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Home My WebLink AboutORD 7251 TO AMEND GMEBS RETIREMENT PLAN FOR CERTAIN EMPOYEES OF AUGUSTA GA Version 4-28-2011 AN ORDINANCE �� 7251 AN ORDINANCE TO AMEND AN ORDINANCE APPROVED ON JUNE 16, 2009 (ORDINANCE NO. 7136), SETTING FORTH A RETIREMENT PLAN FOR CERTAIN EMPLOYEES OF AUGUSTA, GEORGIA AND SETTING FORTH THE TRUST AGREEMENT AND THE CONTRACT FOR THE ADMINISTR.ATION OF SAID PLAN BY AUGUSTA, GEORGIA AND THE GEORGIA MUNICIPAL EMPLOYEES BENEFIT SYSTEM (GMEBS) AS PROVIDED BY O.C.G.A. § 47-5-1 et seq., SO AS TO AMEND THE ADDENDUM TO THE RETIREMENT PLAN ADOPTION AGREEMENT TO PROVIDE ADDITIONAL SERVICE CREDIT FOR PARTICIPANTS WHO ENTER INTO A SEPARATION AGREEMENT PURSUANT TO THE REDUCTION IN FORCE POLICY APPROVED BY THE AUGUSTA, GEORGIA COMMISSION ON MARCH 30, 2011; TO PROVIDE AN ADDITIONAL 5 YEARS OF SERVICE CREDIT FOR SAID PARTICIPANTS WHO ARE SENIOR EXECUTIVE SERVICE (SES) PERSONNEL UNDER CERTAIN CONDITIONS; TO PROVIDE ADDITIONAL SERVICE CREDIT FOR UNUSED SICK LEAVE FOR SAID PARTICIPANTS WHO ENTER PAY STATUS UNDER THE RETIREMENT PLAN IMMEDIATELY FOLLOWING TERMINATION; TO PROVIDE FOR PAYMENT OF A NORMAL (UNREDUCED) RETIREMENT BENEFIT TO SAID PARTICIPANTS WHO ENTER PAY STATUS UNDER THE RETIREMENT PLAN IMMEDIATELY FOLLOWING TERMINATION, PROVIDED THEY ARE AT LEAST AGE 62 AND HAVE AT LEAST 15 YEARS OF TOTAL CREDITED SERVICE UNDER THE RETIREMENT PLAN; TO PROVIDE AN EFFECTIVE DATE; TO REPEAL CONFLICTING ORDINANCES, AND FOR OTHER PURPOSES. BE IT ORDAINED by the Augusta, Georgia Commission, and it is hereby ordained by the authority thereof: Section 1. An Ordinance establishing a retirement plan for certain employees of the Augusta, Georgia, and setting forth the trust agreement and the contract for the administration of said Plan between Augusta, Georgia and the Georgia Municipal Employees Benefit System (GMEBS) as provided by O.C.G.A. § 47-5-1 et seq., is hereby amended by adding a new Section 7.43 to the Addendum to the retirement plan Adoption Agreement, to read as follows: 7.43 Effect of March 30, 2011 Reorganization Plan, Phase I("2011 Reor�anization Plan") and 2011 Reduction in Force Policv ("2011 RIF Policv"); Effective Termination Date Under GMEBS Retirement Plan; Additional Service Credit and Severance Taken Into Account Under Retirement Plan for GMEBS Retirement Plan Participants Who Execute a Separation Agreement Pursuant to Reorganization Plan; Extra Five (5) Years of Service Credit for Said Participants Who Are Senior Executive Service (SES) Personnel; Service Credit for Unused Sick Leave for SES & Non-SES Participants Who Execute Separation Agreement and Retire under Plan Immediatelv Following Termination Date; Unreduced Normal Retirement Benefit for SES & Non-SES Participants who Execute Separation 1 __ _ Version 4-28-2011 Agreement, Retire Immediatelv Following Termination Date and Meet "62 & 15" Requirement. (a) Presumed Retirement Plan Termination Date for Senior Executive Service (SES) Participants Who Execute a Separation Agreement —Solely for purposes of determining benefits payable under the GMEBS Retirement Plan as provided in this subsection 7.43(a), the presumed date of Termination under the GMEBS Retirement P►an for a GMEBS Retirement Plan Participant who is involuntarily terminated from employment with the Augusta, Georgia while holding a SES position listed in subsection 7.43(h) below ("SES Participant") and who enters into a separation agreement with Augusta pursuant to the 2011 RIF as described in the 2011 Reorganization Plan approved by the Augusta, Georgia Commission on March 30, 2011, shall be the last day of the month in which the Participant has exhausted his or her Severance Pay as determined by Section 540.311 of the Augusta, Georgia Personnel Policy and Procedures Manual, following the Participant's official date of separation as stated in the Participant's "Sixty (60) Day Notice Letter" issued pursuant to the 2011 RIF Policy. The Participant's Final Average Earnings under the GMEBS Retirement Plan shall be computed as if the Participant remained employed up until said presumed date of Termination under