Exh 8C.~
e .; AGENDA ITEM #8C
SEPTEMBER 9, 2002
CITY OF ATLANTIC BEACH
CITY COMMISSIONER MEETING
a.
STAFF REPORT
~ ACTION REQUESTED: Approve changing the pay date for General Employee retirees
from the 15th of each month to the 1st of each month and change
„~ the method of payment from retrospective to prospective.
~~
~ SUBMITTED BY: George Foster, Human Resource Manager
,, ,
DATE:
September 3, 2002
,~,, BACKGROUND:.. Since December 1.995, the City has paid all retirees on the 15th of
,each month using a retrospective basis.
„~,., Florida Statute 185.16(3) requires that we pay our Police Officer
retirees on the 1st of each month on a prospective basis.
Therefore, we need. to change the date and method of payment for
Police Officer retirees from the 15th of each month to the 1st of
E each month and from a retrospective basis to a prospective basis.
v~ Florida Statute 112 pertains to General Employee retirees but does
not address this issue.
The City currently has 9 Police Officer retirees and 29 General
~ '
~, Employee retirees. To process two separate payrolls (one on the
.1st and one on the 15th) and to have two methods of determining
the benefit for these two small groups is not effective or efficient.
Therefore, we are requesting that the Commission approve
.changing the payment date and method for General Employee
~"~'"
~, retirees to be the same as that for Police Officer retirees.
This change is planned for December 2002 with all. retirees
'"""' receiving a fu114 week retiree benefit on November 15th and
another full 4 week retiree benefit on December 1st or an additional
2 weeks of retiree benefit. Thereafter, benefits will be received on
'"" the 1st of each month.
E,
RECOMMENDATION: Approve changing the pay date for General Employee retirees
~"" from the 15th of each month to the 1st of each month and changing
{ -the method of payment from retrospective to prospective.
~""
E. FUNDING: To make this change will cost the Pension Funds a "one time" 2
weeks additional retirement benefit of approximately $16,000
($5,000 for Police retirees and $10,554 for General retirees)
~ -
CITY MANAGER: