SUBJECT/RECOMMENDATION:
Title
Approve the following request of employees Reinaldo Alequin, Finance Department, Steve Berenguer, Public Utilities, Thomas Chaplinsky Jr, Solid Waste, Scott Fowler, Police Department, Andrew Hawkins, Fire Department, Michael Kachurik, Theodore Miller III, Police Department, Stephen Reid, Engineering Department, Kerri Spaulding, Police Department, Stephanie Vilar, Police Department and David Yawn, Fire Department for a regular pension as provided by Sections 2.416, 2.417 and 2.424 of the Employees’ Pension Plan.
Body
SUMMARY:
Reinaldo Alequin, Senior Accountant, Finance Department, was employed by the City on October 29, 2007, and his pension service credit is effective on that date. His pension will be effective November 1, 2020. Based on an average salary of approximately $54,789.85 over the past five years, the formula for computing regular pensions and Mr. Alequin’s selection of the Life Annuity, this pension benefit will be approximately $19,595.64 annually.
Steve Berenguer, Utilities Maintenance Foreman, Public Utilities Department, was employed by the City on August 16, 1999, and his pension service credit is effective on that date. His pension will be effective September 1, 2020. Based on an average salary of approximately $44,832.29 over the past five years, the formula for computing regular pensions and Mr. Berenguer’s selection of the 100% Joint and Survivor Annuity, this pension benefit will be approximately $22,640.64 annually.
Thomas Chaplinsky Jr, Skilled Tradesworker, Solid Waste Department, was employed by the City on November 9, 1998, and his pension service credit is effective on that date. His pension will be effective November 1, 2020. Based on an average salary of approximately $40,126.78 over the past five years, the formula for computing regular pensions and Mr. Chaplinsky’s selection of the 100% Joint and Survivor Annuity, this pension benefit will be approximately $21,491.40 annually.
Scott Fowler, Police Officer, Police Department, was employed by the City on December 16, 2002, and his pension service credit is effective October 24, 2003. His pension will be effective November 1, 2020. Based on an average salary of approximately $85,197.71 over the past five years, the formula for computing regular pensions and Mr. Fowler’s selection of the 100% Joint and Survivor Annuity, this pension benefit will be approximately $34,401.00 annually.
Andrew Hawkins, Fire Division Chief, Fire Department, was employed by the City on October 4, 1999, and his pension service credit is effective on that date. His pension will be effective November 1, 2020. Based on an average salary of approximately $103,504.41 over the past five years, the formula for computing regular pensions and Mr. Hawkins’ selection of the 100% Joint and Survivor Annuity with a 30% partial lump sum, this pension benefit will be approximately $41,377.20 annually.
Michael Kachurik, Police Sergeant, Police Department, was employed by the City on September 24, 1990, and his pension service credit is effective on that date. His pension will be effective October 1, 2020. Based on an average salary of approximately $108,684.77 over the past five years, the formula for computing regular pensions and Mr. Kachurik’s selection of the 100% Joint and Survivor Annuity with a 20% partial lump sum, this pension benefit will be approximately $70,588.68 annually.
Theodore Miller III, Police Officer, Police Department, was employed by the City on April 29, 1996, and his pension service credit is effective on that date. His pension will be effective November 1, 2020. Based on an average salary of approximately $99,773.36 over the past five years, the formula for computing regular pensions and Mr. Miller’s selection of the 100% Joint and Survivor Annuity, this pension benefit will be approximately $65,107.08 annually.
Stephen Reid, Survey Crew Leader, Engineering Department, was employed by the City on October 31, 1994, and his pension service credit is effective on that date. His pension will be effective November 1, 2020. Based on an average salary of approximately $48,284.70 over the past five years, the formula for computing regular pensions and Mr. Reid’s selection of the 100% Joint and Survivor Annuity, this pension benefit will be approximately $30,142.08 annually.
Kerri Spaulding, Police Sergeant, Police Department, was employed by the City on October 9, 2000, and her pension service credit is effective on that date. Her pension will be effective November 1, 2020. Based on an average salary of approximately $94,557.12 over the past five years, the formula for computing regular pensions and Ms. Spaulding’s selection of the Life Annuity, this pension benefit will be approximately $53,863.80 annually.
Stephanie Vilar, Police Sergeant, Police Department, was employed by the City on December 20, 1999, and her pension service credit is effective on that date. Her pension will be effective October 1, 2020. Based on an average salary of approximately $78,917.48 over the past five years, the formula for computing regular pensions and Ms. Vilar’s selection of the Life Annuity, this pension benefit will be approximately $45,164.16 annually.
David Yawn, Fire District Commander, Fire Department, was employed by the City on July 19, 1999, and his pension service credit is effective on that date. His pension will be effective November 1, 2020. Based on an average salary of approximately $117,720.33 over the past five years, the formula for computing regular pensions and Mr. Yawn’s selection of the 75% Joint and Survivor Annuity with a 30% partial lump sum, this pension benefit will be approximately $47,874.96 annually.
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. Mr. Alequin, Mr. Berenguer, Mr. Chaplinsky and Mr. Reid 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 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. Mr. Hawkins, Mr. Kachurik, Mr. Miller, Ms. Spaulding, Ms. Vilar and Mr. Yawn have met the hazardous duty criteria.
Section 2.417 provides for an early retirement benefit for police officer and firefighter participants shall be determined in accordance with the provisions of<https://library.municode.com/fl/clearwater/codes/code_of_ordinances?nodeId=SPAGEOR_CH2AD_ARTVEMBE_DIV3EMPEPL_S2.416NOREBE>Section 2.416, and the amount of such benefit otherwise payable shall be reduced by three percent per year for each year or portion thereof under the age of 55 upon retirement. Mr. Fowler has met the hazardous duty criteria.
APPROPRIATION CODE AND AMOUNT:
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USE OF RESERVE FUNDS:
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