SUBJECT/RECOMMENDATION:
Title
Approve the following request of employees Amelia Adams, Financial and Budget Operations Department, Richard Garbe, Gas Department, Ricky Hess, Engineering Department, Randy Higgins, Engineering Department, William Howard, Public Utilities Department, Andre Lambert, Engineering Department, Jean Louis, IT Department, Donald Magness, Fire Department, Trevor Murray, Fire Department, Kevin O’Neill, Fire Department and David Powers, Solid Waste and General Services Department, for a regular pension as provided by Sections 2.416 and 2.424 of the Employees’ Pension Plan.
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SUMMARY:
Amelia Adams, Senior Accounting Technician, Financial and Budget Operations Department, was employed by the City on January 31, 2011 and her pension service credit is effective on that date. Her pension will be effective March 1, 2021. Based on an average salary of approximately $32,738.16 over the past five years, the formula for computing regular pensions and Ms. Adams’ selection of the Life Annuity, this pension benefit will be approximately $9,068.04 annually.
Richard Garbe, Gas System Specialist, Gas Department, was employed by the City on January 13, 1992 and his pension service credit is effective on that date. His pension will be effective February 1, 2021. Based on an average salary of approximately $77,071.77 over the past five years, the formula for computing regular pensions and Mr. Garbe’s selection of the 75% Joint and Survivor, this pension benefit will be approximately $61,857.24 annually.
Ricky Hess, Environmental Code Enforcement Inspector, Engineering Department, was employed by the City on July 22, 1996 and his pension service credit is effective on that date. His pension will be effective February 1, 2021. Based on an average salary of approximately $55,800.76 over the past five years, the formula for computing regular pensions and Mr. Hess’ selection of the 100% Joint and Survivor Annuity, this pension benefit will be approximately $33,795.12 annually.
Randy Higgins, Stormwater Heavy Equip Operator, Engineering Department, was employed by the City on May 24, 1999 and his pension service credit is effective on that date. His pension will be effective May 1, 2021. Based on an average salary of approximately $41,469.16 over the past five years, the formula for computing regular pensions and Mr. Higgins’ selection of the Life Annuity, this pension benefit will be approximately $25,016.04 annually.
William Howard, Wastewater Treatment Plant Operator A, Public Utilities Department, was employed by the City on February 28, 2011 and his pension service credit is effective on that date. His pension will be effective March 1, 2021. Based on an average salary of approximately $46,631.97 over the past five years, the formula for computing regular pensions and Mr. Howard’s selection of the 100% Joint and Survivor Annuity, this pension benefit will be approximately $10,867.32 annually.
Andre Lambert, Traffic Sign and Marking Tech, Engineering Department, was employed by the City on September 5, 1995 and his pension service credit is effective on that date. His pension will be effective March 1, 2021. Based on an average salary of approximately $54,639.53 over the past five years, the formula for computing regular pensions and Mr. Lambert’s selection of the 100% Joint and Survivor Annuity with a 30% partial lump sum, this pension benefit will be approximately $23,399.40 annually.
Jean Louis, Sr Systems Programmer, IT Department, was employed by the City on February 14, 2011, and his pension service credit is effective on that date. His pension will be effective March 1, 2021. Based on an average salary of approximately $67,454.02 over the past five years, the formula for computing regular pensions and Mr. Louis’ selection of the 10 Year Certain and Life Annuity, this pension benefit will be approximately $17,275.44 annually.
Donald Magness, Fire District Commander, Fire Department, was employed by the City on January 23, 2006 and his pension service credit is effective on that date. His pension will be effective March 1, 2021. Based on an average salary of approximately $121,219.61 over the past five years, the formula for computing regular pensions and Mr. Magness’ selection of the 100% Joint and Survivor Annuity, this pension benefit will be approximately $49,003.20 annually.
Trevor Murray, Fire Medic, Fire Department, was employed by the City on July 24, 1995 and his pension service credit is effective on that day. His pension will be effective February 1, 2021. Based on an average salary of approximately $86,643.23 over the past five years, the formula for computing regular pensions and Mr. Murray’s selection of the 100% Joint and Survivor Annuity with a 20% partial lump sum, this pension benefit will be approximately $47,341.68 annually.
Kevin O’Neill, Fire District Commander, Fire Department, was employed by the City on January 23, 2006, and his pension service credit is effective on that date. His pension will be effective April 1, 2021. Based on an average salary of approximately $115,744.26 over the past five years, the formula for computing regular pensions and Mr. O’Neill’s selection of the 100% Joint and Survivor Annuity, this pension benefit will be approximately $46,828.68 annually.
David Powers, Division Controller, Solid Waste and Recycling Department, was employed by the City on June 4, 1998 and his pension service credit is effective on October 11, 1999. His pension will be effective April 1, 2021. Based on an average salary of approximately $74,177.50 over the past five years, the formula for computing regular pensions and Mr. Powers’ selection of the 100% Joint and Survivor Annuity, this pension benefit will be approximately $35,479.92 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. Ms. Adams, Mr. Garbe, Mr. Hess, Mr. Higgins, Mr. Howard, Mr. Lambert, Mr. Louis, and Mr. Powers 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. Magness, Mr. Murray and Mr. O’Neill have met the hazardous duty criteria.
APPROPRIATION CODE AND AMOUNT:
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USE OF RESERVE FUNDS:
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