SUBJECT/RECOMMENDATION:
Title
Approval of the following requests of Priscilla Murphy, Public Utilities Department, Craig Murray, Police Department, Patricia Stephen-Zitouni, City Clerk’s Office, Karen Vaughan, City Clerk’s Office, and Jeffrey Walker, Public Works Department for a regular pension as provided by Sections 2.416 and 2.424 of the Employees’ Pension Plan.
Body
SUMMARY:
Priscilla Murphy, Payroll Technician I, Public Utilities Department, was employed by the City on August 17, 2010, and her pension service credit is effective on September 26, 2011. Her pension will be effective July 1, 2026.
Based on an average salary of approximately $46,233.33 over the past five years, the formula for computing regular pensions, and Ms. Murphy’s selection of the Single Life Annuity, this pension benefit will be approximately $18,742.80 annually.
Craig Murray, Police Sergeant, Police Department, was employed by the City on August 19, 1996, and his pension service credit is effective on that date. His pension will be effective September 1, 2026.
Based on an average salary of approximately $133,972.22 over the past five years, the formula for computing regular pensions, and Mr. Murray’s selection of the 100% Joint & Survivor Annuity, this pension benefit will be approximately $105,614.52 annually.
Patricia Stephen-Zitouni, Documents & Records Specialist, City Clerk’s Office, was employed by the City on November 1, 2004, and her pension service credit is effective on December 11, 2004. Her pension will be effective September 1, 2026.
Based on an average salary of approximately $71,268.83 over the past five years, the formula for computing regular pensions, and Ms. Stephen-Zitouni’s selection of the Single Life Annuity, this pension benefit will be approximately $42,448.08 annually.
Karen Vaughan, Administrative Assistant, City Clerk’s Office, was employed by the City on February 14, 2005, and her pension service credit is effective on that date. Her pension will be effective September 1, 2026.
Based on an average salary of approximately $66,997.59 over the past five years, the formula for computing regular pensions, and Ms. Vaughan’s selection of the Single Life Annuity, this pension benefit will be approximately $39,699.36 annually.
Jeffrey Walker, Engineer II, Public Works Department, was employed by the City on June 14, 2004, and his pension service credit is effective on that date. His pension will be effective August 1, 2026.
Based on an average salary of approximately $109,568.30 over the past five years, the formula for computing regular pensions, and Mr. Walker’s selection of the 100% Joint & Survivor Annuity, this pension benefit will be approximately $54,116.88 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. Ms. Murphy, Ms. Stephen-Zitouni, Ms. Vaughan, and Mr. Walker 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. Murray has met the hazardous duty criteria.
APPROPRIATION CODE AND AMOUNT:
n/a
USE OF RESERVE FUNDS: n/a