Title
Resolution of the City of Hampton Virginia to increase the VRS Retirement multiplier for Hazardous Duty employees from 1.7% to 1.85%
Purpose
PURPOSE/BACKGROUND:
This resolution is proposing to increase the VRS multiplier to 1.85 percent for Hampton employees employed as full time salaried Law Enforcement Officers, Firefighters, and Sheriff Deputies.
Discussion:
This enhanced benefit is offered by most cities in the region including Chesapeake, Newport News Poquoson, Virginia Beach and Suffolk. Adding the benefit for the City’s Hazardous Duty employees would keep Hampton competitive with other localities and help to recruit and retain these employees.
Impact:
The cost to implement the additional multiplier for the City’s Hazardous Duty employees is $880,000 annually. The $880,000 was included in the City’s approved FY2020 budget.
Recommendation:
Rec
Approve
Body
Be it hereby resolved that the City of Hampton, Virginia, a political subdivision currently participating in the Virginia Retirement System under Title 51.1, Chapter 1, Article 5 of the Code of Virginia, as amended, acting by and through its City Council does hereby elect to have such employees of the City of Hampton who are employed in positions as full time salaried Law Enforcement Officers, Firefighters, and Sheriff Deputy and whose tenure is not restricted as to temporary or provisional appointment, to become eligible, effective July 1, 2019, to be provided benefits in the Virginia Retirement System equivalent to those provided for State police officers of the Department of State Police, as set out in Section 51.1-138 of the Code of Virginia including the retirement multiplier of 1.85%, in lieu of the benefits that would otherwise be provided as such code has been or may be amended from time to time, and the City of Hampton agrees to pay the employer cost for providing such employees such benefits.
Be it further resolved that City Manager Mary B. Bunting, and Katherine K. Glass, Clerk of Council, are hereby authorized and directed in the name of the City of Hampton to execute any required contract in order that the above described employees of the City of Hampton may become entitled to retirement benefits equivalent to those provided for State police officers of the Department of State Police. In execution of any contract which may be required the seal of the City of Hampton shall be affixed and attested by the Clerk and, said officers of the City of Hampton are hereby authorized and directed to do any other thing, or things, incident and necessary in the lawful conclusion of this matter. The Director of Finance of the City of Hampton be and is hereby authorized and directed and pay over to the Treasurer of Virginia from time to time such sums as are to be paid by the City of Hampton and its employees for this purpose.