HomeMy WebLinkAboutDocumentation_Pension Public Safety_Tab 13_05/04/2009Laur, Betty
rom: McWilliams, Lori
nt: Wednesday, February 11, 2009 12:39 PM
o: Laur, Betty
Subject: FW: RESIGNATION -PUBLIC SAFETY PENSION PLAN
Please dace c~r~ tffie: next agenda..
From: Reid, Merlene
Sent: Wednesday, February 11, 2009 12:28 PM
To: Laur, Betty
Cc: McWilliams, Lori; Kendrick, Natasha
Subject: RESIGNATION -PUBLIC SAFETY PENSION PLAN
Betty,
Officer Charles Malley resigned on 8/25/2008 and to date we have not received his completed form advising the Village
on how to treat his contributions. With over six years service (hire-date of 5/6/2002), he is entitled to a deferred
pension. Please bring this matter to the Pension Board for their guidance. Thanks
Merlene Reid, SPHR
Human Resources Director
Village of Tequesta
345 Tequesta Drive
quests, FL 33469-0273
el: (561J 575-6200 x256
Fax: (561) 575-6203
•
Laur, Betty
rom: Bonni S. Jensen [bsjensen@perryjensenlaw.com}
ent: Wednesday, April 08, 2009 3:10 PM
o: Laur, Betty; McWilliams, Lori
Cc: karen@perryjensenlaw.com; angels@perryjensenlaw.com; Rahim, Monica
Subject: Re: Terminated employees leaving funds
Lori and Betty,
Members who are vested may leave their contributions in each of the Plans until retirement. Most plans will calculate
the member's benefit now to keep in the file for the future.
The GE Plan provides at Section 10 as follows:
Section 10. Vesting.
If a Member terminates his/her employment with the Village of Tequesta, either voluntarily or by discharge, and is not
eligible for any other benefits under this System, the Member shall be entitled to the following:
1. If the Member has less than six (6) years credited service and has not attained the age of sixty-two (62) upon
termination, the Member shall be entitled to a refund of accumulated contribution or the Member may leave it
deposited with the Fund, in accordance with the definition of credited service.
2. If the Member has six (6) or more years of credited service upon termination, or alternatively, the Member has
ttained the age of sixty-two (62}, regardless of credited years of service, the Member shall be entitled to a monthly
~tirement benefit that is the actuarial equivalent of the amount of such retirement income otherwise payable to
him/her commencing at the Member's otherwise normal or early retirement date, provided he/she does not elect to
withdraw his/her accumulated contributions and provided the Member survives to his/her normal or early retirement
date.
3. Any plan member of the System whose position is terminated, for whatever reason, but who is employed by the
Village in some capacity, shall have all retirement benefits accrued up to the date of such termination under this System
preserved, provided he does not elect to withdraw his/her accumulated contributions from this System. Such Accrued
retirement benefits shall be payable at his/her otherwise normal retirement date hereunder, or later, in accordance
with the provisions of this System.
The Public Safety Plan provides at Section 11 as follows:
Section 11. Vesting.
If a Member terminates his/her employment with the Village of Tequesta, either voluntarily or by
discharge, and is not eligible for any other benefits under this System, the Member shall be entitled to the
following:
•
1. If the Member has less than six (6) years of credited service upon termination, the Member shall be
entitled to a refund of his/her accumulated contribution or the Member may leave it deposited with the Fund.
2. If the Member has six (6) or more years of credited service upon termination, the Member shall be
ntitled to a monthly retirement benefit that is the actuarial equivalent of the amount of such retirement income
~therwise payable to him commencing at the Member's otherwise normal or early retirement date, provided he
does not elect to withdraw his/her accumulated contributions and provided the Member survives to his/her
normal or early retirement date.
Bonni S. Jensen <bsjensen@perryjensenlaw.com>
Law Offices of Perry & Jensen, LLC
400 Executive Center Drive, Suite 207
West Palm Beach, Florida 33401
Telephone: (561)686-6550
Facsimile: (561)686-2802
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ur, Betty wrote:
onni, we have two employees who are no longer employed by the Village -Wayne Jackson is in the General Employees
plan and Dave Malley is in the Public Safety plan. The Village has contacted both a number of times regarding getting
their instructions regarding their funds; neither has responded. What should we do-how do we handle this type of
situation? Both employees were vested.
Please call Lori with this information if you can respond before Friday this week; otherwise I will be here Friday and Lori
will be out.
Thanks, Bonni.
Betty Lau r
Village of Tequesta
561-575-6249
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