HomeMy WebLinkAboutMinutes - Public Safety Personnel Retirement System Board - 6/2/2004 PSPRS MINUTES
JUNE 2, 2004
ROLL CALL:
Mayor Loomis
Chuck Sweet
Chuck Trujillo
Troy Kranz
Richard Tracy, Sr.
GUESTS:
Elizabeth A. Wright
Jeff Grant
Comdr. Lentner
APPROVAL OF MINUTES:
Sgt. Trujillo moved to approve the February 17, 2004 minutes. Officer Kranz seconded the
minutes. Motion unanimously carried.
OLD BUSINESS:
No old business.
REVIEW DROP APPLICATION:
DROP: An employee,who has reached 20 years of service, may elect to defer up to 60 months; it
is mandatory that the time not go beyond 60 months. The employee is then no longer
contributing to the retirement plan nor is he/she eligible for the contributing to the PSPRS. The
Town's contribution to PSPRS stops, the employee's retirement benefit is then placed in another
account and accumulates interest until the officer terminates employment with Oro Valley.
The Board recognizes that Elizabeth A. Wright is eligible for the DROP retirement.
CONSIDERATION AND/OR POSSIBLE ACTION REGARDING THE DROP
APPLICATION RECEIVED FROM ELIZABETH A. WRIGHT:
The Memorandum of Understanding of Agreement for DROP was received. Mayor Loomis
stated that since the Board, as a group, has reviewed the application and found it to be complete,
proper and acceptable; he moved to recommend it for forwarding to Public Safety Personnel
Retirement System. Seconded by Richard Tracy, Sr. Motion unanimously carried.
Officer Troy Kranz thanked Officer Wright for her twenty(20) years of service with the state
and told her that he looks forward to working with her in the next five (5) years.
NEW BUSINESS:
It was decided to call meetings as applications require or per yearly requirement.
ADJOURNMENT:
Meeting adjourned at 4:47.
Respectfully submitted by Diane Little on June 8, 2004.