the GMEBS Retirement Plan and as if the Participant received as Earnings for the period between the Participant's offcial date of separation (as stated in the Participant's 60 Day Notice Letter) and the Participant's presumed date of Termination under the GMEBS Retirement Plan an amount equal to the Severance Pay paid to Yhe Participant. in accordance with Section 500.311 of Augusta, Georgia's Personnel Policy and Procedures. In addition, the period between the Participant's official date of separation and the Participant's presumed date of Termination under the GMEBS Retirement Plan shall be treated as Credited Service under the Retirement Plan for purposes of co►nputing the amount of any benefit payable under the Plan, for purposes of determining whether the Participant has satis�ed the appiicable minimum service requirements for vesting under the Plan, and for purposes of determining whether the Participant has satisfied the applicable minimum service requirements for benefit eligibility under the Plan. (See subsections 7.43 (e), (�, and (g) below for description of additional Retirement Plan benefits available to SES Participants who are involuntarily terminated from employment and who enter into a separation agreement with Augusta, Georgia pursuant to the 2011 RIF Policy). (b) Retirement Plan Termination Date for SES Participants Who Do Not Execute a Separation Agreement — The date of Termination under the GMEBS Retirement Plan for an SES Participant who is involuntarily terminated from employment pursuant to the 2011 RIF Policy and who does not enter into a separation agreement with Augusta, Georgia shall be the same as the Participant's official date of separation as stated in the Participant's "Sixty (60) Day Notice Letter" issued pursuant to the 2011 RIF Policy. (c) Presumed Retirement Plan Termination Date for Non-SES Participants Who Execute a Separation Agreement — Solely for purposes of determining benefits payable under the GMEBS Retirement Plan as provided in this subsection 7.43(c), the presumed date of Termination under the GMEBS Retirement Plan for a 2 Version 4-28-2011 GMEBS Retirement Plan Participant who is involuntarily terminated from employment with Augusta, Georgia while holding a non-SES position listed in subsection 7.43(i) below ("Non-SES Participant") and who enters into a separation agreement with Augusta, Georgia pursuant to the 2011 RIF as described in the 2011 Reorganization Plan approved by the Augusta, Georgia Commission on March 30, 2011, shall be the last day of the month that is one (1) month after the Participant's official date of separation as stated in the Participant's "Sixty (60) Day Notice Letter" issued pursuant to the 2011 RIF Policy. The Participant's Final Average Earnings under the Retirement Plan shall be computed as if the Participant remained employed up until said presumed date of Termination under the GMEBS Retirement Plan and as if the Participant received as Earnings for the period between the of�cial date of separation and the Participant's presumed date of Termination under the Retirement Plan an amount equal to one-twelfth (1/12 of the Participant's annual salary. In addition, the period between the Participant's official date of separation and the Participant's presumed date of Termination under the GMEBS Retirement Plan shall be treated as Credited Service under the GMEBS Retirement Plan for purposes of computing the amount of any benefit payable under the Plan, for purposes of determining whether the Participant has satis�ed the applicable minimnm service requirements for vesting under the Plan, and for purposes of determining whether the Participant has satisfied the applicable minimum service requirements for benefit eligibility under the Plan. (See subsections 7.43(f� and (g) below for description of additional Retirement Plan benefits available to Non-SES Participants who are involuntarily terrninated from employment and who enter into a separation agreement with Augusta, Georgia pursuant to the 2011 RIF Policy.) (d) Retirement Plan Termination Date for Non-SES Participants Who Do Not Execute a Separation Agreement - The date of Termination under the Retirement Plan for a Non-SES Participant who is involuntarily terminated from emptoyment pursuant to the 2011 RIF Policy and who does not enter into a separation agreement with Augusta, Georgia shall be the Participant's official date of separation as stated in the Participant's "Sixty (60) Day Notice Letter" issued pursuant to the 2011 RIF Policy. (e) Additional 5 Years of Service Credit for Senior Executive Service (SES) Participants Who Execute Separation Agreement — Notwithstanding any provision in the Adoption Agreement ar this Addendum to the contrary, and provided the requirements of this subsection 7.43(e) are satisfied, a Participant in the GMEBS Retirement Plan (this Plan) who hoids an SES position listed in subsection 7.43(h) below as of March 30, 2011, who is involuntarily terminated from employment pursuant to the 2011 RIF as described in the 2011 Reorganization Plan approved by the Augusta, Georgia Commission on March 30, 2011 and who enters into a separation agreement with Augusta, Georgia while holding such SES position will be treated as having an additional five (5) years of Credited Service (in addition to his actual years of Credited Service and any Credited Service granted to the Participant under subsection 7.43(a) above for the period between the Participant's official date of separation and the Participant's presumed date of Termination under subsection 7.43(a), and any Credited Service granted for unused sick leave 3 Version 4-28-2011 under subsection 7.43(f� below). The additional �ve (5) years of Credited Service provided for in this subsection 7.43(e) shall not be construed to extend the Participant's presumed date of Termination under the Retirement Plan. Said additional five (5) years of Credited Service shall be counted under the Retirement Plan for purposes of computing the amount of any benefit payable under the Plan and for purposes of determining whether the Participant has satisfied the applicable minimum service requirements for benefit eligibility under the Plan. In order to be eligible for the additional five (5) years of Credited Service under this subsection 7.43(e), the following requirements must also be satisfied: (1) the Participant must be involuntarily separated from employment with Augusta, Georgia in accordance with the 2011 RIF as described in the 2011 Reorganization Plan; (2) the Participant must be vested in a normal retirement benefit under the terms of this Plan as of the date of his or her official separation from employment with Augusta, Georgia; (3) the Participant must execute any and all waivers and/or releases required by Augusta, Georgia in connection with the 2011 RIF Policy; and (4) the Human Resources Director must provide GMEBS with written certi�cation of the Participant's eligibility for additional Credited Service under this subsection 7.43(e). If an individual is not a Participant in this Plan upon termination of employment, this subsection shall not apply. 7.43(� Credit for Unused Sick Leave for SES and Non-SES Participants Who Execute Separation Agreement and Retire Immediatelv Following Presumed Retirement Plan Termination Date — A SES or non-SES Participant identified in subsection 7.43(h) or (i) below who (1) is involuntarily terminated from employment with Augusta, Georgia pursuant to the 2011 RIF as described in the 2011 Reorganization Plan approved by the Augusta, Georgia Commission on March 30, 2011; (2) enters into a separation agreement with Augusta, Georgia pursuant to the 2011 RIF Policy; (3) officially separates from employment with Augusta, Georgia on the Participant's official date of separation as stated in the Participant's "Sixty (60) Day Notice Letter" issued pursuant to the 2011 RIF Policy; (4) is eligible for Early or Normal Retirement benefits as of the Participant's presumed date of Termination under the Retirement Plan as identified in subsection 7.43(a) or (c) above (as applicable); (5) submits a completed retirement application form to GMEBS within 30 days after the Participant's presumed date of Termination under the Retirement Plan as identified in