Minutes 01/13/2004 - Laserfiche WebLink

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January 13, 2004 WHEREAS, in 1974 Portsmouth City Council amended the City Code to commit to future annual cost of living adjustments for all retirees under the Portsmouth Fire and Police Retirement System; and WHEREAS, this provision was repealed by City Council and removed from the City Code in 1976; and WHEREAS, a certain number of individuals retired into said retirement system during this approximately two-year time period; and WHEREAS, since that time various City Councils have granted increases in retirement compensation to these retirees, but these increases have been less than the amount duly calculated cost of living adjustments would have been; and WHEREAS, there are now currently approximately twenty-two such retirees and five survivors receiving benefits from said retirement system; and WHEREAS, there are possible legal claims of these approximately twenty-seven retirees and survivors to additional retirement compensation, with these claims being based uniquely and solely on their retiring during the period when the Portsmouth City Code committed to future cost of living adjustments; and WHEREAS, these approximately twenty-seven retirees and survivors have been seeking adjustments to retirement compensation based on cost of living adjustments for several years, without success; and WHEREAS, City Council desires to provide equitably for these approximately twenty-seven retirees and survivors, to avoid the possibility of litigation, and also to safeguard the financial interests of the Fire and Police Retirement System and City taxpayers; and WHEREAS, the City Manager and City Attorney have negotiated the principles of a settlement of these possible claims, subject to City Council approval, and these principles have been agreed to by all said retirees and survivors; NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia, that the City Manager and the City Attorney are hereby authorized to finally settle, resolve and compromise these claims by the payment to each of said approximately twenty-seven retirees and survivors a lump sum, calculated with regard to the applicable statute of limitations, and also a prospective adjustment to future retirement compensation, calculated with regard to the difference between actual increases in retirement compensation granted and increases which would have been granted with duly calculated cost of living adjustments, with any possible additional future increases to be in the sole legislative discretion of City Council, and subject to appropriation. This settlement is contingent on its acceptance by all said retirees and survivors, as witnessed by their execution of written releases satisfactory in form and substance to the City Attorney. Ayes: Benn, Griffin, Moody, Pitts, Randall, Whitehurst, Holley Nays: None - New Business - 04 - 12 - Boards and Commissions Mr. Benn offered the following nomination: THE PLANNING COUNCIL Councilman Cameron C. Pitts to be reappointed to fill a one year term ending February 28, 2005. Motion by Mr. Benn, and seconded by Mr. Griffin, to close the nomination, and there being no further nomination, the above nomination was adopted by unanimous vote.