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HomeMy WebLinkAboutDocumentation_Pension Public Safety_Tab 05D_02/18/2005TCd Memorandum TO: GWEN CARLISLE, PUBLIC SAFETY PENSION PLAN ADMINSTRATOR FROM: JAMES M WEINAND, CHAIRMAN OF PUBLIC SAFETY PENSION TRUST F SUBJECT: PENSION PLAN CHANGES AS PRESENTED ON 11/09/2004 DATE: JANUARY 21, 2005 At the November 9, 2004, Board meeting, Mr. Palmquist from Gabriel, Roeder, Smith & Company presented some cost studies for various benefit changes to the Tequesta Public Safety Pension Plan. The purpose of this memorandum is to formalize the results of those benefits the Fire- Rescue members voted to incorporate into the Pension Plan. Attached are the results of this vote for your records. 100% of the Fire-Rescue Pension Plan members voted to increase their personal contribution to 6.1 %, instead of the current 5% employee contribution rate in order to incorporate the proposed benefit changes as outlined in option #6 of Mr. Palmquist's letter dated November 4, 2004. The extra benefits are as follows, 1. To change the plan multiplier to 3.0°lo for years sixteen through twenty-one and, 2. To change the plan multiplier to 3.0% for all years of service after twenty-five and, 3. To increase supplemental benefit to $20.00 per year of service. Incorporation of these extra benefits into the Pension Plan has no financial impact on the Village's contribution rates for Police and Fire, nor will there be a rate change in the individual police officers employee contribution. These benefit changes are solo funded out of excess State revenues and Fire Rescue employee contributions. Please add this item to the next Pension Board Agenda for their consideration. M:1Administration Documents\Pension File\Benefit Changes 01212005.doc -,, To: All Fire Department Pension Plan Members From: James M Weinand, Pension Board Representative Date: December 17, 2004 Subject: Actuarial Benefit Study As you are aware, the Pension Board completed an actuarial benefit study. I have explained the findings of this study to everyone. I need to know your desire before the next pension board meeting. Please complete, sign and date this form. I need to have all the forms returned to me by January 17, 2005. 1. Are you willing to increase your out-of-pocket contribution rate to add additional benefits? YES: _ C NO: (If YES go to Item #2, if NO go to Item #4) 2. Currently our pension plan has a mandatory member contribution rate of 5.0%. Are you willing to increase the mandatory member contribution rate to 6.1 % to allow the following benefits: YES: C NO: (If YES sign the form below, if NO go to Item #3) a. Add a 3.0% multiplier to years sixteen through twenty-one. b. To change the multiplier to 3.0% for all years worked after twenty-five years of service. c. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00 3. Currently our pension plan has a mandatory member contribution rate of 5.0%. Are you willing to increase the mandatory member contribution rate to 7.08% to allow the following benefits: YES: NO: (If YES sign the form below, if NO got to line 4) a. Change the Pension Plan to provide for atwenty-five and out provision so an employee can retire after 25 consecutive years, regardless of age. b. Add a 3.0% multiplier to years sixteen through twenty-one. c. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00 -1- 4. If you have elected not to increase your mandatory member contribution rate, which ONE of the following benefits would you like to add? These benefits will be funded from our State supplemental money. Circle the corresponding letter to the benefit you wish to add. Name Signature: Date: a. Change the Pension Plan to provide for atwenty-five and out provision so an employee can retire after 25 consecutive years, regardless of age. b. Add a 3.0% multiplier to years sixteen through twenty-one. c. To change the multiplier to 3.0% for all years worked after twenty-five years of service. d. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00. .J Prrr~ r~ ~ c^'7 n~ /~h^i rJ (Please print) -2- To: All Fire Department Pension Plan Members From: James M Weinand, Pension Board Representative Date: December 17, 2004 Subjec#: Actuarial Benefit Study As you are aware, the Pension Board completed an actuarial benefit study. I have explained the findings of this study to everyone. I need to know your desire before the next pension board meeting. Please complete, sign and date this form. I need to have all the forms returned to me by January 17, 2005. 1. Are you willing to increase your out-of-poc et contribution rate to add additional benefits? YES: NO: (If YES go to Item #2, if NO go to Item #4) 2. Currently bur pension plan has a mandatory member contribution rate of 5.0%. Are you willing to increase the mandato~/ member contribution rate to 6.1 % to allow the following benefits: YES: r NO: (ff YES sign the form below, if NO go to Item #3) a. Add a 3.0% multiplier to years sixteen through twenty-one. b. To change the multiplier to 3.0% for all years worked after twenty-five years of service. c. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00 3. Currently our pension plan has a mandatory member contribution rate of 5.0%. Are you willing to increase the mandatory member contribution rate to 7.08% to allow the following benefits: YES: T______ NO: (If YES sign the form below, if NO got to line 4) a. Change the Pension Plan to provide for atwenty-five and out provision so an employee can retire after 25 consecutive years, regardless of age. b. Add a 3.0% multiplier to years sixteen through twenty-one. c. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00 -1- 4. If you have elected not to increase your mandatory member contribution rate, which ONE of the following benefits would you like to add? These benefits will be funded from our State supplemental money. Circle the corresponding letter to the benefit you wish to add. a. Change the Pension Plan to provide for atwenty-five and out provision so an employee can retire after 25 consecutive years, regardless of age. b. Add a 3.0% multiplier to years sixteen through twenty-one. c. To change the multiplier to 3.0% for all years worked after twenty-five years of service. d. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00. Name: C14~~S ~. ~y,t,,v s~ $ (Please print) Signature: rn~ (.~. ~ ~ '~ Date: ~ Z - 2 3 ~ Zo ~~ -2- `~ To: All Fire Department Pension Plan Members From: James M Weinand, Pension Board Representative Date: December 17, 2004 Subject: Actuarial Benefit Study As you are aware, the Pension Board completed an actuarial benefit study. I have explained the findings of this study to everyone. . need to know your desire before the next pension board meeting. Please complete, sign and date this form. I need to have a!I the forms returned to me by January 17, 2005. 1. Are you willing to increase your out-of-poc t contribution rate to add additional benefits? YES: ~ N0: (If YES go to Item #2, if NO go to Item #4) 2. Currently our pension plan has a mandatory member contribution rate of 5.0%. Are you willing to increase the mandatory ember contribution rate to 6.1 °~ to allow the following benefits: YES: ~ NO: (If YES sign the form below, if NO go to Item #3) a. Add a 3.0% multiplier to years sixteen through twenty-one. b. To change the multiplier to 3.0% for all years worked after twenty-five years of service. c. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00 3. Currently our pension plan has a mandatory member contribution rate of 5.0%. Are you willing to increase the mandatory member contribution rate to 7.08% to allow the following benefits: YES: NO: (If YES sign the form below, if NO got to line 4) a. Change the Pension Plan to provide for atwenty-five and out provision so an employee can retire after 25 consecutive years, regardless of age. b. Add a 3.0% multiplier to years sixteen through twenty-one. c. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00 -1- 4. If you have elected not to increase your mandatory member contribution rate, which ONE of the following benefits would you like to add? These benefits will be funded from our State supplemental money. Circle the corresponding letter to the benefit you wish to add. a. Change the Pension Plan to provide for atwenty-five and out provision so an employee can retire after 25 consecutive years, regardless of age. b. Add a 3.0% multiplier to years sixteen through twenty-one. c. To change the multiplier to 3.0% for all years worked after twenty-five years of service. d. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00. Name: ~~~,~m ~.7 ~ j~ ~~ 6 , (Please print) ~--___ -/ Signature: (-~~~- ~~' ~~~- ~.' ,% Date: 1 7: / 3 0~,1.y ~' `t -2- ~ . To: All Fire Department Pension Plan Members From: James M Weinand, Pension Board Representative Date: December 17, 2004 Subject: Actuarial Benefiit Study As you are aware, the Pension Board completed an actuarial benefit study. I have explained the findings of this study to everyone. I need to know your desire before the next pension board meeting. Please complete, sign and date this form. I need to have all the forms returned to me by January 17, 2005. 1. Are you willing to increase your out-of-pock contribution rate to add additional benefits? YES: ~ NO: (If YES go to Item #2, if NO go to Item #4) 2. Currently our pension plan has a mandatory member contribution rate of 5.0%. Are you willing to increase the mandatory ember contribution rate to 6.1 % to allow the following benefits: YES: ~ NO: (If YES sign the form below, if NO go to Item #3) a. Add a 3.0% multiplier to years sixteen through twenty-one. b. To change the multiplier to 3.0% for all years worked after twenty-five years of service. c. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00 3. Currently our pension plan has a mandatory member contribution rate of 5.0°~. Are you willing to increase the mandatory member contribution rate to 7.08% to allow the following benefits: YES: NO:~ (If YES sign the form below, if NO got to line 4) a. Change the Pension Plan to provide for atwenty-five and out provision so an employee can retire after 25 consecutive years, regardless of age. b. Add a 3.0% multiplier to years sixteen through twenty-one. c. increase the supplemental benefit to $20.00 for each year of service, instead of $5.00 -1- 4. If you have elected not to increase your mandatory member contribution rate, which ONE of the following benefits would you like to add? These benefits will be funded from our State supplemental money. Circle the corresponding letter to the benefit you wish to add. a. Change the Pension Plan to provide for atwenty-five and out provision so an employee can retire after 25 consecutive years, regardless of age. b. Add a 3.0°~ multiplier to years sixteen through twenty-one. c. To change the multiplier to 3.0% for all years worked after twenty-five years of service. d. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00. Name: ,`~ ~ (Please print) i ~ ~~ Signature: ' Da#e: I ~ ~_~ -2- To: All Fire Department Pension Plan Members From: James M Weinand, Pension Board Representative Date: December 17, 2004 Subject: Actuarial Benefit Study As you are aware, the Pension Board completed an actuarial benefit study. I have explained the findings of this study to everyone. need to know your desire before the next pension board meeting. Please complete, sign and date this form. I need to have all the forms returned to me by January 17, 2005. 1. Are you willing to increase your out-of-po ke ontribution rate to add additional benefits? YES: N0: (If YES go to Item #2, if NO go to Item #4) 2. Currently our pension plan has a mandatory member contribution rate of 5.0%. Are you willing to increase the mandatory member contribution rate to 6.1 % to allow the following benefits: YES: ~~ NO: (If YES sign the form below, if NO go to Item #3) a. Add a 3.0% multiplier to years sixteen through twenty-one. b. To change the multiplier to 3.0% #or all years worked after twenty-five years of service. c. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00 3. Currently our pension plan has a mandatory member contribution rate of 5.0%. Are you willing to increase the mandatory member contribution rate to 7.08°~ to allow the following benefits: YES: NO: (If YES sign the form below, if NO got to line 4) a. Change the Pension Plan to provide for a twenty five and out provision so an employee can retire after 25 consecutive years, regardless of age. b. Add a 3.0% multiplier to years sixteen through twenty-one. c. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00 -1- 4. If you have elected not to increase your mandatory member contribution rate, which ONE of the following benefits would you like to add? These benefits will be funded from our State supplemental money. Circle the corresponding letter to the benefit you wish to add. a. Change the Pension Plan to provide for atwenty-five and out provision so an employee can retire after 25 consecutive years, regardless of age. b. Add a 3.0% multiplier to years sixteen through twenty-one. c. To change the multiplier to 3.0% for all years worked after twenty-five years of service. d. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00. Name: ~ T J ~~~ (Please print) Signatur~~,~~G~~ /G Date: ~ ~ -2- t To: All Fire Department Pension Plan Members From: James M Weinand, Pension Board Representative Date: December 17, 2004 Subject: Actuarial Benefit Study As you are aware, the Pension Board completed an actuarial benefit study. I have explained the findings of this study to everyone. I need to know your desire before the next pension board meeting. Please complete, sign and date this form. I need to have all the forms returned to me by January 17, 2005. 1. Are you willing to increase your out-of-pocked contribution rate to add additional benefits? YES: ~ NO: (If YES go to Item #2, if NO go to Item #4) 2. Currently our pension plan has a mandatory member contribution rate of 5.0%. Are you willing to increase the mandatory ember contribution rate to 6.1 % to allow the following benefits: YES: ~ NO: (If YES sign the form below, if NO go to Item #3) a. Add a 3.0% multiplier to years sixteen through twenty-one. b. To change the multiplier to 3.0% for all years worked after twenty-five years of service. c. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00 3. Currently our pension plan has a mandatory member contribution rate of 5.0%. Are you willing to increase the mandatory member contribution rate to 7.08% to allow the following benefits: YES: NO: (If YES sign the form below, if NO got to line 4) a. Change the Pension Plan to provide for atwenty-five and out provision so an employee can retire after 25 consecutive years, regardless of age. b. Add a 3.0% multiplier to years sixteen through twenty-one. c. