Minutes 09/18/1979 - Laserfiche WebLink

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297 September 18, 1979 Security, legislation is under positive consideratien~hat would require all state, and local employees he covered. Fi.re and Police employees of the City are not covered by Social S~curit , and the study will indicate alternative changes to the Fire and Police Retirement Systems to coordinate the System with the~new coverage should the law change, as well as other factors of cost or savings and benefit analysis. The study will be primarily actuarial in nature and will be a considerable undertaking. The project will be paid for by HEW, and the City's function will be a submit requested data and information. Portsmouth is one of twenty five public entities nationwide to be selected for parti- cipation. A group of fifty entities was originally under consideration. The group of fifty was chosen from the Pension Task Force Report on Pu'blic Employee Retirement, a report com- piled in 1977 by the House of Representatives Committee on Education and Labor. The City's cooperation with the task force, and the detail and comprehensiveness of accounting data submitted, are primary reason~sfor our selection. Our expression of willingness to participat after informed that we were under consideration led to the final selection. The study will increase our knowledge concerning possible benefit alternatives, costs, an the relationships between Social Security and the City Retirement Systems. The study should also, at no cost, tell us the best way to respond should a universal Social Security provision become law. Being selected for the study may mean a savings to the City, and is a tribute that we are proud of." Motion of Mr. Gray and seconded by Mr. Early, to be received as information, and that the Retirement Board to be congratulated for being selected for the study, and was adopted by unanimous vote. 79-361 - Vice Mayor Holley offered the following nominations for appointments to the following Boards/Commissions: Retirement Board Ronald Waetzman to be appointed for a three year term, expiring October 1, 1982. Southeastern Virginia Are~wide Model program (SEVAMP) Mrs. Sherwood Schnitze~ to be appointed to fill an unexpired term, expiring September 23, 1980, replacing Rev. Henry J. Hund, who resigned. Motion of Mr. BRrnes and seconded by Mr. Gray, to close nominations, and there being no further nominations, the above members to be elected to the designated Board/Commission, and was adopted by unanimous vote. Motion of Mr. Holley and seconded by Mr. Beamer, to suspend the rules for W. M. Speight to speak, and was adopted by unanimous vo~e. 79-357 W.M. Speight, 609 H~milton A~enue, representing the Port Norfolk Civic League, referring to Lines I and IV: Lines II~ and III. Mr. Speight was referred to the Planning Department. On motion APPROVED meeting adjourned. Mayor