City of Ledyard CT header
File #: 23-2178    Version: Name:
Type: General Discussion Status: Agenda Ready
File created: 10/12/2023 In control: Retirement Board
On agenda: 4/16/2024 Final action:
Title: Discussion on a review of applicable labor contracts and retirement documents for Town of Ledyard employee groups with applicability to retirement eligibility and benefits continued.
Attachments: 1. Plan Amendment-2021-1-Amended and Restated-July 1, 2012-Rule 82-Approved 2021-09-08, 2. 20240111095220294, 3. Defined Benefit Plan, 4. Pension Plan Amendment 2015-1dated 2015-10-14

AGENDA REQUEST

GENERAL DISCUSSION ITEM

 

Subject:

title

Discussion on a review of applicable labor contracts and retirement documents for Town of Ledyard employee groups with applicability to retirement eligibility and benefits continued.

end

 

Background:

From the March 19, 2024, meeting:

 

Mr. Thorne started by saying the last time that the "Retirement Plan for Full-Time Employees of

the Town of Ledyard" was restated was in 2012. There was a minor amendment to it, also

completed in 2012. Mr. Thorne said the idea is to be an overarching instruction however it

doesn't get updated when there is a change to a union plan for example, the 130% calculation for

the Police is not in the defined benefit, nor should it be duplicated here but rather the union

contract should be referenced by the union number and date referring the latest contract. The

plan would need to be updated each time a union contract is amended unless it is updated to read

something similar to "see current union contract". Mr. Thorne added that it's a very worthy

guiding document. Some unions refer to this document since they don't have specific retirement

information in their own contracts. Also, USI also uses this as a guiding document. Mr. Thorne

added that there was an amendment made in 2012 that was never actually added to the document

but rather hangs separate from it. He would like to incorporate the separated amendment to be

contained within the document.

 

Mr. Thorne offered to put together a draft to change the title to be more precise, refer to the

union contracts and to incorporate the separated amendment(s) within the document. Mr. Thorne

would like to have USI review the draft; Ms. Wadecki agreed that their review would be

beneficial.

 

 

Department Comment/Recommendation:

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