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00 C:\DOCUME~1\MSPURG~1\LOCALS-1\Temp\Extra Benefits 01172005 doc 4. If you have elected not to increase your mandatory member contribution rate, which ONE of the following benefits would you like to add? These benefits will be funded from our State supplemental money. Circle the corresponding letter to the benefit you wish to add, a. Change the Pension Plan to provide for atwenty-five and out provision so an employee can retire after 25 consecutive years, regardless of age. b. Add a 3.0% multiplier to years sixteen through twenty-one. c. To change the multiplier to 3.0% for all years worked after twenty-five years of service. d. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00. Name: ~'~Ak~k` ~~?vK'(~L~C~n~ (Please print) Signature: ~~~~ ; ~~~' ,~.u,-.~ ®ate. i I ~ I ~~s -2- C:\DOCUME~1\MSPURG-1\LOCALS-1\Temp\Extra Benefits 01172005.doc e 1 To: All Fire Department Pension Plan Members From: James M Weinand, Pension Board Representative Date: December 17, 2004 Subject: Actuarial Benefit Study As you are aware, the Pension Board completed an actuarial benefit study. I have explained the findings of this study to everyone. I need to know your desire before the next pension board meeting. Please complete, sign and date this form. I need to have all the forms returned to me by January 17, 2005. 1. Are you willing to increase your out-of-pocke ontribution rate to add additional benefits? YES: ~ NO: (If YES go to Item #2, if NO go to Item #4) 2. Currently our pension plan has a mandatory tuber contribution r to of 5.0%. Are you willing to increase the mandatory tuber contribution to to 6.1 % to allow the following benefits: YES: NO:~ (If YES sign the form below, if NO go to Item #3) ~ ~ a. Add a 3.0% multiplier to years sixteen through twenty-one. b. To change the multiplier to 3.0% for all years worked after twenty-five years of service. c. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00 3. Currently our pension plan has a mandatory member contribution rate of 5.0%. Are you willing to increase the mandatory member contribution rate to 7.08% to allow the following benefits: YES: NO: (If YES sign the form below, if NO got to line 4) a. Change the Pension Plan to provide for atwenty-five and out provision so an employee can retire after 25 consecutive years, regardless of age. b. Add a 3.0% multiplier to years sixteen through twenty-one. c. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00 -1- 4. If you have elected not to increase your mandatory member contribution rate, which ONE of the following benefits would you Pike to add? These benefits will be funded from our State supplemental money. Circle the corresponding letter to the benefit you wish to add. a. Change the Pension Plan to provide for atwenty-five and out provision so an employee can retire after 25 consecutive years, regardless of age. b. Add a 3.0% multiplier to years sixteen through twenty-one. c. To change the multiplier to 3.0% for all years worked after twenty-five years of service. d. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00. .~- Name: _~.~~/~ /-i v e 5 (Please print} Si nature: 2~~~ ~~~ Date: ~ _ ~ ~ '_n ~~ -2- r To: All Fire Department Pension Plan Members From: James M Weinand, Pension Board Representative Date: December 17, 2004 Subject: Actuarial Benefit Study As you are aware, the Pension Board completed an actuarial benefit study. I have explained the findings of this study to everyone. I need to know your desire before the next pension board meeting. Please complete, sign and date this form. I need to have all the forms returned to me by January 17, 2005. 1. Are you willing to increase your out-of-pocke)r contribution rate to add additional benefits? YES: ,,,// NO: (If YES go to Item #2, if NO go to Item #4) 2. Currently our pension plan has a mandatory member contribution rate of 5.0%. Are you willing to increase the mandatory member contribution rate to 6.1 % to allow the following benefits: YES: / NO: (If YES sign the form below, if NO go to Item #3) a. Add a 3.0% multiplier to years sixteen through twenty-one. b. To change the multiplier to 3.0% for all years worked after twenty-five years of service. c. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00 3. Currently our pension plan has a mandatory member contribution rate of 5.0%. Are you willing to increase the mandatory member contribution rate to 7.08% to allow the following benefits: YES: NO: (If YES sign the form below, if NO got to line 4) a. Change the Pension Plan to provide for atwenty-five and out provision so an employee can retire after 25 consecutive years, regardless of age. b. Add a 3.0% multiplier to years sixteen through twenty-one. c. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00 C ~DOCUME~1\Newbern\LOCALS~1\Temp\Extra Benefits 01172005.doc 4. If you have elected not to increase your mandatory member contribution rate, which ONE of the following benefits would you like to add? These benefits will be funded from our State supplemental money. Circle the corresponding letter to the benefit you wish to add. a. Change the Pension Plan to provide for atwenty-five and out provision so an employee can retire after 25 consecutive years, regardless of age. b. Add a 3.0% multiplier to years sixteen through twenty-one. c. To change the multiplier to 3.0°/o for all years worked after twenty-five years of service. d. