PDA

View Full Version : Remuneration



09-09-2006, 10:49 AM
Will Remuneration cover your Sick Bank (1/2) buy out if you retire flat out, NO DROP, once you have reached your twenty
(I know it already includes a certain amount of hours - I beleive 200 - of overtime)
If I decide to retire from the F & P and TPD at the same time, who do I address a letter to on the F & P Pension board and within the City requesting 1/2 of my Sick Bank and all of my Annual Leave to be included in the last check of my 72nd pay ccyle so it can be averaged in along with the paid Holidays I have had the last three years (72 checks)

09-10-2006, 10:00 PM
Go see youre District Secretary. They have all the forms and the knowledge of what goes to who.

09-11-2006, 02:20 AM
Will Remuneration cover your Sick Bank (1/2) buy out if you retire flat out, NO DROP, once you have reached your twenty
(I know it already includes a certain amount of hours - I beleive 200 - of overtime)
If I decide to retire from the F & P and TPD at the same time, who do I address a letter to on the F & P Pension board and within the City requesting 1/2 of my Sick Bank and all of my Annual Leave to be included in the last check of my 72nd pay ccyle so it can be averaged in along with the paid Holidays I have had the last three years (72 checks)

Response:
Total remuneration was not negotiated as a benefit by the unions. When you retire on longevity and do not go into the DROP, or you leave from the DROP, you are paid cash, minus taxes of course, for 1/2 your sick time and up to 240 hours of annual.

Bottom line, there is no form to fill out to count those monies toward your final compensation for your pension calculation.

The correct amount for OT is 300 hours per year of overtime is pensionable.

09-12-2006, 04:28 AM
In my opinion "Total Cash Remuneration" means just that. Read the statute and your pension contract. Unfortunately nobody has requested that payment without going into DROP (obviously your sick/annual leave won't be paid out when you enter DROP).

I think the language is pretty clear. The argument that it wasn't "negotiated" isn't very valid since the statute authorizing "Total Cash Remuneration" didn't have a section for declaring "legislative intent".

09-16-2006, 12:42 AM
Pat,
Thanks for the info anyway. The Remuneration at this juncture is too uncertain for what I wanted. After attending the retirement workshop my wife and I decided to have me DROP effective 24 SEP 06 and then I will take it month by month after that. Evreyone on the panel today was very helpful. Thanks to Chair Hamlin, Vice Chair Lynch, Ms. Campbell, Ms. Buchanan and Mr. Lemken for their time today at the TCC