SUBJECT/RECOMMENDATION:
Title
Approve the following request of Perry Conzen, General Services Department, Nilda Espinosa, Planning & Development Department, Robert Orner, General Services Department, Maria Pita, Police Department, and Christian Zarra, Police Department, for a regular pension as provided by Sections 2.416 and 2.424 of the Employees’ Pension Plan.
Body
SUMMARY:
Perry Conzen, Fleet Division Manager, General Services Department, was employed by the City on January 12, 2004, and his pension service credit is effective on that date. His pension will be effective April 1, 2025. Based on an average salary of approximately $97,060.42 over the past five years, the formula for computing regular pensions and Mr. Conzen’s selection of the 100% Joint and Survivor Annuity, this pension benefit will be approximately $44,639.28 annually.
Nilda Espinosa, Code Inspector I, Planning & Development Department, was employed by the City on May 8, 2000, and her pension service credit is effective on that date. Her pension will be effective February 1, 2025. Based on an average salary of approximately $55,602.10 over the past five years, the formula for computing regular pensions and Ms. Espinosa’s selection of the 10 Year Certain and Life Annuity, this pension benefit will be approximately $34,734.36 annually.
Robert Orner, Fleet Mechanic Supervisor, General Services Department, was employed by the City on September 24, 2012, and his pension service credit is effective on that date. His pension will be effective May 1, 2025. Based on an average salary of approximately $63,846.74 over the past five years, the formula for computing regular pensions and Mr. Orner’s selection of the 50% Joint and Survivor Annuity, this pension benefit will be approximately $17,997.48 annually.
Maria Pita, Police Officer, Police Department, was employed by the City on October 25, 2010, and her pension service credit is effective on that date. Her pension will be effective February 1, 2025. Based on an average salary of approximately $92,885.74 over the past five years, the formula for computing early retirement pensions and Ms. Pita’s selection of the 50% Joint and Survivor Annuity, this pension benefit will be approximately $28,579.92 annually.
Christian Zarra, Police Sergeant, Police Department, was employed by the City on July 21, 1997, and his pension service credit is effective on that date. His pension will be effective February 1, 2025. Based on an average salary of approximately $147,006.17 over the past five years, the formula for computing regular pensions and Mr. Zarra’s selection of the Joint and Survivor Annuity with the 30% partial lump sum, this pension benefit will be approximately $78,380.52 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 55 years and completed 20 years of credited service; the date on which a participant has reached age 65 years and completed five 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 five years of credited service. Mr. Conzen, Ms. Espinosa, and Mr. Orner 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. Ms. Pita and Mr. Zarra have met the hazardous duty criteria.
APPROPRIATION CODE AND AMOUNT: N/A
USE OF RESERVE FUNDS: N/A