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473 REQUEST FOR UT t L I T I ES OLD IVY RD. DENIED REPORT FROM BUILDING COMMITTEE - RECREATION ADVISORY BOARD PRESENTED MATTER RE: MCINTIRE BUST REPORT RE: RETIREMENT FUND COMMISSION A COMMUNICATION WAS PRESENTED FROM MR. STUART A. KESSLER REQUESTING UTILITIES FOR A PROPOSED APARTMENT PROJECT ON OLD IVY ROAD. THE CITY MANAGER ADVISED THAT THE SEWER LiNE IN THE AREA WAS NOT OF SUFFICIENT SIZE TO TAKE CARE OF A PROJECT OF THIS SlZE~ AND RECOMMENDED THAT THE REQUEST BE DENIED, ON MOTION BY MR, RINEHART~ SECONDED BY MR, MOUNT,, THE FOREGOING RECOMMENDATION WAS UNANIMOUSLY ADOPTED, A REPORT WAS PRESENTED FROM THEBUILD.ING COMMITTEE OF THE RECREATION ADVISORY BOARD OUTLINING THE SPACE REQUIREMENTS OF A NEW RECREATION COMPLEX AND RECOMMENDING THAT IT BE LOCATED IN MCINTIRE PARK. A MOTION BY MR, MOUNT., SECONDED BY MR, HAGGERTY.. THAT THE REPORT BE ACCEPTED WITH THANKS AND THAT THIS BE CONSIDERED WITH OTHER CAPITAL OUTLAY NEEDS AT BUDGET TIME~ WAS UNANIMOUSLY ADOPTED. A COMMUNICATION WAS PRESENTED FROM THE CIVIC LEAGUE ADVISING THE COUNCIL THAT THE BROKEN LETTERS BEHIND THE MC]NTiRE BUST HAVE BEEN REPLACED AND ADVISING THAT THE LEAGUE WOULD NO LONGER BE RESPONSIBLE FOR MAINTENANCE or REPLACEMENT OF THE MCINTIRE BUST SETTING, A MOTION BY MR. HAGGERTY,, SECONDED BY MR. RINEHART THAT THE COUNCtLtS APPRECIATION BE CONVEYED TO THE CIVIC LEAGUE FOR REPLACEMENT OF THE LETTERING AND ACKNOWLEDGE THE FACT-THAT THEY WILL NO LONGER ACCEPT RESPONSIBILITY FOR MAINTENANCE~ WAS UNANIMOUSLY ADOPTED, THE FOLLOWING REPORT OF THE RETIREMENT FUND COMMISSION WAS PRESENTED: FEBRUARY 5,~ 1968 CITY COUNCIL CHARLOTTESVi LLE,, VI ECl NIA GENTLEMEN: Your RETIREMENT PLAN COMMISSION iS OF THE OPINION THAT SOHE CHANGES SHOULD BE MADE IN THE C1TYtS RETIREMENT PLAN I.N ORDER TO UPDATE AND BRING IT IN LINE WiTH OTHER SUCH PLANS, ACCORDINGLY~ WE RECOMMEND THE FOLLOWING - IA), AMEND SECTION 2-208 SO AS TO INCREASE THE COLUMN UNDER ANNUAL SALARY AT THE TIME OF RETIREMENT FROM ~t0~000. TO ~]5,,000, (2) CHANGE THE PERCENTAGE ON PORTION OF SALARY ON ALL OVER ~15;0OO; UNDER COLUMN !5 THROUGH 19 YEARS FROM 20~ TO 30~ PLUS 2~ FOR EACH YEAR AFTER t5 YEARS THROUGH 19 YEAR$~ AND UNDER COLUMN 20 YEARS AND OVER CHANGE 30~ TO 40~ PLUS I/2 OF 1~ FOR EACH FULL YEAR AFTER eo YEARS. (3) iNCREASE MINIMUM PAY UNDER 15-19 YEARS FROM ~30.00 PER MONTH TO ~40,00 AND INCREASE ~40.00 ~ ~50o00 PLUS 5~ OF THE MtNiI~UM PAY FOR EACH YEAR OVER 20 YEARS SERVICE. (BI, AMEND SECTION 2-202 SO AS TO NOT REQUIRE ANY INCREASE MADE TO THE EMPLOYEEtS PRIMARY SOCIAL SECURITY BENEFITS AFTER HIS RETIREMENT FROM THE CITY TO BE DEDUCTED FROM HIS SUPPLEMENTAL RETIREMENT PAY FROM THE CITY, THE COMMISSION FEE.L~ THAT THE INCREASE IN SOCIAL SECURITY BENEFITS ARE TO HELP OFFSET INCREASED COST OF LIVING AND THAT THE EMPLOYEEtS RETIREMENT PAY SHOULD NOT BE REDUCED, (C). AMEND SECTION 2-206 so AS TO PERMIT AN EMPLOYEE WITH MORE THAN 20 YEARS OF CONTINUOUS AND FULL TIME SERVICE TO RETIRE~ OR BE RETIRED,, PRIOR TO HIS REACHING THE AGE OF 65 (OR 62 AT REDUCED BENEFITS), RETIREMENT PAY WOULD NOT COMMENCE UNTIL THE EMPLOYEE HAD REACHED THE AGE OF 65 (OR 62 AT REDUCED BENEFITS) AND WOULD BE BASED ON THE AMOUNT OF THE EMPLOYEEtS SALARY AND YEARS OF SERVICE EFFECTIVE AT THE TIME OF HIS RETIREMENT, THE AMENDMENT IS VERY iMPORTANT IN OUR OPINION AND iS ALSO NEEDED TO UPDATE THE C!TYtS RETIREMENT PLAN, It WILL EXTEND BENEFITS OF THE PLAN TO ALL FULL TiME EMPLOYEES OF THE CitY WHO COMPLETE'AT LEAST 20 YEARS OF CONTINUOUS AND FULL TIME EMPLOYMENT AND TERMINATE THEIR EHPLOYMENT EITHER VOLDNTARILY OR INVOLUNTARILY PRIOR TO REACHING RETIREMENT AGE, THESE PERSONS SHALL BE ELIGIBLE TO RECEIVE RETIREMENT PAY FROM THE CITY WHEN THEY REACH THE AGE OF 65 OR AT REDUCED BENEFITS AT AGE 62. ID). WE RECOMMEND ALSO THAT THE RETIREMENT PAY OF EMPLOYEES ALREADY RETIRED BE INCREASED 10~ EFFECTIVE FEBRUARY 1,, 1968. THE LAST, SUCH INCREASE WAS MADE ON JULY t~ 1962 AND THE ClTYtS PAY SCALE HAS BEEN INCREASED SEVERAL TIMES SINCE THAT TIME, THIS tS PROVIDED FOR UNDER SECTION 2.215 AND WILL COST APPROXIMATELY ~225,75 PER MONTH,