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...
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