SUBJECT/RECOMMENDATION:
Title
Recommend approval of the following request of employee Michael Beaver, Police Department and Andrew Sullivan, Fire Department, to vest their pension as provided by Section 2.419 of the Employees’ Pension Plan.
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SUMMARY:
Micheal Beaver, Police Sergeant, Police Department, was employed by the City on February 27, 2012, and his pension service credit is effective on that date. Mr. Beaver terminated from City employment on October 3, 2025.
Andrew Sullivan, Fire Inspector II, Fire Department, was employed by the City on April 6 2015, and his pension service credit is effective on that date. Mr. Sullivan terminated from City employment on September 5, 2025.
The Employees’ Pension Plan provides that should an employee cease to be an employee of the City of Clearwater or change status from full-time to part-time after completing five or more years (non-hazardous duty) and ten or more years (hazardous duty) of creditable service (pension participation), such employee shall acquire a vested interest in the retirement benefits. Vested pension payments commence on the first of the month following the month in which the employee normally would have been eligible for retirement.
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.
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. Beaver will meet the hazardous duty criteria and begin collecting a pension in March of 2032. Mr. Sullivan will meet the hazardous duty criteria and begin collecting a pension in May of 2035
APPROPRIATION CODE AND AMOUNT:
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USE OF RESERVE FUNDS:
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