Minutes 04/21/1992 - Laserfiche WebLink

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April 21, 1992 PUBLIC UTILI%IES The proposed budget reflects recommendations for increases in water and sewer rates which would raise the bill of the average Portsmouth residential customer by $1.68 per month. Portsmouth's rates will continue to be the lowest in South Hampton Roads. The increases requested are broken down as shown below: Component Present Rate Proposed Rate Monthly Impact Water Rate Sl.60/1000 gallons $1.80./1000 gallons $1.05 Sewage Rate $0.9090/1000 gallons $1.0293/1000 gallons 0.63 $1.68 SOLID WASTE DISPOSAL Based on state mandates, the City must recycle 15% of all solid waste by July 1, 1993 and 25% by July 1, 1995. With new state and federal mandates on recycling, the Department of General Services will be providing an expanded program of curbside recycling (6,000 new homes), a new yard waste program to be phased in with the new automation system, and at the same time continue to offer twice a month, bulk refuse collection throughout the City. In order to cover the rising costs of solid waste disposal, I am recommending that the refuse collection fee be increased from $9 to $10 per month. RETIREMENT CHANGES During the course of the year, I appointed a committee consisting of employee representatives from all three retirement systems in which the City participates. The charge given to this group was to examine the benefits provided by the retirement systems and to make recommendations for.any changes which may be needed. While not all of the recommendations~ could be reasonably funded, I am recommending that the following benefit improvements be adopted in the Portsmouth Retirement Systems (i.e.~ the Portsmouth Fire and Police Retirement System, and the Portsmouth Supplemental Retirement System) for retirees who retire on or after July 1, 1992. Because of the costs that would be involved, these provisions are not recommended to be applied retroactively. Present retirees were pensioned under the provisions that were in effect at the time of their retirement. Therefore, I recommend that these new provisions be applicable only to employees who retire on or after the effective date of the changes. The benefit improvements which I am recommending are as follows: o ~A pension benefi~ (50%) ~o be paid ~ths s~rvivi~g spous~ of retirees at no cost, or at reduced cost if the spouse is more than 5 years younger than the retiree. o A pension supplement of $100 per month until age 62 for retirees who retire under normal service retirement. o A change £n the benefits formula in the Fire and Police Retirement System to replace the current factor of 2% per year of service, with factors of 2 1/2% per year for the first 20 years of service and 1 1/2% per year thereafter. This change will allow firefighters and police officers to retire on a 50% retirement with 20 years of service, rather than 25 years. In addition~ the penalty of 1/2% per month for~early retirement would be eliminated in both of the Portsmouth Retirement Systems. o An option to permit retirees to change the annuitant designated under a surviving spouse option in the event of divorce or death of the annuitant.