The City and the Union acknowledge Sample Clauses

The City and the Union acknowledge that the City’s mandatory retirement system is administered, supervised, and managed by a Board of Trustees accountable as fiduciaries to employee members of the retirement system. The Board of Trustees is not a party to this Agreement. The retirement system includes a Deferred Retirement Option Plan (DROP) and an Actuarially Calculated Deferred Retirement Option Program as set forth in City Ordinance No. C-96-59. The City and Union, therefore, agree that the terms of the retirement system shall not be incorporated into this Agreement and that no dispute arising from the interpretation or application of the retirement system or any decision of the Board of Trustees shall be subject to the grievance/arbitration provision of this Agreement. Likewise, matters which are determined or reviewed by the Board of Trustees of the Police and Fire Retirement System and any matters involving the interpretation of ordinances or statutes governing the retirement system shall not be within the jurisdiction of or subject to the grievance/arbitration procedure established in this agreement.
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