Board of Selectmen Meeting April 15, 2024 Public Hearing Pension
It has come to the attention of the Town Manager Marc Nelson that Chief Boulter would like to remain as Simsbury’s Chief past his date of retirement.
As a result of the Chief’s request the present Pension Plan was reviewed and found not to reflect the present longevity of individuals.
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When employees are hired, they receive all the plans of employment, including the Pension Plan.
The solution to the issue is to change the plan for all new employees extending the years of service and age requirements in the Pension Plan.
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The present plan was instituted when Chief Boulter entered the Police Department and he should not be incentivized to remain past the retirement requirements.
The definition of retirement is “withdrawal from one’s position.”
Withdrawal from one’s position is leaving the employment and then collect the Pension.
The scenario of collecting an in-service distribution while working should not be considered.
Chief Boulter is remaining on the job therefore, he is not retiring, he is just extending his employment past years of service and should not be incentivized.
Chief Boulter should not be allowed to “game the system.”
Are there any other town’s that allow employees to continue service and collect from the pension with an in-service distribution?
As a result of this request and the failure to address longevity of employees in the present Pension Plan, it should be reviewed and changed to reflect the deficiencies in the Pension Plan and should be changed for all new employees.
In a small town with few employees in this category there is very little room for advancement.
Retirement of an unaffiliated employee is an opportunity for others to receive promotions that is valuable in maintaining staff.
Retirement gives the person an opportunity to either accept retirement and move to other opportunities that they might like to pursue.
This gives the staff an opportunity to grow with the expectation that there will be opportunities from within.
The Simsbury Police Department has a Deputy Chief, 3 Lieutenants, Sergeants, and Officers in the chain of command.
Every department should have a succession plan for retirements of unaffiliated employees.
For example, in the Police Department, the Deputy Chief could assume the roll of Chief through retirement and others can advance through promotions.
If Chief Boulter retires, the Deputy Chief is ready to assume the responsibilities with years of experience in various Police Departments.
In a small town with little advancement, staff should be encouraged to retire for others to advance.
This is also a recruiting tool as people looking for employment realize the opportunities for growth in the future.
The reduction of the pension multiplier from 2.5% to 2% for new employees is a benefit to the taxpayer.
The Defined Contribution Plan should be the savings plan for future employees as a benefit to the taxpayers.
The present Retirement Plan should not be tweaked to accommodate a failure of the present plan to reflect a request but rewritten to reflect present day actuarial figures on longevity, for new employees.
