Barbara Stephenson Retires

Barbara Stephenson, Bremerton’s financial services director since February, announced Monday she’ll retire as of Friday.

Stephenson was hired by Mayor Patty Lent after Lent dismissed former director Andy Parks. Stephenson was county treasurer for seven years and was replaced by Meredith Green.

The city issued the following press release:

Barbara Stephenson, Director of Financial Services, has submitted her letter of retirement effective the end of the work day July 2, 2010. She informed me that she has reassessed her personal priorities and decided to join her husband John in retirement.

I enjoyed having Barbara part of my management team and felt several important goals were accomplished including the Park Plaza garage financing utilizing the Build America Bonds which provided a very attractive interest rate for the city, a renewal of the Bank of America Letter of Credit backing the variable rate bonds on the Conference Center parking garage and most importantly she created a much more sustainable 2010 budget (subject to council approval) and laid the groundwork for the 2011 budget.

I appreciate Barbara’s service to the City and I wish her well in retirement.

Patty Lent

Mayor

More information as it becomes available.

3 thoughts on “Barbara Stephenson Retires

  1. I have a question? How does Barbara Stephenson’s short tenure and subsequent retirement effect her retirement pay?

  2. I’m answering off the cuff here, so understand that going in. First, Stephenson is not a lifelong government employee. She’s been a public employee since she was elected county treasurer, so as of now she would have eight years in the system.

    As for the short tenure, I would guess her retirement will actually be less than it would have been had she stayed in the treasurer’s job the full term.

    I don’t know if that answers your question. If not, feel free to be more specific.

    Steven Gardner
    Kitsap Caucus chief peddler

  3. If the city’s web site is current, her months of service would be added to the several years of service at the county, she appears to be vested (typically 5 years). The really sweet deal for management in Bremerton is that they do not earn vacation (ie several hours a paycheck of vacation hours to put in your vacation bank), they present it all to them at the beginning of the year (or in this case her first day on the job). Why do you think no manager retires in December, wait until January and you get a minimum of four weeks paid vacation added to your purse.

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