund the system in an actuarially sound manner, but not to exceed Seven (7.00) mills in any year on each dollar ($7.00 per $1,000) of the taxable value of all property in the City, for a period of seven (7) years, from 2013 through 2019, inclusive? It is expected that approximately Six and one-half (6.5) mills will be levied in 2013 and will raise the sum of approximately Two Million Eight Hundred Eight Thousand ($2,808,000.00) Dollars. A portion of the revenue collected may be subject to capture by the City of Oak Park Brownfield Redevelopment Authority.[1][2]

See also


References

  1. 1.0 1.1 "Oakland County Elections", "Candidate and Proposals List"
  2. 2.0 2.1 Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.