1980-04-07 - Laserfiche WebLink

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24!.!_ Report re: Retirement Commission recommendations for survivor's benefits Presentation re: Betty L. Mawyer's request for monthly stipend the necessity for poles to be placed on private property to avoid an underground storm drain, needing no concrete encasement as previously planned. The City has received requests for street lights on Grover Court, Prospect Avenue and Longwood Drive. The estimate for these lights is $3,975. If this amount is covered by the excess funds from the Monticello Avenue project, the balance of $11,685 can be applied to the expected shortage of $62,000 in the street light code by the end of June, 1980, (due to unanticipated rate increases). Mr. Hendrix requested Council's approval to handle the money in this fashion, which he was granned. Mr. Brunton reported on the Retirement Commission's review of the Retirement Ordinance '-s provisions regarding survivor's benefits.--k'fne Commission recommended that the present 30 year service requirement be retained, after consulting with the actuarial firm of Meidinger & Associates and surveying other retirement plans provided by Virginia cities and area employers. The Commission also recommended that Council reserve $25,000 in the FY 1981 budget for life insurance improvements plus an additional sum to protect the level of insurance currently held by retired employees. The purpose of this.recommendation is to study the possibility of doubling basic life insurance for active employees. This amount of $25,000 is the approximate cost per year and could increase as salaries increase. The change, if adopted, would benefit all City employees and is endorsed by the Police Association. Mr. Hendrix pointed out that many employees don't opt.to buy additional available life insurance beyond the amount provided by the City. As Council had already voted on the matter of lowering the service requiremenn for survivors' benefits and the recommendation to reserve $25,000 in the FY 1981 budget will be considered during work sessions on the budget, no Council action was required at this time. Council heard a presentation by L.B. Chandler, Jr., who represents Mrs. Betty L. Mawyer whose late husband John Wesley Mawyer was a'City pOlice officer. Mr. Chandler again requested that Council consider a monthly stiPend of $400/month for Mrs. Mawyer since she is not eligible for survivor's benefits, her husband having served less than the required 30 years. He also requested that Council consider the Police Association's request to double the amount of life insurance provided to police officers with an option for the purchase of additional insurance as well as a request to lower the service requiremen5 from 30 to 25 or 20 years. He stated that lowering the requirement to 25 years for police and fire officers would cost the City an additional $1,600 per year. During discussion among Council and staff, it was learned that this $1,600 is the retroactive, not prospective, cost of providing this change and covers only police and fire officers, rather than all City employees. The