The Wyoming City Council on Nov. 3 authorized an employment agreement for Fire Chief Dennis Van Tassel that adds eligibility for a deferred retirement option plan, commonly called DROP, allowing his pension benefits to be frozen while he continues to draw a salary and city-funded pension payments for up to three years.

Council members voted to authorize the city manager to execute the agreement after staff said an actuarial review showed the change would add a very small cost to city pension liabilities — described by staff as “less than one-tenth of one percent” in additional cost. The council motion was moved by Council member Brett Howard and reported by Council member Hill; the roll-call vote was recorded as unanimous among members present.

City staff explained that under the DROP option the city would continue to make pension contributions into an account for the participating employee while the employee remains on the payroll; when the employee retires, proceeds and accrued interest in that account would be paid to the retiree. Staff said the DROP eligibility period in this agreement would last up to three years and that the city had provided an actuarial study supporting the plan.

The motion as passed directs the city manager to execute the employment agreement consistent with the template previously approved by council with this single change to add DROP eligibility. No additional implementation steps or timetable were specified during the meeting.

Council meeting context: the measure was part of the consent agenda and passed by roll call.