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00. i Name: I'~1 ~/!~-ram- ~ ~/~w ~8~1~-~ (Please print) Signature: ~~ ~ '~G-J ~--~ Date: ~ ~ ~ ~f ~0~ -2- C:\DOCUME-1\Newbern\LOCALS-1\Temp\Extra Benefits 01172005.doc To: All Fire Department Pension Plan Members From: James M Weinand, Pension Board Representative Date: December 17, 2004 Subject: Actuarial Benefit Study As you are aware, the Pension Board completed an actuarial benefit study. I have explained the findings of this study to everyone. I need to know your desire before the next pension board meeting. Please complete, sign and date this form. I need to have all the forms returned to me by January 17, 2005. 1. Are you willing to increase your out-of-poc et contribution rate to add additional benefits? YES: NO: (If YES go to Item #2, if NO go to Item #4) 2. Currently our pension plan has a mandatory member contribution rate of 5.0%. Are you willing to increase the mandato member contribution rate to 6.1 % to allow the following benefits: YES: ~ NO: (If YES sign the form below, if NO go to Item #3) a. Add a 3.0% multiplier to years sixteen through twenty-one. b. To change the multiplier to 3.0% for all years worked after twenty-five years of service. c. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00 3. Currently our pension plan has a mandatory member contribution rate of 5.0%. Are you willing to increase the mandatory member contribution rate to 7.08% to allow the following benefits: YES: NO:~_ (If YES sign the form below, if NO got to line 4) a. Change the Pension Plan to provide for atwenty-five and out provision so an employee can retire after 25 consecutive years, regardless of age. b. Add a 3.0% multiplier to years sixteen through twenty-one. c. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00 -1- C:\DOCUME-1\RGiblin\LOCALS-1\Temp\Extra Benefits 01172005.doc ,~ ~ 4. If you have elected not to increase your mandatory member contribution rate, which ONE of the following benefits would you like to add? These benefits will be funded from our State supplemental money. Circle the corresponding letter to the benefit you wish to add. ~~~?~ ~, °"~ ~^ ,~ Name: a. Change the Pension Plan to provide for atwenty-five and out provision so an employee can retire after 25 consecutive years, regardless of age. Add a 3.0% multiplier to years sixteen through twenty-one. c. To change the multiplier to 3.0% for all years worked after twenty-five years of service. d. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00. (Please print) -_.. Signature Date: ~ L ~ ZL~~ `~ -2- C:\DOCUME-1\RGiblin\LOCALS~1\Temp\Extra Benefits 01172005.doc To: Afl Fire Department Pension Plan Members From: James M Weinand, Pension Board Representative Date: December 17, 2004 Subject: Actuarial Benefit Study As you are aware, the Pension Board completed an actuarial benefit study. I have explained the findings of this study to everyone. need to know your desire before the next pension board meeting. Please complete, sign and date this form. I need to have all the forms returned to me by January 17, 2005. 1. Are you willing to increase your out-of-poFket-eontribution rate to add additional benefits? YES: N0: ~rc:ES~,o~,em.~ , ~ ~,e ~-~ ~o (If YES go to item #2, if NO go to Item #4) ~ _._. 2. Currently our pension plan has a mandatoryf member contribution rate of 5.0%. Are you willing to increase the mandat frember contribution rate to 6.1 % to Esa~mo o,a,os,~,o allow the following benefits: YES: ~~~ ~~~` ~ N0: ;HeES g~~~,~„~o~~~"~; ~~a~,o~,em~~ (If YES sign the form below, if NO go to Item #3) a. Add a 3.0% multiplier to years sixteen through twenty-one. b. To change the multiplier to 3.0% for all years worked after twenty-five years of service. c. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00 3. Currently our pension plan has a mandatory member contribution rate of 5.0%. Are you willing to increase the mandatory member contribution rate to 7.08% to allow the following benefits: YES: NO: (If YES sign the form below, if NO got to line 4) a. Change the Pension Plan to provide for atwenty-five and out provision so an employee can retire after 25 consecutive years, regardless of age. b. Add a 3.0% multiplier to years sixteen through twenty-one. c. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00 -1- w 4. If you have elected not to increase your mandatory member contribution rate, which ONE of the following benefits would you like to add? These benefits will be funded from our State supplemental money. Circle the corresponding letter to the benefit you wish to add. a. Change the Pension Plan to provide for atwenty-five and out provision so an employee can retire after 25 consecutive years, regardless of age. b. Add a 3.0% multiplier to years sixteen through twenty-one. c. To change the multiplier to 3.0% for ali years worked after twenty-five years of service. d. