File #: ID#24-0275    Version: Name: Review and Action on Employee Requests for Vested Pension
Type: Action Item Status: Passed
File created: 2/21/2024 In control: Pension Trustees
On agenda: 6/17/2024 Final action: 6/17/2024
Title: Approve the following request of employees Jason Gray, Public Utilities Department, and Kevin Nurnberger, Planning and Development Department to vest their pension as provided by Section 2.419 of the Employees' Pension Plan.
Attachments: 1. Vested Pension Forms.pdf

SUBJECT/RECOMMENDATION:

Title

Approve the following request of employees Jason Gray, Public Utilities Department, and Kevin Nurnberger, Planning and Development Department to vest their pension as provided by Section 2.419 of the Employees’ Pension Plan.

Body

SUMMARY: 

Jason Gray, Water Distribution Supervisor I, Public Utilities Department, was employed by the City on November 18, 2002, and his pension service credit is effective on that date. Mr. Gray terminated from city employment on February 2, 2024.

Kevin Nurnberger, Senior Planner, Planning and Development Department, was employed by the City on October 18, 2010, and his pension service credit is effective on that date. Mr. Nurnberger terminated from city employment on September 5, 2023.

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 55 years and completed 20 years of credited service; the date on which a participant has reached age 65 years and completed ten years of credited service; or the date on which a member has completed 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 60 years and completed 25 years of credited service; or the date on which a participant has reached the age of 65 years and completed ten years of credited service.  Mr. Gray will meet the non-hazardous duty criteria and begin collecting a pension in December of 2032. Mr. Nurnberger will meet the non-hazardous duty criteria and begin collecting a pension in November of 2030.

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 20 years of credited service regardless of age, or the date on which the participant has reached 55 years and completed ten years of credited service.

 

APPROPRIATION CODE AND AMOUNT: N/A

 

USE OF RESERVE FUNDS:  N/A