COUNCIL AGENDA ITEM
SUBJECT:
title
2nd Reading - Ordinance No. 2020-O-33 Police Pension Changes
body
DEPARTMENT:
City Clerk
SUMMARY:
Section 4.06 of the Pension Plan creates a Supplemental Retirement Benefit funded by insurance premium tax revenues collected under Chapter 185, Florida Statutes and allows police officers upon termination or retirement to receive payouts of their accumulated supplemental retirement benefit account balances via rollover to a designated qualified plan.
City Council approved the request at first reading on December 7, 2021.
BUDGETED ITEM: ☐ Yes ☐ No ☐ Not Applicable
BUDGET AMENDMENT REQUIRED: ☐ Yes ☐ No ☐ Not Applicable
RECOMMENDED ACTION:
Motion to approve Ordinance No. 2020-O-33