File #: 2024-O-37    Version: 1 Name:
Type: Ordinance Status: Agenda Ready
File created: 8/21/2024 In control: City Council
On agenda: 9/9/2024 Final action:
Title: 1st Reading - Ordinance No. 2024-O-37: Amending the Firefighters' Pension Plan, by adding Section 4.08, Accrued Benefits
Attachments: 1. 2024-O-37, 2. Statement of No Impact

                     COUNCIL AGENDA ITEM

 

SUBJECT:

title

1st Reading - Ordinance No. 2024-O-37: Amending the Firefighters’ Pension Plan, by adding Section 4.08, Accrued Benefits

body

 

DEPARTMENT:

City Clerk/Human Resources

 

SUMMARY:

The proposed amendment adds Section 4.08 (Accrued Benefits) to the Firefighters’ Pension Plan

which provides for Firefighters to purchase an enhanced multiplier for benefit calculation. Firefighters desiring to purchase such enhanced multiplier shall pay the full actuarial cost of such purchase.

 

BUDGETED ITEM:                       ☐ Yes ☐ No ☒ Not Applicable

 

BUDGET AMENDMENT REQUIRED:                       ☐ Yes ☐ No ☒ Not Applicable

 

 

RECOMMENDED ACTION:

Motion to approve Ordinance No. 2024-O-37