Board of Aldermen 11-23-2021 Page 10
A viva voce roll call was taken which resulted as follows:
Yea: Alderman O’Brien, Alderman Klee, Alderman Dowd, Alderman Caron,
Alderman Clemons, Alderman Lopez, Alderwoman Lu, Alderman Jette,
Alderman Schmidt, Alderman Cleaver, Alderwoman Harriott-Gathright,
Alderman Wilshire 12
Nay: 0
MOTION CARRIED
Resolution R-21-186 declared duly adopted.
R-21-188
Endorsers: Alderman-at-Large Michael B. O’Brien, Sr.
Alderman Richard A. Dowd
Alderman Thomas Lopez
Alderman Linda Harriott-Gathright
Alderman-at-Large Lori Wilshire
AUTHORIZING A ONE-TIME STIPEND TO BOARD OF PUBLIC WORKS RETIREMENT SYSTEM RETIREES AS
REQUESTED BY THE BOARD OF PUBLIC WORKS RETIREMENT SYSTEM BOARD OF TRUSTEES
Given its second reading;
MOTION BY ALDERMAN O’BRIEN FOR FINAL PASSAGE OF R-21-188, BY ROLL CALL
ON THE QUESTION
Alderman O’Brien
Thank you, Madam President. Currently, I'm very proud to report back to the full Board that the current BPW Retirement
System which currently exists of 108 retirees and 160 active employees is healthy. It is healthy to the point that the
current fund ratio for the pension fund is approximately 88%. That's better than what the city is getting off to State that we
do pay. So we do manage in the municipality, the pension system very well.
But unfortunately, within the pension system, we do not give COLAs or cost of living increases. So in every point in time,
we do look at the particular funding and if it is available and with the numbers that we're having right now of 88%, we'll
give the retirees a one check only. They did receive this. This was done in the past. | think that they received it in 2017.
So it's been approximately five years where they haven't received this additional check. That additional checks helps
them to compensate for what is being lost through inflation and other issues. So we do it around this time of year. It's a
nice little Christmas present to our people who collected our trash, plowed our streets, mowed our parks, and everything
else and | feel that they are deserving. So | urge your support. Thank you, Madam President.
Alderman Dowd
| thought this was tabled last night? Did we get an indication for a final vote?
Alderman O’Brien
Thank you Alderman Dowd. | thought Alderman Clemons did make the motion last night to reconsider and we did
reconsider it with the amendment pending and probably it should read as such - pending the approval of the Board of
Trustee and I'm willing to make that amendment.
Alderman Dowd
Okay.
MOTION BY ALDERMAN O’BRIEN TO AMEND R-21-188 AUTHORIZING A ONE-TIME STIPEND TO BOARD OF
PUBLIC WORKS RETIREMENT SYSTEM RETIREES AS REQUESTED BY THE BOARD OF PUBLIC WORKS
RETIREMENT SYSTEM BOARD OF TRUSTEES PENDING THEIR APPROVAL BY ROLL CALL
