The Bel Air Board of Town Commissioners will introduce a pair of resolutions Monday night, which propose changes to the sworn police officer and civilian pension plans of town employees.
For police officers, the proposed changes include:
– Normal retirement age means the later of the date the Participant attains age 60 AND the date the participant completes 10 years of vesting service
– If the participant has 20 years of service and has reached the normal retirement age, or has 25 or more years of service and elects to take a payment that totals the employee contributions, roll over amount and pension benefit as an annuity, the participant shall receive a benefit equal to the sum of (1) plus (2), where:
1. Is 2.0% of the participant’s final average compensation multiplied by his benefit service up to a maximum of 25 years;
2. Is 2.0% for each excess year of service over 25, up to 5 years of the participant’s final average compensation multiplied by his benefit service
– The participant will contribute 7% and the Town will contribute 9.4% (previously 8%) of the participant’s compensation each year that the participant is an eligible employee.
For civilian employees, the proposed changes include:
– Normal retirement age means the later of the date the Participant attains age 60 AND the date the participant completes 10 years of vesting service
– If the participant has reached the normal retirement age and has 15 or more years of service and elects to take a payment that totals the employee contributions, roll over amount and pension benefit as an annuity, the participant shall receive a benefit where:
1. Completion of 15 to 19 years of service: a pension benefit of 1.8% of the participant’s final average compensation multiplied by his benefit service.
2. Completion of 20 to 24 years of service: a pension benefit of 1.9% of the participant’s final average compensation multiplied by his benefit service.
3. Completion of 25 years of service. A pension benefit of 2.0% of the participant’s final average compensation multiplied by his benefit service (up to a maximum of 25 years) plus 1.0% for each excess year of service over 25, up to 5 years of the participant’s final average compensation multiplied by his benefit service.
– The participant will contribute 2% and the Town will contribute 8.7% (previously 8%) of the participant’s compensation each year that the participant is an eligible employee.
The town is also considering raising its schedule of fees charged for certain services and documents the municipal government provides including residential, industrial and commercial site plans; comprehensive rezoning requests; sign permits; and sewer system development fees. The full list of proposed changes to the Town of Bel Air’s Fee Schedule can be found here.
Also Monday night, the Bel Air Commissioners are expected to vote on awarding contracts for professional auditing services in fiscal year 2011 and for the Governmental Accounting Standards Board (GASB) 45 other (than pension) postemployment benefits (OPEB) valuation services.
The meeting begins at 7:30 p.m. in Bel Air Town Hall.
The full agenda is listed below:
Commissioners of Bel Air
Agenda
June 6, 20111. CALL TO ORDER
2. PLEDGE OF ALLEGIANCE
3. APPROVAL OF AGENDA
4. APPROVAL OF MINUTES
5. NEW BUSINESSa. Award of Contract – Professional Auditing Services FY 2011
b. Award of Contract – GASB 45 OPEB Valuation Services
c. Resolution NO. 956-11, Town’s Fee Schedule
d. Resolution No. 957-11, Amending Sworn Officers’ Pension Plan
e. Resolution No. 958-11, Amending Civilian Pension Plan
f. Resolution No. 959-11, FY 2011 Budget Amendment
g. Resolution No. 960-11, Amendment to Local Govt. Insurance Trust Agreement
6. PUBLIC ANNOUNCEMENTS
a. The Downtown Alliance’s summer movie series kicks off on June 10th with “Back to the Future” in Shamrock Park at dusk. The movie “Star Wars: The Cone Wars” will show on June 24th.b. Paws for Yoga, a yoga fundraiser to benefit the animals of Luna’s House, Inc., will be held June 12th, 8:30 a.m. – 11:30 a.m. at Rockfield Manor. Pre-register at www.peaceyogabelair.com
c. The Bel Air Community Band will perform in Shamrock Park June 12th at 7 p.m. and the Bel Air Chorus performs on June 19th.
7. PUBLIC COMMENTS
8. COMMISSIONERS’ COMMENTS
9. ADJOURNMENT
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