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P.H. 2023-86: (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, RELATING TO THE GENERAL EMPLOYEES’ RETIREMENT SYSTEM, BY AMENDING SECTION 34.025 “CONTRIBUTIONS” TO EXTEND THE PERIOD TO PAY MEMBER CONTRIBUTIONS FOR PAST SERVICES; AND BY AMENDING SECTION 34.0263, “DEFERRED RETIREMENT OPTION PLAN (DROP),” BY MODIFYING TERMS OF PARTICIPATION IN DROP; PROVIDING FOR SEVERABILITY; PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: N/A)
FIRST READING: SEPTEMBER 12, 2023
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(Staff Contact: Bobby Bush/Tracy A. Lyons)
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Summary Explanation/Background:
Administration is requesting a change to the current Ordinance and this particular change allows members of the General Employee Retirement System Plan to extend the period to pay member contributions for past services and to modify the terms for members to participate in the DROP plan.
Origin of request for this action: Human Resources Department
Fiscal impact and source of funding: N/A
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