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Commission amends police and firefighter retirement contributions at second reading
Summary
The commission adopted on second reading changes to the City of Daytona Beach police officers and firefighters retirement system that remove an automatic reduction in member contributions for employees at the $5,500 monthly pension cap and allow a one‑time election to remain at a reduced rate or in a 401(a) plan; vote was 6‑0.
The City Commission on Oct. 15 adopted an ordinance amending the City of Daytona Beach Police Officers and Firefighters Retirement System (subpart D of the city charter). The ordinance eliminates an automatic reduction in member contributions when a member reaches the maximum monthly pension benefit cap of $5,500. It also allows capped members…
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