subsection 7.43(a) or (c) above (as appticable) reflecting as the effective Retirement Date the first day of the month following the Participant's presumed date of Termination under the Retirement Plan; and (6) Retires under the Plan as of said effective Retirement Date, shall receive additional Credited Service in the amount of half of his or her unused sick leave, if any, up to a maximum of 6 months of additional Credited Service. The Pension Committee Secretary shall provide any and all forms requested by GMEBS in order to confirm the amount of a Participant's unused sick leave that is to count as Credited Service pursuant to this subsection 7.43(fl. Such Credited Service shall count for purposes of computing the amount of any retirement benefit payable to or on behalf of the Participant under this Plan, for purposes of ineeting the minimum service requirements for vesting, and for purposes of ineeting the minimum service requirements for retirement benefit e[igibility under this Plan. The additional 4 Version 4-28-2011 Credited Service provided for in this subsection 7.43(� shall not be construed to extend the Participant's presumed date of Termination under the Retirement Plan. 7.43(g) Unreduced Retirement Bene�t for SES and Non-SES Participants Who Execute Separation A�reement and Retire Immediatelv Followin� Presumed Retirement Plan Termination Date Pursuant to 2011 RIF Policv, Provided Thev Ar at least 62 Years of A e and Have at least 15 Years of Credited Service with Augusta, Geor ia as of Presumed Retirement Plan Termination Date - A SES or non-SES Participant identified in subsection 7.43(h) or (i) below who (1) enters into a separation agreement pursuant to the 2011 RIF Policy; (2) terminates employment as a result of the 2011 RIF as described in the 2011 Reorganization Plan approved by the Augusta, Georgia Commission on March 30, 2011; (3) is at least 62 years of age and has at least 15 years of Credited Service with Augusta, Georgia (including any Credited Service awarded pursuant to subsection 7.43(e) or (f� above) as of his or her presumed date of Termination under the Retirement Plan as identified in subsection 7.43(a) or (c) above (as applicable); (4) submits a completed retirement application form to GMEBS within 30 days after the Participant's presumed date of Termination under the Retirement Plan as identi�ed in subsection 7.43(a) or (c) above (as applicable) reflecting as the effective Retirement Date the �rst day of the month following the Participant's presumed date of Termination under the Retirement Plan; and (5) Retires under the Plan as of said effective Retirement Date, shall receive a normal retirement benefit computed as provided under Section 6.01 of the Master Plan without actuarial reduction for the Participant's age. Said monthly benefit shall be based upon the Participant's Total Credited Service and his Final Average Earnings as of his presumed date of Termination under the Retirement Plan (including any additional Credited Service and Earnings taken into account for SES Participants under subsection 7.43(e) or (f) above). 7.43(h) Senior Executive Service (SESI Positions Affected bv 2011 RIF Policv DEPARTMENT POSITION Facilities and Maintenance Director I 7.43(i) Non-SES Positions Affected bv 2011 RIF Policv DEPARTMENT POSITION Facilities and Maintenance Laborer I Facilities and Maintenance Laborer I Facilities and Maintenance Light Equipment Operator I Facilities and Maintenance Records Clerk II Facilities and Maintenance Administrative Asst. 8HR Recreation Aquatic Mgr Recreation Fac Facilities and Maintenance Assistant Director Facilities and Maintenance Assistant Director Recreation Athletic Supervisor Facilities and Maintenance Construction Clerk I* Facilities and Maintenance Foreman Maintenance Shop Rec 5 Version 4-28-2011 � L Facilities and Maintenance Laborer I Facilities and Maintenance Laborer I Facilities and Maintenance Laborer I Facilities and Maintenance Operations Manager Facilities and Maintenance Operations Manager* Facitities and Maintenance Operations Manager Facilities and Maintenance Operations Manager Recreation Rec Facilities