The Kennesaw City Council agreed Tuesday to restrict retirement plan rules for elected officials but relax them for city employees.
Elected officials will not be vested until after four years, or the start of the second term, instead of immediately.
For city employees, the vesting period will be decreased from ten years to five years.
The Net Pension Liability will be “a negligible impact” of $4,469,320, according to an actuarial report prepared for the city.
The pension plans are administered by the Georgia Municipal Association.
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