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00. Name: ~ ~,e ` 7 ~.,-,~ (Pleas ~ print) r` Signature: ~v~, A i Date: ~Z/ z 7 ~ ~~ -2- a To: All Fire Department Pension Plan Members From: James M Weinand, Pension Board Representative Date: December 17, 2004 Subject: Actuarial Benefit Study As you are aware, the Pension Board completed an actuarial benefit study. f have explained the findings of this study to everyone. i need to know your desire before the next pension board meeting. Please complete, sign and date this form. I need to have all the forms returned to me by January 17, 2005. 1. Are you willing to increase your out-of-p~contribution rate to add additional benefits? YES: NO: (If YES go to Item #2, if NO go to Item #4) 2. Currently our pension plan has a mandatory member contribution rate of 5.0%. Are you willing to increase the mandat ry tuber contribution rate to 6.196 to allow the following benefits: YES: NO: (If YES sign the form below, if NO go to em #3) a. Add a 3.0% multiplier to years sixteen through twenty-one. b. To change the multiplier to 3.0°lo for all years worked after twenty-five years of service. c. Increase the supplemental benefit to $20.00 for each year of servic.~e, instead of $5.00 3. Currently our pension plan has a mandatory member contribution rate of 5.0%. Are you willing to increase the mandatory member contribution rate to 7.0896 to allow the following benefits: YES: NO: {If YES sign the form below, if NO got to line 4) a. Change the Pension Plan to provide for atwenty--five and out provision so an employee can retire after 25 consecutive years, regardless of age. b. Add a 3.0°lo multiplier to years sixteen through twenty-one. c. Increase the supplemental benefrt to $20.00 for each year of service, instead of $5.00 -l- C:\i3{3CUl~E-11ASCHUM--11LOCALS-15Txtra 8 01172006.dac 4. if you have elected nut to increase your mandatory member contribution rate, which ()NE of the following benefits v~uld you [ike to add? These benefits will be funded from our State supplemental money. Circle the corresponding letter #o the benefit you wish to add. a. Change the Pension Plan to provide for atwenty-five and out provision so an employee can retire after 25 consecutive yearsr regardless of age. b. Add a 3.0°!~ multiplier to years sixteen through testy-one. c. T© change the multiplier to 3.~°!o for all years worked after twenty-five years of service. d. Increase the supplemental benefit to ~2~.i?Q for each year of service, instead of $5.~0. Name. ~ ! ~~ 1Pinocn nrintl -2- C:1€?OCtYR~#E-3tA5CHUi4t-~iELOCALS-itTexG~a ~i i 72Q(15.c#~c Date: ~+ Z ~ ~ ~ / '~`~ To: All Fire Department Pension Plan Nlernbers From: ,fames M Weinand, Pension ward Representafive Date: December 1 ~, 201~d Subject: Actuarial Benefit Study As you are aware, the Pension Board ~mpleted an actuarial benefit study. 1 have explained the findings of this study to everyone. 1 need to know your desire before the next pension board meeting. Please complete, sign and date this form, f need to have ali the forms re#umed to me by .fanuary '17, 2aas. 1. Are you willing to increase your out-of-p Icoci ~t ~ntribufion rate to add add~onal benefits? YES: ~/ Nt): (if YES go to item #2, if NQ go to item #~ 2. Currently our pension plan has a mandatory member contribution rate of 5.{)°lo. Are you willing to increase the mandatoryber cx~ntribution rate to 6.1 to aiiow the following benefits: YES: j i~~: (tf YES sign the form below, if N~ go to Item #3) a. Add a 3_~~/o multiplier to years s~r~ through twenty-cue. b. To change the mu~iplier to 3.O~o far all years worked after twenty-five years of servit~. c. increase the suppiernentai benefit to ~2t?.~ frx ead~€ year of service, instead of $5.~0 3_ currently our pension plan has a mandatory member contribution rate of ~.f~~/o. Are you willing to increase the rr~ar~datory rr~ernber tx~ntributivn rate to 7.01~~6 to allow the following benefrts: YES: ~~: .~ (If YES sign the form below, if N4 got to line ~) a. Change the Pension Ptah to provide for atwenty--five and out provision so an employee can retire after 25 conse~tive years, regardless of age. b. Add a 3.tf°lo multiplier to years sixteen through twenty-one. c. Increase the supplemental benefit to ~2~.t3€3 for each year of service, instead of $5.10 -1- 4. 1# you have elected not to increase your nu~ndatory member contribution rate, which QNE of the following benefits would you like to add? These benefits will be funded frorr~ our Mate supplemental money. GirGte the corresponding letter to the benefit you wish to add. a. Ghange the Pension Plan to provide for a tvnenty-five ar~d out provision so an employee Gan retire after 25 GonseGUtive years„ regardless of age. b. 1~dd a 3.0°lo multiplier to years sixteen thr~gh tnty-one. c. To change the multiplier to 3.fl for all years worked after twenty five years of service. d. Increase the supplemental benefrt to $2~.i~3 for each year service, instead of $~.t~0. -, -- Name: ~^r~s~~o;>~;~a- ~. ~a~~ ~ lease print) Signature: ~ Date: / - ~~~ - o ~ -~- GtL]OGEII~~OC~S-tt,Te~i~x~t 8~e~s tFt t_do~ I~ .