Title
Resolution to Make an Irrevocable Election to Provide Enhanced Hazardous Duty Retirement Benefits for Emergency Medical Technicians
Purpose
PURPOSE/BACKGROUND:
The Virginia Retirement System ('VRS") requires that City Council pass the attached resolution in order to add EMTs to those categories of City employees who are eligible to receive the hazardous duty supplement from VRS. The hazardous duty supplement is a dollar amount added to an eligible employee's monthly retirement benefit. The City currently has eight EMTs, all of whom were hired in August, 2022, who will become eligible for the hazardous duty supplement upon passage of this resolution.
Given the size of the City, and the number of employees who are eligible, VRS has confirmed that there will be no immediate fiscal impact, or immediate modification to the City's contribution rate.
Discussion:
See Purpose/Background above.
Impact:
See Purpose/Background above.
Recommendation:
Rec
Approve the Resolution.
Body
WHEREAS, subject to the approval of the Virginia Retirement System ("VRS") Board of Trustees, Code of Virginia Section 51.1-138 permits a political subdivision of the Commonwealth of Virginia currently participating in VRS to make an irrevocable election to provide enhanced hazardous duty retirement benefits for its eligible employees as outlined in Section 51.1-138.
NOW, THEREFORE, BE IT RESOLVED, that the City of Hampton (the "Employer") does hereby elect to have such employees of Employer who are employed in positions as full time Emergency Medical Technicians, and whose tenure is not restricted as to temporary or provisional appointment, become eligible, effective the first day of October, 2022, for VRS benefits equivalent to those provided for state police officers of the Department of State Police, as set out in Section 51.1-138 including the retirement multiplier of 1.85% in lieu of the bene...
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