File #: 2024-O-35    Version: Name:
Type: Ordinance Status: Passed
File created: 6/12/2024 In control: City Council
On agenda: 9/9/2024 Final action: 7/1/2024
Title: 2nd Reading - Ordinance 2024-O-35 - Amend section 4.05, benefits upon reemployment after retirement, of article iv, retirement benefits of the police officers' pension plan
Attachments: 1. 2024-O-35 - Police Pension In-Service Distribution, 2. 2024.05.31,LetterOfNoImpact-Edgewater_Police

                     COUNCIL AGENDA ITEM

 

SUBJECT:

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2nd Reading - Ordinance 2024-O-35 - Amend section 4.05, benefits upon reemployment after retirement, of article iv, retirement benefits of the police officers’ pension plan

 

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DEPARTMENT:

Police Department - Police Pension Board of Trustees

 

SUMMARY:

 

The Police Pension Board of Trustees desire to amend the Plan to provide for the continued receipt of pension benefits after retirement upon reemployment. The Board of Trustees of the City of Edgewater Police Officers’ Pension Plan recommend adoption of this amendment to the Plan. The City Council has received, reviewed, and considered an actuarial impact statement describing the actual impact of the amendments which results in a no funding impact on behalf of the City. City Council approved 1st reading on July 1, 2024.

 

 

BUDGETED ITEM:                       ☐ Yes ☐ No ☒ Not Applicable

 

BUDGET AMENDMENT REQUIRED:                       ☐ Yes ☒ No ☐ Not Applicable

 

 

RECOMMENDED ACTION:

Motion to Approve Ordinance No. 2024-O-35.