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P.H. 2022-07: (PUBLIC HEARING 2ND READING)
AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, AMENDING CHAPTER 34, "CITY POLICY," OF THE POMPANO BEACH CODE OF ORDINANCES BY AMENDING SECTION 34.020 “NORMAL RETIREMENT BENEFIT”, TO IMPLEMENT RECENT CHANGES IN THE COLLECTIVE BARGAINING AGREEMENT BETWEEN THE FEDERATION OF PUBLIC EMPLOYEES AND THE CITY OF POMPANO BEACH FOR THE PERIOD BEGINNING OCTOBER 1, 2021 AND ENDING SEPTEMBER 30, 2024, THAT MODIFY THE GENERAL EMPLOYEES’ RETIREMENT SYSTEM; PROVIDING FOR SEVERABILITY; PROVIDING FOR CODIFICATION; PROVIDING FOR AN EFFECTIVE DATE.
(Fiscal Impact: The fiscal impact is reflected in the current Collective Bargaining Agreement as approved by City Commission on November 9, 2021.)
FIRST READING: NOVEMBER 9, 2021
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(Staff Contact: Ed Beecher/Brian Donovan)
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Summary Explanation/Background:
The proposed Ordinance reflects the changes negotiated between the City and the Federation of Public Employees (FOPE) for contract year October 2021 through September 2024. In Article 27, language will be added to show the Retirement Plan will be changed to increase the pension multiplier/normal retirement benefit from 2.75% to 3% average monthly earnings for service earned by Tier I members, including current DROP members, effective October 1, 2021. The cost impact will be reflected in the next fiscal year’s required contribution. The FOPE approved this provision on November 2, 2021.
Origin of request for this action: Human Resources Office
Fiscal impact and source of funding: The fiscal impact is reflected in the current Collective Bargaining Agreement as approved by City Commission on November 9, 2021.
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