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Committee approves renewal premium for police and fire supplemental pension insurance
Summary
The committee approved the renewal of supplemental pension insurance coverage for police and fire for the coming fiscal year; staff said the annual premium is unchanged from last year at $5,712 and that the renewal applies to the upcoming policy year.
The committee approved a resolution authorizing bonding coverage and payment of the premium for police and fire supplemental pension insurance for the upcoming year.
A staff member told the committee the renewal premium is the same as last year at $5,712 and clarified the renewal is for the next policy year. The committee moved and seconded the resolution and approved the item by voice vote.
Staff asked that the minutes note the correct fiscal year for the renewal; one council member asked staff to confirm the fiscal-year notation in the minutes.
