SUBJECT/RECOMMENDATION:
Title
Approve the following request of employees Allison Cox, Parks and Recreation Department, Suzanne Hamilton, Library Department and Barry LeCavalier, Public Utilities Department, to vest their pensions as provided by Section 2.419 of the Employees’ Pension Plan.
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SUMMARY:
Allison Cox, Parks Service Technician II, Parks and Recreation Department, was employed by the City on December 15, 2003, and began participating in the Pension Plan on that date. Ms. Cox terminated from City employment on May 12, 2016.
Suzanne Hamilton, Sr. Library Assistant, Library Department, was employed by the City on January 27, 2001, and began participating in the Pension Plan on that date. Ms. Hamilton will terminate from City employment on September 30, 2016.
Barry LeCavalier, Senior Utilities Chemist, Public Utilities Department, was employed by the City on July 11, 2005, and began participating in the Pension Plan on that date. Mr. LeCavalier terminated from City employment on August 26, 2016.
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 ten or more years 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 (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 fifty-five years and completed twenty years of credited service; the date on which a participant has reached age sixty-five years and completed ten years of credited service; or the date on which a member has completed thirty 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 years and completed twenty-five years of credited service; or the date on which a participant has reached the age of sixty-five years and completed ten years of credited service. Ms. Cox will meet the non-hazardous duty criteria and begin collecting a pension in January 2024. Ms. Hamilton will meet the non-hazardous duty criteria and begin collecting a pension in August 2018. Mr. LeCavalier will meet the non-hazardous duty criteria and begin collecting a pension in December 2033.
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 years of credited service regardless of age, or the date on which the participant has reached fifty-five years and completed ten years of credited service.
APPROPRIATION CODE AND AMOUNT:
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USE OF RESERVE FUNDS:
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