SUBJECT/RECOMMENDATION:
Title
Approve the following request of employees Steven Cook, Parks and Recreation Department, Scott Durivou, Police Department, William Hodgson, Police Department, Rosanne Lacey, Library Department, William Muniz, Fire Department, Michael Olesh, Public Utilities Department, Janice Overby, Public Utilities Department, Charles Scrivens, Parks and Recreation Department, Scott Smith, Customer Service Department, Karen Smoak, Customer Service Department, David Taggart, Engineering Department, Clement Vericker, Finance Department, James Wagner, Planning and Development Department, and Aundra William, Solid Waste and Recycling Department for a regular pension as provided by Sections 2.416 and 2.424 of the Employees’ Pension Plan.
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SUMMARY:
Steven Cook, Senior Parks Service Tech, Parks and Recreation Department, was employed by the City on December 11, 1995, and his pension service credit is effective on that date. His pension will be effective August 1, 2021. Based on an average salary of approximately $41,915.47 over the past five years, the formula for computing regular pensions and Mr. Cook’s selection of the 50% Joint and Survivor Annuity, this pension benefit will be approximately $25,571.44 annually.
Scott Durivou, Police Officer, Police Department, was employed by the City on July 16, 2001, and his pension service credit is effective on that date. His pension will be effective August 1, 2021.
Based on an average salary of approximately $90,837.91 over the past five years, the formula for computing regular pensions and Mr. Durivou’s selection of the 100% Joint and Survivor Annuity, this pension benefit will be approximately $48,943.08 annually.
William Hodgson, Police Sergeant, Police Department, was employed by the City on June 9, 1997, and his pension service credit is effective on that date. His pension will be effective October 1, 2021. Based on an average salary of approximately $107,803.78 over the past five years, the formula for computing regular pensions and Mr. Hodgson’s selection of the 100% Joint and Survivor Annuity with a 30% partial lump sum, this pension benefit will be approximately $49,279.08 annually.
Rosanne Lacey, Senior Staff Assistant, Library Department, was employed by the City on April 18, 2005, and her pension service credit is effective on that date. Her pension will be effective October 1, 2021. Based on an average salary of approximately $37,632.52 over the past five years, the formula for computing regular pensions and Ms. Lacey’s selection of the Life Annuity, this pension benefit will be approximately $17,009.64 annually.
William Muniz, Fire Lieutenant, Fire Department, was employed by the City on April 17, 2000, and his pension service credit is effective on June 27, 2000. His pension will be effective August 1, 2021. Based on an average salary of approximately $94,548.37 over the past five years, the formula for computing regular pensions and Mr. Muniz’s selection of the 10 Year Certain and Life Annuity with a 30% partial lump sum, this pension benefit will be approximately $38,388.12 annually.
Michael Olesh, Water Quality Technician, Public Utilities Department, was employed by the City on February 11, 1991, and his pension service credit is effective on September 11, 1991. His pension will be effective August 1, 2021. Based on an average salary of approximately $54,650.76 over the past five years, the formula for computing regular pensions and Mr. Olesh’s selection of the 50% Joint and Survivor Annuity, this pension benefit will be approximately $47,296.44 annually.
Janice Overby, Utilities Chemist, Public Utilities Department, was employed by the City on May 31, 2005, and her pension service credit is effective on that date. Her pension will be effective August 1, 2021. Based on an average salary of approximately $50,085.88 over the past five years, the formula for computing regular pensions and Ms. Overby’s selection of the Life Annuity, this pension benefit will be approximately $22,213.20 annually.
Charles Scrivens, Parks Service Technician II, Parks and Recreation Department, was employed by the City on November 29, 2004, and his pension service credit is effective on that date. His pension will be effective January 1, 2022. Based on an average salary of approximately $35,635.41 over the past five years, the formula for computing regular pensions and Mr. Scrivens’ selection of the 100% Joint and Survivor Annuity, this pension benefit will be approximately $13,124.04 annually.
Scott Smith, Customer Service Supervisor, Customer Service Department, was employed by the City on April 19, 1999, and his pension service credit is effective on that date. His pension will be effective May 1, 2022. Based on an average salary of approximately $65,538.10 over the past five years, the formula for computing regular pensions and Mr. Smith’s selection of the 100% Joint and Survivor Annuity, this pension benefit will be approximately $33,778.92 annually.
Karen Smoak, Customer Service Specialist, Customer Service Department, was employed by the City on September 16, 1985 and her pension service credit is effective on that date. Her pension will be effective October 1, 2021. Based on an average salary of approximately $49,625.37 over the past five years, the formula for computing regular pensions and Ms. Smoak’s selection of the Life Annuity, this pension benefit will be approximately $49,185.96 annually.
David Taggart, Traffic Signal Technician, Engineering Department, was employed by the City on February 29, 1988, and his pension service credit is effective on that date. His pension will be effective December 1, 2021. Based on an average salary of approximately $61,112.26 over the past five years, the formula for computing regular pensions and Mr. Taggart’s selection of the 100% Joint and Survivor Annuity, this pension benefit will be approximately $48,055.20 annually.
Clement Vericker, Debt and Accounting Manager, Finance Department, was employed by the City on February 9, 2004, and his pension service credit is effective on that date. His pension will be effective September 1, 2021. Based on an average salary of approximately $72,819.03 over the past five years, the formula for computing regular pensions and Mr. Vericker’s selection of the Life Annuity this pension benefit will be approximately $35,149.92 annually.
James Wagner, Senior Development Review Technician, Planning and Development Department, was employed by the City on April 23, 2001, and his pension service credit is effective on that date. His pension will be effective October 1, 2021. Based on an average salary of approximately $43,275.44 over the past five years, the formula for computing regular pensions and Mr. Wagner’s selection of the 75% Joint and Survivor Annuity this pension benefit will be approximately $18,489.48 annually.
Aundra Williams, Solid Waste Equipment Operator, Solid Waste and Recycling Department, was employed by the City on November 27, 1989, and his pension service credit is effective on December 17, 1990. His pension will be effective October 1, 2021. Based on an average salary of approximately $52,451.22 over the past five years, the formula for computing regular pensions and Mr. Williams’ selection of the 100% Joint and Survivor Annuity this pension benefit will be approximately $40,151.64 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. Cook, Ms. Lacey, Mr. Olesh, Ms. Overby, Mr. Scrivens, Mr. Smith, Ms. Smoak, Mr. Taggart, Mr. Vericker, Mr. Wagner and Mr. Williams 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. Durivou, Mr. Hodgson, and Mr. Muniz have met the hazardous duty criteria.
APPROPRIATION CODE AND AMOUNT:
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USE OF RESERVE FUNDS:
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