HomeMy WebLinkAboutResolution #5027 (W Terry Retirement Agreement) RESOLUTION NO 5027
A RESOLUTION OF THE COUNCIL OF THE CITY OF CANTON APPROVING A
RETIREMENT AGREEMENT BETWEEN THE CITY OF CANTON AND WILLIAM E.
TERRY
WHEREAS, William E. Terry has been employed by the City since May 2, 1994, and after 23
years of service, Employee will retire as of May 2, 2017; and
WHEREAS, The City is willing to accept such retirement and in return, will give compensation
to Employee in the form of continued health insurance as set forth in the Retirement Agreement attached
hereto and incorporated herein as "Exhibit A."
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY COUNCIL OF THE
CITY OF CANTON,ILLINOIS,AS FOLLOWS:
1. That the Retirement Agreement attached hereto and incorporated herein as Exhibit"A" is hereby
approved by the Canton City Council.
2. That the Mayor and City Clerk of the City of Canton, Illinois are hereby authorized and directed to
execute said Agreement on behalf of the City of Canton.
3. That this Resolution shall be in full force and effect immediately upon its passage by the City
Council of the City of Canton, Illinois and approval by the Mayor thereof.
PASSED by the City Council of the City of Canton, Illinois at a regular meeting this 6th day of October,
2015, upon a roll call vote as follows:
AYES: Alderman Craig West, Tad Putrich, Jim Nelson, Ryan Mayhew, Justin Nelson, Gerald
Ellis, John Lovell, Angela Hale
NAYS: None
ABSENT: None
APPROVED:
ATTE T: Jeffrey Mayor
ayor
Diana y- oc C
NLR Resolutions
10/1/2015
RETIREMENT AGREEMENT
This Agreement is made this 6th day of October, 2015, by and between the City of Canton
("City" or "Employer"), an Illinois Municipal Corporation, located at 2 North Main Street,
Canton, Illinois, and William E. Terry ("Employee"), who resides at 210 West Oak Street,
Canton, Illinois 61520.
WHEREAS, Employee has been employed by the City since May 2, 1994; and
WHEREAS, after 23 years of service, Employee will retire as of May 2, 2017, as the
Director of Public Works. The parties agree that Employee's last working day will be May 2,
2017; and
WHEREAS, the City is willing to accept such retirement and in return, will provide
retirement benefits in the form of continued health insurance and any other benefits as set forth
in the City's Personnel Policy as it existed on the date of this Agreement; and
WHEREAS, this Agreement will become effective upon the execution of this Agreement
by all parties and passage of appropriate resolutions by the City of Canton City Council
approving and ratifying the terms of this Agreement.
NOW, THEREFORE, in consideration of the mutual promises, the receipt and
sufficiency of which are acknowledged, the parties agree as follows:
1. Employee freely and voluntarily retires from employment at the City, effective May 2,
2017.
2. As the Employee has attained the age of at least 55, he has become entitled to a pension
under IMRF retirement provisions and has at least 20 years of service, the Employer will
pay the entire amount of the applicable health insurance premium until the Employee and
his spouse have attained the age of sixty-five (65) years of age or such other age as
Congress may subsequently determine for Medicare eligibility (per Section 12.4 of the
Employer's Personnel Policy effective January 1, 2011 and attached hereto and
incorporated herein as Exhibit 1). Upon attaining the age of sixty-five (65), or such other
age as Congress may subsequently determine for Medicare eligibility, this coverage shall
terminate. If Employee becomes re-employed where health insurance is offered by the
new employer, then the City is relieved from its obligation to pay any health insurance
premiums.
3. Employer shall pay Employee any accrued and unused sick time, personal time and/or
vacation time as determined by the Personnel Policy that is in effect on the date of this
Agreement.
NLR Documents/Personnel
10/1/2015
4. This Agreement shall be construed in accordance with the laws of the State of Illinois.
DATE:
Jeffr y A: F tz yor
EMPLOYEE HAS READ THIS AGREEMENT AND UNDERSTANDS THAT THE
TERMS ARE LEGALLY ENFORCEABLE. EMPLOYEE HAS HAD THE
OPPORTUNITY TO CONFER WITH AN ATTORNEY FOR ASSISTANCE AND
ADVICE. EMPLOYEE HAS ENTERED INTO THIS AGREEMENT KNOWINGLY
AND VOLUNTARILY.
V —Ze DATE: /O ZI—A Z//S—
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NLR Documents/Personnel
10/1/2015