Agenda Item # 12.C.
City Commission Regular Meeting - 5:05 PM
- Meeting Date:
- 08/18/2025
- Re
- PORF Ordinance Change for Retirement and Opt Out
- Submitted For:
- Linda Cox
SUBJECT:
Legislative Hearing - Ordinance 25-022 amending Chapter 2, Article IV, Division 5, Police Officers Retirement/Pension Funds to allow the Police Chief to opt out of the Police Officers Retirement Trust Fund and to increase DROP participation period to six years to mirror the general employee plan. SECOND READING
SUMMARY:
The Board of Trustees of the Police Officer’s Retirement Trust Fund (“Fund”) recommends increasing the DROP period for the Fund to mirror the six-year period of participation for the General Employee Plan.
This ordinance permits the police chief, retroactively to 2015, to opt out of the Police Officer's Retirement Trust Fund.
This ordinance permits the police chief, retroactively to 2015, to opt out of the Police Officer's Retirement Trust Fund.
RECOMMENDATION:
Adopt the ordinance.
ALTERNATIVES:
Do not adopt or adopt with modifications.
RESPONSIBLE STAFF:
Linda Cox, City Clerk
COORDINATED WITH:
Johnna Morris, Finance Director
Sara Hedges, City Attorney
Police Officer Trust Fund Pension Board
Sara Hedges, City Attorney
Police Officer Trust Fund Pension Board
Fiscal Impact
OTHER INFORMATION:
Letter of no current actuarial impact provided and attached.
Attachments
- Ordinance 25-022
- City Attorney Memo
- Police Union Approval
- Actuarial Impact Letter
- Proof of Publication
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Finance Department | Johnna Morris | 07/10/2025 04:34 PM |
| City Manager | Richard Chess | 07/15/2025 12:44 PM |
- Form Started By:
- Linda Cox
- Started On:
- 07/10/2025 09:57 AM
- Final Approval Date:
- 08/05/2025