Title
Ordinance to Amend and Reenact the City Code of the City of Hampton, Virginia by Amending Chapter 2,Titled “Administration,”Article I Titled "In General,“ Section 2.2 Titled "Residence Requirements for Members of Boards, Commissions, Etc." and Chapter 28 Titled "Pensions and Retirement," Article II, Titled "Hampton Employees Retirement System," Section 28-43, Titled "System Constitutes Separate Trust; Board of Trustees, Generally"
Purpose
PURPOSE/BACKGROUND:
The Hampton Employees' Retirement System (the "System") has been in place since July 1, 1966. The System has been closed to new members since 1984. It is managed by a Board of Trustees, the composition of which is dictated by the Hampton City Code. As it exists today, the City Council and the School Board of the City of Hampton ("School Board") each appoint certain individuals to the Board based on specific requirements dictated by the Hampton City Code, including, but not limited to, the combined requirements of City residency and employment with or retirement from the City of Hampton, and receipt of a pension from the System.
Specifically, Hampton City Code Section 2-2 requires that all people appointed by City Council to serve on a committee, board, or commission, be a Hampton city resident. That restriction, combined with Section 28-43 (which applies to both City Council and the School Board), limits the pool of qualified candidates to serve on the System's Board to current and former employees who participate(d) in the System have remained (and are at the time of appointment) City residents. As time passes and the number of current participants and active employees covered by the System dwindles, so does the possible pool for appointees to the System's Board.
Two additional modifications are proposed to enhance the composition of the Board, as well as to expedite the ability to refill vacancies on the Board. First, because the primary responsibility of the Board is prudent ...
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