Marketing Mgr Recreation Recreation Foreman Recreation Recreation Specialist I Recreation Recreation Specia(ist I* Facitities and Maintenance Superintendent II 8HR Richmond County Correction Institute Deputy Warden Utilities Land Acquisition Agent I* Utilities WTP Supervisor I* Utilities WTPO Supervisor Utilities Operations Manager* Utilities Operations Manager Utilities Assistant Manager Operations Utilities Assistant Manager Operations Utilities Assistant Manager Operations* Utilities Assistant Manager Operations Utilities Superintendent II 8HR* Utilities Assistant Director* * Not a Participant in GMEBS Retirement Plan 7.43(j) Death Prior to Presumed Date of Termination; In-Service Death Benefit — Notwithstanding any provision in the Adoption Agreement or this Addendum to the contrary, in the event that a Participant who is (1) involuntarily terminated from employment with Augusta, Georgia pursuant to the 2011 RIF as described in the 2011 Reorganization Plan approved by the Augusta, Georgia Commission on March 30, 2011; (2) enters into a separation agreement with Augusta, Georgia pursuant to the 2011 RIF Policy; and (3) dies prior to his or her presumed Termination Date under the Retirement Plan, such Participant shall be treated under the terms of this Plan as having died while in the Service of Augusta, Georgia and no Retirement benefits shall be payable to or on behalf of the Participant under the Plan. However, for purposes of determining the Participant's etigibility for in-service pre- retirement death benefits under the Plan and the amount of any in-service pre- retirement death benefit payable, if any, the Participant will be deemed to have remained in Service until his or her presumed Termination Date and his/her Credited Service wi(( be deemed to include the period between the Participant's official date of separation and his or her presumed Termination Date as set forth in subsection 7.43(a) or (c), as applicable, and any Credited Service awarded pursuant to subsection 7.43(e), but it will not include Credited Service for unused sick leave referenced in subsection 7.43(f�). In addition, for purposes of computing any in- service pre-retirement death benefit payable under this subsection 7.43(j), the 6 Version 4-28-2011 , v Participant's Earnings will be deemed to include any severance pay presumed to be included in the Participant's Earnings under subsection 7.43(a) or (c), as applicable. If a Participant described herein dies after his or her presumed Termination Date but before his or her effective Retirement Date, then no Retirement benefits shall be payable to or on behalf of the Participant and the provisions of this subsection 7.43(j) will apply in determining the Participant's eligibility for and the amount of any pre-retirement terminated vested death benefit payable under the Plan. Section 2. The rights and obligations under the GMEBS Retirement Plan for Augusta, Georgia with respect to persons whose employment or term of office with Augusta, Georgia is terminated for any reason whatsoever prior to the effective date of this Ordinance are fixed and shall be governed by such Plan as existed and was in effect at the time of such termination. Section 3. The effective date of this Ordinance shall be the date of its approval by the Augusta, Georgia Commission. Section 4. All ordinances and parts of ordinances in conflict herewith are hereby expressly repealed. ORDAINED this � day of �_�, 2011. The terms of the foregoing Ordinance are approved by the Augusta, Georgia Commission t�i�s,-, �� day of , 2011. _, , , t.� � p�rt� �= F ��°� � � ��d�� AUG �TA, GEORGIA � � . 3 A `\�.% �"'� � �� i 2 , s �le'r� of� �ssion ° �; � � �+� Mayor f� � � f `� ^; � , �� 4 �'�"°'" " � � � � � �� j��/�� • s� � �� `�� 1�ECiRG� �;.�'� . Approvec� L��`�1 ! �� General Counsel The terms of the foregoing Ordinance are approved by the Board of Trustees of the Georgia Municipal Employees Benefit System. IN WITNESS WHEREOF, the Board of Trustees of the Georgia Municipal Employees Benefit System has caused its Seal and the signatures of its duly authorized officers to be affixed this day of � 2011. 7