~ To: All Fire Department Pension Plan Members From: James M Weinand, Pension Board Representative Date: December 17, 2004 Subject: Actuarial Benefit Study As you are aware, the Pension Board completed an actuarial benefit study. I have explained the findings of this study to everyone. I need to know your desire before the next pension board meeting. Please complete, sign and date this form. I need to have all the forms returned to me by January 17, 2005. 1. Are you willing to increase your out-of-pocket contribution rate to add additional benefits? YES: -~ NO: (If YES go to Item #2, if NO go to Item #4) 2. Currently our pension plan has a mandatory member contribution rate of 5.0%. Are you willing to increase the mandatory member contribution rate to 6.1 % to allow the following benefits: YES: .~ NO: (If YES sign the form below, if NO go to Item #3) a. Add a 3.0% multiplier to years sixteen through twenty-one. b. To change the multiplier to 3.0% for all years worked after twenty-five years of service. c. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00 3. Currently our pension plan has a mandatory member contribution rate of 5.0%. Are you willing to increase the mandatory member contribution rate to 7.08% to allow the following benefits: YES: NO: (If YES sign the form below, if NO got to line 4) a. Change the Pension Plan to provide for atwenty-five and out provision so an employee can retire after 25 consecutive years, regardless of age. b. Add a 3.0% multiplier to years sixteen through twenty-one. c. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00 -1- C:\DOCUME-1\ADodd\LOCALS~1\Temp\Extra Benefits 01172005.doc i. ,. 4. If you have elected not to increase your mandatory member contribution rate, which ONE of the following benefits would you like to add? These benefits will be funded from our State supplemental money. Circle the corresponding letter to the benefit you wish to add. a. Change the Pension Plan to provide for atwenty-five and out provision so an employee can retire after 25 consecutive years, regardless of age. b. Add a 3.0% multiplier to years sixteen through twenty-one. c. To change the multiplier to 3.0% for all years worked after twenty-five years of service. d. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00. dame: ~-1.~.7~,~~ Jty'~~ (Please print) ---~.~ '- - ~~ ~-~,1~_ z ~ Signature: ------~ -.. ®ate: / - ~ - ~S -2- C:\DOCUME-1WDodd\LOCALS~1\Temp\Extra Benefits 01172005.doc le To: All Fire Department Pension Plan Members From: James M Weinand, Pension Board Representative Date: December 17, 2004 Subject: Actuarial Benefit Study As you are aware, the Pension Board completed an actuarial benefit study. I have explained the findings of this study to everyone. I need to know your desire before the next pension board meeting. Please complete, sign and date this form. I need to have all the forms returned to me by January 17, 2005. 1. Are you willing to increase your out-of-po t contribution rate to add additional benefits? YES: NO: (If YES go to Item #2, if NO go to Item #4) 2. Currently our pension plan has a mandatory member contribution rate of 5.0%. Are you willing to increase the mandatory member contribution rate to 6.1 % to allow the following benefits: YES: NO: (If YES sign the form below, if NO go to It #3) a. Add a 3.0% multiplier to years sixteen through twenty-one. b. To change the multiplier to 3.0% for all years worked after twenty-five years of service. c. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00 3. Currently our pension plan has a mandatory member contribution rate of 5.0%. Are you willing to increase the mandatory member contribution rate to 7.08% to allow the following benefits: YES: NO: (If YES sign the form below, if NO got to line 4) a. Change the Pension Plan to provide for atwenty-five and out provision so an employee can retire after 25 consecutive years, regardless of age. b. Add a 3.0% multiplier to years sixteen through twenty-one. c. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00 -1- 4. If you have elected not to increase your mandatory member contribution rate, which ONE of the following benefits would you like to add? These benefits will be funded from our State supplemental money. Circle the corresponding letter to the benefit you wish to add. a. Change the Pension Plan to provide for atwenty-five and out provision so an employee can retire after 25 consecutive years, regardless of age. b. Add a 3.0% multiplier to years sixteen through twenty-one. c. To change the multiplier to 3.0% for all years worked after twenty-five years of service. d. