SUBJECT/RECOMMENDATION:
Title
Approve the following request of Jeffrey Harris, Information Technology Department, Tim Hulburt, Solid Waste and Recycling Department, Robert McKnight, Solid Waste and Recycling Department, John “Jack” Sadowski, Public Utilities Department, Daniel Slaughter, Police Department, Patricia Sullivan, City Clerk’s Office, and William Taggart, Police Department, for a regular pension as provided by Sections 2.416 and 2.424 of the Employees’ Pension Plan.
Body
SUMMARY:
Jeffrey Harris, Senior Systems Programmer, Information Technology Department, was employed by the City on November 12, 1996, and his pension service credit is effective on that date. His pension will be effective July 1, 2023. Based on an average salary of approximately $91,600.36 over the past five years, the formula for computing regular pensions and Mr. Harris’ selection of the Single Life Annuity, this pension benefit will be approximately $66,900.72 annually.
Tim Hulburt, Solid Waste Worker, Solid Waste & Recycling Department, was employed by the City on April 29, 1996, and his pension service credit is effective on that date. His pension will be effective September 1, 2023. Based on an average salary of approximately $44,908.13 over the past five years, the formula for computing regular pensions and Mr. Hulburt’ s selection of the 50% Joint and Survivor Annuity, this pension benefit will be approximately $29,946.48 annually.
Robert McKnight, Solid Waste Equipment Operator, Solid Waste & Recycling Department, was employed by the City on June 16, 2003, and his pension service credit is effective on that date. His pension will be effective July 1, 2023. Based on an average salary of approximately $46,766.49 over the past five years, the formula for computing regular pensions and Mr. McKnight’s selection of the Single Life Annuity, this pension benefit will be approximately $25, 775.16 annually.
John “Jack” Sadowski, Wstwtr Trtmnt Plant Chief OP, Public Utilities Department, was employed by the City on March 5, 2007, and his pension service credit is effective on that date. His pension will be effective June 1, 2023. Based on an average salary of approximately $63,768.49 over the past five years, the formula for computing regular pensions and Mr. Sadowski’s selection of the 100% Joint and Survivor Annuity, this pension benefit will be approximately $24,539.28 annually.
Daniel Slaughter, Police Chief, Police Department, was employed by the City on October 19, 1992, and his pension service credit is effective on that date. His pension will be effective June 1, 2023. Based on an average salary of approximately $157,059.26 over the past five years, the formula for computing regular pensions and Mr. Slaughters’ selection of the 100% Joint and Survivor Annuity, this pension benefit will be approximately $128,997.12 annually.
Patricia Sullivan, Board Reporter, City Clerk’s Office was employed by the City on December 13, 1993, and her pension service credit is effective on February 7, 1994. Her pension will be effective May 1, 2023. Based on an average salary of approximately $48,407.74 over the past five years, the formula for computing regular pensions and Ms. Sullivan’s selection of the Single Life Annuity, this pension benefit will be approximately $38,893.56 annually.
William Taggart, Police Service Technician, Police Department, was employed by the City on September 16, 1991, and his pension service credit is effective on that date. His pension will be effective August 1, 2023. Based on an average salary of approximately $55,686.44 over the past five years, the formula for computing regular pensions and Mr. Taggart’s selection of the 100% Joint and Survivor Annuity, this pension benefit will be approximately $42,379.92 annually.
Section 2.416 provides for normal retirement eligibility for non-hazardous duty employees hired prior to the effective date of this reinstatement (January 1, 2013), a member shall be eligible for retirement following the earlier of the date on which a participant has reached the age of 55 years and completed 20 years of credited service; the date on which a participant has reached age 65 years and completed ten years of credited service; or the date on which a member has completed 30 years of service regardless of age. For non-hazardous duty employees hired on or after the effective date of this restatement, a member shall be eligible for retirement following the earlier of the date on which a participant has reached the age of 60 years and completed 25 years of credited service; or the date on which a participant has reached the age of 65 years and completed ten years of credited service. Mr. Harris, Mr. Hulburt, Mr. McKnight, Mr. Sadowski, Ms. Sullivan, and Mr. Taggart have met the non-hazardous duty criteria.
Section 2.416 provides for normal retirement eligibility for hazardous duty employees, a member shall be eligible for retirement following the earlier of the date on which the participant has completed 20 years of credited service regardless of age, or the date on which the participant has reached 55 years and completed ten years of credited service. Mr. Slaughter has met the hazardous duty criteria.
APPROPRIATION CODE AND AMOUNT: N/A
USE OF RESERVE FUNDS: N/A