SUBJECT/RECOMMENDATION:
Title
Recommend approval of the following request of David Clark, Planning & Development Department, John Klinefelter, Fire Department, Gary Martinez, Police Department, Norton McGiffin, Public Works Department, Gabriel Parra, Economic Development & Housing Department, Marvin Pettingill, Fire Department, Terry Swatzell, Parks & Recreation Department, Anita “Lynn” Vincent, Finance Department, and Cheryl Wood, Police Department for a regular pension as provided by Sections 2.416 and 2.424 of the Employees’ Pension Plan.
Body
SUMMARY:
David Clark, Plans Examiner IV, Planning & Development Department, was employed by the City on July 1, 2002, and his pension service credit is effective on that date. His pension will be effective January 1, 2026.
Based on an average salary of approximately $84,066.37 over the past five years, the formula for computing regular pensions and Mr. Clark’s selection of the Single Life Annuity, this pension benefit will be approximately $54,302.28 annually.
John Klinefelter, Fire Division Chief, Fire Department, was employed by the City on June 3, 2002, and his pension service credit is effective on that date. His pension will be effective November 1, 2025.
Based on an average salary of approximately $128,157.36 over the past five years, the formula for computing regular pensions and Mr. Klinefelter’s selection of the 66 2/3% Joint & Survivor Annuity with the 20% partial lump sum, this pension benefit will be approximately $66,252.48 annually.
Gary Martinez, Police Sergeant, Police Department, was employed by the City on May 19, 2003, and his pension service credit is effective on that date. His pension will be effective November 1, 2025.
Based on an average salary of approximately $126,560.55 over the past five years, the formula for computing regular pensions and Mr. Martinez’s selection of the 100% Joint & Survivor Annuity, this pension benefit will be approximately $76,060.08 annually.
Norton McGiffin, Parking Supervisor, Public Works Department, was employed by the City on March 1, 2010, and his pension service credit is effective on February 14, 2011. His pension will be effective October 1, 2025.
Based on an average salary of approximately $53,671.67 over the past five years, the formula for computing regular pensions and Mr. McGiffin’s selection of the Single Life Annuity, this pension benefit will be approximately $21,594.24 annually.
Gabriel Parra, Community Development Coordinator I, Economic Development & Housing Department, was employed by the City on July 14, 2003, and his pension service credit is effective on that date. His pension will be effective October 1, 2025.
Based on an average salary of approximately $74,361.42 over the past five years, the formula for computing regular pensions and Mr. Parra’s selection of the Single Life Annuity, this pension benefit will be approximately $45,426.12 annually.
Marvin Pettingill, Fire Deputy Chief, Fire Department, was employed by the City on May 28, 1996, and his pension service credit is effective on that date. His pension will be effective October 1, 2025.
Based on an average salary of approximately $140,548.34 over the past five years, the formula for computing regular pensions and Mr. Pettingill’s selection of the 50% Joint & Survivor Annuity with the 30% partial lump sum, this pension benefit will be approximately $81,993.36 annually.
Terry Swatzell, Parks Service Technician II, Parks & Recreation Department, was employed by the City on November 17, 2003, and his pension service credit is effective on that date. His pension will be effective December 1, 2025.
Based on an average salary of approximately $40,981.96 over the past five years, the formula for computing regular pensions and Mr. Swatzell’s selection of the 50% Joint & Survivor Annuity, this pension benefit will be approximately $22,992.72 annually.
Anita “Lynn” Vincent, Payroll Technician II, Finance Department, was employed by the City on November 14, 2005, and her pension service credit is effective on that date. Her pension will be effective December 1, 2025.
Based on an average salary of approximately $57,607.65 over the past five years, the formula for computing regular pensions and Ms. Vincent’s selection of the Single Life Annuity, this pension benefit will be approximately $31,688.64 annually.
Cheryl Wood, Police Officer, Police Department, was employed by the City on April 28, 1997, and her pension service credit is effective on that date. Her pension will be effective October 1, 2025.
Based on an average salary of approximately $104,335.13 over the past five years, the formula for computing regular pensions and Ms. Wood’s selection of the Single Life Annuity with the 20% partial lump sum, this pension benefit will be approximately $65,688.12 annually.
Section 2.416 provides for normal retirement eligibility for non-hazardous duty employees hired prior to the effective date of this reinstatement (1/1/13), a member shall be eligible for retirement following the earlier of the date on which a participant has reached the age of fifty-five (55) years and completed twenty (20) years of credited service; the date on which a participant has reached age sixty-five (65) years and completed five (5) years of credited service; or the date on which a member has completed thirty (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 sixty (60) years and completed twenty-five (25) years of credited service; or the date on which a participant has reached the age of sixty-five (65) years and completed five (5) years of credited service. Mr. Clark, Mr. McGiffin, Mr. Parra, Mr. Swatzell, and Ms. Vincent 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 twenty (20) years of credited service regardless of age, or the date on which the participant has reached fifty-five (55) years and completed ten (10) years of credited service. Mr. Klinefelter, Mr. Martinez, Mr. Pettingill, and Ms. Wood have met the hazardous duty criteria.
APPROPRIATION CODE AND AMOUNT:
n/a
USE OF RESERVE FUNDS: n/a