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00. Name: _._ iG~~~ ~ N~ (Plea riot) Signature: _ _ _ __ Date: ~ ~ -2- To: All Fire Department Pension Plan Members From: James M Weinand, Pension Board Representative Date: December 17, 2004 Subject: Actuarial Benefit Study As you are aware, the Pension Board completed an actuarial benefit study. I have explained the findings of this study to everyone. I need to know your desire before the next pension board meeting. Please complete, sign and date this form. I need to have all the forms returned to me by January 17. 2005. 1. Are you willing to increase your out-of-pocket contribution rate to add additional benefits? YES: NO: (If YES go to Item #2, if NO go to Item ) 2. Currently our pension plan has a mandatory member contribution rate of 5.0%. Are you willing to increase the mandat ry member contribution rate to 6.1 % to allow the following benefits: YES: NO: (If YES sign the form below, if NO go to tem #3) a. Add a 3.0% multiplier to years sixteen through twenty-one. b. To change the multiplier to 3.0% for all years worked after twenty-five years of service. c. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00 3. Currently our pension plan has a mandatory member contribution rate of 5.0%. Are you willing to increase the mandatory member contribution rate to 7.08% to allow the following benefits: YES: NO:_~ (If YES sign the form below, if NO got to line 4) a. Change the Pension Plan to provide for atwenty-five and out provision so an employee can retire after 25 consecutive years, regardless of age. b. Add a 3.0% multiplier to years sixteen through twenty-one. c. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00 C:\Documents and Settings\PAllen\Local Settings\Temporary Internet Files\OLK7B\Extra Benefits 01172005.doc 4. If you have elected not to increase your mandatory member contribution rate, which ONE of the following benefits would you like to add? These benefits will be funded from our State supplemental money. Circle the corresponding letter to the benefit you wish to add. a. Change the Pension Plan to provide for atwenty-five and out provision so an employee can retire after 25 consecutive years, regardless of age. b. Add a 3.0% multiplier to years sixteen through twenty-one. c. To change the multiplier to 3.0% for all years worked after twenty-five years of service. d. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00. Name: ~~ ~l-c-~ .~. I~~,~ (Please print) Signature: ~~,~ ~-~~ Date: I ~ f Z ~OS" -2- C:\Documents and Settings\PAllen\Local Settings\Temporary Internet Files\OLK76\Extra Benefits 01172005.doc f To: All Fire Department Pension Plan Members From: James M Weinand, Pension Board Representative Date: December 17, 2004 Subject: Actuarial Benefit Study As you are aware, the Pension Board completed an actuarial benefit study. I have explained the findings of this study to everyone. need to know your desire before the next pension board meeting. Please complete, sign and date this form. I need to have all the forms returned to me by January 17, 2005. 1. Are you willing to increase your out-of-pocket contribution rate to add additional benefits? YES: NO: (If YES go to Item #2, if NO go to Item #4) 2. Currently our pension plan has a mandatory member contribution rate of 5.0%. Are you willing to increase the mandatory tuber contribution rate to 6.1 % to allow the following benefits: YES: ~ NO: (If YES sign the form below, if NO go to Item #3) a. Add a 3.0% multiplier to years sixteen through twenty-one. b. To change the multiplier to 3.0% for all years worked after twenty-five years of service. c. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00 3. Currently our pension plan has a mandatory member contribution rate of 5.0%. Are you willing to increase the mandatory member contribution rate to 7.08% to allow the following benefits: YES: NO: (If YES sign the form below, if NO got to line 4) a. Change the Pension Plan to provide for atwenty-five and out provision so an employee can retire after 25 consecutive years, regardless of age. b. Add a 3.0% multiplier to years sixteen through twenty-one. c. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00 C:\DOCUME-1\Vallison\LOCALS-1\Temp\Extra Benefits 01172005.doc 4. If you have elected not to increase your mandatory member contribution rate, which ONE of the following benefits would you like to add? These benefits will be funded from our State supplemental money. Circle the corresponding letter to the benefit you wish to add. a. Change the Pension Plan to provide for atwenty-five and out provision so an employee can retire after 25 consecutive years, regardless of age. b. Add a 3.0% multiplier to years sixteen through twenty-one. c. To change the multiplier to 3.0% for all years worked after twenty-five years of service. d. Increase the supplemental benefit to $20.00 for each year of service, instead of $5.00. r Name: ,~c~~~°S A ~~~r5~r~ (Please print) ~,-~ J ~ Signature. I /~~~~-' ~t,K1~--- Date: ~ ~~ ~~'`~~~ i -2- C:\DOCUME-1\Vallison\LOCALS~1\Temp\Extra Benefits 01172005.doc